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Oakwood shall receive one hundred percent (100%) of the water hook-up fees for the <br />2,348 lots even if the water hook-up fee at the time is in excess of the current One Thousand <br />Nine Hundred Twenty-five and 00/100ths Dollars ($1,925.00) per lot. <br /> <br /> If Oakwood is unable to receive preliminary plat approval from the City for the full <br />number of Oakwood Lots then the amount of the reimbursement and the number of lots within <br />the Northwest and Northeast Service Areas under this Section shall be increased based on the <br />number of Oakwood Lots that Oakwood does not develop,. For example, if Oakwood only <br />develops 400 lots, then the number of lots that Oakwood shall receive 100% of the water hook- <br />up fees shall be increased by 83 Lots [calculated as follows: 483 Oakwood Lots anticipated to <br />be developed - 400 Oakwood Lots actually developed]. <br /> <br /> It is agreed that Oakwood will no__~t receive a Frcportion of any water hook-up fee if the <br />City does not receive a water hook-up fee as a result of an agreement with any other developer <br />that provides for the developer to pay the cost of the extension of the water main to such <br />developer's property which is considered a payment of the water hook-up fees for the lots to be <br />developed by such developer. <br /> <br /> Notwithstanding anything in this Section 3.04 to the contrary, in no event shall Oakwood <br />be reimbursed more than the Oakwood Contribution. <br /> <br /> 3.04 Additional Oalovood Lots. If Oakwood develops any lots in addition to the <br />Oakwood Lots within the Northwest and/or the Northeast Service Areas, Oakwood shall not be <br />required to pay any water hook-up fees for such additional lots, and the then current City trunk <br />charges shall be credited against the remaining reimbursable amount of the Oakwood <br />Contribution. <br /> <br />-264- <br /> <br /> <br />