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(c) on each anniversary of the date of Certificate of Complation of

The Water Main System, the City will pay to the Developer 61.9%
of all monies in the Water Deveiopment Cost Charge Fund which
have been collected from the lands within Water Specified Area 6;

and

any balance outstanding In the maximum amount payable by the City

ORRIN SO eet RN MO AEN pet Me ny a mee He

shall be pald to the Developer on the fifth anniversary of the

date of Certificate of Completion of the Water Main System.

‘No reimbursement to the Developer shal! be payable by the City In

a vein ae Lae om et Oe Boe

Neue

respect of contributions to the Sewer Main System,

Prior to the completion of the Works the Developer shal | deposit with

Tere

the City for a period of one year from the date of Certificate of

tare NR

Completion a Letter of Cradit for the’ sum of $11,854.62 dollars belng

ne

Wann

7025 (seven, polnt two five) 3 of the cost of the Works, to secure the

CRT wi

maintenance of the Works for a period of one year following

completion and the City may deduct 72,5 (seventy-two point five) J of

7

any maintenance casts incurred by [t+ during that year from the Letter

of Cradit, with any unexpended balance to be returned to the

Developer.

Pa Ee al meet Be a eT

Upon completion of Works to the satisfaction of the City, and the

payment by the Developer of its obligations under Section 5 and 6,

the City agrees to release the Developer's letter of credit provided

for under Section 7(a) «

Subject to. the performance of the obligations of the Developer set
forth In this Agreement the City agrees. to release, Indemnity and

save harmless the Developer, its officers, employees and agents, from

cand agains+;

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