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"Administrative Costs" means out of pocket costs incurred by the City together with staff and
<br />consultant (including reasonable legal, financial or municipal advisor, etc.) costs of the City, all
<br />attributable to or incurred in connection with the establishment of the TIF District and the TIF
<br />Plan and review, negotiation and preparation of this Agreement (together with any other
<br />agreements entered into between the parties hereto contemporaneously therewith) and review
<br />and approvals of other documents and agreements in connection with the Project. In addition,
<br />certain engineering, environmental advisor, legal, land use, zoning, subdivision and other costs
<br />related to the development of the Development Property are required to be paid, or additional
<br />funds deposited in escrow, as provided in accordance with the City's planning, zoning, and
<br />building fee schedules. The parties agree and understand that Developer deposited with the City
<br />$10,000 toward payment of the City's Administrative Costs. If such costs exceed such amount,
<br />then at any time, but not more often than monthly, the City will deliver written notice to
<br />Developer setting forth any additional fees and expenses, together with suitable billings, receipts
<br />or other evidence of the amount and nature of the fees and expenses, and Developer agrees to
<br />pay all fees and expenses within 30 days of City's written request. Any unused amount of such
<br />deposit shall be returned to the Developer. This Section 3.3 shall survive termination of this
<br />Agreement and shall be binding on the Developer regardless of the enforceability of any other
<br />provision of this Agreement.
<br />Section 3.4. Compliance with Environmental Regulations.
<br />(1) The Developer shall comply with all applicable local, state, and federal
<br />environmental laws and regulations, and will obtain, and maintain compliance under, any and all
<br />necessary environmental permits, licenses, approvals or reviews.
<br />(2) The City makes no warranties or representations regarding, nor does it indemnify
<br />the Developer with respect to, the existence or nonexistence on or in the vicinity of the
<br />Development Property or anywhere within the TIF District of any toxic or hazardous substances
<br />or wastes, pollutants or contaminants (including, without limitation, asbestos, urea
<br />formaldehyde, the group of organic compounds known as polychlorinated biphenyls, petroleum
<br />products including gasoline, fuel oil, crude oil and various constituents of such products, or any
<br />hazardous substance as defined in the Comprehensive Environmental Response, Compensation
<br />and Liability Act of 1980 ("CERCLA"), 42 U.S.C. §§ 961-9657, as amended) (collectively, the
<br />"Hazardous Substances").
<br />(3) The Developer agrees to take all necessary action to remove or remediate any
<br />Hazardous Substances located on the Development Property to the extent required by and in
<br />accordance with all applicable local, state and federal environmental laws and regulations.
<br />(4) The Developer waives any claims against the City, for indemnification,
<br />contribution, reimbursement or other payments arising under federal and state law and the
<br />common law or relating to the environmental condition of the land comprising the Development
<br />Property.
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<br />EL 185-50-718703.v2
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