Res 2016-150/approving the Landowner Agreement and Notice of Special Assessments Agreement with Highpointe Trace, LLC for the Trace Public Improvement District (PID).

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"Actual Cost(s)" means, with respect to the Public Improvements, the Owner's demonstrated, reasonable, allocable, and allowable costs of constructing such Authorized Improvement, as specified in a payment request in a form that has been reviewed and approved by the City and in an amount not to exceed the amount for each Public Improvements as set forth in the Service and Assessment Plan (subject to cost overruns in Section 5.01(e)). Actual Costs may include (a) the costs incurred by or on behalf of the Owner (either directly or through affiliates) for the design, planning, financing, administration/management, acquisition, installation, construction and/or implementation of such Public Improvements, (b) the fees paid for obtaining permits, licenses or other governmental approvals for such Public Improvements, (c) Construction Management Fee, (d) the costs incurred by or on behalf of the Owner for external professional costs, such as engineering, geotechnical, surveying, land planning, architectural landscapers, advertising, marketing and research studies, appraisals, legal, accounting and similar professional services, (e) all labor, bonds and materials, including equipment and fixtures, by contractors, builders and materialmen in connection with the acquisition, construction or implementation of the Public Improvements, (f) all related permitting and public approval expenses, architectural, engineering, and consulting fees, financing charges, taxes, governmental fees and charges, insurance premiums, and all payments for Administrative Expenses after the date of a resolution authorizing such reimbursement, plus Interest, if any, at the lower of (x) the maximum interest rate permitted by the PID Act or (y) the interest rate of the Bonds calculated from the respective dates of the expenditures until the date of reimbursement therefore. "Additional Improvement PID Bonds" means bonds issued to fund the remaining Public Improvements (or a portion thereof) that are secured by Special Assessments levied on Assessed Property and were not included in the Major Improvement Public Improvement PID Bond issue. In connection with Additional Improvement PID Bonds, Special Assessments related to such Additional Improvement PID Bonds will be levied only on property located within the applicable Parcels or portion of the District to finance Public Improvements which will only benefit the applicable Parcels or portion of the District. "Additional Public Improvements No. 1" means those Public Improvements that confer special benefit only on property located within the applicable Parcels or portion of the District to finance Public Improvements that will be financed with Additional Improvement PID Bond No. 1 and as generally depicted in Annendix E-2. "Additional Public Improvements No. 2" means those Public Improvements that confer special benefit only on property located within the applicable Parcels or portion of the District to finance Public Improvements that will be financed with Additional Improvement PID Bond No. 1 and as generally depicted in Annendix E-3. "Additional Special Assessments" means the additional Special Assessment to be levied on a Parcel or Lot subsequent to the issuance of the Additional Improvement PID Bonds with the consent of the Landowner and prior to the creation of any homestead on such Parcel or Lot. 3