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of such Public Improvements, (b) the fees paid for obtaining permits, licenses or other
<br />governmental approvals for such Public Improvements, (c) construction management fee,
<br />(d) the costs incurred by or on behalf of the Landowners for external professional costs,
<br />such as engineering, geotechnical, surveying, land planning, architectural landscapers,
<br />research studies, appraisals, legal, accounting and similar professional services, (e) all
<br />labor, bonds and materials, including equipment and fixtures, by contractors, builders and
<br />materialmen in connection with the acquisition, construction or implementation of the
<br />Public Improvements, (f) all related permitting and public approval expenses, architectural,
<br />engineering, and consulting fees, financing charges relating to the PID , governmental fees
<br />and charges, insurance premiums, and all payments for Administrative Expenses after the
<br />date of a resolution authorizing such reimbursement, plus interest, if any, at the lower of
<br />(x) the maximum interest rate permitted by the PID Act or (y) the interest rate of the Bonds
<br />calculated from the respective dates of the expenditures until the date of reimbursement
<br />therefore.
<br />"Administrative Expenses" means the administrative, organization, maintenance and
<br />operation costs and expenses associated with, or incident to, the administration,
<br />organization, maintenance and operation of the PID, including, but not limited to, the costs
<br />of (i) legal counsel, engineers, accountants, financial advisors, investment bankers or other
<br />consultants and advisors, (ii) creating and organizing the PID and preparing the
<br />Assessment Roll, (iii) computing, levying, collecting and transmitting the Special
<br />Assessments or the Annual Installments thereof, (iv) maintaining the record of
<br />installments, payments and reallocations and/or cancellations of the Special Assessments,
<br />(v) paying and redeeming the PID Bonds, (vi) investing or depositing the Special
<br />Assessments or other monies, (vii) complying with the PID Act with respect to the PID
<br />Bonds, (viii) paying the paying agent/registrar's and trustee's fees and expenses (including
<br />the fees and expenses of its legal counsel) related to the PID Bonds, and (ix) administering
<br />the construction of the Public Improvements.
<br />"Administrator" means an employee of the City or third party designee of the City who
<br />shall have the responsibilities provided for herein, in an Indenture relating to PID Bonds or
<br />in any other agreement approved by the City Council.
<br />"Annual Installment" means, with respect to each Parcel, each annual payment of: (i) the
<br />Special Assessment (including the principal of and interest on), as shown on the
<br />Assessment Roll attached hereto as Appendix A. as applicable, or in an Annual Service Plan
<br />Update, and calculated as provided in Section VI of this SAP, (ii) Administrative Expenses,
<br />(iii) the Prepayment Reserve described in Section IV of this SAP, and (iv) the Delinquency
<br />Reserve described in Section IV of this SAP.
<br />"Annual Service Plan Update" has the meaning set forth in Section V of this SAP.
<br />"Assessed Property" or "Assessed Properties" means property on which Special
<br />Assessments have been levied as shown on the Assessment Roll (as the same may be
<br />updated each year by the Annual Service Plan Update) and which includes any and all
<br />Parcels within the PID other than Non -Benefited Property.
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