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2.2 Cost Participation; Payment; Contract Matters <br /> 2.2.1 Cost Participation Amount. The City is cost participating in the Public <br /> Improvements in an amount not to exceed $1,247,261.00 for those portions of the Public <br /> Improvements requested by the City as itemized in Exhibit "B" (i.e., the City <br /> Improvements). The City will also pay for the cost of any change orders requested by the <br /> City with respect to the City Improvements. The Developer will be responsible for paying <br /> the remainder of the costs for the Public Improvements.The City Manager of the City may <br /> approve change orders related to the City Improvements up to $50,000. All other change <br /> orders for the City Improvements are subject to approval of the San Marcos City Council. <br /> 2.2.2 Limits of Participation. Except as to the costs attributable to the oversizing <br /> of the Public Improvements (i.e.,the City Improvements)requested by the City,the City's <br /> cost participation pursuant to this Agreement shall not exceed thirty percent (30%) of the <br /> Developer's total contract price for the construction of the PID l A & 1B improvements <br /> which approximate$8,245,187 as identified on the Cost Allocation Schedule. <br /> 2.2.3 Application for Payment. Payments will be made to Developer on a <br /> monthly basis from and after the Effective Date as construction of the Public Improvements <br /> progresses. The Developer shall submit a written application for City participation <br /> payment no more frequently than once every thirty(30)days. The applications for payment <br /> to the City shall be for the amount of the actual costs associated with the City's portion of <br /> the Public Improvements associated with the work under the invoice. The application for <br /> payment by the Developer to the City for payment to the Developer shall be in a form <br /> reasonably acceptable to City and must include a breakdown of actual costs of the portions <br /> of applicable City Improvements Line Items associated with the work under the invoice, <br /> with supporting documentation, including all payment receipts and any other <br /> documentation reasonably requested by the City to support the City's expenditure of public <br /> funds. The City acknowledges that as of the Effective Date Developer will have <br /> undertaken substantial portions of the Public Improvements and that the initial application <br /> for City participation payments hereunder will be for City's portion of all such work. <br /> a. City Payment. Subject to all applicable ordinances, standards and <br /> processes, the City will pay the City Participation Amount on a <br /> monthly basis within 15 days after receipt of each complete (as <br /> reasonably determined by the City) written application for <br /> participation payment from Developer. <br /> b. Special Assessment Account. The parties hereby acknowledge and <br /> agree that pursuant to Section 4.02(a)(4) of the Trace Public <br /> Improvement District Financing Agreement dated as of October 20, <br /> 2015 (the"PFA"), the Developer may also be receiving funds from <br /> the City to reimburse Developer for the Actual Costs (as defined in <br /> the PFA)of the Major Public Improvements(as defined in the PFA). <br /> It is hereby acknowledged that these funds are separate and distinct <br /> from the payments to be made to Developer pursuant to this <br /> 4 <br />