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Completion of construction shall be evidenced by the City's acceptance of <br />the improvements in accordance with the City's ordinances and customary <br />practices applicable to the acceptance of public improvements associated <br />with platting. Notwithstanding the foregoing, the City may, but is not <br />obligated to, construct the Wastewater Impact Fee Project improvements, <br />subject to the Developer repaying the City for the Developer's pro rata share <br />as outlined Subsection (iii) below. <br />iii. Costs. The City shall pay its pro rata share, as defined below, <br />in the form of progress payments, of all surveying, engineering and other <br />design costs, if applicable, and fees within 30 days of the Developer <br />presenting invoices to the City. Upon commencement of construction, the <br />City shall pay all construction costs as each progress payment is presented <br />and approved by the City for payment. Within two years after the new <br />regional lift station becomes operational, as determined by the City, the <br />Developer shall repay the City the full amount of construction and <br />acquisition costs associated with the Developer's pro rata share (as defined <br />below) of such improvements. The City shall apply a credit against the <br />repayment amount due from the Developer under this subsection, or refund <br />to the Developer from such repayment amount paid, a sum equal to the <br />amount of any impact fees collected from development within the Property <br />within four years of the date the Developer's repayment obligation begins. <br />Such credit or refund amount, however, may not exceed the Developer's <br />repayment amount due. <br />10 <br />065611.00495 309237v15 <br />