Res 2003-137 - Laserfiche WebLink

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shall be responsible for payment of one-half (112) of the IH-35 Project costs to the date of such withdrawal. The IH-35 Project Manager will cause any escrowed funds in excess of the withdrawing owner's one-half (112) share of the IH-35 Project expenses to be refunded to such owner within thirty (30) days after the date of such withdrawal. Upon such withdrawal, the withdrawing owner shall have no further rights and no further Reserved Capacity in the IH-35 Project under the terms of this Agreement. Ifthe withdrawing owner is also acting as the IH-35 Project Manager, such owner shall have no further duties or obligations as the IH-35 Project Manager hereunder. The non-withdrawing owner shall have the option of proceeding with the construction of the IH-35 Project, and shall be responsible for all of the remaining costs of the IH-35 Project. If the non-withdrawing owner is not also acting as the IH-35 Project Manager, such owner shall assume and have all of the duties or obligations as the IH-35 Project Manager hereunder. 2. Ifthe IH-35 Project Manager has executed the construction contract for the IH-35 Project, the withdrawing owner may offer to assign its rights and interest under this Agreement to the owner of the other property, or to the owners of other land that may be served by the IH- 35 Project. The remaining Parties agree to honor any such assignnlent, subject to the terms of this Agreement and the assignee's compliance with the obligations of the assigning owner in this Agreement. 12. Applicable Laws; Impact Fees. A. This Agreement and the provision of water service through the IH-35 Project are subject to all valid and applicable ordinances, fees (including City water impact fees as specified in paragraph 5.B), rules, regulations, and laws of all governmental agencies having lawful jurisdiction over them. B. cThe City agrees that water impact fees charged to each of the owners of the Bennett and Blanco properties for their respective Reserved Capacities under Paragraph 7 during the Reservation Period above will, at the option of each such owner, be calculated at the City's prior water impact fee amount of $363.00 per service unit, using the City's water impact fee service unit calculations formula in eftèct as of September 30, 2002. 13. Entire Agreement; Assignment. This Agreement constitutes the entire agreement between the Parties hereto and may be amended only by a written document signed by the Parties. This Agreement shall be binding upon the successors and permitted assigns of the Parties. An owner of the Bennett and Blanco properties may assign all or part of this Agreement to a purchaser of all or part of such owner's respective property covered by this Agreement, or to the owner or a purchaser of all or any part of the Bennett or Blanco properties covered by this Agreement, without the consent of the other Parties; however, such an assignment is not valid unless the assigning owner delivers written notice of the assignment to the other Parties. It is anticipated that Bennett will assign all of its fights and obligations, including those as the IH-35 Project Manager, to AguaTierra Holdings, Ltd., Of an entity affiliated with it ("Agua Tierra"), and Agua Tierra is executing this Agreement for the purpose of acknowledging its understandings and acceptance of the terms of this Agreement. Any other assignment by a Party of rights or obligations under this Agreement will require the written approval of the other Parties. 5