Beechwood Shared Infrastructure Fee Sample Clauses

Beechwood Shared Infrastructure Fee. Developers shall pay a combined Beechwood Shared Infrastructure Fee in an amount sufficient to account for the Developers obligations to complete the off-site traffic mitigation infrastructure improvements specified in this Agreement, the construction of the Community Park as specified in Section 3.11, and the net traffic impact mitigation fees, as specified in Exhibit C-1, Exhibit C-2A, and Exhibit C-2B, each incorporated herein by reference (“the Beechwood Shared Infrastructure Fee”). The Beechwood Shared Infrastructure Fee shall account for the park and traffic mitigation fees imposed by the City under this Agreement and for the Developers’ anticipated credits to be provided by the City in return for completing the off-site traffic mitigation infrastructure improvements and constructing the Community Park as required by this Agreement. In no event shall the City be required to provide for a credit against the Beechwood Shared Infrastructure Fee for a required improvement not delivered at the end of each phase. The City shall enter into credit and/or reimbursement agreements with the Developers in each phase who are constructing the infrastructure improvements listed in Exhibits C-2A and C-2B. The City shall use best efforts to limit Developers from both paying the Beechwood Shared Infrastructure Fee paying for the construction of such infrastructure. The City agrees to reimburse the Developer constructing any of the shared improvements listed on Exhibits C-2A and C-2B, as applicable, on a progress payment basis in amounts not to exceed the collected Beechwood Shared Infrastructure Fee.
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