Community Park Fee to fund the fair share contributions toward the design and construction of Community Park Improvements as described in Section 3.13.4 below, infrastructure and facilities to be constructed by the Park Agency and additional funding that could provide, at the Park Agency’s discretion, for a joint use community/high school swimming pool and/or joint use community/middle school gymnasium. For purposes of this Agreement, all references herein to the “Park Agency” shall mean and refer to the County, unless and until the County forms the Park District, at which point the rights and obligations assigned herein to the “Park Agency” shall mean and refer to the Park District, except to the extent the County elects to retain and not assign to the Park District any of the rights or obligations allocated herein to the Park Agency. In accordance with the provisions of Section 3.13 below, if and when the Park District described therein is formed by the County, the parties anticipate that the Park District will thereupon assume all of the County’s rights and obligations under this Agreement with respect to the ownership and maintenance of the open space and parks within the Plan Area and the construction of any open space, trails and park improvements, or entering into agreements with Constructing Owners to construct such improvements, and with respect to managing and administering the operation of the open space, trails, and park facilities planned for the Plan Area. As more generally outlined and summarized in the attached draft PVSP Fee Program Summary, this program anticipates provisions for fee credits and reimbursements associated with the construction of the Infrastructure and Neighborhood Park Improvements by a Constructing Owner. The PVSP Fee Program Summary also includes, at least as to the Infrastructure Fee, provisions for the calculation and collection of shortfall payments in the event a Developer develops less than the planned density for its Property used to establish the PVSP Fees and such underused density is not otherwise transferred for development elsewhere within the Specific Plan. The PVSP Fee Program shall be subject to separate review and approval by the County and the County will consider, but is not bound by, the terms outlined in Exhibit 2.5.6 in connection with its review and adoption of the final PVSP Fee Program. The adopted PVSP Fee Program shall replace Exhibit 2.5.6, which replacement will not require an amendment to this Agreement. (Note:...
