Municipal and District Donations and Impact Fees Sample Clauses

Municipal and District Donations and Impact Fees. ‌ Attached hereto as Exhibit I is a schedule of all of the Municipal and District land/cash donations, impact fees, transition fees, or other assessments applicable to the Property, for the following purposes: the Village’s Public Use, School, Parks and Recreation, Fire Protection, library, transportation improvements, cemetery, township, and early warning sirens. Owner agrees to make such land/cash donations, and to pay such impact fees transition fees, and other assessments, for such purposes as are listed in Exhibit I. The amounts of such land/cash donations, impact fees, transition fees and other assessments shall not be increased during the first 5 years of this Agreement following the recording of the first final plat within the Property (the “First Plat Date”). No new land/cash donations, impact fees or transition fees adopted by the Village shall be applicable to the Property during the first 5 years following the First Plat Date. After the end of the first 5 years following the First Plat Date, and except for land/cash donations and impact fees which are fully satisfied by Owner as provided herein, the amounts then applicable in the Village for land/cash donations, impact fees, and transition fees shall be applicable to the Property. Neither Owner nor the Property shall be liable to satisfy any increases in land/cash donations, or to pay any increases in the amount of any impact fees or transition fees until a period of 6 months after the time of establishment of any increased amount shall have elapsed. All land/cash donations shall be made, and all impact fees and transition fees paid, at the time of building permit application. Notwithstanding the foregoing, the parks shown on the Preliminary Development Plan and identified as “Public Parks” are the only land dedications / land donations that will be required of the Owner, the remainder of the Owner’s land/cash donation obligations to be satisfied by the fees herein provided.
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