Public Land Dedication Equalization Program. In addition to and separate from the project fees to be adopted and administered by the County described in Sections 2.5.2 through 2.5.6 above (the “Project Impact Fees”), but subject to County review and oversight as deemed necessary by the County, the Development Group shall administer a program of land equalization fees, in accordance with and as generally described and outlined by the provisions of Exhibit 2.5.7 attached hereto (the “Land Equalization Fee Program”). The Land Equalization Fee Program involves the calculation and payment of land equalization fees (the “Land Equalization Fees”) by each Participating Developer who owns an Under-Dedicating Property (as defined in this Program), and land equalization fee reimbursements reimbursable on a prorata basis to the Over-Dedicating Developers (as defined in this Program). The purpose of this Program is to generally equalize the land dedication obligations between the Participating Developers and other Plan Area properties. In accordance with the provisions of Section 2.5.7.8 of Exhibit 2.5.7, prior to County approval for recordation of each Final Small Lot Map (as defined herein) for single-family residential development or approval of improvement plans for each multi- family or commercial development within the Property, Developer must deliver to the County written confirmation from the Development Group that either (i) Developer has paid to the Development Group any required Land Equalization Fee or (ii) Developer is not required to pay any Land Equalization Fee in connection with such requested approval. This Land Equalization Fee Program is included in this Agreement at the request of the Participating Developers to establish a fair share land dedication mechanism between the property owners and shall be administered solely by the
