Agmt 2000 City of Oakland Port Commissioners (2)

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TDC:aaa 1121100 made sooner than 30 days before the commencement of the second year. The Port agrees to pay to the City an additional lump sum amount of $25,000 to cover the City's staff cost in administering the City's Program, subject to receipt of the City's request for the payment and so long as the Program will be in effect during the third year after execution of the management firm contract, upon the later of (i) 10 days after receipt of the request and (ii) commencement of the third year after full execution of the contract with the management firm. The City's request for payment shall not be made sooner than 30 days before commencement of the third year. c) Construction and Payment for Insulation of Residential Units: 1) Number of Residential Units; Easements: A) The Port agrees to pay the City, in accordance with this Agreement, the cost to the City to noise insulate each residential unit that is located within the boundaries shown on the attached Exhibit 1 that the City elects to insulate in accordance with the Program, up to a.total of no more than 200 residential units; B) The Port shall not be obligated to deposit any amount in escrow or otherwise make any payment to the City for the cost of any residential unit noise insulation construction unless at least 10 working days before the deposit or payment the Port has received delivery of a Grant of Easement and Release ( "Easement ") in the form attached hereto as Exhibit 2 covering each residential unit to be insulated under the construction contract with the City, fully- executed by the fee owner of each residential unit to be insulated (or, if the residential unit is a residential unit that is part of a multiple residential unit building, then fully - executed by the fee owner of the multiple residential unit building property) and properly acknowledged so that it is recordable in Alameda County. City of San Leandro and Port of Oakland Settlement Agreement Page 6 29848