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0 A V <br />By September 1, the Joint Maintenance Committee shall prepare and deliver t D L a <br />written budget describing in reasonable detail the Joint Expenses that the Lessees expect to be <br />incurred in the following calendar year (the "Joint Expenses Budget"). The Joint Expenses <br />Budget shall also specify the contribution that each Lessee must make, during the following <br />calendar year, to its reserve account pursuant to Section 4.8(b). <br />(b) The Joint Expenses Budget shall account for (i) all expected ordinary and <br />extraordinary Joint Expenses to be incurred in a calendar year, including expenses expected to be <br />incurred by the Joint Maintenance Committee for management, accounting or other services, and <br />(ii) any previously unreconciled past payments of Reimbursement Assessments for Joint <br />Expenses or Joint Expenses Assessments for Reimbursement Expenses. The Joint Expenses <br />Budget shall also describe the following: (1) the current estimated replacement cost, estimated <br />remaining life, and estimated useful life of each major component the Maintenance of which is a <br />Joint Expense; (2) the current estimate of the amount of cash reserves necessary to perform <br />Maintenance on such major components; (3) the current estimate of accumulated cash reserves <br />actually set aside by the Lessees to perform Maintenance on such major components (as further <br />discussed in Section 4.8); and (4) a statement addressing the procedures used for the calculation <br />and establishment of those reserves to defray the Maintenance of major components the <br />Maintenance of which is a Joint Expense. <br />(c) The Joint Expense Budget shall allocate Joint Expenses to each Lessee in <br />proportion to their Designated Shares subject to the following exceptions: <br />(i) Costs associated with Project -Serving Components which benefit <br />more than one but not all of the Lessees shall be allocated in an equitable manner solely among <br />the benefited Lessees; <br />(ii) Costs associated with the Maintenance of all driveways to, from, <br />and inside the Parking Garage shall be allocated to the BART Parking Parcel Lessee, Phase II <br />Parking Parcel Lessee and Family Parcel Lessee in accordance with their Designated Shares. <br />(d) Unless one or more of the Lessees objects in writing in a timely manner to <br />the Joint Expenses Budget pursuant to Section 4.3(e) below, the Joint Expenses Budget shall be <br />effective as of January 1 of the following year. <br />(e) If any affected Lessee disputes the Joint Expense Budget and the Lessees <br />are unable to resolve their differences within a reasonable time, then the Parties shall submit the <br />Joint Expenses Budget to an arbitrator jointly selected by the Parties (or if the Lessees cannot <br />agree on an arbitrator, then each Lessee will select an arbitrator and the selected arbitrators will <br />select a third arbitrator and the third arbitrator shall be the arbitrator to resolve the dispute over <br />the Joint Expenses Budget). By December 25, the arbitrator shall confirm or revise the Joint <br />Expenses Budget as the arbitrator determines to be appropriate, and such confirmed or revised <br />Joint Expenses Budget shall be effective as of January 1 of the following year. The fees of the <br />arbitrator or arbitrators shall be a Joint Expense, but any other costs incurred in connection with <br />the arbitration shall be borne by the Lessee incurring such costs. <br />17 <br />