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pay for. In determining net cost, all reimbursements to developer, <br />including, but not limited to payments from lessees, Agency of <br />the City of San Leandro, whether in the form of up -front cash <br />payment or obligations to pay through rent credit or other <br />mechanism shall be treated as a deduction for the purposes of <br />determining off -site improvements and demolition cost. <br />(iii) Except as excluded herein, all payments to third parties for the <br />development, including site work (net of reimbursement by <br />tenants), shell costs for improvements owned by the Developer, <br />tenant improvements (net of reimbursement by tenants), signage <br />(net of reimbursement by tenants or lessees), project amenities, <br />leasing commissions and consulting fees, architecture, engineering <br />fees/permits, insurance bonds, legal, marketing, market research, <br />all governmental fees, construction management or consulting <br />fees, for all construction (including, without limitation, <br />construction of off -site improvements and demolition) taxes <br />during construction, financing costs, and points. <br />(iv) Developer administrative and overhead costs for all coordination <br />and management of the development of the Premises shall not <br />exceed $225,000. <br />(v) Deducted from cost shall be anv income or other consideration <br />received from the sale of a portion of the real property or from <br />the rental income of the Premises from the time after <br />commencement of construction until the Date of Operation. <br />(e) Subsequent Adjustments to Costs <br />The initial costs shall be subject to adjustment with respect to, and shall <br />continue after the respective periods set forth below, any year after the Date of <br />Operation in which any of the following occur. <br />(i) Certain Special Capital Expenditures. In the event of the <br />occurrence of a capital expenditure ("Special Capital <br />Expenditure") by Developer resulting from (a) a <br />rehabilitation/addition which Developer is permitted to undertake <br />Disposition and Development Page 16 <br />Agreement (Creekside Center) <br />7/23/97, 8/5/97, 8/11/97, 8/12/97 <br />