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9 iA'Z 4 18 "12 <br />Pursuant to § 66477 of the Subdivision Map Act, the City of San Leandro has, by <br />ordinance, imposed a requirement for the payment of fees in lieu of parkland dedication upon <br />proposed residential subdivisions. <br />The requirement for the payment of parkland in -lieu fees was made a condition of the <br />subdivision map approval for the subject project and the approval for Tract Map No. 6933 <br />(Parcel Map No. N A) was granted subject to such condition. <br />NOW, THEREFORE, in consideration of the granting of final subdivision approval for <br />Tract Map No. 6933 (Parcel Map No. -N/A-), it is mutually agreed as follows: <br />Developer agrees to comply with all the conditions of approval as more <br />specifically described in the reports and exhibits on file in the office of the City Clerk, attached <br />hereto, incorporated herein by reference, and adopted by the City Council. <br />2. Developer agrees to pay to the City parkland in -lieu fees imposed pursuant <br />to § 7-1-820 through 7-1-855 of the San Leandro Municipal Code of 1985. <br />3. Developer agrees to make payment to the City of the parkland in -lieu fees <br />on an incremental basis as follows: <br />a. At the time of the close of escrow on the sale of each of the 20 <br />dwelling units, the Developer shall pay to the City an amount not less than seventy-five <br />one hundredths percent (.75%) of the sale price of the unit; in any event, the total amount <br />of the fee shall be paid by Developer to the City within two (2) years of the recordation <br />date of the final subdivision map. <br />b. If, at the end of two (2) years from the recordation date of the final <br />subdivision map, Developer has not closed escrow on the sale of all 20 dwelling units, <br />the remaining sum owed shall be calculated by multiplying seventy-five one hundredths <br />TRACT 6933 <br />RESUBDIVISION OF LOT 106, TRACT 1232-33 MAPS 71 <br />C:\MAPS\TM6933\PARKLAND.DOC <br />2 OF 4 <br />