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Second Amendment, such as application fees, inspection fees, impact fees and other processing <br />fees for entitlements or permits that may be required. <br /> <br />3. Initial Deposit / Subsequent Payments. <br /> <br />a. Lessee shall, concurrently with its execution of this Agreement, deposit <br />Twelve Thousand Five Hundred and 00/100 Dollars ($12,500.00) with the City (the <br />“Reimbursement Account”), which will be used by City for payment of the Reimbursement Costs. <br /> <br />b. City will deduct Reimbursement Costs from the Reimbursement Account <br />and provide Lessee a monthly accounting of the Reimbursement Costs and the balance remaining <br />in the Reimbursement Account. However, Lessee shall have the right to audit all invoices for <br />Reimbursement Payments upon request. <br /> <br />c. City may submit a written request for Lessee to provide additional <br />subsequent deposits to the Reimbursement Account when the balance is less than Five Thousand <br />and 00/100 Dollars ($5,000.00). Each such request shall include a description of the type of <br />services and an estimate of the amount of additional Reimbursement Costs which are anticipated <br />to be paid through the additional deposit. If Lessee elects in its discretion not to submit the <br />requested additional deposit, or otherwise does not submit the requested additional deposit, City <br />shall have the right to cease all negotiations and drafting on the Second Amendment upon the <br />depletion of funds in the Reimbursement Account, until such time as the additional funds are <br />received. <br /> <br />d. Any funds remaining in the Reimbursement Account upon final approval <br />of the Second Amendment will be returned by City to Lessee within fifteen (15) days after such <br />final approval. <br /> <br />4. Authority and Obligations of City. City agrees: <br /> <br />a. In the exercise of the sole but reasonable discretion of its officials, agents, <br />or employees, City shall use the Reimbursement Payments only for the purposes represented. <br /> <br />b. City makes no promise, representation or warranty, express or implied, as <br />to the timing of City's processing of the Second Amendment nor as to the outcome by City as to <br />the processing, including the action by the City Council on the Second Amendment, except that <br />the City and its consultants and Lessee shall diligently work together in a timely fashion and in <br />good faith to negotiate and prepare the Second Amendment. <br /> <br />5. Authority and Obligation of Lessee. Lessee agrees: <br /> <br /> a. To make timely deposits to the Reimbursement Account, as requested by <br />City. <br /> <br /> b. To comply fully with all applicable local, regional, state, and federal rules, <br />regulations, resolutions, ordinances, and laws with respect to the Second Amendment, as they may <br />exist now or in the future. <br /> <br />DocuSign Envelope ID: C06F5183-C6CA-48E2-AC7D-882CAEC2E603