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⦁ Billing and Payment Procedure: The District shall submit to City all reimbursement requests in the form of monthly invoices for the costs associated with the BART STI Improvements and the BART TRA Improvements. Invoices will include backup documentation as required by HCD and a cover sheet indicating the budget line item from which each cost shall be drawn. Once the AHSC Grant Disbursement Agreement is executed, City shall submit corresponding reimbursement requests to HCD within 30 days of its receipt of District’s invoice (or such later date as may be required by HCD, but in any event within 45 days after the City’s receipt of the District’s invoice), and thereafter disburse to the District any such funds received from HCD within 30 days of receipt. Failure of the City to timely submit the District reimbursement requests to HCD or to disburse any funds received from HCD within 30 days of receipt for the BART STI Improvements or BART TRA Improvements to the District shall be a default under this Agreement and shall excuse the District from performance of the BART STI Improvements or BART TRA Improvements. ⦁ Implementation Agreements. In the event a grant award is received from AHSC, the Parties recognize that each Party may need additional assurances from another Party (including assurances for the Housing Project’s lenders and investors) regarding the AHSC Grant and AHSC Loan before commencement of construction of the Housing Project, the BART STI Improvements, and the BART TRA Improvements. The Parties agree to cooperate with each other to reach timely mutual agreement on amendments to this Agreement, other implementation agreements or estoppel certificates necessary to provide reasonable assurances and indemnifications related to the disbursement of AHSC Grant funds. The Parties recognize that any such amendments to this Agreement or execution of additional agreements may require approval of the City’s Council, District’s Board of Directors and Developer’s Board of Directors. ⦁ Notices. All notices required hereunder, demands, and communications between the Parties shall be sufficiently given if, and shall not be deemed given unless, dispatched by United States registered or certified mail, or other form of mail which offers proof of mailing, postage prepaid, and return receipt requested, or delivered by express delivery service and return receipt requested, or delivered personally, to the principal office of the Parties as follows: District: Carli Paine Group Manager, Property Development BART 2150 Webster St., 9th floor Oakland, CA 94612 510-912-0331 Carli.paine@bart.gov Developer: Caleb Roope President & CEO 6