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Execution Draft <br /> <br />3.2 Local Improvements. <br /> <br /> 3.2.1 "Local Improvement." The term "local improvement" means any project or <br /> service which, if undertaken by the City, could be paid for, in whole or in part, by local <br /> assessments against abutting parcels of real property, including, without limitation, <br /> streets, sidewalks, underground utilities, and sewerage facilities. <br /> <br /> 3.2.2 "Costs" of Improvements. For purposes of this section 3.2, the "costs" of an <br /> improvement include all costs required to design, locate, construct, install and test a local <br /> improvement in compliance with the City's mandatory specifications for the <br /> improvement, but do not include the costs of other optional enhancements unless <br /> mutually agreed by the parties. <br /> <br /> 3.2.3 Improvements Within Boundaries. Each party shall be solely responsible for <br /> the costs of any segment of a local improvement located wholly within the lands of that <br /> party, without regard to the benefits provided by the improvement. <br /> <br /> 3.2.4 Improvements Between Boundaries. OWNERS and PARKS shall each be <br /> responsible for one-half of the costs of any segment of a local improvement constructed <br /> along, under or upon a street or boundary between OWNERS' lands and Parklands, with <br /> the exception of the following: <br /> <br /> A. Sidewalks shall be constructed at the sole expense of the owner of the adjacent <br /> land upon which the sidewalk is located; and <br /> <br /> B. The cost of any local improvement dedicated to the exclusive service of the lands <br /> of either party shall be paid solely by the benefited party. <br /> <br /> C. Street trees shall be at the sole expense of the adjacent landowner. <br /> <br /> 3.3 SDC Credits. Each party shall be entitled to receive any SDC credits arising from an <br /> improvement (or portion of improvement) for which the party is solely responsible. Each <br /> party will be entitled to one-half of the SDC credit for any capital or qualifying improvement <br /> constructed within a segment of a local improvement for which the parties are jointly <br /> responsible. OWNERS will receive no Park SDC Credits for the value of the parkland being <br /> conveyed. <br /> <br /> 3.4 Other Costs. Except as otherwise mutually agreed, each party will be responsible for <br /> all other costs associated with the development of its respective properties. <br /> <br /> 3.5 Limitation on City's Expenditures; Collaboration on Timing of Expenditures. <br /> <br /> Urban Lands and Parks Pre-Planning Development Agreement Page 5 of 5 <br /> <br /> <br />