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Kaufman and Broad - PDA No. 94-26wr�nnm o `� 7I 1�?A TED 1221 -923 I& — LC C'�r,rs.! RESIDENTIAL AGREEMENT FOR EXTENSIONS OF WATER DISTRIBUTION SYSTEMS: IMPROVEMENT OF STREETS: INSTALLATION OF SEWERS, STORM DRAINS AND OTHER PUBLIC WORKS FACILITIES No. 94 -26 This agreement made and entered into this 23rd day of May 19 94 , by and between the city of Gilroy, a municipal corporation, herein called the "City" and Kaufman and Bread, Tnr , a real property owner developer or subdivider, herein called the "Developer ". WHEREAS, a final map of subdivision, record of survey or building permit (Site clearance) application has now been submitted to the City for approval and acceptance, covering certain real estate known as and called: Hillcrest 3, Portion of APN 783 -42 -028 and 029 Tract 8662 and, WHEREAS, the Developer requires certain utilities and public works facilities in order to service the property under the minimum standards established by the city and, WHEREAS, the City, by and through its City council, has enacted certain codes, ordinances and Resolutions and certain Rules and Regulations have been promulgated concerning the subject matter of this agreement and, WHEREAS, the city has certain responsibilities for maintenance and operation of such utilities and public service facilities after acceptance by City, and for providing the necessary connecting system, general plant and appurtenances, and the City is agreeing to discharge those responsibilities. NOW THEREFORE, in consideration of the premises and in order to carry on the intent and purpose of said Codes, ordinances, Resolutions and Regulations, it is agreed by and between the parties as follows: SECTION 1 That all codes, Ordinances, Resolutions, Rules and Regulations and established policies of the City and the laws of the State of California concerning the subject matter of this agreement are hereby referred to and incorporated herein to the same effect as if they were set out at length herein. Said Codes, Ordinances and Regulations include, but are not limited to, the following: the Code of the City of Gilroy, the current Zoning Ordinance, and the currently adopted Uniform Building code. SECTION 2 The Developer agrees: a. To perform each and every provision required by the City to be performed by the Developer in each and every one of said Codes, Ordinances and other Regulations. OT'itv -1- of (6itrq ;7 7351 Rosanna Street GILROY, CALIFORNIA --, , -b-- L•�� M t s) No. 94 -26 This agreement made and entered into this 23rd day of May 19 94 , by and between the city of Gilroy, a municipal corporation, herein called the "City" and Kaufman and Bread, Tnr , a real property owner developer or subdivider, herein called the "Developer ". WHEREAS, a final map of subdivision, record of survey or building permit (Site clearance) application has now been submitted to the City for approval and acceptance, covering certain real estate known as and called: Hillcrest 3, Portion of APN 783 -42 -028 and 029 Tract 8662 and, WHEREAS, the Developer requires certain utilities and public works facilities in order to service the property under the minimum standards established by the city and, WHEREAS, the City, by and through its City council, has enacted certain codes, ordinances and Resolutions and certain Rules and Regulations have been promulgated concerning the subject matter of this agreement and, WHEREAS, the city has certain responsibilities for maintenance and operation of such utilities and public service facilities after acceptance by City, and for providing the necessary connecting system, general plant and appurtenances, and the City is agreeing to discharge those responsibilities. NOW THEREFORE, in consideration of the premises and in order to carry on the intent and purpose of said Codes, ordinances, Resolutions and Regulations, it is agreed by and between the parties as follows: SECTION 1 That all codes, Ordinances, Resolutions, Rules and Regulations and established policies of the City and the laws of the State of California concerning the subject matter of this agreement are hereby referred to and incorporated herein to the same effect as if they were set out at length herein. Said Codes, Ordinances and Regulations include, but are not limited to, the following: the Code of the City of Gilroy, the current Zoning Ordinance, and the currently adopted Uniform Building code. SECTION 2 The Developer agrees: a. To perform each and every provision required by the City to be performed by the Developer in each and every one of said Codes, Ordinances and other Regulations. OT'itv -1- of (6itrq ;7 7351 Rosanna Street GILROY, CALIFORNIA _.s -v rn J 461 PAGE 0741 b. To grant to the City without charge, free and clear of encumbrances, any and all stipulated easements and rights of way in and to his said real property necessary for the City in order that its water, electricty, and /or sewer lines in or to said real property may be extended. C. To indemnify and hold the city harmless and free from all damage and liability done to any utility, public facility or other material or installation of the City on said real estate which the Developer or any contractor or subcontractor of the Developer, or any employee thereof, shall do in grading or working upon said real estate. d. To construct and improve all public works facilities and other improvements as set out herein, according to the standards heretofore established, and according to the grades, plans and specifications thereof, all as approved by the City Engineer, and shall furnish two (2) good and sufficient bonds. one shall be executed in the face amount of no less than $ 23s,336_nn , and the other shall be executed in an amount no less than 50% of the above mentioned bond and shall secure payment to the contractor, his subcontractors and to persons renting equipment or furnishing labor or materials to them for the improvement hereunder, and as provided for in section 4200 -4210 of the Government code of the State of California, the Codes, ordinances, Resolutions, and Regulations of the City, and this agreement. The faithful performance bond hereinabove provided for, shall by the terms remain in full force and effect for a period of one (1) year after the completion and acceptance of said work, to guarantee the repair and replacement of defective material and faulty workmanship. In lieu of said faithful performance bond for maintenance, the Developer may furnish a maintenance bond in the amount of 10% of the total contract price (with a minimum amount of one thousand dollars $1,000.00) to cover the one (1) year maintenance period. e. That upon approval of the final map of the subdivision, the record of survey or the building permit covering the real estate to be improved and before any work is done therein, the Developer shall pay to the City all sums, shown in section 9 thereof to be due under the terms and provisions of this agreement. SECTION 3 That all sums shown herein to be payable by the Developer to the City are due and payable to the City upon the execution of this agreement. CrOMTnM d That all the provisions of this agreement and all work to be done pursuant to the terms of this agreement are to be completed within one year from and after the date and year first above written. -2- N4 61PAGE0742 SECTION 5 That the special provisions concerning the particular real estate referred to above, being attached hereto, are hereby incorporated herein and expressly made a part of this agreement. SECTION 6 That the faithful and prompt performance by the Developer of each and every term and condition contained herein is made an express condition precedent to the duty of the City to perform any act in connection with this transaction, and the failure, neglect or refusal of the Developer to so perform, or to pay any monies due hereunder when due shall release the City from any and all obligations hereunder and the City, at its election, may enforce the performance of any provision herein, or any right accruing to the City or may pursue any remedy whatsoever it may have under the laws of the state of California or the Codes, ordinances, Resolutions of the City, in the event of any such default by Developer. SECTION 7 That this agreement, together with the attached stipulations, is an instrument affecting the title or possession of the real property described in Exhibit A. All the terms, covenants and conditions herein imposed shall be binding upon and inure to the benefit of the successors in interest of Developer. upon the sale or division of the property described in Exhibit A, the terms of this agreement shall apply separately to each parcel and the Developer of each parcel shall succeed to the obligations imposed on Developer by this agreement. SECTION 8 That the following General Stipulations and the attached stipulations shall be completed subject to the approval of the Director of Public works. 1. Locate and properly dispose of any wells, septic tanks and underground fuel storage facilites. NOTE: The capping of any well will require inspection by the Santa Clara Valley Water District. 2. Schedule the construction of improvements along existing public roads so that the work affecting vehicular traffic is completed with a minimum interruption to traffic. 3. All work within the public right -of -way shall be subject to the approval of the City Engineer. 4. Before construction utilizing combustible materials may proceed, an all weather access must be provided to within 150 feet of the building site; and at least one in service fire hydrant must be available within 500 feet of each portion of the site wherein this construction is to take place. Location of the fire hydrants will be determined by the Fire Chief. -3- N4 6 7PPGE0743 SECTION 9 That the attached Development Cost Schedule enumerates all fees and their extensions. TOTAL AMOUNT DUE CITY S 123,498.06 IN WITNESS WHEREOF, said parties have caused these presents to be executed the date and year first above written. CITY ATTES Susanne E. Steinmetz, Jy Cler , /MaFpr , City Administrator Kaufman A Broad SOUTH BAY, INC. FORM APPROVED: B Cf��ITYZOI DAT 5 • R' NOTE: If Developer is a corporation, the complete legal name and corporate seal of the corporation and the corporate titles of the persons signing for the corporation shall appear above. STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) On May 16, 1994 before me, Linda J. Kentner, appeared John H. Bremond and Mark C. Butler personally known to me to be the person(s) whose name(s) is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity and that by his signature on the instrument, the person executed the instrument. WITNESS my hand and official seal. a7;y OFFICIAL SEAL Linda J Kentner ® : NOTARY PUBLIC CALIFORNIA "• LOS ANGELES COUNTY on MY Comm Expires June 20. 1995 467PAGE 744 Hillcrest III stipulations to Property Development Agreement No. 94 -26 1. All improvements as outlined in the Improvement Plans for Hillcrest III are to be completed in full per city of Gilroy standards. 2. Hillcrest III is to be developed pursuant to the Tentative Map conditions for this project. 3. Developer to sign and participate in the Northwest Quadrant Sewer Agreement. 4 6 7PAGE07145 EXHIBIT 'A' Tract No. 8662 Location Map 467 PAGE 0746 Totals ................ $123,498.06 $0.00 $123,498.06 Bonds and Securities $357,504 -------- - - - - -- -------------- SERVICE CHARGES (1) CITY OF GILROY DEPARTMENT OF PUBLIC WORKS DATE: 05- Apr -94 ENGINEERING DIVISION ---- - - - - -- FINAL CHARGES NUMBER: 94 -26 PROJECT LOCATION: HILLCREST III PARCEL NUMBER: ----------------------------------------------------- Portion of 783 -42 -028 & 029 OWNER /DEVELOPER: ----------------------------------------------------- Kaufman and Broad MAILING ADDRESS: ----------------------------------------------------- 1604 North Main St., Salinas, Ca. 93906 TELEPHONE NO: ----------------------------------------------------- 442 -7615 & 442- 8839(Fax) PREPARED BY: ----------------------------------------------------- M. Fachin Key ----------------------------------------------------- G/L Account Account No. Code Fee: Credits: Amount Due: Description: ---------------- - 100- 2600 -3- 600400 - - - -- 4904 ------- - - - - -- ------ $4,718.18 - - - - -- ------ $0.00 - - - - -- $4,718.18 ------ - - - - -- PW Services 100 - 2600 -3- 600412 4702 $20,728.10 $0.00 $20,728.10 Plan Ck /Insp 420 - 2600 -3- 680200 4501 $5,273.90 $0.00 $5,273.90 Storm Fee 431 - 2600 -3- 680300 5001 $0.00 $0.00 $0.00 Undrgrnd Fee 433 - 2600 -3- 681000 4905 $38,178.00 $0.00 $38,178.00 Traffic Fee 435 - 2600 -3- 671000 4509 $30,604.00 $0.00 $30,604.00 Sewer Fee 436 - 2600 -3- 695000 4510 $15,050.00 $0.00 $15,050.00 Water Fee 720 - 0433 -3- 690000 2202 $2,903.88 $0.00 $2,903.88 Const Water 801 - 0000 -2- 229015 4703 $6,042.00 $0.00 $6,042.00 Reimbrsmnts 801 - 0000 -2- 229015 4703 $0.00 $0.00 $0.00 xxxxxxxxxxxx 801 - 0000 -2- 229015 4703 $0.00 $0.00 $0.00 xxxxxxxxxxxx Totals ................ $123,498.06 $0.00 $123,498.06 Bonds and Securities $357,504 -------- - - - - -- -------------- SERVICE CHARGES (1) 1 N467PAGE0747 1 CITY OF GILROY No. 94 -26 DEPARTMENT OF PUBLIC WORKS ------- - - - - -- DEVELOPMENT COST SCHEDULE Date 05- Apr -94 FINAL ESTIMATE ------- - - - - -- Prepared by M. Fachin NOTE: This 100 % cost schedule has been adjusted to the rates in effect at the time Building Permits were issued. Location of Property HILLCREST III ----------------------------------------------------- Assessor's Parcel No. Portion of 783 -42 -028 & 029 ----------------------------------------------------- Name of Applicant Kaufman and Broad ----------------------------------------------------- Mailing Address 1604 North Main St., Salinas, Ca. 93906 ----------------------------------------------------- (Number of Reimbursements and credits: Site Information: Units /Sq Ft) • Country Estates Water System? Y Single Family Res units? 14 • Country Estates Sewer System? N High Density Res units? 0 • Northwest Quadrant Sewer? N High Traffic Commercial? 0 • Obata Industrial Park Credit? N Low Traffic Commercial? 0 N General Industrial? 0 Commercial /Industrial Allocations: N Warehouse Industrial? 0 • Sewer Allocation GPD 0 Common Area? 0 • Water Allocation GPD 0 N Assembly Hall? B Storm Basin No. Lots 14 Number of Lots Used in Estimate 14 Total Area 2.540 Acres Number of Acres Used in Estimate 2.540 Actual FF 960.00 Feet Front Footage used for FF Charges 0.00 Front Footage used for Cost of Improvements and Const Water 960.00 Special Public Works Services 100 - 2600 -3- 600400 $4,718.18 (Includes Administration Fee(s) for Reimbursements) ------ - - - - -- Maps: 100% $4,718.18 Final $3,025.00 + $50.00 /lot Parcel $1,070.00 + $100.00 /lot Reapportionment (Assessment District Parcels) $1,767.00 + $100.00 /lot Administration Fees: Country Estates Water System (Not Included) Country Estates Sewer Trunk Main (Not Included) Northwest Quadrant Sewer Trunk Main (See Attached Worksheet) COST SCHEDULE (1) Y $3,725.00 N $0.00 N $0.00 $0.00 $0.00 $60.00 4 6 7 PAGE 748 ;. Miscellaneous Engineering Services: (Cost Schedules, Agreements, R/W Reviews and Other Misc. Services) 10 hr Misc Services $77.00 /hr. Y $770.00 Public Works Microfilming (Maps and Plans): 1- 6 sht $149.94 + $6.62 /sheet $163.18 7 -12 sht $191.84 + $6.62 /sheet $0.00 13 -18 sht $233.73 + $6.62 /sheet $0.00 # of Shts 2 Engring Plan Check and Inspection 100 - 2600 -3- 600412 $20,728.10 (Based on total cost of public ------ - - - - -- right -of -way improvements) 100% $20,728.10 0 hr Onsite grading $77.00 /hr. N $0.00 Offsite Improvements to be Bonded $238,336 Actual Cost of Public Improvements $238,336 10% of first $100,000 $10,000.00 8% of $100,000 to $200,000 $8,000.00 7% of over $200,000 $2,683.52 Fire Hydrant Location Fee Number of Fire Hydrants 4 Fst Five $44.58 + $4.46 /ea additional $44.58 Storm Drain Development Fee 42X- 2600 -3- 680200 Zone A $2,216.82 /acre Zone A -1 $4,418.71 /acre Zone B $2,076.34 /acre Zone C $3,535.99 /acre Zone D $2,193.17 /acre Zone E $1,652.28 /acre Zone F Zone Q $3,051.34 /acre $2,774.18 /acre Zone R $1,387.57 /acre Obata Industrial Park Credits Obata Fee Credit $1,170.00 /acre COST SCHEDULE (2) 100% Y $0.00 Y $0.00 Y $5,273.90 Y $0.00 Y $0.00 Y $0.00 Y $0.00 Y $0.00 Y $0.00 Y $0.00 $5,273.90 $5,273.90 N4 6 I P A GED ?49 Front Foot Charges: (Used to charge and reimburse fees for existing infrastructure) Water 801- 0000 -2- 229015 $0.00 Water Mains, including fire hydrants, 100% $0.00 valves and box: (Developer is responsible for up to and including 12" mains) Half Pipe 6 " Main $12.50 / f.f. x 8 " Main $13.50 / f.f. x 10 " Main $15.00 / f.f. x 12 " Main $16.50 / f.f. x 14 " Main $18.50 / f.f. x 16 " Main $20.50 / f.f. x Country Estates Water System (Not Included) Sewer Front Footage N 0.00 = $0.00 ------- N _------ - - - - -- ------ 0.00 = - - - - -- ------ - - - - -- $0.00 N 0.00 = - - - - -- $0.00. _------ N - - - - -- ------ 0.00 = - - - - -- $0.00 ------- N - - - - -- ------ 0:00 = - - - - -- $0.00 ------- N ------------ - - - - -- ------ 0.00 = ------ - - - - -- $0.00 - - - - -- / f.f. x $0.00 Sewer Mains, including manhole: (Developer is responsible for up to and including 12" mains) Half Pipe 6 " Main $12.00 / f.f. x 8 " Main $12.50 / f.f. x 10 " Main $14.00 / f.f. x 12 " Main $15.50 / f.f. x 15 " Main $19.00 / f.f. x Northwest Quadrant Sewer Trunk Main (See Attached Worksheet) Country Estates Sewer Trunk Main (Not Included) COST SCHEDULE (3) 801 - 0000 -2- 229015 $6,042.00 100% $6,042.00 Front Footage N ' 0.00 = _------ - - - - -- ------ $0.00 - - N 0.00 = - - -- $0.00 _ ------------ ------ N 0.00 = - - - - -- $0.00 _------ - - - - -- ------ N 0.00 = - - - - -- $0.00 _ ------------ ------ N 0.00 =. _ ------------ ------ - - - - -- $0.00 - - - - -- $6,042.00 $0.00 COST SCHEDULE (4) 7 PA' GIE 0 ?50 � Street Improvements 801 - 0000 -2- 219015 $0.00 100% $0.00 Pavement- . - - - _ - Square Footage -- - -: - - -- 3" AC on 8" AB $2.42 x 0.00 = $0.00 3" AC on 10" AB $2.71 x 0.00 = $0.00 3" AC on 12" AB $2.99 x 0.00 = $0.00 3" AC on 15" AB $3.43 x 0.00 = $0.00 Square Footage Sidewalk 4" on 4" $4.43 x 0.00 = $0.00 and driveway ------ - - - - -- Front Footage Curb /Gutter - on 6" $14.39 x 0.00 = $0.00 Storm Drain ------ 801- - - - - -- ------ - - - - -- 0000 -2- 229015 $0.00 100% $0.00 Storm Mains, including manholes and catch basins: (Developer is responsible for up to and including 24" mains) Half Pipe Front Footage ---- 18 " Main - - - - -- $19.00 / f.f. x ------- N - - - - -- 0.00 = $0.00 21 " Main $20.50 / f.f. x N 0.00 = $0.00 24 " Main $22.00 / f.f. x N 0.00 = $0.00 27 " Main $23.50 / f.f. x ------- N - - - - -- ------ 0.00 = - - - - -- $0.00 30 " Main $25.00 / f.f. x _------ N - - - - -- ------ 0.00 = - - - - -- $0.00 33 " Main $26.50 / f.f. x _------ N - - - - -- ------ 0.00 = - - - - -- $0.00 36 " Main $28.00 / f.f. x _------ N - - - - -- ------ 0.00 = - - - - -- $0.00 42 " Main $31.00 / f.f. x ------- N - - - - -- ------ 0.00 = - - - - -- $0.00 48 " Main $34.00 / f.f. x _------ N . - - - - -- ------ 0.00 = - - - - -- $0.00 54 " Main $37.00 / f.f. x ------- N - - - - -- ------ 0.00 = - - - - -- $0.00 60 " Main $40.00 / f.f. x ------- N - - - - -- ------ 0.00 = - - - - -- $0.00 66 " Main $43.00 / f.f. x N 0.00 = $0.00 72 " Main $46.00 / f.f. x _------ N - - - - -- ------ 0.00 = - - - - -- $0.00 78 " Main $49.00 / f.f. x ------- N ------- - - - - -- ------ 0.00 = - - - - -- ------ - - - - -- $0.00 - - - - -- COST SCHEDULE (4) 84•" Main $52.00 / f.f. x 90 Main $55.00 / f.f. x 96 Main $58.00 / f.f. x X144 5 7PAGE 75 N 0.00 = $0.00 ------- - - - - -- ---- - - - - -- N 0.00 = $0.00 N 0.00 = $0.00 Utility Underground Fee 431- 2600 -3- 680300 $0.00 Front Footage 100% $0.00 $118.36 / f.f. x N 0.00 Traffic Impact Fee 433 - 2600 -3- 681000 $38,178.00 100% $38,178.00 Single Family Res $2,727.000 /d.u. Y $38,178.00 High Density Res Commercial High- traffic (> 4 trips /1000 sf) Commercial Low- traffic (<= 4 trips /1000 sf) Industrial General $2,209.000 /d.u. Y $0.00 $6.083 /gross s.f. Y $0.00 $3.000 /gross s.f. Y $0.00 $1.175 /gross s.f. Y $0.00 Industrial Warehouse $0.866 gross s.f. Y $0.00 Sewer Development Fee 435- 2600 -3- 671000 a.Single Family Residential: 100% $2,186.00 / dewelling unit Y $30,604.00 b.High Density Residential: $0.00 / dewelling unit Y $0.00 c.Commercial /Industrial: $825.00 / 100 gals. /day or Y $0.00 $2,186.00 , whichever is greater =------ - - - - -- d.Additional allocation for $30,604.00 $30,604.00 existing service that does not 25% of sewer development fee have a sewer allocation agreement: Y/N N Country Estates Sewer Trunk Main $0.00 (Not Included) ------ - - - - -- Obata Industrial Park Credits (Based on reimbursements due from oversized sewer facilities) Obata Fee Credit $531.00 /acre $0.00 COST SCHEDULE (5) Water Development Fee 436- 2600 -3- 695000 $15,050.00 100% $15,050.00 a.Single Family Residential: $1,075.00 / dewelling unit Y $15,050.00 b.Commercial /Industrial: $1,123.00 / 1,000 gals. /day or Y $0.00 c.Additional allocation for existing service that does not 100% of water development fee have a water allocation agreement: Y/N N Obata Industrial Park Credits (Based on reimbursements due from oversized water facilities) Obata Fee Credit $154.00 /acre $0.00 Water User Fee (Construction) 720 - 0433 -3- 690000 Y $2,903.88 100% $2,903.88 $2.58 / f.f. + $168.14 /a.c. Bonds and Securities 801 - 0000 -2- 229015 * $357,504 * Not included in TOTAL DUE ------ - - - - -- (est) TOTAL DUE CITY $123,498.06 100% $123,498.06 NOTE: All deferred and /or estimated fees will be adjusted to the rates in effect at the time Building Permits are issued. The undersigned agrees to provide actual construction costs for recalculation of fees and pay any underestimated fees prior to final acceptance. If the recalculated fees are less than the estimate, the City of Gilroy will refund the difference. Accepted by: _ Date: S--/7- — / 7 COST SCHEDULE (6) f44-6 7PAGE0753 NORTHWEST QUADRANT SEWER REIMBURSEMENT DATE MONTH -YEAR 4 - 94 PROJECT:HILLCREST III 14 ----------------------------------------------------- OWNER/DEVELOPER:Kaufman and Broad 949 Units ----------------------------------------------------- DEVELOPMENT AGREEMENT:94 -26 -------- - - - - -- Shares ------ - - - - -- 149 I. Project Cost 73 7.692% Total Cost $298,381.35 / 1500 = $198.92 /Unit II. Developer ------ Units - - - - -- ------ Shares - - - - -- -------- - - - - -- MEADS I, II & III 149 15.936% OVERLAND I & II 73 7.807% BRENTWOOD (C.H. I, II & III) 116 12.406% GLEN LOMA (D.P. I, II & III) 119 12.727% DOLLAR 44 4.706% MARTIN 33 3.529% RANCHO REAL 17 1.818% RANCHO HILLS 60 6.417% COUNTRY ESTATES 58 6.203% SOUTH COUNTY HOUSING 24 2.567% LYON /ARCADIA DEVELOPMENT CO. 76 8.128% SCHAAL 111 11.872% LYON /ARCADIA DEVELOPMENT CO. 55 5.882% III. New Developer KAUFMAN & BROAD IV. Recommended Shares Based on ------------------------ - - - - -- Developer MEADS I, II & III OVERLAND I & II BRENTWOOD (C.H. I, II & III) GLEN LOMA (D.P. I, II & III) DOLLAR MARTIN RANCHO REAL RANCHO HILLS COUNTRY ESTATES SOUTH COUNTY HOUSING LYON /ARCADIA DEVELOPMENT CO. SCHAAL LYON /ARCADIA DEVELOPMENT CO. KAUFMAN & BROAD 935 99.998% Units 14 949 Units Units Shares ------ - - - - -- 149 ------ - - - - -- 15.701% 73 7.692% 116 12.223% 119 12.540% 44 4.636% 33 3.477% 17 1.791% 60 6.322% 58 6.112% 24 2.529% 76 8.008% 111 11.697% 55 5.796% 14 1.475% 949 99.999% NORTHWEST QUADRANT (1) N4 6 7 PAGE 0754 ,'V. Cost of Money Computation ------------------------------ -. Development- Units Built are - 935 x $198_92- - $185,990 - -- -- Project Cost $298,381.35 - $185,990 = $112,391 Cost 1.00% per month since 1 -1 -86 equals 99 %= $111,267 Add Back Project Cost + $298,381 Total Cost $409,648 VI. Contributions from New Developers ------------------------------------------- Developer Shares Contribution City Fee -------- - - - - -- -------- - - - - -- ------ - - - - -- ------ - - - - -- KAUFMAN & BROAD 0.01475 $6,042 $60 ------ - - - - -- ------ - - - - -- Total Contribution $6,042 $60 VII. CITY FEE EQUALS 1.00% of contribution CONTRIBUTION TO BE DISTRIBUTED Distribution of Fees ------------------------ - - - - -- Developer MEADS I, II & III OVERLAND I &_ II BRENTWOOD (C.,H. I, II & III) GLEN LOMA (D.P. I, II & III) DOLLAR MARTIN RANCHO REAL RANCHO HILLS COUNTRY ESTATES SOUTH COUNTY HOUSING LYON /ARCADIA DEVELOPMENT CO. SCHAAL LYON /ARCADIA DEVELOPMENT CO. CITY OF GILROY DEVELOPERS USE ACCOUNT CITY OF GILROY USE ACCOUNT NORTHWEST QUADRANT (2) Total Contribution $6,102 $6,102 $6,042 UNITS SHARES DISTRIBUTION 149 15.936% $963 73 7.807% $472 116 12.406% $750 119 12.727% $769 44 4.706% $284 33 3.529% $213 17 1.818% $110 60 6.417% $388 58 6.203% $375 24 2.567% $155 76 8.128% $491 111 11.872% $717 55 5.882% $355 0 0 $60 ------ - - - - -- ------ 935 - - - - -- ------ 99.998% - - - - -- $6,102 801 - 0000 -2- 229015 100 - 2600 -3- 600400