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REIMBURSEMENT AGREEMENT <br />This Reimbursement Agreement ("Agreement") is made this Z,"a day of October, <br />2007, by and between the City of Colton, a California municipal corporation ("City"), and 105 <br />Cypress Association, LLC, a California limited liability company ("Developer"). City and <br />Developer are sometimes individually referred to as "Party" and collectively referred to as <br />"Parties" herein. <br />RECITALS <br />This Agreement is made with respect to the following facts: <br />A. Developer, through its affiliates and related entities, is the owner of real property <br />located at 105 Cypress Avenue, in an unincorporated area of San Bernardino County, near the <br />City of Colton ("Property"). Developer proposes to develop all or a portion of the Property; and <br />B. Developer has asked the City to annex the Property to allow the Property to <br />connect to the City's sewer system; and <br />C. The City is agreeable to annexing the Property and allowing it to be connected to <br />the City's sewer system after annexation; and <br />D. As part of the annexation process the San Bernardino County Local Agency <br />Formation Commission ("SB-LAFCO") must review and approve the proposed annexation of <br />the Property; and <br />E. City, on behalf of the Developer, is willing to go forward with the annexation of <br />the Property, provided Developer pays all costs and fees associated with the annexation, <br />including but not limited to legal and administrative costs of the City and any costs incurred as a <br />result of the SB-LAFCO review process ("Annexations Costs"); and <br />F. As a condition to the City's submittal of the annexation request to SB-LAFCO, <br />Developer has agreed to provide City with a minimum deposit amount to pay for the Annexation <br />Costs and to reimburse the City for any additional Annexation Costs related to the annexation. <br />AGREEMENT <br />NOW, THEREFORE, in consideration of the following mutual promises and <br />agreements, City and Developer agree as follows: <br />1. Incorporation of Recitals. The Parties agree that the Recitals constitute the factual <br />basis upon which the City and the Developer have entered into this Agreement. The City and the <br />Developer each acknowledge the accuracy of the Recitals and agree that the Recitals are <br />incorporated into this Agreement as though fully set forth at length. <br />ORANGE\MTORRESl39830.1 <br />