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issuance of a certificate of occupancy for Lot 1; however, any Improvements <br />not yet completed at the time a certificate of occupancy is issued for Lot 1 shall <br />require an amount of 125 percent of the estimated cost of the incomplete <br />Improvements, in a form acceptable to the City Attorney. <br />H. Reduction of Security. Upon completion of Arden Plaza's Improvements and <br />acceptance by the City, the City Council shall reduce the amount of security for <br />the completed Improvements, provided that, in no case, shall the total <br />remaining security be less than the 125 percent of the estimated cost of the <br />incomplete Improvements. <br />I. Development of Lot 2. Prior to the issuance of building permits for Lot 2, <br />Arden Plaza shall provide a long -term plan for the existing retail center and <br />parking lot as part of approval for Phase II. <br />Future Improvements /Assessments for the B -2 District Streetscape. The City <br />anticipates constructing streetscape improvements on County Road E, <br />adjacent to Lot 2. <br />1. Arden Plaza hereby agrees to waive its right to appeal any special <br />assessments levied against Lot 2 or Lot 3 for streetscape <br />improvements, associated with the implementation of the Guiding <br />Plan for the B -2 District, provided that: <br />a. Such special assessment does not exceed an amount equal to <br />$350 per lineal foot on County Road E; <br />b. The Property, subject to the terms of this Agreement, is <br />specially assessed in the same manner as other similarly <br />situated properties; <br />c. To the extent that the City, as part of its Streetscape <br />Improvement Project, does not remove any sidewalk <br />improvements constructed by Arden Plaza as part of this <br />Development Agreement, the City agrees to negotiate in good <br />faith with Arden Plaza to determine a credit for sidewalk <br />improvements when determining the assessment amount. <br />d. In the event that the City, as part of its Streetscape <br />Improvement Project, removes any sidewalk improvements <br />constructed by Arden Plaza as part of this Development <br />Agreement, Arden Plaza shall receive credit against its <br />Proposed Special Assessment for Streetscape Improvements <br />in the following manner: <br />i. If the Streetscape Sidewalk Improvements are <br />4 <br />