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3 <br />the allotted timeline for reimbursement of the land acquisition costs, Arden Hills will <br />include the land acquisition costs in the financing and each City will be repaid via the <br />financing proceeds for their portion of the land acquisition. If the Station is not <br />constructed in the time frame that is necessary to include the property acquisition <br />costs as part of the financing, each city will be responsible for their proportionate <br />share of the property acquisition costs in accordance with the cost share formula in <br />effect at the time. <br /> <br />or <br /> <br />Each City will be responsible for providing their financial contribution, bond <br />proceeds or otherwise, when needed for the construction of a new station. <br /> <br />2.4 Bond repayment. The bond issue will be repaid through annual appropriations by <br />each City consistent with the cost share formula calculated and adjusted annually to <br />account for growth and development in each City. <br /> <br />2.5 Station Construction. Station construction will begin no later than June 30, 2025, <br />unless an alternative date is mutually agreed upon by all three cities. <br /> <br />2.6 Development Approvals. The City of Arden Hills will review the proposed project <br />as part of its normal development process. <br /> <br />2.7 Municipal Fees. The City of Arden Hills will charge its customary development fees <br />unless the City of Arden Hills chooses to waive any of the said fees; these fees <br />include, but are not limited to, Metropolitan Council WAC/SAC, local WAC/SAC, <br />building permit and plan review, and park dedication fees. At the discretion of the <br />Parties, those fees may also be included in the Station financing or allocated per the <br />cost share formula. <br /> <br />3 Assignment, Amendments, Waiver, and Contract Complete <br />3.1 Assignment. No party may assign nor transfer any rights or obligations under this <br />Agreement. <br /> <br />3.2 Amendments. Any amendment to this Agreement must be in writing and will not be <br />effective until it has been signed and approved by the same parties who signed and <br />approved the original agreement, their successors in office, or other individual duly <br />authorized. <br />