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3 Unless otherwise unanimously agreed upon, one of the Parties will provide financing for the cost to construct a station (the “Financer City”), including any costs associated with the financing, and each of the other Parties will annually reimburse t the Financer City for its portion of the debt service payment based on the cost formula. Should a station be constructed in the allotted timeline for reimbursement of the land acquisition costs, the Financer City will include the land acquisition costs in the financing and each Party will be repaid via the financing proceeds for their portion of the land acquisition. If the Station is not constructed in the time frame that is necessary to include the property acquisition costs as part of the financin g, each Party will be responsible for their proportionate share of the property acquisition costs in accordance with the cost share formula in effect at the time. 2.4 Bond repayment. The bond issue will be repaid through annual appropriations by each Party consistent with the cost share formula calculated and adjusted annually to account for growth and development in each respective City. 2.5 Station Construction. Station construction will begin no later than June 30, 2026, unless an alternative date is unanimously agreed upon by the Parties. 2.6 Development Approvals. The City of Arden Hills will review the proposed project as part of its normal development process. 2.7 Option to Acquire. Should the Lake Johanna Fire Department no longer serve the City of Arden Hills or no longer use, occupy, or otherwise cease to operate in the fire station, the fire station, at the discretion of the JPA, may be used by a successor organization that provides fire protection to the Parties. Should no acceptable successor organization be identified the City of Arden Hills will have the option to reimburse the other two Parties, the Cities of Shoreview and North Oaks, for their respective contributions to the purchase of the Property, construction of the fire station, and any applicable capital improvements to the station plus inflation as measured by the Consumer Price Index (CPI) and take ownership of the land and associated buildings. 2.8 Project Abandonment, Option. If the project does not move forward and the station is not constructed, the City of Arden Hills will have the option to reimburse the other Parties for their direct cost to acquire the land and take ownership of the land. Should the City of Arden Hills not exercise this option, the land shall be sold if 2/3 of the parties agree and the proceeds will be divided amongst the Parties and fire department based on their initial direct cost for the land purchase of the Property.