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<br /> December 31, 1972, but no SAC unit Cha~e5 were paid. According- <br />. ly, there are no SAC oredits to be applied against future con- <br /> struction or ccmnections. on the Property. <br /> 1.4 The parties to this Agreement wish to settle arrange- <br /> ments whereby SAC chargee are paid and credits fer the Property <br /> are .stAblished to be applied against future construction or <br /> connection permits on the Property. <br /> 1..5 SAC charg.s are the responsibility of the Community in <br /> which the construction or connection ~ctivity takes place. The <br /> Community obtains the funds for paying such SAC charves by adding <br /> the KWCC's charge onto its own local conneotion or building <br /> plilr1llits. <br /> I. BloC CDRGI!l Ra'1'JI DD P1Yl1E1f~. <br /> 2.1. It 1s agreed among the parties that SAC payment for the <br />. Property will be mad. in the followinq manner; <br /> 2.1.1 ~he co~t for each SAC unit will be ba.ed on <br /> the 1"5 SAC rat. Qf $32.5.00 per r8.i~.ntial <br /> equivalent unit. <br /> 2.1.2 Based on MWCC policy in 1975 regarding trail- <br /> er court units, SAC charges for units within <br /> the Property will be baaed on eighty percent <br /> (Bot) ot the residential equivalent unit cost <br /> ot $325.00, i... $260.00. <br /> 2.1.3 One Hundred Sixty (160) SAC reliidential <br /> equivalent credits viII be obtained by the <br /> pa~ent of $52,000.00 to the Commission pur- <br /> suant to this Aqre.ment. This number is <br /> calculated as follows: <br /> (200 lots x .8 REU/lot) x $325/REU = $52,000 <br /> 2.2 The total principal SAC payment shall bear interest at <br /> the rat. Of 8~ per annum and 5hall oe9in to accrue from the date <br />. 2 <br />