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260 9.10 Development Fees. Prior to the issuance of the building permit, the DEVELOPER 261 shall provide the CITY a cash payment covering their contribution towards the Twin 262 Lakes Infrastructure. The "Infrastructure Improvements for the Twin Lakes AUAR 263 Area — Final Report" as amended on December 15, 2005 indicates that the 264 DEVELOPER will be responsible for a total of $1,597,921.00 for transportation 265 infrastructure costs and a fee of $29,752 for utility infrastructure costs. However, as 266 part of the DEVELOPER'S project, the DEVELOPER will be constructing Iona Lane 267 and associated utility infrastructure and therefore the DEVELOPER will receive a 268 credit for constructing Iona Lane and other associated public infrastructure. The exact 269 amount and process to receive the credit will be addressed in the Interagency 270 Agreement to be entered into by the CITY and the DEVELOPER. 271 272 10.0 DEVELOPER DEFAULT: 273 10.1 For purposes of this AGREEMENT, the failure of the DEVELOPER to perform any 274 covenant, obligation or agreement of the DEVELOPER hereunder, and the continuance 275 of such failure for a period of thirty (30) days after written notice thereof from the City 276 shall constitute a DEVELOPER default hereunder. Within the sixty (60) day period after 277 notice is given, a request may be made for a hearing (by either party) to be held before 278 the City Council to determine if a default has occurred. Upon the occurrence of 279 DEVELOPER default and failure to cure, the City may withhold any certificate of 280 occupancy for improvements proposed to be constructed. 281 282 10.2 Notwithstanding anything herein to the contrary, the DEVELOPER may convey a parcel 283 or parcels of land within the subject property to a third party, and the conveyed parcels 284 shall remain subject to all of the terms of this PUD AGREEMENT specifically relating to 285 said parcels. In that case, the parties agree as follows: 285 287 a. A default by the DEVELOPER, or its successors in interest, in the performance of 288 the obligations hereunder, will not constitute a default with regard to the 289 conveyed parcel and will not entitle the CITY to exercise any of its rights and 290 remedies hereunder with respect to such conveyed parcel, so long as the owner of 291 the conveyed parcel otherwise complies with applicable provisions of this PUD 292 AGREEMENT . 293 294 b. A default with regard to a conveyed parcel will not constitute a default with 295 regard to the parcels retained by the DEVELOPER or other conveyed parcels, so 296 long as such retained or other conveyed parcels otherwise comply with applicable 297 provisions of this AGREEMENT. J 2 99 11.0 MISCELLANEOUS: 300 11.1 This AGREEMENT shall be binding upon the parties, their heirs, successors, tenants, or 301 assigns, as the case may be. 302 303 11.2 Breach of any material term of this AGREEMENT by the DEVELOPER shall be 7