1600 121ST ST SE 2016-01-01 MF Import

�GREEMFNT NOW, THEREFORE, for the mutual benefits and obligaticns contained herein, �nd lor other good and v2tuable consideration, the receipt of which is hereby ackn��wledged, Developer �nd the District 2gree as follows: 1. Developer agrees to tully mitig2te the impacis caused by the prcpcsed devel��pment of the Project by the p2yment of 529,449.00 to the District. The payment of S2£i,448.00 is based upon the approximate number of unhoused studenls expec;ed to be enrolled irom 113 single family dwelling units. Any adjustment in the number of dwelling units shall result in a corresponding pro rata adjustment or refund in the mitigation payment. Said payment shall constitute a full and complete m;tigation for the direct impads to the District o1 the Project. 2. ��eveloper shall pay the proportionate share ol the sum identitied herein lor each phase ��1 the project prior to and as a condition o1 issuance ol building permits for each phase. 3. Developer hereby covenants and undertakes that it forever reirains and desists from Instituting, asseAing, filing or bringing any �2wsuit, litigation, claim, ch��fenge or proceeding to challenge this Agreement, claim any repayment or reimbursement oi tunds, perlormance or improvements provided for herein, or any ol its terms and conditions, on any ground or basis whatsoever.