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2804019 IIIIII VIII IIIIIII IIII IIII IIIIII IIIIII III VIII IIII IIII 09908/2008 02:34P Boulder County Clerk, CO RC R 41.00 D 0.00 4 Drive Roadway, Louisville agrees to require the developer to escrow one-fourth the cost of a traffic signal at the Cimarron Drive Roadway and So. Boulder Road intersection. Louisville further agrees that these escrowed funds will be paid to Lafayette upon the installation of a traffic signal at such intersection, or immediately transferred to Lafayette if such signalization occurred prior to the development. The amount escrowed shall be based upon an estimate mutually acceptable to Louisville and Lafayette (if escrowed prior to signalization) or upon certified construction (if escrowed after signalization). Exceptions to this paragraph_include: any remodeling or expansion of existing structures, demolition of existing structures, construction of new buildings, fences or other projects requiring a Louisville building permitthat are.ancillary to the current residential use.- h. Louisville agrees that, as part of the final approval of any development on the Santilli Property (other than the development set forth in the last sentence of paragraph g, above), Louisville shall require that the developer of the Santilli Property • make reimbursement payment for Cimarron Drive Roadway public improvements as provided for in the PEAK-SANTILLI AGREEMENT, the recording information of which is attached as Exhibit B: Louisville shall have no obligation for enforcement,of the PEAK-SANTILLI AGREEMENT, and shall not be responsible for collection or payment of reimbursement payments provided for in such AGREEMENT. i. . Both parties acknowledge that any development of the Santilli property, other than the development excepted in subparagraph g. above, will require an extension ® of Cimarron Drive, or provisions for construction of an adequate terminus for Cimarron Drive. 2. ACCESSES. The. parties agree that the Santilli property and the Eagle Place Townhomes property shall have access to Cimarron Drive. 3. CON TACT PERSONS. The contact persons for administering this Agreement shall be the Publie Works Director of both Parties. • 4. ASSIGNMENT. This Agreement shall not be assigned by either Party without prior written consent of the other Party. 5. DELAYS. Any delays in or failure of performance by any Party of its obligation under this Agreement shall be excused if such delays or failure are a result of acts of God, fires, floods, strikes, labor disputes, accidents, regulations or orders of civil or military authorities, shortages of labor or materials, or other causes, similar or dissimilar, which- are beyond the control of such Party. 6. INTEGRATION AND_AMENDMENT. This Agreement represents the entire agreement between the Parties and there are no oral or collateral agreements or understandings. This Agreement may be amended onl y b y an instrument in writing signed.by the Parties. If any provision of this Agreement,is held invalid or unenforceable, no other provision shall be affected 410 by such holding, and -all of the remaining provisions of this Agreement shall continue in full force and effect. Cimarron Drive IGA Page 3 of 8