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<br />CONSTRUCTION AND COST REIMBURSEMENT AGREEMENT <br /> <br />THIS AGREEMENT ("Agn:ement") is made this _ day of , 2007, <br />by and between the CITY OF LOUISVILLE, STATE OF COLORADO, a Colorado municipal <br />corporation ("City"), and the COLORADO TECH CENTER METROPOLITAN DISTRICT, a <br />quasi-municipal corporation and political subdivision of the State of Colorado ("District"). <br /> <br />RECITALS <br /> <br />WHEREAS, CTLC Investors, LLC entered into a Subdivision Agreement to develop <br />property known as the Colorado T,echnological Center Filing No.2, recorded in the records of <br />the Clerk and Recorder of Boulder County on November 13, 2003 at Reception No. 2527193 <br />(the "Subdivision Agreement"); and <br /> <br />WHEREAS, pursuant to Section 2.4 of the Subdivision Agreement, District is to <br />construct South 104th Street and Dillon Road during Phase I of the Colorado Technological <br />Center Filing No.2 ("Filing No. 2")1; and <br /> <br />WHEREAS, District will construct Dillon Road from 104th to the west property line of <br />Filing No.2, as well as construct 104th from Dillon Road to Cherry Street, and a stormwater <br />outfall from Dillon Road at the southwest comer of Filing No.2 to Cherry Street, pursuant to <br />construction plans approved by the City (the "Street Improvements"); and <br /> <br />WHEREAS, the City has agreed to credit certain costs towards the cost of the <br />construction of Dillon Road as its portion of the costs for construction for the south side of the <br />Street Improvements, as set forth in Exhibit A; and <br /> <br />WHEREAS, upon completion and City acceptance, the Street Improvements will be <br />owned and operated by the City; and <br /> <br />WHEREAS, the City will construct in a future project certain roadway and drainage <br />improvements on Dillon Road, as identified in Exhibit A, which improvements will be for the <br />benefit of District (the "Future Project"); and <br /> <br />WHEREAS, District has agreed to credit certain costs towards the cost of the Future <br />Project as set forth in Exhibit A; and <br /> <br />WHEREAS, pursuant to Colo. Const. Art. XIV, Section l8(2)(a) and Section 29-1-203, <br />c.R.S., the City may contract with the District to share costs related to the design, construction, <br />and installation of the Street Improvements; and <br /> <br />WHEREAS, the District and City have determined that this Agreement is in the best <br />interests of their respective present and future inhabitants and taxpayers. <br /> <br />1 <br />