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• • D. The Town and Property Owners now desire to provide for reimbursement to Property Owner by each Future User for that Future User's pro-rata share ("Usage Fee") as shown in Exhibit B, attached hereto. The Town and Property Owners acknowledge that the total amount that the Property Owners may be reimbursed for the Sanitary Sewer Extension is an amount totaling two hundred eighty-seven thousand, eight hundred and sixty dollars ($287,860), less Town administrative fees as set forth in Paragraph 2 herein ("Reimbursement Amount"). AGREEMENT NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereby agree as follows: 1. The Town will collect the Usage Fee for each Future User as indicated in Exhibit B upon a request by a Future User to connect to the Sanitary Sewer Extension ("Connection Request"), or upon notice to a Future User that it is subject to a Town requirement that the Future User connect to the Sanitary Sewer Extension ("Connection Requirement Notice"). The Town shall be entitled to collect the Usage Fee at any time after a Connection Request or Connection Requirement Notice, and prior to a hook-up by a Future User to the Sanitary Sewer Extension. 2. Upon collection of the Usage Fee from a Future User, and prior to remitting any funds to Property Owners, the Town shall deduct an administrative fee of five percent (5%) from the Usage Fee to pay the costs incurred by the Town in connection with the administration of this Agreement. ("Administrative Fee"). 3. On December 31 of each year during which this Agreement is in effect, the Town shall pay to Property Owners any and all funds collected pursuant to Paragraph 1 above, less the Administrative Fee. The Town shall make the check payable to Firooz Ghaffari and Ravikanth Ganesan and shall send such check to Property Owners 2 L:\engineering\mcheng\Report CC\2003\0515\SwrRmbGhff.doc