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• • <br /> that the Property Owner may be reimbursed for the Sanitary Sewer Extension is an amount <br /> totaling Thirty Three Thousand, Five Hundred and Fifty Dollars and Seventy-Nine Cents <br /> ($33,550.79) less Town administrative fees as set forth in Paragraph 9. <br /> AGREEMENT <br /> NOW, THEREFORE, for good and valuable consideration, the receipt of which is <br /> hereby acknowledged, the parties hereby agree as follows: <br /> 1. The Town will collect the Usage Fee for each Future User as indicated in <br /> Exhibit B upon a request or a Town requirement for hook-up to the Sanitary <br /> Sewer Extension by each Future User. After a request by a Future User or <br /> a Town requirement of a Future User to contribute additional sewage to the <br /> Sanitary Sewer Extension by connecting to the Sanitary Sewer Extension,the <br /> Town shall be entitled-to collect the Usage Fee at any time prior to the hook <br /> up by such Future User to the Sanitary Sewer Extension. Upon collection of <br /> the Usage Fee from each Future User, the Town shall deduct an <br /> administrative fee of five percent(5%)from the Usage Fee in accordance with <br /> Paragraph 9 of this Agreement. <br /> 2. On December 31 of each year for which this Agreement is in effect, the Town <br /> shall pay to Property Owner any and all funds collected pursuant to <br /> Paragraph 1 above, less the five percent (5%) administrative fee more <br /> particularly described in Paragraph 9. The Town shall make the check <br /> payable to Maria Anne Moran Olcott and shall send such check to Property <br /> Owner at 12950 Brendel Drive, Los Altos Hills, CA 94022. Property Owner <br /> agrees to indemnify and hold harmless the Town from any claims, costs or <br /> expenses incurred by the Town in connection with any claim by any person <br /> or entity with respect to this Agreement, the associated costs or the Usage <br /> Fees. <br /> 2 <br /> N:IDATA\Clients\L\LAH\Projects\Olcott\SewReimb.AGM <br />