Common use of Development Impact Fees Clause in Contracts

Development Impact Fees. Except as otherwise provided in this Agreement, only those Development Impact Fee in effect as of the Effective Date and as described on attached Exhibit B may be applied to the Project or the Property. All Project Development Impact Fees will be paid at the time the City issues certificates of occupancy unless otherwise noted in this Agreement. Any increase in a Development Impact Fee can be challenged by Owner, pursuant to City ordinance and state law. The Parties acknowledge that the provisions contained in this paragraph 3.4, and as set forth in Exhibit B, are intended to implement the intent of the Parties that Developer has the right to develop the Project pursuant to specified and known criteria and rules, and that the City receive the benefits which will be conferred as a result of such Development without abridging the right of the City to act in accordance with its powers, duties and obligations, except as specifically provided in this Agreement.