2025-022 - Approve the Reimbursement Agreement with Forestbrook Public Improvement District No. 1 – Lone Star Planned Developments, LLC

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Assessments, including Prepayments, Annual Installments, and Foreclosure Proceeds, as may be further defined in the SAP. "Assessment Roll" means any assessment roll for the Assessed Parcels within the District, as updated, modified or amended from time to time in accordance with the procedures set forth in the SAP and in the Act including updates prepared in connection with the issuance of PID Bonds or any annual service plan update, as may be further defined in the SAP. "Bond Indenture" means the indenture of trust pursuant to which a series of PID Bonds are "Bond Proceeds"" ds " D P" mean the proceeds derived from the issuance and sale of a series of PID Bonds that are deposited into the PIIS Fund under the Bond Indenture and made available to pay PID Project Costs, including costs of issuance of the PID Bonds, and design, engineering, construction and inspection costs in accordance with this Agreement and any Bond Indenture or SAP. "Bu �awz eted Cost" means the estimated cost for a PID Project as provided for in the SAP. "Certificate for Payment" means a certificate (substantially in the form of Exhibit A or as otherwise approved by the Developer and the City Representative) executed by a representative of the Developer and delivered to a City Representative for approval, specifying the work performed and the amount charged (including materials and labor costs) for PID Project Costs, and requesting payment of such amount from the appropriate account or funds. Each certificate shall include supporting documentation in the standard form for City construction projects and evidence that the PID Projects covered by the certificate have been inspected by the City. "Citv Council" means the governing body of the City. "CitRepresentative" means the person. authorized by the City Council to undertake the actions referenced herein. 44Closiggy DisbursementRec esf'means a request in the form of Exh.ibit B or as otherwise ju approved by the Parties and the trustee named in the applicable Bond Indenture. "Default" is defined in Section 4.6. L "Delin gygegntQ., ollection Costs" means costs related to the foreclosure on an Assessed Parcel and the costs of collection of delinquent Assessments, delinquent Annual Installments, or any other delinquent amounts due under the SAP, 'including penalties and reasonable attorney's fees actually paid, but excluding amounts representing interest and penalty interest, as may be further defined in the SAP. " I evelo ler Advances" mean advances made by the Developer to pay PID Project Costs. �1 ' Developer Continuing Disclosure AZ!gqqt" means the Continuing Disclosure Agreement of the Developer executed contemporaneously with the issuance and sale of a series of PID Bonds. Reimbursement Agreement Forestbrook Public Improvement District No. 1 Page 3 01 581.000001\4908-922'x-3155.0