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"Deyveekojiment Aement" means that certain Forestbrook Development Agreement, <br />effective as of October 14, 20249 by and between the Developer and the City, pertaining to the <br />construction and installation of certain PID Projects, as described therein and benefitting the PID. <br />"Failure" is defined in Section 4.6.1. <br />"Final Completion" means completion of a PID Project in compliance with existing City <br />standards under the City's ordinances and the Development Agreement. <br />"Foreclosure Proceeds" means the proceeds, including interest and penalty interest, <br />received by the City from the enforcement of the Assessments against any Assessed Parcels, <br />whether by foreclosure of lien or otherwise, but excluding and net of all Delinquent Collection <br />Costs. <br />"Imorovement Area." means a specifically defined and designated portion of the PID that <br />is developed as a separate phase. Each Improvement Area shall be identified in the SAP. <br />' <br />"Maturity _ Iia tte," with respect to any Improvement Area, is the date one year after the final <br />scheduled and non -delinquent Annual Installment for an Assessment in the Improvement Area is <br />collected. <br />"PID" means the Forestbrook Public Improvement District No. I created by the PID <br />Creation Resolution. <br />"PID Bonds" means the bonds issued pursuant to the provisions of the Act in one or more <br />............... <br />series to fund PID Project Costs or to reimburse the Developer for Developer Advances. <br />"PID'" Creation Resolution" means Resolution No. 2024-044 passed and approved by the <br />City Councilon October 14, 2024, authorizing the creation of the PID. <br />"PID Pied a ed Revenue Fund" means the Pledged Revenue Fund, as defined in a Bond <br />Indenture,, established or to be established by the City (and segregated from all other funds of the <br />City) into which the City deposits Assessment Revenue securing the applicable series of PID <br />Bands issued and still outstanding, as described in the applicable Bond Indenture. <br />Project Costs" mean the Actual Costs of the PID Projects. <br />'TID Pro r0iects. <br />"P ID, o <br />Fund" means the Project Fund, as defined 1 in a Bond Indenture, including all <br />accounts and subaccounts created within such fund, established or to be established by the City <br />(and segregated from all other funds of the City) into which the City deposits Bond Proceeds of <br />the applicable series of PID Bonds in the amounts and as described in the applicable Bond <br />Indenture. <br />"PID Pro`,+acts" means the public improvements or services authorized by Section 372.003 <br />of the Act to be constructed or acquired by or on behalf of the Developer within the PID and <br />described and defined in the SAP, whether the SAP defines such public improvements or services <br />as PID Projects or utilizes another tern. <br />Reimbursement Agreement <br />Forestbrook Public Improvement District No. I Page 4 <br />0185 81.000001 \4908-9229-3155. v5 <br />