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from being developed for any use which could support the Estimated Buildout Value <br />requirement, the owner shall, upon receipt of the compensation for the Taken Property, be <br />required to prepay the amount of the Assessment required to buy down the outstanding <br />Assessment to the applicable Maximum Assessment on the Remaining Property to support the <br />Estimated Buildout Value requirement. The owner will remain liable to pay the Assessment on <br />both the Taken Property and the Remaining Property until such time that such Assessment has <br />been prepaid in full. <br />Notwithstanding the previous paragraphs in this subsection, the Assessments shall never be <br />reduced to an amount less than the amount required to pay all outstanding debt service <br />requirements on all outstanding PID Bonds. <br />SECTION VII: ASSESSMENT ROLL <br />The Improvement Area #1 Assessment ROTI is attached as Exhibit F-1. The Administrator shall <br />prepare and submit to the City Council for review and approval proposed revisions to the <br />Improvement Area #1 Assessment Roll and Improvement Area #1 Annual Installments for each <br />Parcel as part of each Annual Service Plan Update. <br />SECTION VIII: ADDITIONAL PROVISIONS <br />A. Calculation Errors <br />If the owner of a Parcel claims that an error has been made in any calculation required by this <br />Service and Assessment Plan, including, but not limited to, any calculation made as part of any <br />Annual Service Plan Update, the owner's sole and exclusive remedy shall be to submit a written <br />notice of error to the Administrator by December 15Y of each year following City Council's <br />approval of the calculation. Otherwise, the owner shall be deemed to have unconditionally <br />approved and accepted the calculation. The Administrator shall provide a written response to <br />the City Council and the owner not later than 30 days after receipt of such written notice of error <br />by the Administrator. The City Council shall consider the owner's notice of error and the <br />Administrator's response at a public meeting, and, not later than 30 days after closing such <br />meeting, the City Council shall make a final determination as to whether an error has been made. <br />If the City Council determines that an error has been made, the City Council shall take such <br />corrective action as is authorized by the PID Act, this Service and Assessment Plan, the applicable <br />Assessment Ordinance, the applicable Indenture, or as otherwise authorized by the discretionary <br />power of the City Council. The determination by the City Council as to whether an error has been <br />made, and any corrective action taken by the City Council, shall be final and binding on the owner <br />and the Administrator. <br />, i r <br />/�1 Jl!!, /, fd�ii�l!�Nl�ilV,flW,/NIr�Al1lANfff�(fff, <br />� r i l l Ill Ill..%111llllllllllllllllllllll�!![ffI011J!{llllk!!r/(ffrff((&fft�!/ GI11Nl�!('� <br />lOD%pl�All�ll�(�llll�llLl�lO!!!!ll�I�10111rlllllll>lf01�1!>)»»»»»»��911�1111!iU»AI�I�JAI�ll�il�l�fl�lll�((((((((i(((IVIIVUAfIIIIIV➢��ll1D1UJU17N6i1�(111111��`NNiV00fQ111J01�dIl�IllolllL�(l�lU�lil/l�//l//�0l//%%%%%%%%%/// /!! <br />FORESTBROOK PUBLIC IMPROVEMENT DISTRICT NO. 1 23 <br />PRELIMINARY SERVICE AND ASSESSMENT PLAN <br />