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■ The Remainder Area Apportioned Property will be apportioned 70.10% of the Major Improvements, which equals $605,488 as shown on Exhibit B-1, of which all or a portion is anticipated to be levied at a later date; and ■ At the time the City Council approves this Service and Assessment Plan, the Developer shall own 100% of the Remainder Area. The Developer acknowledges that the Major Improvements confer a special benefit on the Remainder Area and consents to the apportionment of the Remainder Area portion of costs in anticipation of a future levy of Assessments by the City Council to pay for all or a portion of the Remainder Area portion of costs associated therewith. The Developer shall ratify, confirm, accept, agree to, and approve: (1) the determinations and findings by the City Council as to the special benefits described herein; (2) this Service and Assessment Plan; and (3) the Apportionment of Costs on the Remainder Area Apportioned Property. D. Annual Collection Costs The Annual Collection Costs shall be paid for annually by the owner of each Parcel pro rata based on the ratio of the amount of outstanding Assessment remaining on the Parcel to the total outstanding Assessment. The Annual Collection Costs shall be collected as part of and in the same manner as Annual Installments in the amounts shown on the Assessment Roll, which may be revised based on Actual Costs incurred in Annual Service Plan Updates. E. Interest The interest on the Improvement Area #1 Assessment securing the Improvement Area #1 Reimbursement Obligation shall be collected at rates established in this Service and Assessment Plan, as shown on Exhibit F-2, pursuant to the Improvement Area #1 Reimbursement Agreement as part of the Improvement Area #1 Annual Installment pursuant to the Improvement Area #1 Reimbursement Agreement, which will not include Additional Interest unless and until Improvement Area #1 Bonds are issued. SECTION VI: TERMS OF THE ASSESSMENTS Any reallocation of Assessments as described in this Section VI shall be considered an administrative action of the City and will not be subject to the notice or public hearing requirements under the PID Act. A. Reallocation of Assessments 1. Upon Division Prior to Recording of Subdivision Plot FORESTBROOK PUBLIC IMPROVEMENT DISTRICT NO. 1 16 SERVICE AND ASSESSMENT PLAN