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agrees to make the additional deposit within (10) days of a receipt of such notice. For purposeshereof, receipt of notice shall be deemed made upon the depositing of the notice in the U.S.Mail/ postage paid. In the event, the Applicant fails to make the additional deposit with (10)days of receipt of the notice, the City will terminate its review process and not re-commenceuntil the appropriate deposit is made and posted by the City's Finance Department.e. No applications will be processed or forwarded to the appropriate governing reviewingbody by the City until all amounts due under this Agreement have been paid in full.5. Positive Balance in Escrow Accounts. Upon the happening of any of the following events, thebalance in the deposit account less outstanding fees shall be paid to the Applicant within (90)days of receipt by the City of a written request by the Applicant for payment: (1) completion ofthe development process; or (2) the application is withdrawn by the Application; (3) theapplicant is denied by the City for any reason.6. Deposit Amounts. The initial deposit amount contemplated for each the purposes describedunder the Agreement, which may be revised by the City from time to time, are set forth forExhibit //B" attached hereto.7. Accounting. If there has been activity in the account, the City will provide a monthlyaccounting of all expenses charged against the account or when requested by the Applicant. Anaccounting will also be provided when the City notices the need for an additional escrowdeposit.8. Terms of Breach. In the event of any terms of this Agreement are breached by theApplicant, including, but not limited to failure to make additional deposits when required by theCity, the City may cease processing any application submitted by the Applicant or order theApplicant to cease any further development or progress under the terms of this Agreement, orboth. Applicant indemnifies and holds the City harmless from any liability, claim, action or suitby or any obligation to the Applicant arising from or in connection with the City exercising orenforcing the terms and conditions of this Agreement or action on the Application. TheApplicant shall pay all costs and expenses, including reasonable attorney fees and suit costs,incurred by the City arising from or in connection with the City any terms and conditions of thisAgreement.9. Validity. If any portion, section, subsection, sentence, clause, paragraph or phrase of thisAgreement is for any reason held to be invalid, such invalidity shall not affect the validity of theremaining portion of this Agreement.10. Binding Agreement. The parties mutually recognize and agree that all terms and conditions ofthis Agreement shall run with the land herein described and shall be binding upon the heirs,successors, administrators and assigns of the parties referenced in this Agreement.11. Amendments. The terms of this Agreement shall not be amended without the written consentof the City and all parties hereto.[ Signature Page Follows ]