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4. Fees. The Developer herein agrees to pay all City fees required per City Ordinance and further agrees to completely reimburse the City for all the costs it incurs including, but not limited to, direct City payroll costs, fees paid to consultants and other professionals, and the costs of printing, mailing and supplies. In addition to the above, the Developer herein also agrees to pay the charges for City Engineering personnel time involved in consultation with the Developer and his engineer for review of grading and utility plans and general and final inspection of streets and utilities and final plat processing. 5. Time for Performance; Completion by City on Default. Developer agrees to complete the improvements required by this Agreement on or before August 1, 1988. In the event Developer fails to complete the said improvements within the time provided by this Agreement, then the City may, at its option, bring an action in a court of competent jurisdiction for an order compelling Developer to complete the improvements or the City may complete the improvements or cause the same to be completed. In either case, Developer agrees to pay, in addition to the cost of completing said improvements, any reasonable legal, engineering or other fees or expenses incurred by the City in connection with the completion thereof or the enforcement of this agreement upon default of the Developer. 6. Bindinq Effect. The terms and provisions hereof shall be binding upon and inure to the benefit of the heirs, representatives, successors and assigns of the parties hereto and shall be binding upon all future owners of all or any part of the Subdivision and shall be deemed covenants running with the land. References herein to Developers, if there be more than one, shall mean each and all of them. This Agreement, at the option of the City, shall be placed of record so as to give notice hereto to subsequent purchasers and encumbrancers of all or any part of the Subdivision and all recording fees, if any, shall be paid by the Developers. 7. Notices. Whenever in this Agreement it shall be required or permitted that notice of demand be given or served by either party to this Agreement to or on the other party, such notice or demand shall be delivered personally or mailed by United States mail to the addresses hereinafter set forth by certified mail (return receipt requested). Such notice or demand shall be deemed timely given when delivered personally or when deposited in the mail in accordance with the above. -3-