COM 0759.011 1996-1998 - Laserfiche WebLink

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C. Prior to occupancy of any dwelling unit within the Property or prior to the issuance of an occupancy permit for the lodge, whichever occurs first, OCEANSIDE shall: (1) Complete construction of the roadway section from Keauhou to the makai extension of Haleki'i Street; and (2) Install a barricade or breakaway gate meeting with the requirements of the COUNTY Department of Public Works if, before the completion and opening of the entire Bypass Highway, a portion of said bypass is completed and opened, and said portion provides a connection to Haleki'i Street; d. In any event from the time construction commences, the entire Bypass Highway shall be completed within five (5) years provided that those certain circumstances as articulated in Paragraph (39) do not exist. 14. DEDICATION OF BYPASS HIGHWAY. The Bypass Highway shall be dedicated to the COUNTY in phases, if any, upon completion and the COUNTY shall accept said dedication within sixty (60) calendar days; provided that the Bypass Highway, as constructed, complies with plans and specifications for said highway as approved by the County. Following dedication of the Bypass Highway to the COUNTY, the COUNTY shall assume all responsibility and costs for operation, maintenance, repair or reconstruction of the Bypass Highway. 15. REIMBURSEMENT OF CONSTRUCTION COSTS FOR THE BYPASS HIGHWAY. a. Responsibility of Developer. OCEANSIDE shall be responsible for all costs associated with the design, land acquisition, construction of the Bypass Highway, including, without limitation, the costs associated with obtaining any necessary Approvals associated with the same ("Total Cost"); provided that, nothing herein shall be construed as preventing OCEANSIDE from seeking reimbursement for such costs and the total amount of reimbursement received by OCEANSIDE shall not exceed the difference between the Total Cost of the Bypass Highway and the "Project Impact Cost", as described in further detail in Paragraph (15.a.1). (1) Based on a development constituting seven hundred thirty (730) lots and eighty (80) lodge units ("Project Unit Count"), the Project constitutes approximately thirty-eight (38) percent of the total capacity of the Bypass Highway based upon a Level of Service "D" ("Project Impact"). Should OCEANSIDE develop less or more than the Project Unit Count, then the percentage of traffic attributable to the Project shall be adjusted accordingly. The Total Cost of the Bypass Highway multiplied by the Project Impact shall determine the Project Impact Cost. For example, if the Total Cost of the Bypass Highway is $1.0 million and the Project Impact is thirty-eight (38%) percent, the Project Impact Cost is $380,000.00. In such a case, OCEANSIDE shall then be eligible to receive no more than $620,000 of reimbursement ($1.0 million minus $380,000). 14