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<br />2. COMPENSATION AND METHOD OF PAYMENT <br /> <br />A. Nexus shall, within sixty (60) days of execution of this Agreement, open an escrow <br />account at First American Title Insurance Company, 2 First American Way, Santa Ana, California, <br />or an equivalent escrow company approved in advance by Geneva Commons and Sandpointe, for <br />deposit of funds to be used to pay for the Nexus Improvements (referred to herein as the "Nexus <br />Escrow"). <br /> <br />B. Sandpointe shall deposit $1,000.00 into the Nexus Escrow on the Escrow <br />Submission Date no later than the date the of the fIrst payment made pursuant to paragraph 2.D. of <br />this Agreement. <br /> <br />C. Prior to the deadline specifIed in paragraph 2.0. of this Agreement, Nexus and <br />Geneva Commons shall meet and confer in good faith to agree upon the estimated cost of the Nexus <br />Improvements. If, at any time, either Geneva Commons or Nexus determines that such agreement <br />is not possible, then the objecting party shall submit its dispute in writing, together with any <br />evidence upon which it relies to the Executive Director of the City's Public Works Agency and the <br />other party. Within fIfteen (15) days of its receipt of said notice, the non-objecting party shall then <br />have fIfteen (15) days to submit any response it has to the City and the objecting party. The <br />Executive Director of the City's Public Works Agency or designee shall then, within thirty (30) <br />days of receipt of the response, if any, or the expiration of said deadline, inform both Geneva <br />Commons and Nexus in writing of the fInal determination of the estimated total cost, which all <br />parties agree shall be conclusive and binding upon both Nexus and Geneva Commons. Thereafter, <br />Nexus and Geneva Commons shall deposit their respective shares of the estimated cost of the Nexus <br />Improvements as set forth in paragraph LB. of this Agreement, less $1,000.00, into the Nexus <br />Escrow no later than the date specifIed in paragraph 2.0. of this Agreement. <br /> <br />D. Nexus shall pay into the Nexus Escrow no later than (i) the date the fIrst building <br />permit is issued by the City for the Nexus Project, or (ii) a date ninety (90) days after the issuance of <br />entitlements to Nexus, provided no litigation or referendum petition challenging Nexus has been <br />f1!ed and served on the City, whichever comes later. Geneva Commons shall pay into the Nexus <br />Escrow no later than (i) the date the fIrst building permit is issued by the City for the Geneva <br />Commons Project, or (ii) a date ninety (90) days after the issuance of entitlements to Geneva <br />Commons, provided no litigation or referendum petition challenging Geneva Commons has been <br />f1!ed and served on the City, whichever comes later. <br /> <br />, <br />