VDC AT THE MET, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY

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2, COMPENSATION AND lViMOD OF PA'YMBNT A, Nexus shall, within sixty (60) days of oxevution oftlus Agreement, open an escrow account at First American Title Insurance Company, 2 First Attteriean Way, Santa Ana, California, or an equivalent escrow company approved in advance by Cleneva Convnons and Sandpointo, for deposit of lends to be used to ray for the Nexus Improvements (referred to herein as tho "Nexus F-scrow"). B. Sandpointo shall deposit $1,400,00 into thoNexus Escrow on tho Escrow Submission Date no later than Hie dnte the of the first payment made piquant to paragraph 2.D, of this Agreement, C. Prior to the deadline specified in paragraph 2.D, of Us Agreement, Nexus and Genova Commons shall meet and confer In good faith to Agree upon the estimated cost of dto .Noxus Igtprovemonts. If, of any limo, either Gcnova.Conimt ns or Nexus determines that such agreement is not possible, then the objecting party shall submit its dispute in writing, together wilt? any evidence upon which'it roller to the Executivo Director of the City's Public Works Ageney and rho other party , Within ilileon (15) days of its receipt of said notice, the non•objectlng party shall then have flftcen (IS) days to submit any response it has to the City and the objecting party, Tho Executive Director of the City's Public Works Agoncy or design co shall then, within thirty (30) stays of receipt of the response, if any, or the expiration of said deadline, inform both Gonova Commons and Nexus in writing of the final determination of the estimated total cost, wltioh all parties agree shall be conclusive and binding upon both Nexus and Geneva Cotnnions. Thoreafler, Nexus and Geneva Coimnons shall deposit their respective shares of the estimated cost ofihe. Noxus Improvements as set forth in paragraph 1,13. of this Agreement, less $1,000,00, into the Nexus Escrow no later than rho data specified in paragraph 2.D, of this Agreement. D. Nexus shall pay into thoNexus Escrow no later than (1) the date tho first building permit is issued by the City for the Noxus Project, or (ii) a date tunety (90) days alter the issuance of enlitlemenis to Nexus, provided no litigation or referendum petition challenging Noxus has been filed and solved on the City, whichever comes later. Geneva Cointnons shall pay into (fie Nexus Escrow no later than (i) tho date tho first building permit is issued by the City for the Oeneva Conunons project, or (ii) a date ninety (90) days afftr the issuance of entitlements to Genova Commons, provided no litigation or roferondum petltlort challenging Geneva Cornmons has been filed attd served on the City, whichever comes later, BXI-l1BIT D Ordinanos No. NS-2680 Page 32 of 51