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DocuSign Envelope ID: B6D3B7DC-lA4B-446A-91 F7 -60525A51 D9D2 REIMBURSEMENT AGREEMENT BETWEEN THE CITY OF THOUSAND OAKS AND CONEJO RECREATION AND PARK DISTRICT FOR THE RESURFACING OF PARKING LOTS IN CONJUNCTION WITH THE 2020 PAVEMENT OVERLAY & RESURFACING PROGRAM (CI 5503) THIS AGREEMENT ("Agreement"), dated this 31St day of March, 2020, is entered into by and between the City of Thousand Oaks, a municipal corporation, organized and existing under the laws of the State of California ("City"), and Conejo Recreation and Park District ("District"). WHEREAS, District owns the parking lots ("Property"), and will need certain improvements to the Property after the upcoming 2020 Pavement Overlay and Resurfacing City Capital Project (CI 5503); and WHEREAS, District is proposing to reimburse City for City's costs incurred to have City's contractor resurface the Property; and WHEREAS, there are a total of 11 parking lots within the project limits ("Improvements"); and WHEREAS, City and District will benefit if this work is performed concurrently with the 2020 Pavement Overlay and Resurfacing Program set forth herein, which will allow the project to be completed sooner, and without multiple disruptions to the residents; and WHEREAS, District and City desire to enter into an agreement for the adjustment of Property within District's facilities. NOW, THEREFORE, in consideration of the covenants contained herein and other valuable consideration, the parties hereby agree as follows: 1. Responsibility for the Costs of Improvements: The parties acknowledge that the allocation of the cost of the work for improvements shall be allocated between City and District as follows: a. The total costs for the resurfacing of 11 parking lots owned by District shall be 100 percent the responsibility of District. b. City will contract with Sully -Miller Contracting Company ("Contractor") in accordance with the approved CI 5503 construction contract. The estimated cost for this portion of Improvements is $693,634.71 ($630,577.01 plus $63,057.70 contingency). The cost listed for Improvements is an estimate and the final cost submitted to District for reimbursement to City may differ.