ATTACHMENT 5
DEPOSIT AND REIMBURSEMENT AGREEMENT
(Services Only)
THIS DEPOSIT AND REIMBURSEMENT AGREEMENT (the
"Agreement") is made and entered into as of 3-.?I "'t/" I ; 2020, by and between the CITY OF MERCED, a California Charter Law Municipal Corporation (herein after referred to as "City,") and Hostetler Investments, LLC, a California Limited Liability Company, by Ranchwood Holdings, Inc., a California Corporation, its Manager (hereinafter referred to as "Developer.")
RECITALS
WHEREAS, The City Council of the City of Merced (hereinafter the "Council") proposes to establish one or more Community Facilities Districts (the "District") pursuant to the provisions of the Mello-Roos Community Facilities Act of 1982, as amended, commencing with Section 53311 of the Government Code of the State of California (hereinafter referred to as the "Act"). The initial boundaries of the proposed District are depicted on the map attached hereto and incorporated herein as Exhibit "A"; and,
WHEREAS, Developer has an approved Tentative Subdivision Map covering approximately 23.2 acres (the "Property"), as shown on the map attached hereto and incorporated herein by this reference as Exhibit "B"; and, X:\Agreements\Planning\2020\Deposit and Reimbursement Agreement -Bellevue North Villages 23 & 24.docx 1