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. . . applied as follows. The net Bond proceeds shall be used for the conternplated Infrastructure Improvements for the Plarmed Community as set forth in Exhibit C, which are hereby agreed to by the City and the Developer. The Infrastructure Improvements represent only a portion of the Developer's total investrnent in the Planned Community, which is anticipated to be a susbstantially higher figure. The proceeds rnay also be used for other Infrastructure Improvernents which are necessary for the development of the Planned Community, consistent with the purpose of this instrument, and subject to the reasonable approval of the City Manager. 7. The parties acknowledge and reaffirm that the Developer is subject to certain legally binding Development Guidelines, generally for the purpose of ensuring certain standards of quality for the Plarmed Community. Those Development Guidelines are described in greater detail in Exhibit B. In consideration ofthe City creating the CDA and funding the Education Improvements (discussed in detail below), the Developer further cornrnits to give consideration to enhancing the quality of the Plarmed Community even further, by constructing the Quality Enhancernents identified in Exhibit D, without being under any legal obligation to do so. School Imorovements 8. The City shall budget and appropriate funds in its Capital Improvement Plan ("CIP") for FY 2005-06, FY 2006-07, and FY 2007-08 in the minirnum amounts set forth in Section 8 below for the improvements to the School set forth in Exhibit E (the "School Improvements"). These amounts shall be in addition to other plarmed CIP appropriations for the School System, and not merely a re-allocation of existing or Draft 8B -5-