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Lerr of Spgcifl Raouirad | <br />PlWiTaenta> The above agreed upon share of the installation of <br />Plan B Improvements» including any reasonable engineering, legal <br />and administrative costs incurred by the “ity, shall be paid by the <br />Subdivider to the City as special assessments levied against the <br />benefited land area in five (5) equal annual installments with <br />interest on unpaid installments at an annual percentage rate to be <br />established by the City at the time of the sale of the improvement <br />bonds issue, or as set forth in Exhibit F attached hereto. <br />Reference herein to special assessments shall be deemed to include, <br />and shall include, all interest due thereon. <br />(1) If the special assessments levied by <br />resolution of the City Council pursuant to this agreement are <br />adopted by it between October 10th of any year and April 10th of <br />the following year, it is understood and agreed that the Subdivider <br />will pay to the City one-half (1/2) of the first annual <br />installment with interest on or before May 31st next following the <br />levy, and will pay the remaining one half (1/2) of such first <br />installment with interest to the City Clmmk on or before the <br />following September 30th. All remaining installments shall be paid <br />as assessments to the Treasurer of Hennepin County as and when the <br />general property taxes become due upon said property. <br />(2) If the special assessments levied by the <br />City Council pursuant to this agreement are adopted between April <br />11th and October 9th of any year, then all installments due <br />-17-