Common use of Monetary Contribution Clause in Contracts

Monetary Contribution. (a) If Development Consent is granted for Development that includes use of the Land or any part of the Land for residential purposes, the Developer Parties will pay to Council a monetary contribution of $5,010,600.00 or an amount calculated in accordance with the following formula, whichever is the greater: The CPI at the time of payment $5,010,600.00 x The CPI at the date of this agreement (b) Subject to clause 6.1(c), the Monetary Contribution must be paid to Council in instalments as follows: (i) 75% of the Monetary Contribution prior to the issue of a Construction Certificate for the Development; and (ii) 25% of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development, or prior to the registration of any Strata Plan, whichever is earlier. (c) The Developer Parties are not required to pay the instalment of the Monetary Contribution specified in clause 6.1(b)(i) if the Developer Parties provide to the Council a Bank Guarantee in accordance with clause 11.2 as security for that payment, in which case the Developer Parties must pay the full amount of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development. (d) The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by Council. (e) The Monetary Contribution will be taken to have been made when the Council notifies the Developer Parties in writing that the bank cheque has been received and cleared funds or electronic funds have been deposited in the Council’s bank account. (f) The parties agree and acknowledge that the Monetary Contribution will be used by the Council towards community infrastructure within the Paramatta Central Business District. 7 Application of s 7.11, s 7.12 and s 7.24 of the Act (a) This agreement does not exclude the application of section 7.11 of the Act to the Development. (b) This agreement does not exclude the application of section 7.12 of the Act to the Development. (c) This agreement does not exclude the application of section 7.24 of the Act to the Development.

Monetary Contribution. (a) If Development Consent is granted for Development that includes use of the Land or any part of the Land for residential purposesSubject to clause 6.1(d), the Developer Parties will First or Second Applicant is to pay to Council a monetary contribution the Contribution in the amount of $5,010,600.00 500,000.00 or an amount calculated in accordance with the following formula, whichever is the greater: The CPI at the time of payment $5,010,600.00 500,000.00 x The CPI at the date of this agreement (b) Subject to clause 6.1(c), the Monetary Contribution must be paid to Council in instalments as follows: (i) 75% of the Monetary Contribution prior to the issue of a Construction Certificate for the Development; and (ii) 25% of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development, or prior to the registration of any Strata Plan, whichever is earlier. (c) The Developer Parties are not required to pay the instalment of the Monetary Contribution specified in clause 6.1(b)(i) if the Developer Parties provide to the Council a Bank Guarantee in accordance with clause 11.2 as security for that payment, in which case the Developer Parties must pay the full amount of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development. (d) The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by Council. (e) The Monetary Contribution will be taken to have been made when the Council notifies the Developer Parties in writing that the bank cheque has been received and cleared funds or electronic funds have been deposited in the Council’s bank account. (f) The parties agree and acknowledge that the Monetary Contribution will be used by the Council towards community infrastructure the Public Purpose by facilitating construction of the future footpath connection and or other future works within the Paramatta Central Business District. 7 Application of s 7.11, s 7.12 and s 7.24 of the Act (a) This agreement does not exclude the application of section 7.11 of the Act to the Development. (b) This agreement does not exclude the application of section 7.12 of the Act to the DevelopmentNorth Rocks vicinity. (c) This agreement does not exclude Despite clause 6.1(b), the application of Council may apply the Contribution towards any other public purpose which satisfies section 7.24 7.4(2) of the Act Act, other than the Public Purpose, if the Council reasonably considers that the public interest would be better served by applying the Contribution towards that other public purpose. (d) The Contribution is to be paid either: (i) by the DevelopmentFirst Applicant to Council in one instalment of $500,000.00 with payment to be made within 14 days of: (A) the issue of a valid tax invoice for the Contribution in the name of the First Applicant; and (B) receipt by the First Applicant of the Construction Certificate for the Development Consent; and (C) issue of the First Applicants Development Notice, or the Contribution is to be paid: (ii) by the Second Applicant to Council in one instalment of $500,000.00 with payment to be made within 14 days of: (A) the issue of a valid tax invoice for the Contribution in the name of the Second Applicant; and (B) receipt by the Second Applicant of the Construction Certificate for the development of the Land for a supermarket that is not to be operated by the First Applicant; and (C) issue of the Owners Development Notice. (e) The Contribution is taken to have been made upon the receipt by Council of the full amount required under this Deed in cash or by unendorsed bank cheque or by the deposit via electronic funds transfer, and clearance of the full amount, into a bank account nominated by Council. (f) The Contribution is to be paid by either the First Applicant or the Second Applicant, whichever is first in time to satisfy the requirements of 6.1(d) (i) or (ii).

Monetary Contribution. (a) This Agreement includes a calculation for how monetary contributions will be derived, but the final monetary amount will be calculated once actual yield is ascertained and approved by Council. (b) If the Proposed Development Consent is granted for Development reflects the Base Dwelling Yield or less than the number of dwellings that includes use of can be accommodated under the Land or any part of Base Dwelling Yield, then the Land for residential purposes, the Developer Parties will pay to Council Applicant must make a monetary contribution of $5,010,600.00 or an amount 300,000. (c) If the Proposed Development Consent reflects the Maximum Dwelling Yield, then the Applicant must make a monetary contribution in accordance with the following formula (the figures in the following formula may be increased but not decreased and all monetary contributions will be indexed to CPI): Monetary Contribution payable =$300,000 + $37,500 x dwelling that is in addition to the Base Dwelling Yield (d) If the Applicant elects to make payment of a Monetary Contribution in accordance with clause 8.1(a)(i), then the following conditions apply: (i) The Applicant must pay Council the Monetary Contribution calculated by Council following the determination of the Proposed Development Consent and once actual yield is ascertained. The figures may be increased but not decreased in accordance with the following formula, whichever is the greater: Monetary Contribution payable Monetary Contribution Calculated in accordance with Clause 8.2(c) The CPI at the time of payment $5,010,600.00 = x The CPI at the date of this agreement (b) Subject to clause 6.1(c), the Monetary Contribution must be paid to Council in instalments as follows: (i) 75% of the Monetary Contribution prior to the issue of a Construction Certificate for the Development; and (ii) 25% of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development, or prior to the registration of any Strata Plan, whichever is earlier. (c) The Developer Parties are not required to pay the instalment of the Monetary Contribution specified in clause 6.1(b)(i) if the Developer Parties provide to the Council a Bank Guarantee in accordance with clause 11.2 as security for that payment, in which case the Developer Parties must pay the full amount of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development. (d) The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by Council. (eii) The Monetary Contribution will be taken to have been made when the Council notifies the Developer Parties Applicant in writing that the bank cheque has been received and cleared funds or electronic funds have been deposited in the Council’s bank account. (fiii) The parties agree and acknowledge that the Monetary Contribution will be used by the Council towards community infrastructure within the Paramatta Central Business District. 7 Application of s 7.11Public Purpose. (iv) Despite clause 8.2(d)(iii), s 7.12 and s 7.24 the Council may apply the Monetary Contribution towards any other public purpose which satisfies section 7.4(2) of the Act (a) This agreement does not exclude , other than the application of section 7.11 of Public Purpose, if the Act to Council reasonably considers that the Developmentpublic interest would be better served by applying the Contribution towards that other public purpose. (bv) This agreement does not exclude In the application of section 7.12 of event the Act Council directs the Contribution to another public purpose, the DevelopmentApplicant in paying the Contribution has fulfilled its obligations pursuant to this Agreement. (c) This agreement does not exclude the application of section 7.24 of the Act to the Development.

Monetary Contribution. (a) If Development Consent is granted for Development that includes use of the Land or any part of the Land for residential purposes, the Developer Parties The Landowner will pay to Council a monetary contribution of $5,010,600.00 or an in the amount calculated in accordance with the following formula, whichever is the greater: The CPI at the time of payment $5,010,600.00 Monetary Contribution = 1% of Proposed Cost x The CPI at the date of this agreementthe Proposed Cost is determined (b) Subject to clause 6.1(c), the The Monetary Contribution must be paid to Council in instalments as follows: (i) 75% of the Monetary Contribution prior to the issue of a each Construction Certificate for the Development; andDevelopment (other than for demolition), with the amount of each instalment calculated in accordance with clause 7.7(a) based on the Proposed Cost of that part of the Development subject to the Construction Certificate to be issued. (iic) 25% Notwithstanding clause 7.7(b), if the Act or Regulation is amended, or a Ministerial direction is made under section 7.17 of the Monetary Contribution Act that would ordinarily apply to contributions payable under sections 7.11 or 7.12 for the Development, and that amendment or direction provides that monetary contributions are to be paid prior to the issue of an Occupation Certificate for the DevelopmentCertificate, or prior Council will agree to the registration of any Strata Plan, whichever is earlier. (c) The Developer Parties are not required to pay the instalment deferred payment of the Monetary Contribution specified in clause 6.1(b)(i) if the Developer Parties provide to the Council a Bank Guarantee in accordance with clause 11.2 as security for so that payment, in which case the Developer Parties must pay the full amount of the Monetary Contribution each instalment is paid prior to the issue of an Occupation Certificate, with the amount of each instalment calculated in accordance with clause 7.7(a) based on the Proposed Cost of that part of the Development subject to the Occupation Certificate for the Developmentto be issued. (d) The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by Council. (e) The Monetary Contribution will be taken to have been made when the Council notifies the Developer Parties Landowner in writing that the bank cheque has been received and cleared funds or electronic funds have been deposited in the Council’s bank account. (f) The parties agree and acknowledge that the Monetary Contribution will be used by the Council towards community infrastructure within the Paramatta Central Business District. 7 Application of s 7.11, s 7.12 and s 7.24 of public purposes specified in any Contributions Plan adopted by Council at the Act (a) This agreement does not exclude time the application of section 7.11 of the Act to the DevelopmentMonetary Contribution is received. (b) This agreement does not exclude the application of section 7.12 of the Act to the Development. (c) This agreement does not exclude the application of section 7.24 of the Act to the Development.

Monetary Contribution. (a) If Development Consent is granted for Development that includes use of the Land or any part of the Land for residential purposes, the Developer Parties will pay to Council a monetary contribution of Monetary Contribution of: (i) $5,010,600.00 or 2,821,500; or (ii) an amount calculated in accordance with the following formula, whichever is the greater: $2,821,500 x The CPI at the time of payment $5,010,600.00 x The CPI at the date of this agreementAgreement (b) Subject to clause 6.1(cclauses 8.1(c) and 8.1(d), the Monetary Contribution must be paid to Council in instalments as follows: (i) 75% of the Monetary Contribution prior to the issue of a Construction Certificate for the relevant Development; and; (ii) 25% of the Monetary Contribution prior to the issue of an Occupation Certificate for any part of the Development, or prior to the registration of any Strata Plan, whichever is earlier. (c) The Developer Parties are is not required to pay the first instalment of the Monetary Contribution specified in clause 6.1(b)(i8.1(b)(i) if the Developer Parties provide provides to the Council a Bank Guarantee in accordance with clause 11.2 13.2 as security for that payment, in which case the Developer Parties must pay the full amount of the Monetary Contribution prior to the issue of an Occupation Certificate for any part of the Development. (d) For the avoidance of doubt, the reference to a Construction Certificate for the Development in clause 8.1(b)(i) and clause 13.2, means a Construction Certificate that authorises the erection of any structure, but does not include a Construction Certificate that authorises only demolition or excavation works. (e) The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by CouncilCouncil in writing. (ef) The Monetary Contribution will be taken to have been made when the Council notifies the Developer Parties in writing that the bank cheque has been received and cleared funds funds, or electronic funds have been deposited in the Council’s bank account. (fg) The parties agree and acknowledge that the Monetary Contribution will be used by the Council towards community infrastructure within a public purpose which Council reasonably considers to be in the Paramatta Central Business District. 7 Application of s 7.11, s 7.12 and s 7.24 of the Act (a) This agreement does not exclude the application of section 7.11 of the Act to the Developmentpublic interest. (bh) This agreement does not exclude Notwithstanding anything else in this clause 8.1, if the application Council adopts the Draft Contributions Plan, prior to the submission of section 7.12 a Development Application for the Development (or any part of the Act Development) and imposes conditions on the grant of a Development Consent for the Development requiring payment of Development Contributions in accordance with that adopted plan, the Developer will not be required to pay the DevelopmentMonetary Contribution under this clause. (c) This agreement does not exclude the application of section 7.24 of the Act to the Development.

Monetary Contribution. (a) If Development Consent is granted for Development that includes use of the Land or any part of the Land for residential purposes, the Developer Parties The Owners Corporation will pay to Council a monetary contribution Monetary Contribution of $5,010,600.00 6,549,585 or an amount calculated in accordance with the following formula, whichever is the greater: The CPI at the time of payment $5,010,600.00 6,549,585 x The CPI at the date of this agreementAgreement (b) Subject to clause 6.1(cclauses 8.1(c) and 8.1(d), the Monetary Contribution must be paid to Council in instalments as follows: (i) 75% of the Monetary Contribution prior to the issue of a any Construction Certificate for Development on the DevelopmentLand which is directly correlated to, and made permissible by, the Instrument Change; and (ii) 25% of the Monetary Contribution prior to the issue of an Occupation Certificate for the DevelopmentDevelopment of the Land which is directly correlated to, and made permissible by, the Instrument Change, or prior to the registration of any Strata PlanPlan following completion of the Development contemplated in clause 8.1(b)(i), whichever is earlier. (c) For the avoidance of doubt, the Monetary Contributions are not payable whilst the Strata Scheme continues to operate in its existing form, and will only be payable if a Construction Certificate is required for proposed Development on the Land which is directly correlated to, and made permissible by, the Instrument Change. (d) The Developer Parties are Owners Corporation is not required to pay the instalment of the Monetary Contribution specified in clause 6.1(b)(i8.1(b)(i) if the Developer Parties provide Owners Corporation provides to the Council a Bank Guarantee in accordance with clause 11.2 9 as security for that payment, in which case the Developer Parties Owners Corporation must pay the full amount of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development. (de) The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by CouncilCouncil in writing. (ef) The Monetary Contribution will be taken to have been made when the Council notifies the Developer Parties Owners Corporation in writing that the bank cheque has been received and cleared funds or electronic funds have been deposited in the Council’s bank account. (fg) The parties agree and acknowledge that the Monetary Contribution will be used by the Council towards community infrastructure within a public purpose which Council reasonably considers to be in the Paramatta Central Business District. 7 Application of s 7.11, s 7.12 and s 7.24 of the Act (a) This agreement does not exclude the application of section 7.11 of the Act to the Developmentpublic interest. (b) This agreement does not exclude the application of section 7.12 of the Act to the Development. (c) This agreement does not exclude the application of section 7.24 of the Act to the Development.

Monetary Contribution. (a) If Development Consent is granted for Development that includes use of the Land or any part of the Land for residential purposes, the Developer Parties The Developers will pay to Council a monetary contribution in the amount of $5,010,600.00 or an amount calculated 1,813,650.00 indexed in accordance with any increases in the following formulaCPI, whichever but only if the Gross Floor Area of the Development to be used for, or in connection with, residential purposes is the greater: The CPI at the time of payment $5,010,600.00 x The CPI at the date of this agreementgreater than 24,179 square metres. (b) Subject to clause 6.1(c), if the Monetary Contribution is payable under clause 6.1(a), it must be paid to Council in instalments as follows: (i) 7525% of the Monetary Contribution within 5 Business Days of the grant of Development Consent for any Development that includes a residential component; (ii) 50% of the Monetary Contribution prior to the issue of a Construction Certificate for the Development; and (iiiii) 25% of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development, or prior to the registration of any Strata Plan, whichever is earlier. (c) The Developer Parties Developers are not required to pay the instalment instalments of the Monetary Contribution specified in clause clauses 6.1(b)(i) and (ii) if the Developer Parties Developers provide to the Council a Bank Guarantee Guarantees in accordance with clause 11.2 as security for that paymentthose payments, in which case the Developer Parties Developers must pay the full amount of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development. (d) The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by Council. (e) The Monetary Contribution will be taken to have been made when the Council notifies the Developer Parties Developers in writing that the bank cheque has been received and cleared funds or electronic funds have been deposited in the Council’s bank account. The Council must notify the Developers under this clause within 5 Business Days of receiving confirmation that the cleared funds have been deposited in the Council’s bank account. (f) The parties agree and acknowledge that the Monetary Contribution will be used by the Council towards community infrastructure public domain improvement within the Paramatta Central Business District. 7 Application of s 7.11, s 7.12 and s 7.24 of the Act (a) This agreement does not exclude the application of section 7.11 of the Act to the DevelopmentParramatta CBD. (b) This agreement does not exclude the application of section 7.12 of the Act to the Development. (c) This agreement does not exclude the application of section 7.24 of the Act to the Development.

Monetary Contribution. (a) If The Developer Parties will pay to Council a monetary contribution of $1,107,000.00 indexed in accordance with any increases in the CPI from the date of this agreement to the date of payment, but only if Development Consent is granted for Development that includes use of the Land or any part of the Land for residential purposes, the Developer Parties will pay to Council a monetary contribution of $5,010,600.00 or an amount calculated in accordance with the following formula, whichever is the greater: The CPI at the time of payment $5,010,600.00 x The CPI at the date of this agreement. (b) Subject to clause 6.1(c), the Monetary Contribution must be paid to Council in instalments as follows: (i) 7525% of the Monetary Contribution within 5 Business Days of the grant of Development Consent for any Development that includes a residential component; (ii) 50% of the Monetary Contribution prior to the issue of a Construction Certificate for the Development; and (iiiii) 25% of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development, or prior to the registration of any Strata Plan, whichever is earlier. (c) The Developer Parties are not required to pay the instalment instalments of the Monetary Contribution specified in clause clauses 6.1(b)(i) and (ii) if the Developer Parties provide to the Council a Bank Guarantee Guarantees in accordance with clause 11.2 as security for that paymentthose payments, in which case the Developer Parties must pay the full amount of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development. (d) The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by Council. (e) The Monetary Contribution will be taken to have been made when the Council notifies the Developer Parties in writing that the bank cheque has been received and cleared funds or electronic funds have been deposited in the Council’s bank account. (f) The parties agree and acknowledge that the Monetary Contribution will be used by the Council towards community infrastructure public domain improvement works within the Paramatta Parramatta CBD , the provision of affordable housing (to the value of 10% of the value uplift) and towards Council’s Cultural Plan (“Culture and Our City: A Cultural Plan for Parramatta’s CBD 2017-2022”) as determined by Council to be necessary to accommodate the anticipated population growth in the Parramatta Central Business District. 7 Application of s 7.11, s 7.12 and s 7.24 of the Act (a) This agreement does not exclude the application of section 7.11 of the Act to the Development. (b) This agreement does not exclude the application of section 7.12 of the Act to the Development. (c) This agreement does not exclude the application of section 7.24 of the Act to the Development.

Monetary Contribution. (a) If The Developer Parties will pay to Council a monetary contribution of $1,107,000.00 indexed in accordance with any increases in the CPI from the date of this agreement to the date of payment, but only if Development Consent is granted for Development that includes use of the Land or any part of the Land for residential purposes, the Developer Parties will pay to Council a monetary contribution of $5,010,600.00 or an amount calculated in accordance with the following formula, whichever is the greater: The CPI at the time of payment $5,010,600.00 x The CPI at the date of this agreement. (b) Subject to clause 6.1(c), the Monetary Contribution must be paid to Council in instalments as follows: (i) 75: 25% of the Monetary Contribution within 5 Business Days of the grant of Development Consent for any Development that includes a residential component; 50% of the Monetary Contribution prior to the issue of a Construction Certificate for the Development; and (ii) and 25% of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development, or prior to the registration of any Strata Plan, whichever is earlier. (c) The Developer Parties are not required to pay the instalment instalments of the Monetary Contribution specified in clause clauses 6.1(b)(i) and (ii) if the Developer Parties provide to the Council a Bank Guarantee Guarantees in accordance with clause 11.2 as security for that paymentthose payments, in which case the Developer Parties must pay the full amount of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development. (d) The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by Council. (e) The Monetary Contribution will be taken to have been made when the Council notifies the Developer Parties in writing that the bank cheque has been received and cleared funds or electronic funds have been deposited in the Council’s bank account. (f) The parties agree and acknowledge that the Monetary Contribution will be used by the Council towards community infrastructure public domain improvement works within the Paramatta Parramatta CBD , the provision of affordable housing (to the value of 10% of the value uplift) and towards Council’s Cultural Plan (“Culture and Our City: A Cultural Plan for Parramatta’s CBD 2017-2022”) as determined by Council to be necessary to accommodate the anticipated population growth in the Parramatta Central Business District. 7 Application of s 7.11, s 7.12 and s 7.24 of the Act (a) This agreement does not exclude the application of section 7.11 of the Act to the Development. (b) This agreement does not exclude the application of section 7.12 of the Act to the Development. (c) This agreement does not exclude the application of section 7.24 of the Act to the Development.

Monetary Contribution. (a) If Development Consent is granted for Development that includes use of the Land or any part of the Land for residential purposes, the Developer Parties will pay to Council a monetary contribution of $5,010,600.00 or an amount calculated in accordance with the following formula, whichever is the greater: The CPI at the time of payment $5,010,600.00 x The CPI at the date of this agreement (b) Subject to clause 6.1(c), the Monetary Contribution must be paid to Council in instalments as follows: (i) 75% of the Monetary Contribution prior to the issue of a Construction Certificate for the Development; and (ii) 25% of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development, or prior to the registration of any Strata Plan, whichever is earlier. (c) The Developer Parties are not required to pay the instalment of the Monetary Contribution specified in clause 6.1(b)(i) if the Developer Parties provide to the Council a Bank Guarantee in accordance with clause 11.2 as security for that payment, in which case the Developer Parties must pay the full amount of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development. (d) The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by Council. (eb) The Monetary Contribution is to be indexed in accordance with increases in the CPI from the date of this agreement to the date of payment. The Monetary Contribution payable will be adjusted to in the following manner: $CPY = $CDC x CPIPY / CPIDC Where: $CPY is the amount of the contribution at the date of payment $CDC is the amount of the Monetary Contribution as set out in this agreement (prior to indexation) CPIPY is the latest release of the Consumer Price Index (Sydney – All Groups) at the date of payment as published by the ABS. CPIDC is the Consumer Price Index (Sydney – All Groups) for the financial quarter at the date of entering into this agreement. (c) The Monetary Contribution will be taken to have been made when the Council Council, acting reasonably, notifies the Developer Parties in writing that the bank cheque has been received and cleared funds or electronic funds have been deposited in the Council’s bank account. (fd) The parties agree and acknowledge that the Monetary Contribution will be used by towards the Council towards community infrastructure within the Paramatta Central Business District. 7 Application of s 7.11, s 7.12 and s 7.24 carrying out of the Act (a) This agreement does not exclude the application of section 7.11 of the Act to the DevelopmentMerewether and ▇▇▇▇▇▇▇ Street Intersection Works. (be) This agreement does not exclude Council acknowledges and agrees that: (i) the application of section 7.12 Developer has notified Council that it intends to submit a Development Application or Development Applications for the Development or part of the Act Development within 20 Business Days after the Instrument Change is published on the NSW Legislation Website; (ii) Council will commence the design for the Merewether and ▇▇▇▇▇▇▇ Street Intersection Works when the first Development Application for the Development is being assessed by Council; and (iii) Council will construct the Merewether and ▇▇▇▇▇▇▇ Street Intersection Works as soon as practicable after the completion of the design and will use its best endeavours to complete the DevelopmentMerewether and ▇▇▇▇▇▇▇ Street Intersection Works in a timely manner. (cf) This agreement does Notwithstanding any other provision of this agreement, the Developer will not exclude be required to pay the application of section 7.24 Monetary Contribution if, prior to that payment becoming due, a condition is imposed on any Development Consent requiring the Developer (or any other entity with the benefit of the Act Development Consent) to carry out the Merewether and ▇▇▇▇▇▇▇ Street Intersection Works. (g) Notwithstanding any other provision of this agreement, if, prior to the DevelopmentMonetary Contribution becoming due, a condition is imposed on any Development Consent requiring the Developer (or any other entity with the benefit of the Development Consent) to carry out a part of the Merewether and ▇▇▇▇▇▇▇ Street Intersection Works, the Monetary Contribution will be reduced by an amount equivalent to the value of the works required under the Development Consent, as determined by a qualified quantity surveyor appointed by the Developer with the Council’s approval (acting reasonably).