A. Indemnification: As a condition to district 7 receiving any school land dedications and/or cash contributions in lieu thereof, district 7 shall execute an indemnification agreement largely similar in form and content to that which is set forth and attached as exhibit C to ordinance 2004-9 and incorporated herein by reference. This agreement shall be executed on or before June 1 of each year. Following execution of this agreement by district 7, this indemnification agreement shall be furnished to the village. In the event district 7 fails to execute and/or furnish the executed agreement as required in this chapter, the village reserves the right to refuse to impose any land dedications and/or cash contributions in lieu thereof on behalf of district 7.
B. Collection Of Fees: The cash contributions in lieu of land dedications imposed by this chapter shall be collected and held by district 7 in accordance with the standards in this chapter and shall be used for the purposes set forth in this chapter. If necessary, district 7 shall provide written confirmation of payment to the developer or subdivider that the developer or subdivider can present to the appropriate village authorities as proof of compliance with the terms of this chapter. (Ord. 2012-11, 3-13-2012)