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U <br /> -4- <br /> CONDITIONS AND CONTINGENCIES <br /> Before the Board can execute a (final)Certificate of Cancellation, the landowner must pay the <br /> full amount of the cancellation fee. Unless the fee is paid within the time period.specified by the <br /> County Assessor, said fee shall be computed as of the date of the notice from the landowner that <br /> all other conditions and contingencies have been satisfied. <br /> A legal ad for the public hearing was published in the Stockton Record on November 16, <br /> 2007, and public hearing notices were mailed on November 14, 2007, <br /> FISCAL IMPACT: <br /> None. The cancellation fee paid by the landowner must be transmitted to the State and <br /> deposited in the State's General Fund. Until all cancellation contingencies and conditions <br /> have been satisfied, and a final Certificate of Cancellation of Contract has been recorded, the <br /> project will remain under contract. <br /> ACTION TO BE TAKEN FOLLOWING APPROVAL: <br /> Following tentative approval of these cancellation requests, the Clerk of the Board must <br /> record in the Office of the County Recorder, a Certificate of Tentative Cancellation. Within <br /> 30 days after receiving notification from the landowner that the conditions and contingencies <br /> have been satisfied, the Board must execute a Final Certificate of Cancellation and cause said <br /> certificate to be recorded. <br /> Sincerely, <br /> 4v�, 6vk <br /> KERRY SULLIVAN <br /> DIRECTOR <br /> KS:JF:ss <br /> DE V S V C5/PA-0600500 W C-BL <br /> Enc: Attachment A, Certificate of Tentative Cancellation <br />