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school facilities. All costs associated with such formation or <br /> annexation shall be paid by the Developer from the CFD tax. <br /> B. Any other mechanism or measure, or combination of <br /> measures, to provide the pro rata share of adequate school facilities <br /> mutually acceptable to District and Developer. <br /> 3. Cost of Schools <br /> The cost of an elementary, middle or high school shall be <br /> determined by the District at the time of the formalization of the <br /> financing mechanism(s) described in Paragraph 2, based on the <br /> actual cost of a school project of similar size and nature recently built <br /> in the District, factored for inflation and necessary costs beyond the <br /> State formula. The cost of school facilities shall be based on an <br /> assumption of 100% local financing. <br /> 4. State Funding <br /> The District shall make reasonable efforts to obtain State <br /> funding for school facilities and shall reduce the Cost of Schools and <br /> subsequently the pro rata share of those school projects if State <br /> funds become available. <br /> 5. Maximum Commitment <br /> The maximum commitment for provision of school facilities to <br /> serve this development shall not exceed the pro rata share of the <br /> cost of the necessary school facilities plus related financing costs, <br /> reduced by State funding, if any. Developer's obligation, pursuant to <br /> this agreement shall not exceed the obligation of the <br /> developer/landowner as a result of the applicable area Finance Plan. <br /> Developer and all interested parties are encouraged and invited to <br />