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<span style="font-family: "Times New Roman", Times, serif; font-size: 12pt;">Mark,</span></p>
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<span style="font-family: "Times New Roman", Times, serif; font-size: 12pt;"> </span></p>
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<span style="font-family: "Times New Roman", Times, serif; font-size: 12pt;">Thank you for the question regarding Section 13 of the Intergovernmental Agreement (IGA) for master development services at the Alpine Balsam site. This clause was drafted specifically
for the 30Pearl IGA and provided for protections to BHP in the event the organization put forth a project that could realistically be delivered but that did not satisfy the City expectations. This clause carried forward to the Alpine Balsam IGA. The goal
is to mitigate the risk of valuable BHP resources being spent on an effort that ultimately was terminated. </span><span style="margin: 0px; font-family: "Times New Roman", Times, serif; font-size: 12pt;"> </span><span style="font-family: "Times New Roman", Times, serif; font-size: 12pt;">
BHP prefers to keep the clause in place given that political, staff, and resource availability can change, and these factors could have unforeseen impact on the project. </span></p>
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<span style="font-family: "Times New Roman", Times, serif; font-size: 12pt;">If I can provide additional information, please let me know.</span></p>
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Best regards,</div>
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Erin Poe</div>
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Deputy City Attorney</div>
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City of Boulder, Colorado</div>
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