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CCP 12-15-1997
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CCP 12-15-1997
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<br />-~'--" ...' ._'.....~.........' ..'-....-. ....:~.-~.:...'_....' ~ - ~ ~ .. ~ -. , ~. -.',-'. . ,--_\.. ....~..,....'_. -. - - -- -"--' .... -- <br />~ (rp> 'I <br /> Billboards 1 and 2 until the Billboard~ are I <br /> removed or for three months from the date hereof <br /> whichever event occurs first; and .. <br /> 3 . Agreeing not to specially assess any of the <br /> Seller's property for costs associated with the I <br /> construction of the public improvement project. <br /> 4 . Paym","L of $25,250.00 ill cash 01" guaranteed funds <br /> on the date of closing. I <br />B. Conveyance of Easements. By execution of this <br /> Agreement, Seller hereby conveys a temporary I <br /> const1'uction easement to City over, under and across <br /> Parcel D. In addition, Seller shall convey a permanent <br /> easement over, under and across Parcel 0 fer purposes <br /> of storm water pending and drainage; together with a I <br /> permanent easement for ingress and egress to such area <br /> in order to physically maintain the storm water ponding <br /> and drainage area in the future, The permanent I <br /> easement shall be conveyed upon adoption of the zoning <br /> code amendments described in Section 3.0, I. hereof. <br /> The City shall be responsible for maintenance of Parcel <br /> D as a storm water pending area and shall indenUli[y and I <br /> hold Seller harmless against any damages caused by the <br /> City's negligence in maintaining such parcel for storm <br /> water ponding purposes. <br /> The parties agree that the pennanent easement has a ~ <br /> value of $45,000. Subject to the provisions of Section <br /> 3.0 (I) , Seller shall donate such permanent easement to I <br /> the City. <br /> The Seller shall retain the right to the joint use of <br /> Parcel 0 for storm water ponding purposes, if feasible, I <br /> when Seller develops the remainder of its property <br /> adjacent to Parcel o. <br />C. TeL'nlinalion of Lease. upon execution of this I <br /> Agreement, Seller shall provide to the Tenants of <br /> Billboards 1 and 2 with notices of termination of <br /> lease. Such notices shall be given prior to December I <br /> 31, 1997. The City aCKnowledges that the support <br /> structures for Billboards 1 and 2 belong to Universal <br /> Sign Company and will be removed consistent with the. I <br /> terms of existing leases for such Billboards. <br />D. Conditions Precedent. The obligations of City under <br /> this Agreement are conditional upon satisfaction of I <br /> Poach of the following: <br /> l. Title. Title shall have been found acceptable by <br /> City, or been made acceptable. in accordance with I <br /> 4 <br /> .. <br /> I <br />
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