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<br />B. <br /> <br />Public Use Dedication. Guidant's public use dedication requirement for all <br />phases shall be satisfied in the following manner: <br /> <br />. <br /> <br />1. Public Trailwav Easement. Concurrent with the execution of this <br />Agreement, Guidant shall cause the appropriate property owner to <br />convey to the City, its successors and assigns, the public trailway <br />easement attached and incorporated as Exhibit E. <br /> <br />2. Private Trailwav License. As part of its development which will <br />extend over a period of years, Guidant will construct a private <br />trailway system. Prior to issuance of occupancy permits for Phase I <br />buildings, Guidant shall cause the appropriate property owner(s) to <br />convey a private trailway license to the City, its successors and <br />assigns, which shall be attached and incorporated herein as <br />Exhibit F. Guidant reserves the right to terminate the private <br />trailway license in the following circumstances: <br /> <br />(a) If necessary to protect the safety of Guidant's property or its <br />employees, Guidant may terminate the private trailway <br />license by delivering a written notice to the City which <br />contains the reasons for Guidant's action. The termination <br />shall be effective upon delivery of the notice. <br /> <br />(b) Guidant may terminate the private trailway license by <br />delivering a written notice to the City sixty (60) days in <br />advance of the termination date. The termination notice <br />shall include Guidant's reasons for its action. <br /> <br />. <br /> <br />3. Construction/Convevance of Park Buildina. Guidant shall construct <br />a picnic/warming shelter ("Park Building") for Cummings Park <br />pursuant to plans and specifications approved by the City. The <br />maximum cost of the Park Building is estimated to be $350,000. <br />The contribution of Guidant to the Park Building shall be identified <br />on a plaque, approved by the City, which shall be attached to the <br />Park Building. Upon completion of the Park Building, it shall be <br />conveyed to the City. The City shall be responsible for <br />maintenance of the Park Building. Construction of the Park <br />Building shall be completed by June 30, 2004. <br /> <br />(a) ImDrovement Security. Prior to the City's endorsement of <br />approval on the final plat, Guidant shall deposit security with <br />the City Administrator in an amount equal to one hundred <br />percent (100%) of the estimated costs of constructing the <br />Park Building. The security may be in the form of a cash <br />escrow fund, a performance bond, or a letter of credit. The . <br />form of security shall be approved by the City's attorney. <br /> <br />4 <br />