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_ -- . • • Feet for point ot �eginning, thence deflect 143 degrees OS minutes right �0 0 feet; thence def7ect 34 degree Oa minutes left 419.81 ro a point on a line which is 297.0 feet West of and parallel with the East line ot'said Northeast '/�, distant 401.88 feet North of the North line of State Trunk Highway i?36; thence Northerly on said line 612.33 feet to a point on the I�onh line of said Noi7heast'/.; thence V✓esteriy on said North line 7�A feet, thence Southwesterly 692.65 feet to point of beginning; and all that part of the Northeast Y, of the Southwest '/. of Section 8, Township 29, Range 23, described as follows: Commencing at the intersection of the North line of State Trunk Highway #36 and center line of St. Croix Street; thence Northerly on said center line 140.1 feet, thence deflect 17 degrees 44 minutes left on said center line 310.95 feet for point of beginning, [hence deflect 40 degrees 00 minutes left 50.0 feet, thence deflect 42 deerees 57 minutes right 290.58 feet to a point on the Southeasterly line of the St. Croix Falls [mprovement Company right of way; thence Northeasterly on said Southeasterly line 32231 feet to the Nonh line of said Northeast'/<, thence Easterly o� said North line 333.72 feet to a point which is 372.0 feet West of ttie Northeast corner thereof, thence Southeasterly 692.65 feet to the point of beginning. Hereafter referred to as the "Plat Property". The plat request has been approved subject to the execution of this Agreement b.� the parties hereto_ 2. Vacation of Easements. As a part of its plat approval request, DEVELOPER has asked that the CITY vacate certain storm water pond easements currentl� encumbering certain portions of the Plat Property. The City agrees to proceed to vacate or release the easements identified by the DEVELOPER, provided that all other terms of this Agreement, and the Public lmprovements Contract between the parties, are met by DEVELOPER. Re-Dedication of Easements. l��;VI:LCoFEK intends to recunfigure the e�cisting stormwater pond locatEd on the Plat Property. Reconfiguration of the pond will require additional easements. DEVEOPER agrees to grant to the City stormwater pond easements, on terms acceptable to the City, r,ver the lands described in the Re-Platting of the Property. The pond reconfigi�ratian shalt be underlaken on the terms specified herein and in the separate Public Improvements Contract. In particular, llEVELOPER shall dedicate the reconfigured storm�vat�r erisements to elevation 919.4, based on a N�NL. of 907.5. 4. Construction of F3uildin�: DE�IEI OPEK desires to fill the narrowest porcion of the existing pond, and install �vo bo�c culverts to coru�ect the separated pond cel�s. DEVELOPER wil] then proceed to construct a four-story office building over the box culverts by bridging the building over the culver,ts. Construction of the building and the culveris shall be the subject of the separate Public lmprovement Contract governing design, elevation, and other construction details. DEVELOPER shall grant to the CITY a perpetratual access easement necessary to inspect the box culverts and assure proper maintenance by DFVELOPER as described in Para�raph � below. The easement sllall lie on terms acceptable to the CIZ'Y. 5. Box Culvert Maintenance. D�VELOI'ER, and its successors in interest, shall be obligated to maintain and keep the box culverts referenced in Paragraph 4 hereof in good reQair as prescribed 'by the CITY and as necessary to preserve tne integrity and intended function of the box culverts. If, upon inspection of the culveris, the CITY determines Easement and Vacation Agreement Page 2 of 4