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made as of the 23 rd day of 1991, by and between the CITY OF ROSEVILLE, a municipal corporation duly organized under the laws of the State of Minnesota (hereinafter "City"), and THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES, a New York corporation (hereinafter "Equitable"). WITNESSETH: WHEREAS, the Regional Transit Board (hereinafter "RTB") of the State of Minnesota has provided a grant of funds to the City for the purpose of generally connecting the City to the regional transit system by establishing a public transit hub at the Rosedale Shopping Center (the City and the RTB having executed a grant agreement dated July 23, 2991; and WHEREAS, the City as a condition of the receipt of the subsidy for establishment of the transit hub is required to obtain a legally enforceable agreement that certain transit hub capital improvements will be made, the transit hub will be available for public transit use, and sufficient parking area will be made available for park and ride activities; and WHEREAS, both the City and Equitable intend that the transit hub and park and ride facility be located on property currently known as the Rosedale Shopping Center (hereinafter "Rosedale"); and WHEREAS, it is the intention of the parties that this Agreement be executed describing the parties respective rights and responsibilities. NOW, THEREFORE, the City and Equitable agree as follows: ARTICLE I CONSTRUCTION OF TRANSIT HUB IMPROVEMENTS 1.1. Definitions. (a) "Transit Hub Improvements, as used herein, shall mean and include: (i) the concrete waiting area (the "Waiting Area") for rubber- tired public transit busses (the "Busses") in the location shown on the site plan Attached hereto as Exhibit A and hereby made A part hereby (the "Site Plan"), including without limitation, asphalt removal and construction of concrete pad for bus waiting area;