Res 2001-081 - Laserfiche WebLink

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11. Tanger vvill dedicate to the City the area shovVTI on the attached Exhibit "A" as an easement for a fuhlre roadvvay, together with a public utility easement as shown on the attached Exhibit "A." The City will accept these dedications, and will require dedication of a similar area of right-of-way, from 60 feet in width at its intersection with IH-35 narrowing to 20 feet in width adjacent to the right-of-way dedicated by Tanger, and will require dedication of a 10 foot wide parallel Public Utility Easement, from the property owner adjacent to Tanger at the time of platting of the owner's property. The City also will credit the area of right-of-way dedicated by Tanger towards its area requirements for landscaping under applicable City ordinances, and will regard the area, upon construction of a roadway, as a legal non-conforming use with respect to the City's landscaping requirements. Lowman shall have the right at its own expense to bury any above-ground utilities that interfere 'vvith development of the road, Tanger will not be responsible for compliance with anv regulatorv requirements or standards of the Citv pertaining to the road construction. and Tanger shall have no obligation to contribute to the road construction costs. These covenants shall survive Closing. 12. Each party agrees to bear its own attorney's fees and costs. 13. Upon Closing, counsel jointly will have entered an Agreed Order of Dismissal with prejudice of the above-referenced proceeding. The form of the order is attached as Exhibit "B" hereto. 14. The parties acknowledge that they have reviewed the terms of this mediated settlement agreement with counsel, that they enter into this agreement freely and of their own volition, and that this agreement as evidenced by the parties' signatures below is legally binding and enforceable. 4