Res 2004-220 - Laserfiche WebLink

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I I I easements described in subsections A and B of Section 1 above at the same time as the City records the Plat. B. The City will allow the Property Owner and his assigns to obtain site development permits, building permits and other needed City permits for development on the Property once the Plat is recorded, subject to the Property Owner complying with City ordinances and regulations related to these permits in effect as of December 13,2004; the City expressly agrees that the Plat will not be subject to the City's new Land Development Code as long as the Property Owner complies with his obligations in providing the easements described in subsections A and B of Section 1 above so that the Plat can be filed prior to June 30, 2005. C. The City will use its best efforts to obtain the Adjacent Easement in a timely manner to permit LCRA to construct the Pole Relocation Project. D. If the Property Owner constructs the Perimeter Road Improvements, the City agrees to pay to the Property Owner the sum of $75,000, being the estimated added cost for a pedestrian- bicycle pathway compared to the cost of a commercial sidewalk, together with the cost of a pavement overlay of the entire roadway width, within 30 days of the date the Perimeter Road Improvements are completed by the Property Owner. E. The City will release to the Property Owner any letter of credit or escrow agreement provided by the Property Owner under Section 1.C above promptly upon the Property Owner's 1) completion of the Perimeter Road Improvements, or 2) payment to the City of 100% of the Perimeter Road Cost under Section 1.D above. F. The City will use any funds it receives for completion of the Perimeter Road Improvements, whether received as a payment from the Property Owner under Section I.D above or as a draw against a letter of credit or escrow agreement, only for the completion of the Perimeter Road Improvements. 3. Miscellaneous Provisions. A. Entire Agreement; Assignment. This Agreement constitutes the entire agreement between the parties hereto and may be amended only by a written document signed by the Parties. This Agreement will be binding upon the successors and assigns of the Parties. The Property Owner may, with 10 days advance notice to the City, assign all of his rights and obligations under this Agreement to a purchaser of all of the Property. Any other assignment by the Property Owner of his rights or obligations under this Agreement will require the written approval of the City's City Manager. B. Authority of Signatories. Each ofthe persons executing this Agreement represents that he or she has full power and authority to execute this Agreement on behalf of the Party that person represents. 3