RES 00023 - Laserfiche WebLink

shall not be pumped directly to support any recycled wastewater project, unless agreed upon by the City. 3, District Contribution to Purchase Price. The District shall contribute One Hundred and Sixty Eight Thousand Dollars ($168,000.00) to the City for use in acquiring the Property ("District Contribution"). The District Contribution shall be paid into a designated escrow account with Chicago Title Company prior to the City and Prudential closing escrow on the sale of the Property. The City shall notify the District at least five (5) business days in advance of the date in which the District Conlribution must be deposited into escrow, but in no event before March 1, 2000. If the City has not completed acquisition of the Property by April 30, 2000, the City will remm the Dislxict Contribution to the District. 4. Information Re~ardin~ Property. Prior to its acquisition of the Property, the City has requested from Prudential all relevant documents relating to the condition of the Property. The City shall provide copies of any and all such documents to the District for its review and comment. The District acknowledges that within the Purchase Agreement between the City and Prudential, the City has a limited time period in which to cancel the purchase due to the condition of the Property. Therefore, the District shall use its best efforts to advise the City within this time period if the District determines that it does not wish to make a contribution and receive an easement on the Property. The City and the District shall share equally the cost of a Phase I Environmental Assessment for the Property. 5. RecordationofEasementsandRightofPossession. Easements granted by the City to the District shall be recorded immediately upon the City' s acquisition of the Property from Prudential, and shall be required as part of the escrow instructions. The District shall thereafter have the right of immediate possession and use of the Easements. 6. Construction and Access Easement. The District agrees to advise the City regarding the Distriet's eonslmetion schedule, and estimated time of completion. The District further acknowledges that the City may commence the construction of right-of-way and/or park improvements to the Property, and in such event, the City and the District shall coordinate their respective construction projects so as to minimize interference with each other. Upon completion of the District' s improvements, the parties shall execute and record an access easement to provide the District access to its improvements. 2