RES 85505 - Laserfiche WebLink

b. The Madden parcel consists of APN 946-1250-29 with 5.99 + acres and APN 946-1686-1 with 7.65+ acres for a total area of 13.64+ acres. c. The SPTCo remainder parcel (Parcel D) consists of 100 feet of right of way extending for approximately 3300 feet adjacent to Stanley Boulevard between the proposed Valley Avenue and the existing at grade crossing at East Stanley Boulevard. There is a petroleum products pipeline within the SPTCo Remainder Parcel which will be continued in its present use as set forth in Subsection (e) hereof. d. Upon approval of this Memorandum of Understanding by the City and SPTCo, SPTCo will cooperate to the extent possible pending title investigation with Madden or his successor in interest to effectuate a lot consolidation and resubdivision in the approximate configuration as shown in Exhibit A. e. SPTCo or its successor will retain a permanent easement of approximately twenty feet (20') in width for the existing SP petroleum pipeline along the entire length of Parcel D and for general pipeline and communication purposes (including but not limited to fiber optic cable and appurtenances). Any conveyance will be subject to a condition that no structures will be allowed in this permanent easement but landscaping and parking of vehicles will be permitted. 19. PUC Approval. a. Except as specifically provided in Paragraph 2, Paragraph 3(a), Paragraphs 5(a) and (b), and Paragraph 6 the obligations of this Agreement shall be contingent upon PUC approval of the modified design. b. If PUC approval has not been obtained within thirty (30) months of execution of this Agreement, then this Agreement shall terminate and be of no further force and effect. c. Upon execution of this Agreement, SPTCo and City will each ask the PUC to hold in abeyance further proceedings relating to the SPTCo's Petition for Rehearing of Decision 85-08-037 until the PUC has reached a decision regarding City's Application to Modify Decision 85-08-037. - 8 -