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2. City agrees to perform all necessary acts, including a topographic survey, <br /> and incur all related expenses to partition two acres of land from their ridgeline Trail <br /> property that is located between Spencer's Butte and Fox Hollow Road at an elevation <br /> of approximately 1140 feet mean sea elevation so that a level area, approximately 120 <br /> feet in diameter can be obtained with a minimal amount of excavation. Final location <br /> of this two acres shall be EWEB's decision. In addition, City agrees to obtain, and pay <br /> the cost of, zoning of the property so that it may be used as a reservoir. All <br /> reasonable costs incurred pursuant to paragraphs 2 and 5, except costs of partitioning, <br /> shall be considered property of value transferred to EWEB for the purposes of <br /> paragraph 6. Should a dispute arise as to what constitutes reasonable costs, an <br /> independent auditor acceptable to both parties shall determine what constitutes <br /> reasonable costs under this agreement, which determination shall be conclusive. <br /> 3. City agrees, on or before December 31, 1992, to convey the above <br /> referenced City parcel to EWEB. <br /> 4. City and EWEB agree to split the cost of a certified appraiser who will <br /> establish the Fair Market Value of both parcels to be transferred. <br /> 5. EWEB and City acknowledge that the property to be transferred to EWEB <br /> pursuant to Paragraph 3 is part of the Ridgeline Trail system and has been identified <br /> in the South Hills study and various land use plans as having special scenic and <br /> environmental values. EWEB agrees that in designing and building the reservoir that <br /> is to be placed on the property, EWEB will use its best efforts to minimize the sensory <br /> impacts of the reservoir. EWEB will submit to City plans for construction on the <br /> property for City's review and comment. Upon completion of reservoir construction, <br /> City agrees to design and install landscape features for the property which will not <br /> interfere with EWEB's use of the property. City will submit its landscape plans to <br /> EWEB for EWEB's review and approval, which approval will not be unreasonably <br /> withheld. Within 30 days of receiving the plan, EWEB shall give written approval or <br /> disapproval of the plan. If EWEB disapproves the plan, its notice shall specify the <br /> basis for EWEB's disapproval. EWEB further agrees that, except in the case of an <br /> emergency, it will not block the Ridgeline Trail system during the construction and <br /> operation of the reservoir. <br /> 6. In the event further consideration is required by either party in order to <br /> make the transaction one of equal value between the parties, the parties agree to <br /> achieve equalization by negotiating the transfer of money and /or mutually agreed <br /> property to the other so that the value of all money and property transferred by each <br /> party pursuant to this agreement is equal to that of the other party. Any inequality <br /> shall accrue interest at an annual rate of six percent (6 %) (compounded monthly) from <br /> the date of the initial property transfer, and from the date of any subsequent transfer <br /> Page 2 of 3 <br />