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5. TO FACILITATE THE TIMELY CONSTRUCTION OF THE BUILDINGS,TO <br /> PROVIDE TIME FOR THE PARTIES TO COMPLETE ALL PROPERTY AND LAND USE <br /> ISSUES,AND TO ASSIST QUINNEYS IN OBTAINING FINANCING„THE PARTIES WILL „.--- Deleted:THE CITY WILL DEED,AT <br /> PREPARE AND EXECUTE THE TRANSFER THROUGH A PROPERTY LINE CLOSING,ITS EXISTING PROPERTY. <br /> TO QUINNEYS <br /> ADJUSTMENT DEED ON OR BEFORE NOVEMBER 15 2005. OPER DISCUSSION—THE Del :UPON THE COMPLETION <br /> DEED WOULD BECOME LEGAL UPON FAVORABLE COMPLETION OF CITY OF THE FINAL BUILDING, <br /> PROCEDURAL REVIEW OF PROPERTY LINE ADJUSTMENT. THE MORE COMMON QUINNEYS WILL DEED THE crrY <br /> PROCEDURE—OUR OTHER OPTION-WOULD BE TO OBTAIN APPROVAL PRIOR TO PARK To THE CITY. <br /> EXECUTING DEED] WE NEED TO FURTHER DISCUSS AND AGREE. BUT WE <br /> SHOULD HAVE THE PROPERTY LINE ADJUSTMENT APPLICATION, <br /> CORRESPONDING MAPS. LEGALS, AND PLA DEED FOR YOUR REVIEW LATER <br /> TODAY(10/28)OR BY MONDAY. ONE OPTION WOULD BE TO EXECUTE THE DEED <br /> BY NOVEMBER 15 IF NECESSARY OR WE SHOULD HAVE APPROVAL FROM <br /> PLANNING BY DECEMBER 1 IF WE WISH TO WAIT. THE DEED COULD THEN BE <br /> HELD IN ESCROW WITH DATE SPECIFIC ESCROW INSTRUCTIONS AS TO WHEN <br /> THE DEED SHOULD BE RECORDED — CONSUMMATING THE CONVEYANCES OF <br /> FEE TITLE?? <br /> 6. THE CITY WILL BE RESPONSIBLE FOR ALL THE PROPERTY TAXES <br /> AND ANY ASSESSMENTS ON THE CITY PARK PROPERTY. AND THE QUINNEYS <br /> WILL BE RESPONSIBLE FOR ALL THE PROPERTY TAXES AND ANY ASSESSMENTS ;{Did:. <br /> ON QUINNEYS'PROPERTY, <br /> 7. IF DURING CONSTRUCTION QUINNEYS FIND BURIED TANKS, OR <br /> COMMUNITY SEWERS, OR OTHER UNDISCLOSED OR UNKNOWN FEATURES ON <br /> CURRENT PARK PROPERTY, CITY WILL PAY FOR THEIR REMOVAL OR <br /> IRELOCATION. <br /> 8. PARTIES WILL CONSULT WITH EACH OTHER REGARDING FINISH <br /> GRADES AT JOINT PROPERTY LINE,WITH REGARD TO RUNOFF OR OTHER ISSUES. <br /> IT IS ASSUMED THAT THE FINAL GRADE WILL BE ESSENTIALLY LEVEL, OR <br /> CONTINUOUS. (EXISTING PARK HAS VARIOUS LEVELS AND RETAINING <br /> STRUCTURES). , Deleted:RIGHT <br /> Deleted:S <br /> 9. QUINNEYS ARE NOT RESPONSIBLE FOR ANY WORK IN THE RIGHTS ;' Deleted:. <br /> MJF WAY, FRONTING ON CITY PARK PROPERTY. SUCH AS ,TREE FELLING,J. , Deleted:CITY <br /> INFILLING OLD DRIVEWAYS, pR REPLACING SIDEWALKS, QUINNEYS HAVE ;'..-- Deleted:> <br /> RIGHT TO USE SAME DURING CONSTRUCTION, AS WELL AS EASEMENTS TO BE Deleted:TO BE REMOVED <br /> CREATED ON FINAL PARK FOR ACCESS TO STREET, TO UTILITIES AND ;' Deleted:,WITH EXCEPTION OF <br /> CONNECTION TO STORM AND SANITARY SEWERS, SUBJECT TO STANDARD i/ THE POLE MOUNTED LIGHT <br /> PERMITTING REQUIREMENTS FOR WORKING IN PUBLIC RIGHTS OF WAY. it FIXTURES,WHICH PARKS STAFF <br /> il OF CITY HAS INDICATED SHOULD <br /> BE RETAINED BY CITY <br /> , <br /> 10. QUINNEYS SHALL HAVE RIGHT TO SALVAGE PARK IMPROVEMENTS / ;(Deleted:PAGE <br /> SPECIFICALLY IDENTIFIED FOR REMOVAL AND DISPOSAL IN EXHIBIT 5,SUCH AS; Deleted:-EXCHANGE <br /> FENCE,LIGHT POSTS,CATCHBASINS,OR OTHER ITEMS, AGREEMENT DRAFT <br /> , Deleted:10/28/2005 <br /> 11. CITY WILL RELEASE AND HOLD HARMLESS QUINNEYS,AND ANY OF t;',:,,1Inserted:10n8n00510728n005 <br /> QUINNEYS' AGENTS, FROM ANY DAMAGE TO THE CITY PARK DURING THE .: <br /> c s ,it----- Deleted:10/28/200510/2772005 <br /> PAGE 4--EXCHANGE AGREEMENT DRAFT 11/3/2005 <br />