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AND EACH PARTY SHALL BE RESPONSIBLE FOR AND PAY FOR ANY CLEAN UP ON <br /> ITS EXISTING PROPERTY. IF CLEAN UP IS REQUIIZED, EITHER PARTY MAY ELECT <br /> TO TERMINATE THIS AGREEMENT PRIOR TO CLOSING IF THEY DEEM THE COST <br /> OF REQUIRED CLEAN UP ON THEIlZ OWN, EXISTING PROPERTY TO BE TOO GREAT, <br /> UNLESS THE OTHER PARTY AGREES TO PAY FOR THE COST OF THE CLEAN UP. <br /> 5. IF DURING CONSTRUCTION BURIED TANKS, COMMUNITY SEWERS, <br /> OR OTHER UNDISCLOSED OR UNKNOWN ENVIRONMENTAL ISSUES OR IMPACTS <br /> AFFECTING THE USE OF THE PROPERTY ARE FOUND, THE CITY AND QUINNEYS <br /> AGREE TO .PAY FOR NECESSARY REMOVAL OR REMEDIATION OF SUCH ITEMS <br /> BASED ON CURRENT, PRE-EXCHANGE, PROPERTY OWNERSHIP AS FOLLOWS: <br /> CITY AGREES TO PAY :FOR ITEMS AND CLEAN-UP FOUND ON EXISTING CITY <br /> PROPERTY, AND QUINNEYS AGREE TO PAY FOR ITEMS FOUND ON EXISTING <br /> QUINNEY PROPERTY. HOWEVER, BOTH PARTIES RESERVE THE RIGHT TO <br /> PROCEED AGAINST THE PARTY CAUSING THE DAMAGE, INCLUDING THIRD <br /> PARTIES. <br /> 6. EACH PARTY WILL BE RESPONSIBLE FOR ANY PROPERTY TAXES OR <br /> OTHER ASSESSMENTS DUE FOR PROPERTY UNDER THEIR RESPECTIVE <br /> OWNERSHIP PRIOR TO AND FOLLOWING THE TRANSFER. <br /> 7. THE PARTIES WILL CONSULT WITH. EACH OTHER REGARDING FINISH <br /> GRADES AT JOINT PROPERTY LINE, WITH REGARD TO RLYI~TOFF OR OTHER ISSUES. <br /> 8. QUINNEYS ARE NOT RESPONSIBLE FOR ANY WORK IN THE RIGHTS <br /> <br /> _OF WAY FRONTING ON EXISTING CITY PARK PROPERTY, SUCH AS TREE FELLING, <br /> INFILLING OLD DRIVEWAY'S, .OR REPLACING SIDEWALKS, EXCEPT WHERE <br /> EXISTING IMPROVEMENTS TO BE PRESERVED AND PROTECTED, AS DESCRIBED <br /> IN ATTACHMENT 5, ARE DAMAGED DURING CONSTRUCTION ACTIVITIES. SUCH <br /> DAMAGED IlVIPROVEMENTS WILL BE REPAIItED OR REPLACED AT NO COST TO <br /> THE CITY. QUINNEYS HAVE RIGHT TO USE SAME DURING CONSTRUCTION, <br /> SUBJECT TO STANDARD PERMITTING REQUIltEMENTS FOR WORKING IN PUBLIC <br /> RIGHTS OF WAY. <br /> 9. QUINNEYS SHALL HAVE RIGHT TO SALVAGE PARK IlVIPROVEMENTS <br /> SPECIFICALLY IDENTIFIED FOR REMOVAL AND DISPOSAL IN EXHIBIT 5, <br /> EXCLUDING THE FOLLOWING ITEMS TO BE PRESERVED OR SALVAGED BY THE <br /> CITY FOR FUTURE USE: <br /> A. SUNDIAL - ' <br /> B. IlZON ROD FENCE AT EAST BOUNDARY OF EXISTING PARK. <br /> C. LIGHT FIXTURES <br /> D. ANY BRICKS IDENTIFIED FOR REMOVAL BY CITY OR <br /> VOLUNTEER GROUP PRIOR TO THE BEGINNING OF HOUSING CONSTRUCTION <br /> PAGE S--EXCHANGE AGREEMENT 4/10/2006 <br /> <br />