Agenda - Parks and Recreation Commission - 08/11/1994

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dedication for the future phase; and 7. WHEREAS, DEVELOPER intends to convey to the Northfork Homeowners Association, on or before completion of the development, substantial acreage in the Northfork PUD as private recreational open space; and 8. %~EREAS the Northfork Homeowners Association intends to create parks, trails and other private amenities on the open space; and 9. parks, WHEREAS, DEVELOPER, to facilitate development of such trails and other private amenities, contributes at least $250.00 to the Northfork Homeowners Association out of the proceeds of each lot sale in the Northfork PUD; and 10. WKEREAS, DEVELOPER wishes to offset the commitments and contributions described in Paragraphs 7, 8 and 9 above against the cash park dedication requirements required in Paragraph 5 of the AGP~EF~NT; and i1. WKEP~AS, the parties wish to dete~.ine to the fullest e>:tent possible at this time the park.dedication requirements for all of the Northfork PUD and to amend the AGREEMENT as described herein; and !2. %q{EREAS, a map showing the approximate locations of the various parcels of the Northfork PUD encumbered by this ADDENDUM and the - AGREEME]fT is ~ttached hereto as Exhibit "B" and incorporated herein. '. ~O~, THEREPORE, in consideration of the execution of the AGREEMENT and of the mutual covenants contained herein, the parties I I I I I I I I I i I I I I I I' I I I