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Ce <br /> <br />Jarsons shall provide the City with a recordable <br />hold harmless agreement binding their heirs and <br />assigns, which agreement shall indemnify and hold <br />the City harmless from water and flooding damages <br />which may occur to the structures built on the <br />City's original drainage easement on Lot 3. <br /> <br />That the Jarsons will permit the amount of <br />not to exceed $12,500 to be specially assessed <br />against Lot 3, Block 5, Whispering Pines Estates. <br />This amount is 1/2 of the City's anticipated expense <br />in providing an alternate storm water drainage <br />solution in lieu of the City's original drainage <br />easement on Lot 3. ~ity will assess the amount <br />of not to exceed $1~yO0 to the said Lot 3 over a <br />period of ten (10) years requiring equal annual <br />installments of $ p~ year together with <br />interest at the rate of ~ % per year. Jarsons <br />will execute the document~necessary to effectuate <br />the special assessment described herein. <br /> <br /> The motion for the adoption of the foregoing resolution was <br />duly seconded by Councilmember and upon vote being <br />taken thereon, the following voted in favor thereof: <br /> <br />and the following voted against the same: <br /> <br />and the following abstained: <br /> <br />and the following were absent: <br /> <br />whereupon said resolution was declared duly passed and adopted by <br />the City Council this day of , 1989. <br /> <br />ATTEST: <br /> <br />Mayor <br /> <br />City Administrator/Clerk <br /> <br /> <br />