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Tax Increment Financing ("TIF"), Service Availability Surcharge <br />("S.A.S.") and water and sewer special district quarterly billings; <br />and <br /> <br /> WHEREAS, the LANDOWNER and the CITY by this Agreement are <br />placing into written form their agreements as to the payment by the <br />CITY for the right-of-way acquisition from LANDOWNER and the <br />payment by the L~NDOWNER for the public improvements and benefit <br />to its property. <br /> <br /> NOW, THEREFORE, IT IS AGREED BY AND BETWEEN THE PARTIES HERETO <br />AS FOLLOWS: <br /> <br /> I. <br /> <br /> PROPERTY RIGHT ACQUISITION BY CITY <br /> <br /> 1. Grant of Property Rights. LANDOWNER hereby agrees to <br />convey to the CITY by warranty deed fee title to the 80 foot wide <br />McKinley Street right-of-way on the Date of Closing. <br /> <br /> 2. Payment to Landowner: As consideration for the property <br />rights granted to the CITY in Paragraph 1 above, the CITY agrees <br />that there will be no special assessments to LANDOWNER,S real <br />property, nor any other type of payment required in exchange for <br />the benefit LANDOWNER,S real property receives from the McKinley <br />Street construction and the storm sewer system serving said street. <br /> <br /> 3. Riqht of Entry. LANDOWNER does hereby grant to the CITY, <br />its contractors and assigns the right to enter upon the McKinley <br />Street right-of-way for the purpose of constructing the storm <br />sewer, watermains, pipes and appurtenances, other utilities, and <br />street, immediately upon execution of this Agreement. <br /> <br /> <br />