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corporation, all of Outlot A, Outlot B, Outlot D, and Outlot E (formerly the park in White Pine Estates), subject to the sole condition that said property be utilized for public recreational p~rposes consisting of a golf course, to be opened for play to the general public as described by Exhibit C attached hereto. Even though the proposed golf course shall be open to the general public as described herein, the real property on which the golf course is located shall be subject to real property taxes, and not exempt therefrom by virtue of said golf course being forever open to the public. ~he conveyance of said Outlots A, B, and D shall be made as soon as practical after any operational time periods as required by the City Charter or City ordinances, subject to the contingency noted in Article 4 below (see Exhibit C attached for form of restrictions to be imposed by City). e. Payment for~_~ark Notwithstanding the provisions of article 3d above, Developer shall cause to be placed into escrow the sum of $5100.00, which sum shall be paid over to the City in the event that the City, at its option, determines to accept said payment. It is acknowledged by City that this sum represents the amount of park land dedication fee which would have been paid had a park land dedication fee been utilized in the platting of White Pine Estates. City further acknowledges, however, that it has been informed that Rum River Hills, Inc. ~ 'intends to make a proposal to the City, which proposal will be presented within 120 days after the filing of the plat, describing an alternative method of providing consideration to the City for its conveyance of Outlot E. However, it shall be solely the option of the City as to whether or not to accept said alternative method of I I I I ! I I I I I I I I I I I I i