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the City's Finance Director. [Buyer does not object to this term and understands that they will be responsible for an <br />interim cul-de-sac if Phase 2 is not commenced.] <br />Other considerations (Development Agreement): <br />3. Consider the `interim cul-de-sac' on 152nd Circle NW in an alternate alignment (as shown on the approved Preliminary <br />Plat or based on physical conditions post -demolition of the former municipal center), not in a temporary alignment on <br />152nd Lane NW. [Buyer does not object so long as the maximum contribution does not exceed amount already agreed <br />to for interim cul-de-sac.] <br />a. With the proposed extension, the demolition of existing improvements will be completed prior to construction <br />of the interim cul-de-sac. From a built environment perspective, it is may be possible to construct the interim <br />cul-de-sac in its final alignment without conflict with the former PD Building or require modification based on <br />post -demolition of the former municipal center. <br />City would agree to accept the Engineer's Estimate of the interim cul-de-sac as the maximum amount of obligation of the <br />Developer. If the City chose to construct an interim cul-de-sac solution in the final alignment of 152nd Circle, the Developer <br />would not be responsible for the additional costs above and beyond the current interim solution on 152nd Lane. The purpose <br />of this clarification is to ensure that the City can apply these dollars towards a final solution, if it so chose, rather than an <br />interim solution that would eventually be removed. <br />Purchase Agreement (Phase 2) — Prepared by: Patrick Brama, Assistant City Administrator/Economic Development Manager <br />1. $15,000 Escrow, $5,000 of the $15,000 is non-refundable. [Buyer objects to this recommendation] <br />2. Amend Paragraph 3 to state that Closing on Parcel B shall occur by July 31, 2017 (previously 30 days after notification <br />to demolition of existing improvements). <br />Sincerely, <br />CIT <br />• ' <br />4 4 <br />04,4 fr4 <br />Tim Gladhill <br />Community Development Director <br />CC: Patrick Brama, Economic Development Manage <br />