Agenda - Council - 04/25/2017 - Laserfiche WebLink

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H. TERM/TERMINATION This agreement is effective upon execution and will remain in effect until all obligations under this Agreement are successfully completed by the parties. III. PURCHASE OF LAND/EASEMENT/COST ALLOCATION A. The City agrees to purchase unimproved land from the County, totaling approximately 5.31 acres (the "Property"), for purposes of the Project which is legally described in the attached Exhibit A. The parties agree that the City will pay the County the appraised value of$200,000 to acquire the Property. B. Upon receipt of payment, the County shall convey the Property to the City by a Quit Claim Deed. The deed will reserve an easement to maintain an existing billboard. The County's easement shall exist over, under, and across such tract of land together.with a reasonable right of access for the County's exclusive use to lease and maintain the easement area,or any part thereof,to collect rent therefrom, and to enforce such leases as necessary. The easement area is legally described in the attached Exhibit B. C. Except as provided in paragraph D. below, all costs of the Project, including environmental, engineering, and construction contracts, are assigned to the City. The City anticipates the use of certain grant funds for this project to cover its overall total project cost. Funding obligations not covered by grant funds will be paid for by the City. The County will not be assessed any costs associated with the extension of Riverdale Drive in connection with this JPA. D. The County agrees to pay for expenses involved in the installation and connection of water main stubs, which serve the Mississippi West Regional Park. The anticipated cost of the water main hook-up is $10,000 — $15,000. The City will invoice the County for reimbursement of these expenses upon completion of work. IV. METHODS/DESIGN/CONSTRUCTION The City shall be responsible for all engineering and design services and shall prepare plans and specifications for the Project. The City shall do the calling for all bids and the acceptance of all bid proposals and shall cause the construction of the Project in conformance with the approved plans and specifications. After receipt of all necessary governmental approvals, the City shall cause the commencement of the Project's construction and shall notify the County. V. DISBURSEMENT OF FUNDS All funds disbursed by the parties pursuant to this Agreement shall be disbursed by each entity pursuant to the method provided by law. 2