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WHEREAS, the CITY :desires tolremove the Right-of-Access, being the right of ingress <br />to and egress from the RIVER'S BEND property to Trunk Highway No. 47, (the "Access <br />Rights"); and <br /> <br />WHEREAS, RIVER'S BEND desires to purchase from the CITY the City Property; <br /> <br />and <br /> <br /> WHEREAS, the CITY agrees to convey the City Property to RIVER'S BEND and <br />RIVER'S BEND agrees to convey: the :Access Rights to the CITY, all upon the terms and <br />conditions stated herein below. <br /> <br />NOW, THEREFORE, it is agreed by and between the parties hereto as follows: <br /> <br /> CITY PRoPERTy. The CITY will sell and RIVER'S BEND will purchase from the <br />City the City Property ~'or a total consideration of Fifty Thousand and no/100 Dollars ($50~000) <br />to be paid to the CITY 'on the ClOsing Date. <br /> <br />II. <br /> <br /> PARK DEDICATION WAIvER. The CITY shall waive its parks and open space <br />dedication requirements pursuant to. that! certain agreement dated January 10, 1980 by and <br />between the CITY and River's BendI Holdings. <br /> <br />City will also waive its trail fee~ for !Outl°ts Al B and E~ River's Bend 3''a Addition. <br /> <br />III. <br /> <br /> XKIMO/HWY 47 CON~EC;TION FEE. The CITY shall waive RIVER'S BEND'S <br />requirement to pay fifty percent (50%) of the CITY'S share of the cost for the connection <br />improvements for Xkimo Street to Trunk Highway No. 47 as outlined in the River's Bend Fourth <br />Addition Development: Agreement dated August 28, 1995, which Agreement is between the <br />CITY and RIVER'S BEND ~ <br /> <br />River's Bend Holdings, will pro.y,id~ ,fOr a;20 foot permanent and a 15 foot temporary trail <br />easement along the western bogin, dair,g of:the property,. <br /> <br />IV. <br /> <br /> ACCESS RIGHTS. RIvER'S BEND shall convey to the CITY, without charge, the <br />Access Rights. <br /> <br />AS TO THE CITY PROPERTY: <br /> <br />2 <br /> <br /> <br />