04-59 Agreement w/ Metro Park - Sale of Scenic Park

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quire and use land. 3. Aa easement tc Lakeweod shall also be reserved in said deed for the location, mss, repair and replacement of sewer, water er ether utility lines necessarY for the operation ef said sewage treatment plant, or for the benefit ef other contiguous lands new or hereafter belonging to Lakewood, in smch mamner and location as will not mmaecessarily in- terfere with the use, enjoyment, operation and appearance ef the park lands described hereiaaboveo Following the location, mse, repair or replacement of such utility lines, the park lands shall be restored te their matmral or improved condition by Lakewood to thereat andas seem as possible. 4. Compensation to be paid by the Park Board to Lakeweod for the conveyance of the fee simple title cf said land shall be $1.00. Ia ad- dition the smm ef $?5,?$9.0© shall be paid by the Park Beard to Lakewoed as f~ll and complete settlement of all claims heretofore made er which might have been made by Lakeweod against the Park Beard in cenneetlea with the control, development and use of the lauds described above, er ia amy way arising oat of, er in connection with, said agreement of April 2~, 1925, and said agreement shall be terminated and cancelled upon the conveyance ef the lands described herein. As a fmrther consideration, the Park Board agrees that it will not assess any portion ef the cost ef the development or improvement on said realty upon premises belonging to Lakewood abutting, Cen~igmous, adjacent, er lands otherwise specifically benefited by smch develop- meat or improvement. The Park Board shall proceed forthwith to prepare plans for later than three years from the date of this agreement, subject, however, to any delay or delays caused by eire~mstamces or eoaelttieas not within the control of the Park Beard amd mot eamsed er eontribmted to by the Park Board. The said bridge shall be constrmeted according to plans and specifications to ~e approved by the Mayor amd ~ity Engineer ef Lakewoed. Park Beard shall f~rnish a performance bond, at Lakewoed's ex- pense, inthe amount ef $50,~©©.~ gmaranteeing the censtrmction of sai~ bridge within said period in accordance with the terms of this agree- ment. 6. The Park Board shall proceed te repair the small beat lammch- lng ramp presently located en the above described lamd and install a hard surface roadway, according to plans approved by Lakewoed,~within cae year of date ef this agreement° Park Board fmrther agrees te con- struct additional facilities for the lammching of small boats so that the present capacity of sash facilities will be tripled withim three years of date ef this agreement. 7. Park Board ~ll accept conveyance ef fee title te lauds described above, smbject te the rights ef the Port ef Lakeweed, if any$ and Park Board agrees, so long as the Port of Lakeweod remains in ex- istence in its present location, not te prevent er interfere with the use ef the roadway leading to the Port of Lakewood er the use of the Port ef Lakeweod by any member of the publis; Park Beard fmrther agrees to maintain an~ keep open the existing roadway te said Port ef Lakewood. 8. The deed and cash payments provided for herein shall be de- posited~th The Land Title Guarantee and Trmst Company, as escrow agent, withim ninety days of the e~ecution ef this agreement, amd said escrow agent shall distribute~ said f~ds and file said deed when and if The Laud Title Guarantee and Trmst Company cam fmraish to the Park Board a