2007 019 Resolution - Laserfiche WebLink

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under this Paragraph 4(a), the Village may, but shall not be required to, make such repairs or replacements or maintain the North Entrance Area, the cost and expense for which shall be paid by Heinen's within thirty (30) days of the Village's written demand therefor. (b) Village shall be solely responsible, subject to Paragraph 4(c) below, at its sole cost and expense, for the maintenance, repair and replacement of any improvements on the Village Parcel. During such work, Village agrees to use reasonable efforts to minimize interference with the rights granted to Heinen's in this Agreement. (c) Commencing on the tenth anniversary of the Effective Date of this Agreement (the "Cost Sharing Effective Date"), Heinen's shall pay the Village for the cost of the maintenance, repair and replacement of the pavement within the Parking Area accruing on or after the Cost Sharing Effective Date as provided in this Paragraph 4(c). At least sixty (60) days prior to the Cost Sharing Effective Date and at least sixty (60) days prior to the end of each successive ten (10) year period thereafter, the Village Engineer shall prepare and deliver to Heinen's a"Total Estimated Maintenance Cost" for the entire Village Parcel parking area for the next following ten (10) year period, and Heinen's shall thereafter pay the Village for the cost of the maintenance, repair and replacement of the pavement within the Parking Area at a rate of twenty percent (20%) of the Village Engineer's Total Estimated Maintenance Cost for the entire Village Parcel parking area ("Heinen's Proportionate Share"), at Heinen's election, either in a lump sum or divided into equal annual payments over such ten (10) year period; provided however, in the event that the Village determines that it will be necessary to undertake such maintenance, repair and/or replacement of the Parking Area, the Village shall provide Heinen's advance written notice of such determination at least sixty (60) days prior to undertaking such work. Within thirty (30) days of each anniversary of the Cost Sharing Effective Date, the Village shall deliver to Heinen's a statement of the actual costs for the maintenance, repair and replacement of the pavement within the Parking Area for the prior year (the "Actual Maintenance Costs"), together with copies of the invoices evidencing such costs. In the event that the Actual Maintenance Costs are less than the Heinen's Proportionate Share paid by Heinen's for such year, the Village shall enclose a refund of the difference between the Heinen's Proportionate Share and Actual Maintenance Costs with the statement of the Actual Maintenance Costs; provided, however, in the event that the Actual Maintenance Costs for a given year were more than the Heinen's Proportionate Share paid by Heinen's for such year, Heinen's shall pay to the Village the difference between the Actual Maintenance Costs and the Heinen's Proportionate Share within sixty (60) days of receipt by Heinen's of the statement of Actual Maintenance Costs. Default and Remedies. (a) In the event of any default by either Owner under the terms of this Agreement and following thirty (30) days written notice from the non-defaulting Owner to the defaulting Owner specifying such default, the non-defaulting Owner shall be entitled to exercise all remedies available at law or equity, including specific performance. In the event that either Owner exercises its rights under this Paragraph 5, the defaulting Owner shall promptly reimburse