1998 010 Ordinance - Laserfiche WebLink

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all expenses for the portion of the Roadway from White Road and SOM Center to the southern end of the Progressive parcel formerly owned by Friedman. (However, the Village and Progressive agree that the expenses to be shared do hot and will not include any expenses related to the delineation or mitigation of wetlands on the parcel formerly owned by Friedman). Such sharing of costs will be 50/50 regardless of whose property abuts the Roadway and/or utilities. However, the Village and Progressive agree to enter into a separate "Restrictive Covenant" agreement with reference to the final phase of the Roadway and utilities going to the southern boundary of the Friedman property so as to provide for a contribution from the adjacent property owners for a portion of this final phase before connecting, based upon their proportionate anticipated use of same as determined by the Village's consulting engineer for this phase of the project. The costs for all improvements assumed by Progressive will be assessed to Progressive and will be net of any ODOD or other financing assistance and will include costs of utilities infrastructure for that portion, including electric, gas, telephone, water and sewer. The Village shall diligently endeavor to complete construction of the Roadway's SOM Center Road curb cut and that portion of the Roadway needed for access to the Development no later than December 31, 1998. However, failure to meet this deadline wilt not permit termination of the other obligations in this agreement. As to Progressive's obligations under Section 3 for all aforementioned public improvements, Progressive will have the option of paying its obligation wheri due or having same assessed against the Progressive property. 4. TEMPORARY ACCESS. Commencing on the date of this Agreement and continuing until Village has completed construction of the Roadway, Village hereby grants to Progressive and its agents and contractors the right to construct and use a temporary access road and temporary utility lines from SOM Center Road to the Development site across Village's property at the location set forth in Exhibit "B" or as agreed upon by the Village, and provided that the property is left in the same or better condition when construction is completed. 5. PURCHASE PRICE ADJUSTMENTS. Progressive and the Village agree that the exchange of properties results in a credit due to Progressive from the Village in the amount of $197,975.00. Progressive will be given credit in the form of "in kind services" at some point during the Development, and whatever portion is not credited as mutually agreed upon between the parties, will come off the top of any special assessments which are due from Progressive to the Village at the time they are finalized. . 6. SEVERABILITY. Each paragraph herein shall be severable from the others, and separately enforceable. Breach of any paragraph will not allow recision or termination of the entire agreement, but will entitle the other party to specific performance and related damages, including attorneys fees. (10) 3