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WHEREAS, the Village has agreed to grant the District a stormwater easement over the entirety <br />of the Parcel for stormwater inspection and maintenance in accordance with the RSMP Service <br />Agreement; and <br />WHEREAS, the parties desire to enter into this Agreement to memorialize the understanding of <br />the parties with respect to the usage of the District Funds; <br />Now, therefore, in consideration of the foregoing, the District and the Village agree to enter into <br />this Agreement for the continued benefit of the Regional Stormwater System, as set forth below. <br />ARTICLE 1. OBLIGATIONS OF THE VILLAGE <br />1.1 Performance of the Project. The Village shall be responsible for <br />performance of the Project, which shall consist of the demolition and disposal of a <br />residential structure and associated contents and improvements at the Parcel, all <br />according to applicable Federal, State, and local laws. <br />1.1.1 Project Coordination. The Village shall coordinate <br />with the District's representatives during all critical stages and milestones <br />of the Project. The Village shall submit to the District Settlement Statements <br />for the acquisition of and final invoices for demolition services for the <br />Parcel. <br />1.1.2 Project Presentations. The Village shall <br />acknowledge the District in presentations or publications related to the <br />Project. <br />1.2 Utilization of District Funds. The Village shall use 100% of the <br />District Funds for activities and/or expenses related to the Project, as approved by <br />the District. The approved activities and/or expenses consist of Parcel acquisition <br />