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North Olmsted, Ohio (the Site and, together with the New Building, collectively, the "New <br />Facility"); and <br />WHEREAS the City and the Trustees entered into an Agreement dated as of December <br />19, 2000, under which the City agreed to proceed with the preparation, landscaping and <br />improvement of the Site and the construction, furnishing, equipping and improvement of the <br />New Building, and the Trustees agreed to cooperate in that process and to operate a fully staffed <br />and functioning free public library in the New Facility; and <br />WHEREAS the City entered into construction contracts for the New Facility <br />(collectively, the "Construction Contracts"); and the New Facility has been substantially <br />completed; and <br />WHEREAS, the Trustees, with the understanding of the City and in contemplation of the <br />execution and delivery of a Lease Agreement which has been approved by the City, has begun <br />preparations to move the operations of the North Olmsted Branch into the New Facility, and plan <br />to commence operating the New Facility on April 9, 2004 at 12:01 a.m. (the "Effective Date"); <br />and <br />WHEREAS, the Trustees accordingly now wish to vaca.te and surrender up the Existing <br />Facility, and at the same time to formally terminate the prior Lease Agreement of September 1, <br />1965. <br />NOW, THEREFORE, in consideration of these presents and the mutual promises and <br />undertakings herein contained, and for other good, sufficient and valuable consideration, the <br />receipt and sufficiency of which are hereby acknowledged, the parties of this Cancellation and <br />Termination of Lease Agreement do hereby covenant and agree as follows: <br />2 <br />?.r.-. ... , .,, ?....a , <br />,,?•???? ???.,,_ .,