15-2765 Authorizing Execution of Second Amendment with Integra Lakes, LLC

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Project Easements February 27, 2015 I February 26, 2016 Sec. 2.4 l Development Plans _ March 29, 2015 August 24, 2015 Sec. 3.1.a Survey T January 28, 2015 July 31, 2015 See. 4.5 The Parties agree that the New Due Dates referenced above shall automatically be extended 30 days if these deadlines are not met, and the Parties shall continue to proceed until each item is satisfied or until a written request for termination is provided by either Party. To the extent that the last day of any time period stipulated in the Agreement or this Second Amendment falls on a Saturday, Sunday or legal holiday (State or Federal), the period shall run until the end of the next day which is neither a Saturday, Sunday or legal holiday. 3. The Parties agree that the following definition for Enviromnental Remediation is hereby added to Section 1.1 as follows: (uu) " pyi_r)nmental_Rcmediation" means the City's performance and completion of the environmental testing and remediation of the Hazardous Materials located on or under portions of the City Center Property known as the "Shell Site", as more particularly described in Exhibit "L" attached hereto. 4. The Parties agree that section 2.4(J) is hereby amended to read as follows: 2.4 0) Access, utilities, stormwater, signage, temporary construction, and other easements over portions of the City Property, and the Residential Parcels as may be reasonably necessary for the construction, development and use of the Residential Parcel, the Project Improvements and the Public Amenities, in form and content acceptable to the City and Integra in their reasonable discretion (collectively, the "Project Easements"). The Project Easements shall be executed and recorded wLtl1in _180 days after eoneimeptly with the Closing and shall be superior in priority to all mortgages, liens and other security interests encumbering the applicable burdened property. With respect to access easements over portions of the Residential Parcels serving the Public Amenities, the parties acknowledge and agree that such access is intended to permit and provide for maintenance of the Public Amenities, pedestrian access to the Public Amenities as depicted in Exhibit "I" and the general use of operation of the Public Amenities, subject to reasonable terms and conditions as to the location and use of such access easements so as to not unreasonably interfere with the use and operation of the Residential Parcels for their intended residential purposes. The stormwater easements will include Maintenance Agreements governing stormwater activities on the Residential Parcels, to protect the City's stormwater system, This Section 2.1(1)SlIall Stu vive tl c Closing; of the, earlier terminatit�n o1't}tis AI;_c c inept. 2