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. . Ordinance 96-2089 Page 3 of 4 above conditions have been satisfied, this temporary easement shall be permanently abandoned together with all rights appurtenant thereto. Further provided that the City of La Porte, for benefit of Houston Lighting and Power Company, a duly authorized franchise utility company of the City of La Porte, retains a temporary aerial and ground utility easement for the operation of electrical service lines located in the alleys of Town of La Porte Blocks 865 and 900, bounded by the North right-of-way line of Fairmont Parkway, crossing the West "I" Street Right-of-Way, and bounded by the South right-of-way line of West "H" Street. Said easement being further described by map illustration attached to this ordinance, identified as Exhibit "C" and fully incorporated by reference herein. Said easement shall be retained until such time as replacement electrical utility lines have been constructed, accepted by Houston Lighting and Power Company and placed into service. At such time as the above conditions have been satisfied, this temporary easement shall be permanently abandoned together with all rights appurtenant thereto. Section 2. The City of La Porte and J .A. C. Interests, Inc., contemplate entering into a Utility Extension Agreement to provide public utilities in the project. Section 3. The City Council officially finds, determines, recites and declares that a sufficient written notice of the date, hour, place and subject of this meeting of the City Council was posted at a place convenient to the public at the City Hall of the City for the time required by law preceding this meeting, as required by the Open Meetings Law, Article 6252-17, Texas Revised Civil Statutes Annotated; and that this meeting has been open to the public as required by law at all times during which this ordinance and the subject matter thereof has been discussed, considered and formally acted upon. The City Council further ratifies, approves and confirms such written notice and the contents and posting thereof. Section 4. This ordinance shall be effective upon the performance of the following conditions : (1) Payment from applicant to City of the sum of $168,785, in certified funds, on or before March 15, 1996, as consideration hereunder. The cash consideration shall