O-2007-2997 - Laserfiche WebLink

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5. Determination of Land to be Conveyed to La Porte. Upon execution of this Agreement, and engagement of an Architect, Tri-City will cause the Architect to develop the portion of the planned improvements for Tri-City Development Property that include the Proposed Detention Basin to be conveyed to La Porte In consultation with La Porte's Architect for planned improvements to the Park Land, a determination of the specific size, shape of the portion of detention/amenity lake and maintenance berm constituting the Proposed Detention Basin to be conveyed to La Porte, will be formulated. At that time, the Proposed Detention Basin to be conveyed to La Porte will be surveyed by a competent licensed surveyor, to determine the actual metes and bounds, and actual acreage of the Proposed Detention Basin be conveyed to La Porte. 6. Conveyance of Land to La Porte. Upon completion of the requirements outlined in paragraph 5, above, Tri-City shall cause the conveyance of Proposed Detention Basin to La Porte through general or special warranty deed, free and clear of all liens and encumbrances. Legal Fees incurred in connection with the preparation of necessary conveyance instruments to be paid by La Porte. Upon completion of conveyance, La Porte shall execute a Declaration of Gift to the City for Tax Purposes, stating the market value of the Proposed Detention Basin, as determined by the actual cost per acre of said land, and submit to Tri-City in exchange for the conveyance instrument. It is understood and agreed that Tri-Cites will not be authorized to proceed with the Tri-Cites Development Improvements, nor shall it be eligible to receive necessary approval or permitting from the City of La Porte for plans, drawings, contracts, andlor other matters related to said Development, until such time that it has conveyed the Proposed Detention Basin to La Porte. 7. Waiver. The failure of a party to insist in anyone or more instance on the performance of any term or condition of this Agreement shall not operate as a waiver of any future performance of that term or condition. 8. Headings. The headings used in this Agreement appear strictly for the parties' convenience in identifying the provisions of this Agreement and shall not affect the construction or interpretation of the provisions of this Agreement. 9. Legal Fees. If any party to this Agreement succeeds in any legal action to enforce the provisions of this Agreement, the other party or its successor-in-interest (as applicable) shall reimburse the successful party for its attorneys' fees and costs related to the action, in addition to any other relief obtained by the successful party. 10. Governing Law. This Agreement shall be subject to and be governed by the laws of the State of Texas. 11. Notice. Any notice or request required or desired to be given under this Agreement shall be in writing and shall be deemed to have been properly served when (i) delivered in person, or (ii) three (3) days after deposit in the United States Mail, certified, return receipt requested, postage pre-paid, A-3