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e e AGREEMENT THE STATE OF TEXAS ~ COUNTY OF HARRIS ~ CITY OF LA PORTE ~ This Agreement is made and entered into by and between City of La Porte, a body cotporate and politic under the laws of the State of Texas, hereinafter called "City," and the Fairmont Park East Homeowner's Association, Incorporated, a non-profit corporation chartered under the laws of the State of Texas, hereinafter called "FPEHOA It; RECITALS: 1. It is to the mutual benefit of City and FPBHOA to construct and develop a combination park and detention basin facility, on land owned by City as a joint venture designated herein, including parking facilities, storm sewer connections, park service equipment and related appurtenances, hereinafter called the "Project." 2. The Project will include construction, relocations and/or improvements involving earthmoving, a retaining wall, pond establishment and other basic improvements designed to provide stormwat'er storage and park shaping, hereinafter sometimes called the "Phase I Park & Basin Improvements". It is recognized that the retaining wall and associated earthwork is an enhancement, but is included in Phase I Parlc&'Basin Improvements for cost efficiency. That part of the Project that includes a parking lot, sidewalks. and park service equipment shall sometimes be called the "Phase n Basic Park Provision". That part of the Project that includes waterfall and other enhanced appurtenances shall sometimes be called "Phase ill Park Enhancements". 3. The FPEHOA is willing to contnbute $35,000 toward costs of Phase I Park & Basin Improvements, provided that City will contdbute the remaining costs to construct the Phase I Park & pasin Improvements. The FPBHOA is willing to contnbute $20,000 toward costs of the Phase n Basic Park Provision, provided that City will contnbute the remaining costs to construct the Phase n Basic Park Provision. The FPBHOA is willing to contnbute $20,000 toward costs of the Phase ill Park Enhancements, provided that City will contribute the remaining costs to construct the Phase ill Park Enhancements. The administration of design and construction of the Project will be considered the purview of the City. City has caused the design of all phases of the Project to be completed. All costs attnbutable to the cost of the Phase I Park & Basin Improvements, including costs of engineering, construction and construction support services will sometimes be called the "Phase I Park Improvement Costs." All costs attributable to the cost of the Phase II Basic Park Provision, including engineering, construction and construction support services will sometimes be called the " Phase n Basic Park Provision Costs." All costs attrIbutable to the cost of the Phase ill Park Enhancements, including engineering, construction Agreement - City of La Porte aud FPEHOA, Page 1 of 7