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. <br />• <br />• <br />• <br />0 <br />• <br />E <br />(5) City agrees to accept said sum as provided <br />in the immediately preceding paragraph, in lieu of <br />any front foot or square footage connection charge <br />for water services against the above described pro- <br />perty owned by Chemetron (the "Subject Tract"). <br />11 <br />(6) Upon execution of this Agreement, City <br />agrees to begin the preparation of final enginAering <br />plans and specifications for the said water main ex- <br />tensions, and to begin construction thereof as soon <br />as the same may be let for contract as herein provided. <br />City shall require the contractor under such bid to <br />diligently pursue the construction of the water main <br />extensions to completion. Provided, however, nothing <br />herein con._ained shall be deemed a waiver of City's <br />right to Y(-,ject any and all bids which may be submitted <br />by contracf.ors for said water main extensions. <br />(7) f'hemetron has, contemporaneously with the <br />execution ^_roof, paid to City the sum of Forty Thou- <br />sand Six T.`.V,,dred Eight Dollars ($40,608.00) , as con- <br />sideratio.r.) for the closing of the hereinabove described <br />streets alleys within the City of La Porte; and, <br />Cheme,troii ).;_ s additionally paid the sum of Four Hundred <br />Fifty Doll--:.rs ($450.00) , appraisal fee, to Otis Graham, <br />Realtor. Such payments, together with the payment for <br />the water main extensions as herein provided, shall be <br />in full anc`, final satisfaction of all obligations of <br />Chemetron in connection with said water line and this <br />Agreement, except for the covenants contained in <br />Paragraphs (1) and ( 2 ) hereof. <br />-3- <br />