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• <br />• <br />2. PROPERTY BEING CONVEYED TO CITY: For and in <br />consideration of the vacating, abandoning, and closing of <br />the above described street rights -of -way by City, as <br />described in Paragraph 1 hereof, S.P. shall grant and convey <br />to the City, the following: <br />a. An area, the general location of which is shown on <br />attached Exhibit "B", shall be dedicated by S.P. to <br />City for future use by City as 16th Street and "J" <br />Street. The proposed rights -of -way shall be 100 ft. <br />wide and conform substantially to the alignment shown <br />on Exhibit "B". City and S.P. agree that reasonable <br />adjustments to the 16th Street and "J" Street rights - <br />of -way shall be determined by mutual agreement between <br />City and S.P. at a future date. <br />Both City and S.P. shall cooperate one with the other <br />to facilitate reasonable adjustments to the dedication <br />of said 16th Street and "J" Street rights -of -way. Any <br />such adjustment of said rights -of -way shall conform <br />substantially to the alignment shown on Exhibit "B", <br />attached hereto, conform to City standards and <br />recognized traffic engineering principles. <br />It is further agreed between City and S.P. that the <br />dedication of 16th Street and "J" Street shall not be <br />construed by City as an attempt by S.P. to formally <br />subdivide or otherwise develop the property and City <br />agrees to waive any and all City fees that S.P. would <br />pay that are normally associated with subdivision <br />dedications. Provided, however, in the event that <br />S.P., its successors or assigns, hereafter subdivide or <br />develop all or part of the remaining acreage, the <br />future subdivided or otherwise developed portion be <br />subject to City's then prevailing ordinances and <br />policies regarding subdivision and or development of <br />land, including liability for payment of fees thereon. <br />b. S.P. shall grant and dedicate to the Public, <br />an easement for drainage purposes shown on attached <br />Exhibit "B" and further defined as "Drainage Easement". <br />S.P., its successors and assigns, shall be allowed to <br />construct and maintain rail facilities over this <br />proposed easement area subject to City's ordinances and <br />policies regarding such development. <br />City and Harris County Flood Control District shall <br />have prior right of approval of plans and <br />specifications, to assure that the water carrying <br />capacity of the channel is not reduced as a result of <br />future construction of rail facilities by S.P. All <br />4 <br />