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<br />F'~ ~ i""ODY <br />'I..~ ~ '. <br /> <br />cJ:n or LA PORT. DBVBLOPlOIBT CORPORATJ:ON <br /> <br />La Porte, Tex.. 77571 <br /> <br />@ <br /> <br />604 West rairmont Parkway <br /> <br />July 1, 2009 <br /> <br />Mr. Garson Silvers, Manager <br />GSDB Management, L.L.C. <br />General Partner of <br />East A Developments, L.P. <br />1001 Usener <br />Houston, TX 77007 <br /> <br />Dear Mr. Silvers: <br /> <br />This letter will confirm agreements reached in our recent telephone <br />conversations. <br /> <br />The City of La Porte Development Corporation (hereinafter <br />"Development") is presently constructing Town Plaza Park on the <br />property which it purchased from East A Developments, L. P . , <br />including the triangle tract of land, and the former San Jacinto <br />Street right-of-way. <br /> <br />In the course of construction, the contractor has discovered two <br />underground petroleum fuel tanks, on Lots 6 and 7, in Block 198, <br />Town of La Porte, an addition in Harris county, Texas, according to <br />the map or plat thereof recorded in Volume 8, Page 16, of the Map <br />Records of Harris County, Texas, and the alley adjoining said Lot <br />6 (hereinafter "Property"). Petroleum products from one or both of <br />the petroleum fuel tanks has migrated into the former San Jacinto <br />Street right-of-way property, and into the alleyway abutting Lot 6 <br />of the Property. <br /> <br />Under applicable State of Texas and federal statutes and rules, <br />these fuel tanks must be removed, and the affected soil must be <br />properly remediated and back-filled. The estimated cost of the <br />removal, remediation, and back-fill is $28,916.00. This estimated <br />cost is subject to adjustment as the remediation is conducted. <br /> <br />Development agrees to engage, supervise, and pay contractors to <br />remediate the Property. This letter is to confirm the agreement of <br />East A Developments, L.P., that Development, and its contractors, <br />may enter upon the Property, as necessary, to conduct these <br />remediation activities. Development will assign its contractor <br />warranties to East A Developments, L.P. <br /> <br />This letter is further to confirm the agreement between East A <br />Developments, L . P. , and Development, that Development will <br />initially pay for the cost of remediation, in the estimated sum of <br />$28,916.00, or as that cost may be finally adjusted upon completion <br />of the remediation, and that East A Developments, L.P., <br />