2004-02-24_REVISION - M1977153 (6)

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the terms of this paragraph are violated by the Landowner, such violation will be corrected and eliminated within a reasonable time upon receipt of written notice of such violation from the Buyer by the Landowner violating such covenant, or that the Buyer shall have the right, following a reasonable period of time, and without further notice to the Landowner violating such covenant, to correct or eliminate such violation and the Landownerviolating such covenant his successors and assigns shall promptly pay to the Buyer, the actual costs thereof. 8. The purposes of this Agreement are to allow the Buyer to proceed with construction of its project without delay and to allow the Landowner to avoid litigation at this time. It is agreed any increase or decrease in valuation of the Property due to the planning and construction of the Improvements by the Buyer or its agents shall not be used as a factor in the determination of the amount of just compensation due to the Landowner. 9. The Landowner agrees to pay all real estate taxes, including prorated real estate taxes for the current year, due at the time the Buyer takes possession of the Property. 10. This Agreement shall be deemed a contract. It shall bind the parties only when signed by an authorized person on behalf of the Buyer and an authorized representative of the Landowner. This contract shall also extend to and bind the heirs, successors and assigns of the parties. 11. From and after the date the Buyer takes possession of the Property, the Property shall be deemed to be used for public purposes and shall be tax exempt. BUYER CITY AND COL~ITY OF DENVER, acting by and through its BOARD OF WATER COSIONBRS By: Date REGISTERED AND COUNTERSIGNED: APPROVED: Dennis J. Gallagher, Auditor ~~~% // CITY AND COUNTY OF DENVER Di~ or of Engineering / [EXECUTION CONTINUES ON FOLLOWING PAGE]