BUSCH - REAL PROPERTY PURCHASE, 3450 BUSCH RD, 1986

M N sewer line shall occur no later than commencement of the develop- ment of the Remainder Property and shall have a minimum of two feet of cover. 4. Storm Drainage Improvements. City is contemplating n- stalling all or portions of a permanent storm drainage system to serve the Chu property, eastern Mohr-Martin-Trenery area, the Busch property, and lands to the south of Busch Road at the time of developing the Property. City and Owner agree to cooperate to install temporary storm drainage improvements across the lands of Owner, if necessary. Should City require an easement for storm drainage purposes, City and Owner agree to negotiate a mutually acceptable method, location, and consideration for same. Any permanent storm drainage improvements designed and/or installed by City to serve the Property shall be designed to accommodate the Remainder Parcel. City shall install, or have installed, a storm drainage system capable of serving the Remainder Property no later than commencement of the development of the Remainder Property. Owner agrees to cooperate in the financing of said permanent storm drainage system at the time the city constructs, or has constructed, these improvements. 5. Consideration. City shall pay Owner the sum of ONE MIL- LI©N, .SIX HUNDRED EIGHTY-SEVEN THOUSAND, NINE HUNDRED DOLLARS ($1,687,900.00).. In the event conveyance takes place after May 1, 1986, as provided in Section 7, the consideration shall increase by $9,600 per month, to be pro rated, in recognition of the increased valuation of the property. The compensation described in this section shall constitute the full compensation - 3 -