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• SECTION II FALCON HEIGHTS ELEMENTRY SCHOOL PLAYGROUND 2.1 Equipment. A. The City will pay to the District Fifteen Thousand Dollars ($15,000.00) to be used by the District for the purchase of recreational equipment. The equipment to be purchased with the contribution of the City is identified on Exhibit "B" attached hereto. (Hereby known as amenity #1) as shown in Exhibit "C" attached hereto. B. The District shall install the equipment on the playground portion of the property legally described in the attached Exhibit "A" ("District Property"). C. Amenity #1 will be owned by the District. The District shall promptly fix or replace any damage to Amenity # 1 and shall keep Amenity #1 and the District Property in good repair and in a safe condition. 2.2 Equipment Buy Back. In the event that (a) the District removes Amenity #1 from the District • Property; (b) the District sells the District Property to a third party; or (c) the District otherwise terminates this Agreement, then the City shall have the option to purchase amenity # 1 for $1.00. 2.3 Right of First Refusal. The City shall have the right of first refusal if the District Property or any part thereof, is offered for sale to a third party. The right of first refusal shall arise if the District enters into a purchase agreement with any third party. In that event, the District shall provide written notice of the purchase agreement with the third party to the City along with a true and correct copy of the purchase agreement. The City shall then have fifteen (15) days from the date of delivery of the notice and purchase agreement to exercise its right of first refusal. The right of first refusal will entitle the City to purchase the property described in the purchase agreement under the same terms and conditions offered to the third party in the purchase agreement. If the City fails to give notice within the prescribed fifteen (15) day period, the right of first refusal terminates. • sC