08-13-2003 Council Agenda - Laserfiche WebLink

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the right to use and enjoy the Access Road Easement for purposes of vehicular and pedestrian ingress, egress and access purposes, subject to any restrictions set forth in this Agreement. 3.2 Use and Enjoyment of Utility Easement. In addition to the rights created by dedication in the plat of Drywall Supply Addition, the Owners and Occupants, from time to time, of each Lot, and their respective employees, agents, contractors and invitees, shall have the right to use and enjoy the Utility Easement for purposes of installation, maintenance and use of the Utility Lines, subject to any restrictions set forth in this Agreement. 3.3 Recorded Covenants, Conditions, Restrictions and Easements. The Property is subject to and together with such other covenants, conditions, restrictions and easements as may be recorded against it, and this Agreement is in addition to and not in replacement of any such other covenants, conditions, restrictions and easements. 3.4 Easements and Rights are Appurtenant. All easements and similar rights under this Agreement burdening or benefiting a Lot shall be appurtenant thereto, and shall be permanent, subject only to termination in accordance with applicable law. Any recorded easement benefiting or burdening the Property shall be construed in a manner consistent with, and not in conflict with, the rights and easements created by this Agreement. 3.5. Impairment Prohibited. No person shall materially restrict or impair any easement benefiting or burdening the Property under the terms of this Agreement. ARTICLE IV INITIAL CONSTRUCTION; MAINTENANCE. USE AND RESTRICTIONS 4.1 Initial Construction of Access Road and Utility Lines. Painters shall initially construct the Access Road and the Utility Lines in accordance with the specifications therefor identified on the attached Exhibit A and Exhibit B, respectively. Such construction shall be performed in a good and workmanlike manner and shall be completed within sixty (60) days after the date of this Agreement. 4.2 Payment of Costs of Initial Construction of Access Road and Utility Lines. Upon completion of construction of the Access Road and Utility Lines, Heritage shall pay to Painters two - thirds (2/3) of the costs of construction of the Access Road and Utility Lines ( "Construction Costs "), which costs are as specified on Exhibit A and Exhibit B. Painters shall provide copies of paid receipts and other evidence reasonably satisfactory to Heritage of the payment of such Construction Costs. Upon execution of this Agreement, Heritage's share of the Construction Costs have been deposited into escrow with Commercial Partners Title, LLC ( "Escrow Agent "), and within five (5) business days after receipt of written request from Painters and such evidence of payment of the Construction Costs, Heritage agrees to direct the Escrow Agent to pay its share of the Construction Costs held in escrow to Painters. In the event Heritage does not so direct the Escrow Agent to pay its share of the Construction Costs to Painters within such time, Painters shall be responsible for interest thereon until paid at the rate of seven percent (7 %) per annum. In the event of a dispute as to the proper completion of construction of the -16- 3