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extension of Market Drive and the extension of Middle Street (the area highlighted in blue <br />and green on Exhibit B). <br />f. The relocation of First Bank Drive and the extension of Market Place Drive <br />and Middle Street will require the City's acquisition of rights -of -way over and across the <br />Property and other property. In addition, there are storm sewer, sanitary sewer and water <br />mains currently located on the Property which serve a public purpose. The EDA desires to <br />obtain, for the City, right -of -way easements over portions of the Property for Market Place <br />Drive and Middle Street and utility easements over portions of the Property for, and <br />ownership of, the utility mains which serve a public purpose. <br />g. The EDA is requiring the Developer to enter into this Development <br />Agreement and perform the Developer's obligations under this Development Agreement as <br />additional consideration for the Loan. <br />3. Consideration. <br />The EDA is entering into this agreement in consideration for the Developer's <br />agreement to perform Developer's obligations under this Agreement and the Loan <br />Agreement. Developer is entering into the Development Agreement in consideration of the <br />EDA's agreement to perform the EDA's obligations under this Agreement and in the Loan <br />Agreement. <br />4. Obligations of Developer. <br />a. At such time as the City elects to proceed with the extension of Market Place <br />Drive and Middle Street, Developer shall dedicate rights -of -way for street, drainage and <br />utility purposes to the public for the extension of Market Place Drive and the extension of <br />Middle Street over and across those portions of the Property and adjacent property which <br />30804&4 <br />Page 125 <br />