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273913v3 SJR MU205-30 <br />2 <br /> G. Pursuant to the Development Agreement and the Leases, the rent received from by <br />Medtronic has been assigned to the City. <br /> <br /> H. Medtronic desires to have, and the City desires to grant, access across a portion of <br />the Triangle Parcel so that the Billboards may be maintained according to the terms and conditions <br />of the Leases. <br /> <br />I. Pursuant to the terms of the Development Agreement, the City desires to grant <br />access rights to Medtronic so that Medtronic can connect their trail system to that of the City. <br /> <br />J. Pursuant to this Agreement, the City desires to grant access rights to Medtronic so <br />that Medtronic can construct and maintain the Fountain. <br /> <br />K. The City desires to grant to Medtronic the easements contemplated herein, according <br />to the terms and conditions contained herein. <br /> <br />AGREEMENT <br /> <br /> NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of <br />which is hereby acknowledged, the City and Medtronic agree as follows: <br />1. Recitals. The recitals set forth above are incorporated into this Agreement by <br />reference. <br />2. Grant, Construction, Maintenance and Use of the Fire Road Easement. The City <br />hereby grants, bargains, sells and conveys to the present and any future owner of the Medtronic <br />Property, its employees, invitees, agents, tenants and guests, a perpetual easement for the <br />purpose of constructing, maintaining and using the Fire Road, as depicted on Exhibit C, for <br />ingress and egress of vehicular and pedestrian traffic (the “Fire Road Easement”). Medtronic <br />shall construct the Fire Road and shall be solely responsible for all maintenance and repair of the <br />Fire Road, including removal of snow and ice. The City shall have no responsibility for the <br />maintenance or repair of the Fire Road. <br />3. Construction, Maintenance and Use of the Fountain. The City hereby grants, <br />bargains, sells and conveys to the present and any future owner of the Medtronic Property, its <br />employees, invitees, agents, tenants and guests, a perpetual easement for the purpose of <br />constructing, maintaining and using the Fountain located in the Holding Pond, as depicted on <br />Exhibit C (the “Fountain and Holding Pond Easement”). Medtronic shall construct the Fountain <br />and shall be solely responsible for all maintenance and repair of the Fountain. The City shall have <br />no responsibility for the maintenance or repair of the Fountain. <br />4. Grant of Billboard Access Easement. The City hereby grants, bargains, sells and <br />conveys to the present and any future owner of the Medtronic Property, its employees, invitees, <br />agents, tenants and guests, a perpetual easement for the purpose of ingress and egress of <br />vehicular and pedestrian traffic, extending over, upon and across the Triangle Parcel for the <br />purposes of accessing the Billboards as required by the Leases (the “Billboard Access <br />Easement”).