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M construct and maintain the Ponding Site Improvements pursuant to the terms of the Redevelopment Agreement; WHEREAS, Apache Park, as a subsidiary of St. Anthony Retail and as the current owner of the Apache Park Property, desires to enter into this Agreement with the Authority and the City with respect to the assignment and assumption of the construction, maintenance and other obligations required to be performed pursuant to Sections 5.13 and 5.14 of the Redevelopment Agreement regarding the Ponding Site Improvements on the Apache Park Property, to more fully set forth the maintenance and management rights and obligations with respect to such Ponding Site improvements and to grant an easement to the City over the Apache Park Property for park purposes. NOW, T1 HUTORE, in consideration of the mutual covenants and agreements contained herein, the Authority, the City, St. Anthony Retail and Apache Park agree as follows: I. St. Anthony Retail hereby assigns to Apache Park, and Apache Park, as the current owner of the Apache Park Property, hereby assumes from St. Anthony Retail all rights andobligations of the Commercial Developer under Sections 5.13 and 5.14 of Che Redevelopment Agreement with respect to construction and maintenance of the Ponding Site Improvements on the Apache Park Property from and after the date hereof. 2. Apache Parlc hereby grants and conveys to the City, for the City's benefit, a non- exclusive casement and right to use the Apache Park Property for park purposes (the "Park Easement"). The Park Lasement hereby granted will be for the benefit of, but not solely to the City, and the City may grant the right to use the Apache Park Property to the public for park purposes only in conformity with the terms and conditions of this Agreement. 3. Apache Park agrees to construct the Ponding Site Improvements located on the Apache Park Property, as depicted on Exhibit S attached to the Redevelopment Agreement and any separate Construction Management Agreement between Apache Park and the City. The City and the Authority agree to reimburse Apache Park a portion of the cost of the Ponding Site Improvements as more fully set forth in Section 5.13 of the Redevelopment Agreement payable by the City directly to Apache Park. Apache Park agrees to use competitive bidding for purposes of constructing the Ponding Site Improvements and will bid and separately certify all costs to the Authority and the City with respect to such. Ponding Site Improvements. 4. Apache Park shall manage and maintain the Ponding Site hnprovements and park located on the Apache Park Property according to the City's requirements set forth on Exhibit A attached. ht managing the Apache Pink Property, Apache Park shall enforce the City's rules as set forth on Bxhibit B attached. 5. Apache Park shall deliver to the City by July 1 of each year an estimate of Apache Park Property maintenance costs for the following calendar year and without further notice the City shall pay to Apache Park in monthly installments 1/12°i of such estimate, prorated for any partial calendar month. If Apache Park does not deliver an estimate of the Apache Park Property maintenance costs by July of any year, the City shall continue to pay Apache Park Property 2