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PLEASE RETURN TO: CATRINA DELOSH PUBLIC WORKS DEPARTMENT PO BOX 1968 GRAND ISLAND, NE 68802 as II 2 Z CI rs 7C _ 1 This Space Reserved for Register of Deeds r — C) cn SUMMERFIELD ESTATES 8 SUBDIVISION PAVING AGREEMENT This Paving Agreement is made by and between the CITY OF GRAND ISLAND, NEBRASKA, a municipal Corporation, herein referred to as the "City" and LITTLE B'S CORPORATION, DEVELOPER, hereinafter referred to as the "Developer ". 1. STATEMENT OF PURPOSE. The purpose of this Agreement is to set forth the reimbursement from the City to the Developer for items associated with the bike trail and headwall structure within the Summerfield 8 Subdivision paving area; a tract of land consisting of part of the West Half of the Southwest Quarter (W 1 /2, SW IA) of Section Twelve (12), Township Eleven (11) North, Range Ten (10), in the City of Grand Island, Hall County, Nebraska, and said tract containing 12.22 acres. 2. DEVELOPER'S DUTIES. It is understood and agreed that the Developer may construct roadways within said Summerfield 8 Subdivision per such subdivision agreement. Within said subdivision paving construction is also necessary for a bike trail and headwall structure, which is the responsibility of the City. Costs for such construction are detailed as $14,070.00 for the bike trail (100% of the construction cost) and $15,480.00 for the headwall (90% of the construction cost). An itemized billing for such construction shall be submitted to the City for payment to be made from. 3. FUTURE RESPONSIBILITY. Upon completion of the bike trail and headwall structures the City shall assume all responsibility for such structures. 5. EFFECTIVE DATE. This Agreement shall take effect on the date it is executed by the Mayor & City Council of the City of Grand Island as dated below. 4. SUCCESSORS AND ASSIGNS. This agreement shall be binding upon the parties hereto, their successors and assigns. 5. ENTIRE AGREEMENT. This Paving Agreement constitutes the entire agreement between the parties notwithstanding any other oral or written agreements to the contrary. This Agreement shall be amended only in writing executed by all parties hereto. 6. CHOICE OF LAWS. This Agreement shall be construed in accordance with the laws of the State of Nebraska and the City of Grand Island, Nebraska.