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200406866 Section 7. Improvement District. The Developer agrees to sign a paving petition in the event it is necessary to reconstruct South Locust Street or Highway 34 after the improvements contemplated by this Agreement are constructed. Except as to the Trail Improvements, the owners of the lots within the Developer Property shall construct public sidewalks along public streets abutting their respective lots at the time such lot is built upon in accordance with City ordinance. Section 8. No Obligation To Construct or Operate Upon the Developer Property. The City acknowledges and agrees that the Developer has made no promise or commitment to construct any road or street, construct or operate any retail facility upon the Developer Property or make any other use of the Developer Property, and the City releases the Developer from any and all claims and liability resulting from the Developer's decision not to construct or operate any road, street or retail facility upon the Developer Property. If the Developer has not applied for a building permit on or before December 22, 2005, the City may initiate a reversion of zoning of Developer Property to the TA District. Section 9. Subdivision Approval; Site Plan Approval; Annexation. The Plat complies with all of the terms and provisions of the Grand Island City Code and has been approved by the City concurrently with this Agreement. City hereby approves of (i) all matters set forth in the Site Plan and (ii) the character and locations of pedestrian and vehicular access from the Developer Property to Highway 34 and South Locust Street as shown in the Site Plan. The land encompassed and described by the Plat has been annexed into City. (a) Design and Construction. The buildings to be constructed on the Developer Property shall be designed so that the exterior elevation of such building shall be architecturally and aesthetically compatible in material and color with any building constructed by Wal -Mart on the Wal -Mart Property. The design and construction shall be in conformity with sound architectural and engineering standards and the construction shall be first quality. No portion of any building constructed on the Developer Property (including architectural features) shall exceed a height of 45 feet above the center of the intersection of U.S. Highway 34 and South Locust Street. (b) Location. No building shall be constructed on the Developer Property except within the Building Envelope Areas as defined on the Site Plan. (c) Signage. Signage on the Developer property shall be permitted at the locations approved on the Site Plan. Signage shall be limited to wall mounted signs permissible by the Grand Island sign code at the time of application for the signage and one (1) monument style sign not to exceed ten (10) feet in height or width for the entire sign structure on each platted lot. In addition two monument style signs may be constructed each not to exceed 14 feet in width and 10 feet in height with one located on Outlot A for the main Entrance on South Locust Street and one on Outlot B for the benefit of Lot 6. All sign bases shall be built from materials similar to the buildings and shall be illuminated internally. (d) Flood Plain. Since the Plat is within a delineated flood plain, all structures constructed shall have the lowest floor elevation to a minimum of one foot above the elevation of the 100 -year flood as determined by the building permit received by the Developer or its 01- 585772.06 4