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Construction of Parking acility. The Owner hereby agrees to construct 138 additional <br />parking spaces, upon the Subject Property, the location, design and construction thereof being in <br />accordance with the Geometric and Paving Plan, Sheet No. C-2, dated 8-12-97, revised 8-14-97 <br />by Clark Engineering Corporation, on file with the Community Development Director of the City. <br />Timing of Construction. The additional 138 parking spaces shall be constructed within <br />one (1) year after notice by the City to commence construction. <br />Payment of Costs. Responsibility for payment of the costs of construction of the 138 <br />additional parking spaces shall be borne by the Owner, its heirs, successors or assigns. <br />Duration. The covenants set forth herein shall run with land and shall be binding on all <br />persons claiming ownership thereunder for a period of thirty (30) years from the date this <br />declaration is recorded. Thereafter, the covenant shall be automatically extended for successive <br />periods of ten (10) years, but shall expire, in any event, upon construction of the parking spaces <br />by the Owner and inspection and approval thereof by the City. <br />Amendment or Dissolution. No amendment or dissolution of this Covenant shall be <br />effective without the written consent of the City. <br />Enforcement. In the event the Owner, its successors or assigns, fails to construct 138 <br />additional parking spaces within one year after notice by the City described herein, the City may <br />proceed to enforce this covenant by appropriate legal or equitable Court proceedings and the <br />Owner, its successors or assigns agrees to pay all costs of such enforcement, including reasonable <br />attorney's fees, costs and expenses of any kind. <br />CLL129491 <br />NE136-6 2