Common use of Consideration and Terms Clause in Contracts

Consideration and Terms. In exchange for ▇▇▇▇▇’▇ transfer to City of the fee simple interest in the approximately 0.6 acres of real property described on Exhibit D by the deed the form of which is attached as Exhibit E (the “▇▇▇▇▇ Deed”), and in exchange for District’s transfer to ▇▇▇▇▇ of the 0.86 acres of real property described on Exhibit C by the deed the form of which is attached as Exhibit F (the “District Deed”), each such exhibit expressly incorporated as though fully set forth at length in this Agreement, the Parties agree to the following terms: a) Construction of the new/realigned Farm Road 107 may commence upon recordation of the District Deed, or, alternatively, upon recordation of the of the ▇▇▇▇▇ Deed. b) The Parties agree that the current access to U.S. Highway 60 from the ▇▇▇▇▇ Property I will remain intact and unencumbered until such time as the alternate access points outlined in this Agreement are constructed. Further, access to the improvements currently located at the ▇▇▇▇▇ Property I, including the building and parking spaces/areas, will remain intact and unencumbered until such time as the alternate access points are provided. Until that time, access to the building located at the ▇▇▇▇▇ Property I will be unimpeded, as will all parking spaces, including those existing parking areas to the south and east of the building. c) To the extent fencing on the Property must be removed or altered in connection with construction of the new/realigned Farm Road ▇▇▇, ▇▇▇▇▇, at the cost and expense of City, shall be entitled to replacement/repair of such fencing in an agreeable configuration, for the purpose of securing the business that currently operates from the building on the ▇▇▇▇▇ Property I. d) The Parties recognize that ▇▇▇▇▇ shall have the right to immediate use of the property deeded to ▇▇▇▇▇ by District, upon completion of such transfer.

Consideration and Terms. In exchange for ▇▇▇▇▇’▇ transfer Owner’s grant to City of full right-of- way access to the fee simple interest in the approximately 0.6 acres of real property described shown on Exhibit D by the deed the form of which is A, attached as Exhibit E (the “▇▇▇▇▇ Deed”), hereto and in exchange for District’s transfer to ▇▇▇▇▇ of the 0.86 acres of real property described on Exhibit C by the deed the form of which is attached as Exhibit F (the “District Deed”), each such exhibit expressly incorporated as though fully set forth at length in this Agreementherein, the Parties Owner and City agree to the following terms: a) Construction of the new/realigned Farm Road 107 may will commence upon recordation completion of School’s transfer to Owner of fee simple interest in the District Deed0.86 acres of real property identified on Exhibit A, or, alternatively, upon recordation Owner’s transfer of the of the ▇▇▇▇▇ Deeda temporary construction easement or easements allowing for such construction. b) The Parties agree that the current access to U.S. Highway 60 from the ▇▇▇▇▇ Property I will remain intact and unencumbered until such time as the alternate access points outlined in this Agreement are constructed. Further, Owner’s access to the improvements currently located at the ▇▇▇▇▇ Property I▇.▇. ▇▇▇ ▇▇, including the building and parking spaces/areas, except those to the north and west directly impacted by the construction of the new/realigned ▇▇▇▇ ▇▇▇▇ ▇▇▇, will remain intact and unencumbered until such time as the alternate access points are provided. Until that time, access to Owner shall have continued, unimpeded use of the building located at the ▇▇▇▇▇ Property I will be unimpeded▇.▇. ▇▇▇ ▇▇, as will and all unaffected parking spaces, including those existing parking areas to the south and east of that will not be affected by the buildingconstruction. c) To the extent fencing on the Property must be removed or altered in connection with construction of the new/realigned Farm Road ▇▇▇, new/▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇, at the cost and expense of City, Owner shall be entitled to replacement/repair of such fencing in an agreeable configuration, for the purpose of securing the business that currently operates from the building on the ▇▇▇▇▇ Property I.Property. d) The Parties recognize City recognizes that ▇▇▇▇▇ Owner shall have the right to immediate use of the property deeded to ▇▇▇▇▇ Owner by the School District, upon completion of such transfer. e) Access points for the Property: i. Owner shall have full ingress to and egress from the Property along the newly constructed/realigned Farm Road 107, at 300 feet from U.S. Highway 60. Owner recognizes and acknowledges that the Missouri Department of Transportation (“MODOT”) intends to construct a fully signalized intersection at U.S. Highway 60 and the newly constructed/realigned Farm Road 107 during the year 2027, at which time Owner’s access may become inherently or in fact restricted to right in, right out access, which shall not in any way constitute a breach of this Agreement. ii. Owner shall have secondary full access in an agreeable location to the north of the Property to service the Property from the portion of Farm Road 107 that is being constructed. iii. The Parties acknowledge that both access points referenced above will be constructed to the new right-of-way line from the roadway, and further that if additional grading is needed beyond those right-of-way lines to service the Property, such work shall be provided be in conjunction with the project. iv. Access to the property located at or near ▇▇▇▇ ▇.▇. ▇▇▇▇▇▇▇ ▇▇ shall be provided to the nearest lane of U.S. Highway 60 as a shared access with ▇▇▇▇ ▇.▇. ▇▇▇▇▇▇▇ ▇▇ in the vicinity of the existing access located at the western property line. Owner acknowledges that a traffic study may be required at or prior to the time of development of ▇▇▇▇ ▇.▇. ▇▇▇▇▇▇▇ ▇▇, depending upon the use(s) and development plan. v. An additional access to the Property shall be provided along a future backage road extension of Farm Road 107, in conjunction with development of ▇▇▇▇ ▇.▇. ▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇.▇. ▇▇▇▇▇▇▇ ▇▇, or the development of the City-owned parcel located to the north, provided that funds for such access are available to City and approved by the City Council. The access referenced in this sub-paragraph is expressly contingent upon availability of funds and approval by City Council of the specified uses for those funds. f) The City agrees to install (1) a waterline extension along the northern Property line to the Northwest corner of the Property with a flush hydrant for future development, and (2) a flush hydrant on the existing main located along the eastern Property line. The Parties acknowledge and agree that this work is considered ancillary to the road construction referenced herein and the School District’s installation of waterline to service the new school building to the North of the Property.