RES 141 Draft 01 2012-2014 - Laserfiche WebLink

Home

location for the Bypass Highway on Smith Trust's Land and as shown on Exhibit"B" and on certain other matters relating thereto. 4. Smith Trust and the County desire to set forth their agreement with respect to the Bypass Highway in this Agreement. AGREEMENT In consideration of the Recitals set forth hereinabove, which by this reference are incorporated herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Smith Trust and the County agree as follows: 1. Use of Defined Terms: For purposes of construing and interpreting this Agreement,words or terms defined in this Agreement when written with initial capital letters shall have the meanings given to them in this Agreement. Such terms may be used in the singular,plural,possessive or in varying tenses, but such variation shall not affect their meaning so long as such words or terms are written with an initial capital letter. When such terms are used in this Agreement but are written without an initial capital letter, such terms shall have the meaning they have in common usage. The capitalized terms used in this Agreement are defined in the following sections hereof. Defined Terms Section Agreement Preamble Bypass Highway Recital 2 County Preamble Existing Driveway 5.2 Fax 6.1 New Driveway 5.1 Smith Trust Recital 1 Smith Trust's Land Recital 1 Right-of-Way 2.1 Subdivision 3 Trustee Preamble Limited Warranty Deed (in Lieu of Condemnation) 4.1 2. Location of Bypass Highway on Smith Trust's Land: 2.1 Smith Trust's Agreement to Provide Right-of-Way: Within sixty (60) days from the date of this Agreement and subject to the terms and conditions of this Agreement, a right-of-way for the Bypass Highway on Smith Trust's Land ("Right-of-Way")the County shall pay the Smith Trust the amount of$ 145,787 as fair and just compensation for 2