R95-111 ACCEPTING THE BID AND AUTHORIZING CONTRACT

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, � y • BDuK �.� ��PAGE S�CJ NOW, THEREFORE, in consideration of the sums of money to be paid by City for restoration of the exterior facade of the building on the property, the beautification and preservation of the property and the covenants made by Owner herein,the parties agree: 1. City shall, at its expense,using funds derived only from the Community Development Block Grant Program,pay for the exterior renovation work to the building on the property, at the times and in the manner described in "Exhibit A", attached hereto and made a part hereof. The City's liability hereunder for all such renovation work, including all professional fees, shall not exceed Twenty Five Thousand Nine Hundred Ninety One Dollars& 49/100 Cents($2�,991.49). 2. Owner shall perform the renovation work to the building described in "Exhibit A". 3. On the date of completion of the exterior facade renovation work described in paragraph 1 above and for twenty (20)years thereafter, Owner shall not make any alterations, repairs, improvements or additions to, nor shall he remove any portion of,the exterior facade of the building on the property, including signs, lighting and other implements attached thereto, which would alter the visual appearance of the exterior facade of the building on the property. 4. Owner will retain the exterior facade of the building on the property for twenty (20)year period referred to in paragraph 3 above, in the design and character achieved after completion of the work described in paragraph 1 above,maintaining the same at lus expense in a good state of repair, subject to the terms of paragraph 3 above. 5. The term "exterior facade" means all outside architectural and construction features visible from any point on the street, including,but not limited to, structural materials, facing materials, signs,windows, doors,trims, sills, steps,railings, cornices,molding,paint colors and other decorative features. 6. Owner shall obtain at his/her expense, and shall provide proof to the City of, "all risks'° type property insurance coverage on said building, naming the City as an additional insured on said policy. 7. The covenants and conditions of this agreement are covenants running with the land an insure to the benefit of City, its successors and assigns, and are binding upon the he�rs, personal representatives, successors, grantees and assigns of Owner.