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11 <br /> and Owner has a eed to erform the renovation work to the buildin as described in E�ibits <br /> � P g <br /> A" hereto. <br /> NOW, TI�REFORE, in consideration of the sums of money to be paid by City for <br /> restoration of the exterior facade of the building on the property, the beautification and <br /> preservation of the property and the covenants made by Owner herein, the parties agree: <br /> 1. City shall, at its expense, using funds derived only from the Community <br /> Development Block Grant program, pay for the exterior renovation work to the building on the <br /> property, at the times and in the manner described in "Exhibit A", attached hereto and made a part <br /> hereof. The City's liability hereunder for all such renovation work, including all professional fees, <br /> shall not exceed Fifty Thousand Dollars($50,000). <br /> 2. Owner shall perform the renovation work to the building described in "E�ibit A" <br /> 3. On the date of completion of the exterior facade renovation work described in <br /> paragraph 1 above and for twenty(20)years thereafter, Owner shall not make any alterations, <br /> repairs, improvements or additions to, nor shall he remove any portion of, the e�cterior facade of <br /> the building on the property, including signs, lighting and other implements attached thereto, <br /> which would alter the visual appearance of the exterior facade of the building on the property. <br /> 4. Owner will retain the exterior facade of the building on the property for twenty <br /> (20)year period referred to in paragraph 3 above, in the design and character achieved after <br /> completion of the work described in paragraph 1 above, maintaining the same at his expense in a <br /> good state of repair, subject to the terms of paragraph 3 above. <br /> 5. The term "exterior facade" means all outside architectural and construction <br /> features visible from any point on the street, including, but not limited to, structural materials, <br /> facing materials, signs, windows, doors, trims, sills, steps, railings, cornices, molding, paint colors <br /> and other decorative features. <br /> 6. Owner shall obtain at his/her expense, and shall provide proof to the City of, "all <br /> risks" type property insurance coverage on said building, naming the City as an additional insured <br /> on said policy. <br />