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Driveway Agreement and CovenantsREBECCA SEEMAN "`"'":.J�KGISTER OF DEEDS SALINE COUNTY KANSAS °. • ,,; Book: 1252 Page: 972-979 Receipt a: 61359 Pages Recorded: 3 Recording Fee: 616.00 e Date Recorded: 9/6/2012 3:17:38 PM DRIVEWAY AGREEMENT AND COVENANTS THIS AGREEMENT AND COVENANTS are made and entered into the N day of July, 2012 by and among: PREMIER PROPERTIES, LLC, a Kansas limited liability company, ("Premier"); AMERICAN AGCREDIT, ACA, an Agricultural Credit Association ("American AgCredit"); and CITY OF SALINA, KANSAS, a Kansas municipal corporation ("City") relating to the following described real estate located in Saline County, Kansas: Lot One (1), Block One (1), Premier Addition to the City of Salina, Saline County, Kansas (the "Real Estate") Recitals A. On July 23, 2012, in response to the petition of Premier, the Governing Body of the City passed after second reading Ordinance No. 12-10646 providing for the vacation of thirty-six (36) feet of the restricted access beginning at a point two hundred forty-two (242) feet west of the northeast comer of Lot One (1), Block One (1) in the Premier Addition to the City of Salina, Saline County, Kansas, (the "Eastern Access") subject to two conditions precedent to the ordinance becoming effective by publication. B. Both conditions precedent were prompted by the proposed development of a sub- tract of the Real Estate adjoining the Eastern Access for occupancy and use by American AgCredit (the "American AgCredit Site") and representations made at the July 2, 2012 public hearing on Premier's petition (the "Public Hearing") by representatives of Premier and American AgCredit that because their proposed use has a unique truck and trailer oriented clientele, a separate driveway entrance west of Virginia Drive at the location of the Eastern Access for ingress and egress between West Magnolia Road and the American AgCredit Site (the "Driveway Entrance") is needed for the development of an office building for occupancy and use by American AgCredit in order to accommodate truck and trailer access into the American AgCredit Site and to allow for on-site traffic flow and circulation of vehicles with trailers due to the unique nature of their clientele (the "Described Use"). This agreement is entered into in satisfaction of the second of those conditions precedent set forth in Ordinance No. 12-10646, Sec. 4.(B). THEREFORE, the parties agree and covenant as follows: 1. Removal or Modification of Driveway Entrance. Premier and American AgCredit acknowledge that the vacation of the restricted access for the Eastern Access by the "Ct�e�l ZDL� Book: 1252 Page: 973 Governing Body of the City and the resulting opportunity to construct the Driveway Entrance was in reliance upon the representations by representatives of Premier and American AgCredit regarding the Described Use of the American AgCredit Site. Premier and American AgCredit, for themselves and on behalf of their successors and assigns, agree that in the event of termination of the Described Use by American AgCredit, or its successors or assigns, the Driveway Entrance shall be subject to removal or modification at the sole discretion of the governing body of the City. 2. Removal Costs. In the event of termination of the Described Use and a resulting determination by the governing body of the City to remove or modify the Driveway Entrance, any, cost of design and construction of the physical modifications within the West Magnolia Road right-of-way necessary to remove or modify the Driveway Entrance shall be paid by the City. The cost of any work on the American AgCredit Site completed by the owner of the Americian AgCredit Site as a result of the removal or modification of the Driveway Entrance shall be the responsibility of and shall be paid by the owner of the American AgCredit Site. 3. Waiver of Claim for Compensation. In the event of termination of the Described Use and a resulting determination by the governing body to remove or modify the Driveway Entrance, Premier and American AgCredit, for themselves and their successors and assigns, waive any claim or cause of action seeking to be compensated for economic loss resulting from the removal or modification of the Driveway Entrance. 4. Binding Effect. These agreements and covenants shall be binding upon the parties, their successors and assigns, and any parties claiming an ownership or possessory interest in the American AgCredit Site; shall be recorded and indexed to the Real Estate in the records of the Saline County Register of Deeds; and SHALL BE BINDING UPON AND SHALL RUN WITH THE REAL ESTATE unless and until modified or released by the mutual written and similarly recorded agreement of all of the parties. EXECUTED by the duly authorized officers of the parties hereto as of the date first written above. PREMIER PROPERTIES, LLC y:�il �! Darrell M. Hills, Member AMERICAN AGCREDIT, ACA By: Rog Bastow lef Administrative Officer Book: X252 Ngee 974 CITY OF SALINA, KANSAS By: Orman M. Jeuci s, Mayor ATTEST: By: I `tom Lieu Ann Elsey, CMC, City Perk ACKNOWLEDGEMENTS STATE OF KANSAS, SALINE COUNTY, ss: This instrument was acknowledged before me on July( 2012, by Darrell M. Hills, as a Member of Premier Properties, LLC. RMyJEANNE M. WAGNER 0 Notary Pudic - Stele m Kansas N- y Appt. Expires-7-c?/-�O / STATE OF KANSAS, SEDGWICK COUNTY, ss: This instrument was acknowledged before me on July)$, 2012, by Roger Bastow as Chief Administrative Officer of American AgCredit, ACA. ANNE. NOTAgypUBUO S7A7E9F �! nM App;. Win. 7 Notary Public STATE OF KANSAS, SALINE COUNTY, ss: This instrument was acknowledged before me on July 23, 2012, by Norman M. Jennings as Mayor and Lieu Ann Elsey, CMC, as City Clerk of the City of Salina, Kansas. DAN STACK Notary Public - State of i U