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provide owner's title insurance on the City Property in accordance with <br />Section 3.3 herein. <br />C. Claw back provisions as to land grant: In lieu of any restrictive covenants <br />of title relating to economic development goals and employment metrics, the <br />Parties have agreed that American will pay PEDC liquidated damages related <br />to its failure to meet construction and oremployment goals subject to the <br />terms set forth herein in Article 3.3. In the event American pays PEDC such <br />liquidated damages, PEDC agrees to deliver 6.42% of any such payment to <br />the City as the portion of liquidated damages attributable to the City <br />Property. In that connection® PEDC agrees to act as the agent fiduciary of the <br />City in determining whether such liquidated damages are due and owing <br />from American and in collecting and distributing same to the City as set forth <br />herein. <br />1. The City and PEDC shall use their best efforts to assist American in <br />securing funding from the TXDOT or other sources in order to (a) <br />build out to the necessary road improvements for ingress and egress <br />on the Loop 286 truck entrance and the Park Avenue employee/office <br />entrance and (b) improve the ninety (90) degree turn on Park Avenue <br />to the west of the Facility. <br />Z American will relocate, at its sole expense, a City -owned water main <br />that lies beneath the planned footprint of the Facility. The City agrees <br />to allow American to utilize American manufactured pipe and valves <br />on said water main to complete the relocation. Once American has <br />relocated the water main, American will grant the City an easement <br />for access to and maintenance of said water main. <br />E Permitting: <br />1. The City will work closely with American to ensure that all locally <br />controlled permitting required for construction and occupancy will be <br />"fast tracked." In that connection, the Parties further understand and <br />agree that American must meet certain legal requirements before the <br />City can issue permits necessary for utilities, land grading, and <br />construction, and that consequently, the City cannot issue such <br />permits until after American has submitted completed applications <br />32300891 00 15 <br />