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approving and effecting the disannexation of the Property, which disannexation is <br />anticipated to occur on September 9, 2024. <br />Payiment 2: ONE HUNDRED SEVENTY-FIVE THOUSAND AND NO/100 DOLLARS <br />($175,000.00) to be paid within thirty (30) days of Nexus's issuance of its Full Notice <br />to Proceed to commence construction of the Project, which issuance is anticipated to <br />occur on or before December 31, 2024. <br />Payment 3: ONE HUNDRED TWENTY-FIVE THOUSAND AND NO/100 DOLLARS <br />($125,000.00) to be paid within thirty (30) days of the date the Project is placed in <br />service or operation for other than testing purposes (the "Commercial Operations <br />Date"), which Commercial Operations Date is anticipated to occur on or before <br />December 31, 2025. <br />3.2 In connection with Paragraph 3.1, Nexus will provide the City with copies of <br />the Full Notice to Proceed and the Commencement Operations Date within three (3) business <br />days of the issuance or occurrence of same according to the notice provisions contained <br />herein in Section IX. <br />IV. <br />Consideration: Improvements <br />4.1 As further consideration of the City's disannexation of the Property, Nexus <br />shall undertake and complete the Trail Corridor Improvements to wit: <br />a. Provide land clearing for the length of the Trail Corridor as shown on Exhibit <br />A hereto. <br />b. Provide site work on the Trail Corridor which shall include but not be limited <br />to removing all brush and debris located on the Trail Corridor that following <br />the land clearing. <br />4.2 All Trail Corridor Improvements shall be completed by the Commercial <br />Operations date as defined herein. Nexus furthermore agrees and covenants that it will <br />diligently and faithfully, in a good and workmanlike manner, pursue the completion of the <br />Trail Corridor Improvements in accordance with all applicable state and local laws, codes, <br />and regulations, or Nexus will procure a valid waiver thereof. <br />4.3 In connection with this section, Nexus shall inform the City in writing that the <br />Trail Corridor Improvements have been completed in accordance with the notice provisions <br />contained herein in Section IX. <br />4.4 Subsequent to the notice required in the preceding section, Nexus shall allow <br />the City access to the Trail Corridor for purposes of inspection and confirmation that the <br />Trail Corridor Improvements have been completed. To initiate said inspection, the City will <br />provide written notice to Nexus, and Nexus shall make arrangements with the City for <br />inspection of the Trial Corridor Improvements within fifteen (15) business days of the City's <br />notice of inspection. In this connection, given the nature of the improvements involved in the <br />