Resolutions-2008-07

28E AGREEMENT BETWEEN THE CLEAR CREEK AMANA COMMUNITY SCHOOL DISTRICT AND THE CITY OF TIFFIN, IOWA FOR CONSTRUCTION AND FUNDING OF STREET AND HIGHWAY IMPROVEMENTS This Agreement dated 4/10/08, 2008 (the "Effective Date") is entered into by and between the City of Tiffin, Iowa ("Tiffin") and the Clear Creek Amana Community School District (the "School District"). BACKGROUND A. The School District is building a high school campus adjacent to US Highway 6 within the Tiffin City limits. B. Tiffin is planning certain improvements to Ireland Avenue and certain improvements to a portion of US Highway 6 located within the Tiffin City limits. C. The School District and Tiffin want to provide a safer access to the high school campus to and from US Highway 6 and to provide for better traffic flow and access around the school campus by making certain improvements to US Highway 6, as more particularly described on the attached Appendix A (the "Highway 6 Project"). D. In the interest of providing a safer environment for the students and parents served by the School District and the residents of Tiffin, the School District will contribute to the total project cost for US Highway 6 Project. E. In exchange for Tiffin managing and contributing to the Highway 6 Project, the School District will transfer certain real property for an anticipated future city development of Ireland Avenue along the School District's eastern property boundary, as more particularly described on the attached Appendix B (the "Ireland Avenue Project"). Tiffin's contribution to the Highway 6 Project serves as the total consideration for the acquisition of the property to be conveyed by the School District as described in Appendix B. F. Tiffin and the School District must enter into an agreement pursuant to (i) Chapter 28E of the Code of Iowa (2007) to outline the responsibilities of each party with respect to the Highway 6 Project as the Ireland Avenue Project and (ii) meet current Iowa Department of Transportation (the "IDOT") permit requirements. NOW, THEREFORE, the parties agree as follows: TERMS 1. Purpose. This Agreement provides terms for the planning, financing, and construction of the Highway 6 Project and the Ireland Avenue Project. This Agreement is made by the parties under the authority of Chapter 28E of the Code of Iowa (2007) and it implements the terms, conditions, and intentions of the parties with respect to the Highway 6 Project and the Ireland Avenue Project. 2. Duration. The term of this Agreement (the "Term") will commence on the Effective Date and remain in effect until the later of (a) completion of the Highway 6 Project, as determined