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1. Annexation. The School District agrees to execute and <br />file a petition and any other necessary documents to annex to the <br />City a parcel of land of approximately eighty (80) acres <br />purchased by the School District and located adjacent to and east <br />of S. 88th Street, a legal description of which is attached <br />hereto and incorporated herein as Exhibit A (the "Property"). <br />The City agrees that the annexation petition shall be processed <br />promptly upon receipt of the annexation petition. The School <br />District agrees to not sign any petition for annexation of the <br />Property to any municipality except the City of Louisville and <br />agrees to not sign any petition for an annexation election <br />relating to the Property. <br />2. Subdivision and Zoning. Subject to the City's <br />legislative discretion as described in paragraph 18, the Property <br />is to be subdivided into three (3) parcels in the approximate <br />location described on the map attached hereto and incorporated <br />herein as Exhibit B. One parcel of approximately 74.5 acres in <br />size shall be known as the School Campus Parcel and, subject to <br />the City's legislative discretion as described in paragraph 18, <br />is to be zoned PCZD-C. Since the City does not have an education <br />zoning district, if the City approves PCZD-C zoning for the <br />School Campus Parcel, the City agrees that there shall be no <br />restrictions or limitations on the School District's use of the <br />School Campus Parcel for school purposes within the PCZD-C zoning <br />district. Two parcels totaling approximately 5.5 acres shall be <br />known as the Development Parcels and, subject to the City's <br />legislative discretion as described in paragraph 18, are to be <br />zoned PCZD-C. Attached hereto and incorporated herein by this <br />reference is Exhibit C, Development Standards for the Development <br />Parcels. The parties agree that the Development Parcels shall be <br />developed consistent with Exhibit C. Development of the <br />Development Parcels shall also be subject to the City's normal <br />PUD process. Uses of the Development Parcels shall be as <br />described in Exhibit D attached hereto and incorporated herein by <br />this reference. The development standards for the Development <br />Parcels but not uses of the Development Parcels may be modified <br />by the parties upon request by the School District. <br />3. Water and Sewer Tap Fees. The School District shall <br />pay to the City both water and sewer tap fees based on the 1995 <br />City standard water and sewer tap fee schedule at the time the <br />School District requests services for each building or facility <br />on the School Campus Parcel. Water and sewer tap fees for a <br />Development Parcel shall be paid at the time of issuance of a <br />building permit for the Development Parcel in the amount in <br />effect at the time of issuance of the building permits. The <br />School District may use on the School Campus Parcel, for <br />irrigation only, water acquired from a source other than the <br />City. <br />June 27, 1996 <br />BVSD\GEN\BVSD2.RAE <br />2 <br />