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<br />DRAFT 11/18/2002 <br /> <br />providing for at least 30 days' writtlen notice to the City (as named insureds) of cancellation or <br />change in the policy. <br /> <br />9. Grantee acknowledges and agrees that the City (i) assumes no responsibilities or <br />obligations with regard to any Underground Facilities installed within the Easement Area <br />pursuant to this Agreement; and (ii) as between Grantee and Grantor, Grantee shall bear the full <br />responsibility for the maintenance and operation of the Underground Facilities installed within <br />the Easement .Area pursuant to this Agreement. Grantee at its sole expense shall maintain the <br />Underground Facilities in a good state of repair. <br /> <br />10. The property rights granted herein shall be transferable by Grantee only with prior <br />written consent of Grantor. <br /> <br />11. The easement granted herein shall be subject to all restnctIOns, easements. <br />ownerships and encumbrances, if any, of record or apparent on the ground. Grantee shall be <br />solely responsible for coordinating its activities with the holders of any other easements affecting <br />the Easement Area. <br /> <br />12. The Grantor shall be c~ntitled to pursue all legal and equitable remedies. including <br />but not limited to an action for specific performance, in the event of a breach of this Agreement <br />by Grantee. <br /> <br />13. This Agreement and the rights and obligations herein shall inure to the benefit of <br />and be binding upon the parties and their respective representatives, successors and assigns. All of <br />Grantee's obligation hereunder shan apply with respect to initial installation and all future <br />operation, maintenance, repair and replacement of the Underground Facilities. <br /> <br />14. Pursuant to Colorado Revised Statute Section 15-11-1 I02(l)(a) and (b), if any <br />right in the City hereunder does not vest within 90 years after the date of execution of this <br />Agreement by both parties, said interest shall automatically be severed from the remainder of the <br />interests conveyed herein and shall automatically terminate. <br /> <br />IN WITNESS WHEREOF', the Grantor and Grantee have executed this Easement <br />Agreement on the date first above written. <br /> <br />GRANTOR: CITY OF LOUISIVLLE <br /> <br />By: <br /> <br />Tom Davidson, Mayor <br /> <br />4 <br />