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I <br />kj <br />NOW THEREFORE, in consideration of the mutual covenants hereinafter contained, <br />the parties hereto do stipulate and agree as follows: <br />1. LOCALIMPROVEMENTS <br />1.1 Plans and Specifications . Upon the execution of this Agreement, Medina will <br />proceed with the preparation of plans and specifications for construction of the Local <br />Improvements including all necessary design and engineering work. The plans shall include the <br />roadways and all utility lines that will be constructed within the rights-of-way in Medina and <br />Orono pursuant to this Agreement for the benefit of the Development and other properties in <br />Orono. Upon completion, a copy of such plans and specifications will be provided to Orono. <br />1.2 Road Rjght-of-Wav Plat. Upon execution of this Agreement, Orono will <br />promptly proceed with filing of a road right-of-way plat over the Orono Property for the <br />PMrposes contemplated by this Agreement. Upon completion of such right-of-way platting <br />process, Orono will provide a filed copy of the plat to Medina. Medina may award a contract for <br />construction of the Local Improvements after receipt of a filed copy of the road right-of-way <br />plat. <br />1.3 Construction. Wanrantv and Insurance. Any contract for construction of the Local <br />Improvements over the Orono Property must contain a standard warranty of work that runs to <br />Orono, and must also contain insurance coverages running in favor of Orono in the amount <br />normally required by Orono on similar projects. Medina will coordinate with Orono and the <br />owners of the Orono Property to keep them informed and updated on construction activities. <br />1.4 Project Costs and Permits. Except with regard to the Orono right-of-way plat, <br />Medina shall be responsible for 100% of the cost of constructing the Local Improvements <br />including the cost of all permits from applicable state agencies. Orono shall cooperate, as <br />necessary, in any applications. <br />1.5 Inspections. Medina will be responsible for the construction management of the <br />Local Improvements, including necessary inspections. Medina shall provide Orono with a <br />construction timetable at the beginning of the project and any revisions to the schedule. Orono <br />may inspect the project at any time. <br />1.6 Acceptance Upon Completion . Upon completion of the Local Improvements in <br />accordance with the plans and specifications, Medina shall deliver to Orono a complete set of <br />final lecord plans. Orono shall accept that portion of Spruce Way lying on the Orono Property. <br />Such acceptance shall constitute a full release and satisfaction of Medina ’s obligations under this <br />Agreement to construct the Local Improvements on the Orono Property but Medina shall retain <br />ownership of the Local Improvements located on the Orono Property regardless of their <br />extension into Orono. <br />1.7 Maintenance of Local Improvements . Medina and Orono have historically co ­ <br />operated with one another on an informal basis regarding maintenance of public improvements <br />RJV-259469V4