2014/05/28 Council Agenda Packet

12 File No. 201201310149, is a stormwater detention pond owned by the Port on Port property (the "Stormwater Pond"). 4.2.2 Easement Transfer of Stormwater Pond. By the above recordable utility easement, as specified in Section 4.1, the City shall be granted an easement for the operation and maintenance of the Stormwater Pond, "AS IS" without any warranties, express or implied, and without recourse, so that the City will take over, subject to Section 4.6 below, the responsibilities of maintenance and control of the Stormwater Pond; such responsibilities shall include, but not be limited to, the landscaping within the inside of the currently -existing fence surrounding the Stormwater Pond. Such responsibilities do not include any landscaping outside of the currently -existing fence. 4.2.3 Stormwater Pond Pre -Transfer Maintenance. Prior to the execution and recording of the utility easement referred to in Section 4.1 above, the Port shall complete maintenance of the Stormwater Pond pursuant to the terms and provisions of that certain agreed -upon plan attached hereto as Exhibit "9" and incorporated herein by this reference. The City has no obligations regarding the Stormwater Pond until completion of such maintenance by the Port and recording of the Stormwater Drainage Easement. 4.3 Infrastructure Transfer. 4.3.1 Definition of Transferred Stormwater Infrastructure. For the purposes of this Agreement, the term "Transferred Stormwater Tnfrasstructure" refers to all stormwater-related infrastructure marked as Transferred Utilities on the attached Exhibit "10." 4.3.2 Date of Transfer. As of the date of the recording of the Stormwater Drainage Easement, all of the Port's right, title, and interest in the Transferred Stormwater Tnfrastructure are transferred and conveyed to the City. 4.3.3 Transferred Stormwater Infrastructure Free and CIear. The Port warrants that the Transferred Stormwater Infrastructure as of the recording date of the Stormwater Drainage Easement are free and clear of all liens and all other monetary encumbrances. The Port warrants the Transferred Stormwater Infrastructure will not become subject to any liens or other monetary encumbrance arising from the construction and installation of the Transferred Stormwater Infrastructure. 4.3.4 Transfer of Warranties. As of date of recording of the Stormwater Drainage Easement, the Port assigns to the City all warranties by contractors or suppliers or others related to the construction and 'installation of the Transferred Stormwater Infrastructure. If a warrantor later asserts that its warranty cannot be assigned to the City, then the Port will, at the request and cost of the City and in coordination with the City, take all reasonable steps to enforce the warranty on behalf of the City.