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1 <br /> commercially reasonable period of time, and use the net proceeds of such sale to compensate the <br /> City for its damages and/or to remedy the failure to perform by CSR AssociatedRinker, as its <br /> sole and exclusive remedy. Any net proceeds from such sale in excess of the City's damages <br /> and/or its cost of remedy shall be paid over to CSR AssociatedRinker. <br /> (b) Transfer Lots in Escrow. Within thirty(30)days following execution of <br /> this Agreement, CSR AssociatedRinker will execute and place in escrow with the Title <br /> Company Statutory Warranty Deeds for Transfer Lots'15 A,15-B1 and-45-C, 45-D and 45-E. If <br /> CSR AssociatedRinker has not conveyed a designated Transfer Lot by the applicable deadline <br /> set forth in Section 1.1 of this Agreement, the Title Company is instructed to release to the City <br /> the Statutory Warranty Deed for the designated Transfer Lot due to be conveyed. <br /> (c) Alternative Performance Bond. In lieu of the Recreation Set Aside <br /> Parcels, and in order to secure the performance by CSR AssociatedRinker of its obligations <br /> under this Agreement,CSR AssociatedRinker may at any time post a performance bond or other <br /> security acceptable to the City in the amount of$4.83.'1 million; provided, that CSR <br /> AssociatedRinker may satisfy all or part of this obligation by making the City an additional <br /> beneficiary, for the obligations to be performed by CSR AssociatedRinker pursuant to this <br /> Agreement, on the performance bond posted by CSR AssociatedRinker for its obligations to <br /> DNR pursuant to Surface Mining Amended Permit No. 70 010161. <br /> (d) Pro-rata Reduction in Security. Upon the conveyance of a Transfer Lot <br /> Lots 15 B, and 15 C, 45 D and 15 E in compliance with the provisions of this Agreement,CSR <br /> AssociatedRinker is entitled to reduce the amount of the property held as Recreation Set-Aside <br /> Parcels or the amount of the performance bond or other security in an amount equal to the <br /> 2004 Revised Development Agreement `: 9:-•••-• •• • -•• =. • .-• -..- • - <br /> 23 <br /> 8/1/2005 . et tt et et tett . et, t - tt.;r . �� 7 <br />