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2. Construction of Public Access Improvements/Use Restriction <br /> A. Construction and Deadline. Grantor agrees and covenants to <br /> construct the Public Access Improvements in accordance with this Covenant no later than <br /> twenty (24) months after issuance of the First Property Development Permit. Unless <br /> otherwise approved by the City(which approval may be withheld at the City's sole <br /> discretion and which approval must reference this Section 2.A in order to be effective), the <br /> Public Access Improvements shall be completely within the Easement Area. Grantor shall <br /> construct the Public Access Improvements so that the Public Access Improvements <br /> provide for connection to public access improvements on neighboring lots, to provide for <br /> continuity and avoid dead-ends. <br /> In addition to the Public Access Improvements, Grantor shall construct the buffer <br /> and landscaping surrounding the Public Access Improvements in accordance with <br /> applicable shoreline permit requirements. In general, the buffer must be a minimum 50 <br /> foot wide strip along the entire shoreline, and must contain trees, shrubs and other <br /> plantings by Grantor as specified by the City. A schematic sketch of the buffer and the <br /> trail portion of the Public Access Improvements is attached as Exhibit B. Additional <br /> information regarding the required buffer is available from the City of Everett Planning <br /> Department <br /> B. Performance Bond. Grantor acknowledges and agrees that the City <br /> may, unless the Public Access Improvements are already completed, refuse to issue any <br /> Property Development Permit unless Grantor has delivered to the City a Performance <br /> Bond for the completion of the Public Access Improvements. The Performance Bond must <br /> remain in effect until the completion of the Public Access Improvements. If the <br /> Performance Bond will expire prior to the completion of the Public Access Improvements, <br /> then at least ninety (90) days prior to the date of such expiration Grantor shall substitute <br /> the Performance Bond with another Performance Bond meeting the requirements of this <br /> Covenant and deliver evidence thereof to the City. Failure to substitute the Performance <br /> Bond and deliver such evidence by such date shall, among other defaults, constitute a <br /> default for which City may immediately enforce the entire existing Performance Bond. If <br /> the Public Access Improvements are not completed in accordance with this Covenant <br /> within twenty-four(24) months after the issuance of the First Property Development <br /> Permit, then the City may enforce the Performance Bond for the completion of the Public <br /> Access Improvements. <br /> C. Permit Condition. In addition to the requirement for Performance <br /> Bond, the City may include completion and dedication of the Public Access Improvements <br /> in accordance with this Covenant as a condition to any Property Development Permit. <br /> D. Use Restriction. The Easement Area may not be used for any <br /> purpose inconsistent with Public Access Shoreline Improvements. <br /> Public Access Covenant and Agreement Signature Page <br />