AGENDA PROPERTY MANAGEMENT COMMITTEE MEETING ...

10. The parties hereto agree to negotiate in good faith for the purpose of developingand executing a Lease agreement based upon the terms of the MOU. However,except for said obligation to negotiate, nothing contained herein shall be deemed abinding commitment upon or enforceable promise by either party.11. The CITY will apply for and be responsible for managing State, Federal, andlocal grants for the design and development of the Five Coves site.12. No grant funds will be utilized for mitigation efforts unless allowed for under thespecific grant guidelines.13. The property will not be used by CITY as security for any debt.14. The District agrees that the CITY shall pay the sum of One Dollar ($1) per year asannual rent for the Five Coves site.15. Attached hereto as Exhibit “A” and incorporated by reference herein, is adepiction of the Five Coves site showing the proposed recreational improvementsto be contemplated under the afore mentioned Lease agreement. Said Exhibits,and any related definitions, estimates, figures, or valuations are included herewithto signify the intent of this MOU, and the parties hereto agree and understand thatsaid definitions, estimates, figures, or valuations may vary during the design andconstruction process associated with the project. The Exhibits are subject torevision based upon the Lease agreement for the site.//////IN WITNESS WHEREOF, the City of Anaheim and the Orange County WaterDistrict have entered into this Agreement as of the dates set forth below.CITY OF ANAHEIMBy:____________________ORANGE COUNTY WATER DISTRICTBy: ______________________President