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Res 86-57 Road Maintenance Agreement with IBM and Maguire/Thomas PartnersP11011 WHEREAS, International Business Machines Corporation ("IBM") and Maguire/Thomas Partners ("MTP") have requested permission from the Town of Westlake ("Westlake") to relocate County Roads 3088 and 3080, otherwise known as Peytonville/Sam School Road and Precinct Line/Roberts Woods Road, and to construct other roads within Westlake on land owned by IBM; and WHEREAS, Westlake has agreed to such road relocations and the construction of other roads on property owned by IBM provided such roadways are constructed pursuant to the town standards and specifications and in locations approved by subdivision plats approved by Westlake; and WHEREAS, IBM, MTP and Westlake desire to reduce their agreements to writing: THEREFORE, IBM, MTP and Westlake do hereby agree as follows: 1. Westlake agrees to permit the relocation and construction of roads by IBM as set forth above provided that such roadways are constructed in accordance with standards promulgated by Westlake and in accordance with site plans and subdivision plats approved by Westlake and to accept for dedications such roadways upon their completion. 2. IBM agrees to maintain such roadways as it relocates and/or constructs on property it then owns until Westlake assesses ad valorem taxes and utilizes such taxes, directly or indirectly, for the construction or maintenance of roads within Westlake, at which time all further maintenance obligations of IBM for roadways within Westlake shall cease and terminate without further action by any party and Westlake shall be fully responsible for the future maintenance of such roads. 3. For the term of ten (10) years or until ad valorem taxes are assessed by the Town of Westlake, whichever occurs sooner, IBM agrees to contribute Ten Thousand Dollars ($10,000.00) annually to Westlake, which sum shall be used exclusively for the purchase of a general liability insurance policy providing such coverage as deemed appropriate by Westlake in Westlake's sole discretion. 4. IBM's obligation to maintain such roadways shall only extend to roadways for which IBM owns both sides of the road and, if IBM owns only one side of the road, IBM's maintenance obligation shall extend only to the centerline of such road® 5. The term "IBM" shall include any partnership or joint venture of which IBM is a partner or joint venturer. AGREED TO AND ACCEPTED this 1 A day of February, 1986, INTERNATIONAL BUSINESS MACHINES CORPORATION By -A Its. .4a Division PASSED AND APPROVED THIS DAY OF 7 1986., vily w 9 Filly w li pm GE Y WH E, TOWN SECRETARY al T N OF WESTLAKE, TEXAS