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The Board shall pay $300,000.00 to the City on or before March 18, 1994, for the
purpose of recreational development of lands to the West and South of Hazel
Trembath School including the adjacent City park site 5, as shown outlined in black
on the plan attached as Schedule "B" to this Agreement.

The Board shall pay $250,000.00 to the City on or before March 18, 1994, to be
used in the City’s discretion for the City’s development of recreational facilities at
Hazel Trembath Park Site No. 5 or the Riverwood Facilities described in Section 7.

Riverwood Facilities

7.

The City and the School District shall share equally in the cost of a consultant to be
retained by the City to develop a concept plan for the development and siting of
school and adjacent City park (the "Riverwood Facilities"), in the location shown as
Site 1 on the plan attached as Schedule "C" to this Agreement.. The consultant may
prepare the concept and siting plan for the Riverwood Facilities without regard to

lot lines.

Prior to engaging the consultant, the City shall consult with the Board on the
proposed terms of reference for the study.

Within 14 days of execution of the consulting contract by the City, the Board shall
pay to the City one-half of the amount payable by the City under the consulting
contract.

The City shall develop an oval running track and sport field in the Riverwood
Facilities to a standard suitable for competitive games. The track and the field shall
be completed on or before the opening date of the secondary school in the
development. The City shall consult with the Board on design of the Riverwood
Facilities to ensure that the final design and development of the Riverwood
Facilities meet the reasonable requirements of the Board. |

The Board shall provide for the pre-loading and filling of the track and field site
subject to the City’s consultant first approving both the quantity and quality of the
pre-load and fill required.

The Board shall pay the City $850,000.00 on for before March 18, 1994 towards the
cost of developing the track and the field. Any interest accrued on the money paid
to the City for the track and the field shall be applied toward the cost of the track

and field development.

In the event the track and the field are constructed for an amount less than the
payment under Section {2 and any accrued interest, the balance of the payment and
interest shall be applied by the City towards improvement of the other recreational
facilities referred to in this Agreement.

The parties agree to pursue the development of additional outdoor
athletic/recreational facilities on the Riverwood site.