Draft Smyrna Development Agreement 4.30.26
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10 FINAL ACCEPTANCE OF TRAIL CONSTRUCTION AND ASSIGNMENT OF WARRANTY This Final Acceptance of Trail Construction and Assignment of Warranty (“ Acceptance and Assignment”) is made in connection with that certain Agreement for Development for Trail Improvements (the “Agreement”) by and Between The Trust for Public Land, a nonprofit California corporation doing business in the State of Georgia as Trust for Public Land (Inc.), hereafter (“TPL”) and City of Smyrna, Georgia hereafter (the “ City”) and dated _________________. WHEREAS, pursuant to the Agreement, TPL agreed to work cooperatively with the City to develop and construct a portion of the RiverLands Industrial Section trail (the “Trail”) on property in Cobb County which is owned by the City (the “City Property”); and WHEREAS, pursuant to the Agreement, TPL has constructed the Trail at the City Property; and WHEREAS, the Trail is complete and all inspections related to the completion of the Trail were performed and deemed acceptable; and WHEREAS, it is the desire of the parties that the Trail, which was constructed on the City Property, be transferred to the City consistent with the terms of the Agreement free of all liens except those associated with the construction of the Trail, which will remain the responsibility of and be resolved by TPL. NOW THEREFORE, in consideration of the mutual covenants and obligations herein, and Ten and 00/100 Dollars ($10.00), the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. In connection with the City’s acceptance of the Trail, the Trial will be owned and managed by the City. TPL, as purchaser of all installed improvements, hereby assigns all warranties associated with the Trail to the City. 2. Having had the opportunity to inspect the Trail, the City hereby accepts this assignment and agrees to assume responsibility for the maintenance and operation of the Trail and further assumes all liability for the use of the Trail by the public. 3. The City acknowledges and agrees that upon execution of this Acceptance and Assignment, TPL shall have no further responsibility for maintenance, repair, or replacement of the improvements of the Trail. 4. Upon execution by City and delivery to TPL of this Acceptance and Assignment, TPL shall cease to be liable or responsible for any and all claims, demands, liens, liabilities, penalties, fines, fees, judgments, costs, expenses, losses and damages (collectively, “Claims”), and further the City hereby waives, releases, remises, acquits and forever discharges TPL, its directors, officers, employees, agents, successors and assigns from any and all claims, suits, actions, causes of action, demands, rights, damages, costs, expenses, penalties, fines whatsoever, direct or indirect, which the City may have after executing this Acceptance and Assignment on account of or in any way arising out of or in connection with the Trail and any claims or losses resulting in