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WHEREAS, in connection with its proposed redevelopment of <br />the Property, London desires to secure certain rights for parking <br />of vehicles on the City parking lots, said rights being more <br />particularly set forth in the Parking Easement and License <br />Agreement I and Parking Easement and License Agreement II, both <br />dated ~F~ ~/~V~, by and between the London and the <br />City, said Agreements being attached hereto as Exhibits A and B <br />(collectively, the "Parking Easement and License Agreements"); <br />and <br /> <br /> WHEREAS, the City is willing to grant such rights on the <br />terms and conditions set forth in the Parking Easement and <br />License Agreements. <br /> <br /> NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF <br />UNIVERSITY CITY as follows: <br /> <br /> Section 1. The Parking Easement and License Agreements are <br />found to be necessary for the rehabilitation of the Property and <br />will further the preservation of the health, safety, morals and <br />general welfare of the people of the City of University City. <br /> <br /> Section 2. The City Manager is hereby authorized and <br />directed to execute, on behalf of the City of University City, <br />the Parking and License Agreements provided, however, that at no <br />time shall both said Agreements be in effect simultaneously, and <br />the term of Parking Easement and License Agreement I shall expire <br />upon the recordation of Parking Easement and License Agreement II <br />with the Recorder of Deeds' Office for St. Louis County, in <br />accordance with the provisions of said Agreements. <br /> <br />STL'159542 <br /> - 2 - <br /> <br /> <br />