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A. The establishment of logical, reasonable and natural <br />boundaries between the Village and the Town; <br />B. The orderly development of the Village, the Town, and <br />the Town Utility District; <br />C. Reduction in boundary disputes between the parties; and <br />D. Defining, expediting and clarifying the mutual <br />provisions for municipal services such as water and <br />sanitary sewer. <br />II. DESCRIPTION OF THE THREE BOUNDARY ZONES <br />A. The parties have agreed to the establishment of three <br />boundary zones. The legaldescriptions of these <br />boundary zones are as set forth in Exhibits 1, 2 and 3 <br />attached hereto and made a part hereof. The boundary <br />zones are: The Blue Zone describing The Town Growth <br />Zone, The Green Zone describing The Village Growth <br />Zone, and The Yellow Zone describing The Joint Town and <br />Village Industrial/Commercial Developmental Zone. <br />B. The three (3) boundary zones are as follows: <br />1. THE BLUE ZONE DESCRIBING THE TOWN GROWTH ZONE - <br />The Blue Zone consists of land currently within <br />the Town and various parcels formerly in the Town <br />purportedly annexed to the Village by Village <br />Ordinance No. 88-8. The land annexed by Village <br />Ordinance No. 88-8 and within the Blue Zone shall <br />be detached from and remain in the Town. All the <br />land in the Blue Zone is considered by the parties <br />as necessary for the long range growth of the <br />Town. The legal description of the boundaries of <br />the Blue Zone is set forth in the Exhibit 1 <br />("Blue") attached hereto and made a part hereof. <br />The land in the Blue Zone shall not be annexed to <br />the Village but shall remain in the Town. <br />2. THE GREEN ZONE DESCRIBING THE VILLAGE GROWTH ZONE <br />- The Green Zone consists of primarily undeveloped <br />land, some of which was annexed to the Village by <br />Village Ordinance No. 88-8. The property <br />described within the Green Zone may be annexed <br />from the Town to the Village without objection or <br />challenge by the Town or Town Utility District. <br />The legal description of the boundaries of the <br />Green Zone is set forth in Exhibit 2 ("Green") <br />Date <br />2 of 14 <br />