Kids that are standing or sitting beside a street.
The children are waiting for a parade to pass.
There are many reasons why kids may be standing or sitting beside a street.  It cannot be inferred that they are waiting for a parade to pass.
exists x1.(a_topic(x1) & (exists e1 x2.(Actor(e1,x2) & v_stand(e1) & (x1 = x2)) | exists e2 x3 x4.(beside(e2,x4) & n_street(x4) & Actor(e2,x3) & v_sit(e2) & (x1 = x3))) & n_kid(x1))
exists e1 p1 x1 x2.(n_child(x1) & Topic(e1,p1) & exists e2.(Actor(e2,x1) & v_pass(e2)) & for(e1,x2) & n_parade(x2) & Actor(e1,x1) & v_wait(e1))