Laserfiche WebLink
initial phase of developer improvements and subsequent phases of developer <br />improvements if substantially consistent with the preliminary development <br />plans. The City acknowledges that the Town Center may be constructed in <br />phases, and the developer improvements may be constructed on the.site. <br /> <br />c) <br /> <br />Upon compliance by Developer with applicable City ordinances and other <br />requirements, the City shall act upon and consider approval of the plats <br />comprising the Town Center. <br /> <br />d) <br /> <br />Subject to its regulatory provisions, the City will diligently construct the <br />public improvements (other than committed public improvements to be <br />constructed by the Developer) so as not to delay the construction or opening <br />of the initial phase and subsequent phases. <br /> <br />e) <br /> <br />The proposed actions of the City described in this Memorandum are <br />undertaken for the Public purposes of preserving and enhancing the <br />employment and tax base of the City. <br /> <br />The execution and delivery of this Memorandum and the consummation of the <br />transactions herein contemplated will not conflict with or constitute a breach <br />o'r violation under the City's charter or ordinances, or the provisions of any <br />bond, debenture, note, or any other evidence of indebtedness, debenture, loan <br />ageement, lease or other contract to which City is a party or by which it is <br />bound, or violate any law, regulation, or order of the United States Of America <br />or the State of Minnesota or any agency or political subdivision thereof or of <br />any court order or judgment in any proceeding to which City is or was a party <br />or by which it is bdund. <br /> <br />g) <br /> <br />To the best of the City's knowledge, there is no action, suit, proceeding, or <br />investigation at law or in equity, or by or before any United States c. ourt, <br />arbitrator, administrative agency, or other federal, state, or local governmental <br />authohty, pending or threatened against the City, wherein an unfavorable <br />decision, ruling, or finding Would have an adverse effect on the validity of this <br />Memorandum, or a material adverse effect on the transactions contemplated <br />hereby. <br /> <br /> 4) Mutual Agreements and AcknOwledgments of the Developer and the City. The <br />Developer and the City agree and acknowledge: <br /> <br />a) <br /> <br />Sharing of Information. Each will keep the other fully informed of its plans, <br />schedules, and other and further, information necessary and pertinent to the <br />orderly and timely development of the Town Center. <br /> <br />b) <br /> <br />Response to Requests for Information. Each will respond reasonably and <br />promptly to the other's requests for information. <br /> <br />182 03-27-03 <br /> 121070977v4 8207 ! 6 <br /> <br />4 <br /> <br /> <br />