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<br />WHEREAS, the City desires to terminate the Master Development Agreement and the <br />Parkland and Trail Plan Agreement pursuant to Section 15.3(c) and 15.3(d) based on Ramsey <br />Town Center, LLC's defaults. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA: <br /> <br />1. That, based on the defaults described in the City's August 11, 2006 Notice to Ramsey <br />Town Center, LLC and Community National Bank, City Staff is authorized to terminate <br />the Master Development Agreement and the Parkland and Trail Plan Agreement in <br />accordance with Section 15.3 of the Master Development Agreement. <br /> <br />2. That the Mayor and City Administrator are authorized to sign the attached Termination <br />of Master Development Agreement and the Parkland and Trail Plan Agreement at any <br />time after the date of this Resolution. The Termination of Master Development <br />Agreement and the Parkland and Trail Plan Agreement is not effective and the Master <br />Development Agreement and the Parkland and Trail Plan Agreement are not terminated <br />unless and until the Mayor and City Administrator execute the Termination of Master <br />Development Agreement. <br /> <br />3. That the Parking Improvement Agreement and the Secondary Development <br />Agreements, Allocation Agreements and Escrow Agreements shall not be terminated or <br />otherwise affected by the termination of the Master Development Agreement and the <br />Parkland and Trail Plan Agreement. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Jeffrey and upon vote being taken thereon, the following voted in favor thereof: <br /> <br />Mayor Ramsey <br />Councilmember Elvig <br />Councilmember Jeffrey <br />Councilmember Dehen <br />Councilmember Look <br />Councilmember McGlone <br />Councilmember Wise <br /> <br />and the following voted against the same. <br /> <br />None <br /> <br />and the following were absent: <br /> <br />None <br /> <br />and the following abstained <br /> <br />None <br /> <br />Resolution #09-06-135 <br />Page 3 of 4 <br />