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Item 2 <br /> <br />Item 3 <br /> <br />Item 4 <br /> <br />Item <br /> <br />Item 6 <br /> <br />Item 7 <br /> <br />Item 8 <br /> <br />Item 9 <br /> <br />IN WITN~S S <br /> <br />The Developer shall reimburse the City $19,000 for materials furnished by the <br />State associated with the temporary signal revisions identified in Item 3 of Traffic <br />Control Signal Agreement 855097R. <br /> <br />The Developer shall contribute $ 52,500 in cash to the City as payment for the <br />City's estimated share of the permanent signals (26.25% of $200,000) anticipated <br />to be installed in' <br /> <br />The Developer construct the segment of Ramsey Boulevard between US 10 and <br />Pdverdale using bituminous berm curb. The Developer will deposit with the City <br />$7,000 as payment for the future installation of concrete curb and gutter along this <br />segment of street. <br /> <br />InvalidiW of Any Section. If any portion, section, subsection, sentence, clause, <br />paragraph or phase of this Agreement is for any reason held to be invalid by a <br />court of competent jurisdiction, such decision shall not effect or void any of the <br />other provisions of this Agreement. <br /> <br />Proof of Authority. When the DEVELOPER IS A CORPORTATtON, THE <br />CITY requires pro6f of authority by the corporation to execute this Agreement. <br />This proof of authority may be satisfied by providing the CITY with .a certified <br />copy of minutes of the corporate Board of Directors granting such authority. <br /> <br />Recording of This Agreement. The DEVELOPER shall record this A~eement <br />in the office of tke Anoka County Recorder and agrees that the terms and <br />provisions of this Agreement shall run with the land and shall bind the <br />DEVELOPER, its successor and assigns. <br /> <br />Violation of This Agreement. If the DEVELOPER fails to perform any of the <br />terms of this Agreement in the manner required by the CITY, the CITY shall be <br />entitled to recover, from the DEVELOPER or the issuer of DEVELOPER'S <br />financial guarantee, the full amount of any and all financial guarantees. Breach of <br />any of the terms of this Development Agreement by the DEfrELOPER shall also <br />be ~ound for denial of Building Permits for buildings in the Plat. <br /> <br />Agreement Binding On Successors and Assigns. T he DEVELOPER agrees <br />that this Development Agreement shall be binding upon its successors and <br />assigns. <br /> <br />TFIER~OF, the parties have hereunto set their hands and seals, this <br />,2003. <br /> <br />__ day of <br /> <br />TURTLE MOON INC. <br /> <br />-258- <br /> <br /> <br />