Agenda - Council - 04/10/2001 - Laserfiche WebLink

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26. 27. 28. 29, 30. 31. 32. Marketable Title. Prior to recording of the Final Plat, the DEVELOPERS shall provide the CITY with proof of marketable title to the Plat either through a currently certified abstract, registered property abstract or title insurance. Certificate of Occupancy. The term "Certificate of' Occupancy" as used in this Agreement shall be defined as a document issued by the City's Building Official which authorizes the structure to be used for its intended purposes. Invalidity of Any Section. If any portion, section, subsection, sentence, clause, paragraph or phase of this Agreement is for any reason held to be invalid by a court of competent jurisdiction, such decision shall not effect or void any of the other provisions of this Agreement. Proof of Authority. When the DEVELOPERS are a corporation, the CITY requires proof of authority by the corporation to execute this Agreement. This proof of authority may be satisfied by providing the CITY with a certified copy of minutes of the corporate Board of Directors granting such authority. Recording of This Agreement. The DEVELOPERDDS shall record this Agreement in the office of the Anoka County Recorder and agrees that the terms and provisions of this Agreement shall run with the land and shall bind the DEVELOPERS, their successors and assigns. Violation of This Agreement. If the DEVELOPERS fail to perform any of the terms of this Agreement in the manner required by the CITY, the CITY shall be entitled to recover, from the DEVELOPERS or the issuer of DEVELOPER'S financial guarantee, the full amount of any and all financial guarantees. Breach of any of the terms of this Development Agreement by the DEVELOPER shall also 'be grounds for denial of Building Permits for buildings in the Plat. Agreement Binding On Successors and Assigns. The DEVELOPERS agree that this Development Agreement shall be binding upon its successors and assigns. IN WITNESS THEREOF, the parties have hereunto set their hands and seals, this day of ,2001. HOMESTEAD MULTI-FAMILY DEVELOPMENT CORPORATION By: As: CITY OF RAMSEY: By: Mike Schneider Thomas G. Gamec President As: Mayor I I I i I I I I I I I I I I I I I I