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I <br />I <br />I <br />I <br /> <br />I <br />I <br />I <br />I <br />l <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> b) The parties agree that there must be fair representation of the <br /> parties directly involved in the dispute.. <br /> <br /> c) The parties will use legal proceedings as a last resort. <br /> <br /> d) In the event the parties are unable to resolve the dispute, each party <br /> retains all rights, remedies or defenses it had prior to entering the process. <br /> <br /> 6) The parties shall resolve their dispute within 60 days of their first meeting. <br /> <br /> If they fail to ~1o so, either party may commence legal proceedings. <br /> <br /> B. City to Remain in Taxing Jurisdiction. For so long as bonds issued to finance <br /> <br /> the Project are outstanding, the City shall remain in ACHRA's taxing jurisdiction. <br /> <br /> C. Management Fee. ACHRA shall be entitled to receive an annual management fee <br /> <br />for overall project administration during its ownership of the realty and operation of senior citizen <br />housing, which fee shall not exceed $15,000 per year, provided that such maximum amount shall <br />be adjusted annually in accordance with the Consumer Price Index. <br /> <br /> D. Term of Agreement. This agreement shall be in effect until the first of the <br /> <br />following occurrences: <br />1) Termination in accordance with Section 2A hereof; <br />2) Transfer of the land by ACHRA to a third party following non-exercise by <br /> <br /> the City of its Right of First Refusal; <br /> <br /> 3) Exercise by the City of its Right of First Refusal. <br /> <br /> E. Records, Accounts and Reports. The ACHRA and the Ciiy shall establish and <br />maintain such funds and accounts as may be required by good accounting practices. The relevant <br />books and records of the ACHRA and the City shall be subject to the provisions of Minnesota <br />Statutes, Chapter 13, the Minnesota Government Data Practices Act,'and Minnesota Statutes, <br />Section 16B.04. <br /> <br /> F. Disposition of Excess Revenues. At the time that the bonds used to finance the <br /> <br />Project are paid in full, should there be any funds remaining from Project revenues or proceeds <br />from the sale of the Project Site, such funds shall be divided equally between the City and the <br />ACHRA, after first reimbursing the City for (i) the actual costs expended by the City in acquiring <br />the Project Site, the actual costs of extending public utilities to the Project Site, less amounts <br /> <br /> <br />