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I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> ! <br /> I <br /> I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />(vii) <br /> <br />(viii) <br /> <br />Conformance with the CITY OF RAMSEY's platting <br />(subdivision) regulations, and rezoning of the <br />property, if necessary; and <br /> <br />Such other terms and conditions as are customary in <br />development agreements approved by the CITY OF <br />RAMSEY. <br /> <br /> If BUYER and <br />agreement by March <br />without further obligation <br />shall be returned to BUYER; <br /> <br />SELLER have not executed such a development <br />1, 1997, this Agreement shall be terminated <br />by either party and the Earnest Money <br />provided, however, that if BUYER fails <br />to negotiate in good faith concerning the development agreement, <br />SELLER shall be entitled to retain the Earnest Money as liquidated <br />damages. <br /> <br /> (d) If the contingencies set forth in this section have not <br />been satisfied by the Closing Date, BUYER or SELLER may terminate <br />this Agreement by giving written notice to the other on or before <br />the Closing Date. If this Agreement is so terminated, the Earnest <br /> <br />Money shall be promptly returned to BUYER, except as otherwise <br /> <br />provided in Section 3 herein. <br /> <br /> 6. REAL ESTATE TAXES AND SPECIAL ASSESSMENTS. SELLER shall pay all real estate <br />taxes, penalties and interest, if any, payable in 1997. BUYER shall pay all real estate taxes due in 1998 <br />and thereafter. <br /> <br /> 6.1 LEVIED SPECIAL ASSESSMENTS, SEll FR shall pay all installments of special <br />assessments certified for payment with the real estate taxes due and payable in 1997 and all other special <br />assessments levied as of the date of this Agreement. <br /> <br /> 6.2 PENDING SPECIAL ASSESSMENTS. SELLER shall provide for payment of special <br />assessments pending as of the date of this Agreement for improvements that have been ordered by the <br />City Council or other governmental assessing authorities. As of the date of this Agreement, SELLER <br />represents that SELLER has not received a Notice of Hearing of a new public improvement project from <br />any governmental assessing authority, the costs of which project may be assessed against the Property. <br />If a special assessment becomes pending after the date of this Agreement and before the date of closing, <br />BUYER may, at BUYER'S option: <br /> <br />Assume payment of the pending special assessment without adjustment <br />to the purchase agreement price of the Property; or, <br /> <br /> <br />