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DEVELOPER, his/her successors and assigns. <br />r <br />24. Violation ot`.This Agreement. If the DEVELOPER fails to perform any of the terms <br />1 of this Agreement in the manner required by the CITY, the CITY shall be entitled to <br />recover, frond the DEVELOPER or the issuer of DEVELOPER'S financial guarantee, <br />the full amou`, nt of any and all financial guarantees. Breach of any of the terms of this <br />Developmen{ Agreement by the DEVELOPER shall also be grounds for denial of <br />Building Pennits for buildings in the Plat. <br />1 <br />IN WITNESS THEREOF, the parties have hereunto set their hands and seals, this _ day <br />1 <br />of , 1995. <br />' WAYNE L. JOHNSON <br />1 By. ` <br />As: President' <br />Of: North Lake Properties, Inc., a Minnesota corporation, General Partner of Rum River <br />Propertiek <br />1 STATE OF MjNNESOTA ) <br />r ) ss. <br />COUNTY OF' ) <br />The foregoing was acknowledged before me this day of , <br />1995 by Wayni L. Johnson, President of North Lake Properties, Inc., a Minnesota <br />1 corporation, as General Partner of Rum River Properties, a Minnesota General Partnership, on <br />behalf of the corporation and the partnership. <br />Notary Public <br />1 <br />CITY OF RA4SEY: <br />ATTEST: <br />' Mayor <br />1 <br />1 <br />City Administrator <br />V05 <br />