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providing consideration, and the City shall be under no <br />obligation to state any reasons if it determines to reject the <br />proposal of Rum River Hills, Inc., and to take ~ossession of the <br />cash deposit~of $5100.00. Said sum shall be escrowed in such a <br />manner as designated by the City Attorney. <br /> 4. ~ It is acknowledged by the parties that <br />although the~'City Charter contains a clause'which may entitle' <br />Developer to-rely on previous municipal apProvals, that the <br />Developer and the City nevertheless intend to follow the <br />provisions of the City Charter, without prejudice to their rights <br />to claim exempt status, relative to the requirement of treating <br />the conveyanae of Outlots A, B, D and E by ordinance. If in the <br />event pursuant to the City Charter, a referendum be demanded of <br />said ordinance, and said ordinances subsequently be defeated, and <br />in the further event that Developer either unsuccessfully pursues <br />other remedies through the Courts or determines to abandon the <br />project, then, in that event, both parties acknowledge and agree <br />that an appropriate remedy for both equitable and legal relief <br />for both part'ies would be to have the City unilaterally vacate <br />the entire plat of Rum River Hills, and reconvey Outlots A, B and <br />D to Developer thereby restoring Developer to its original <br />position. SuCh action shall be at the expense of Developer, and <br />no approval of Developer shall be required for such action. No <br />building permits for any of the property in the planned unit <br />develounent shall be issued until the operative zoning and land <br />conveyance ordinances are effective. In the event Developer <br />deems it necessary to record the planned unit development plat <br />prior to the effective date of the City's ordinance rezoning the <br /> <br /> <br />