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providing consideration, and the City shall be u~der no <br />obligation to state any reasons if it determines to reject the <br />proposal of Rum River HJ!.ls, Inc., and to take ~osseSsion of the <br />cash deposit of $5100.00. Said sum shall be escrowed in such a <br />manner as designated t5, the City Attorney. <br /> <br /> 4. ~o_ntin~en-~v It ~s acknowledged by the parties that <br />although the £it~, ~arter contains a clause which ma}, entitle <br />Developer to rely on previous municipal approvals, that the <br />Developer and the Cit-y nevertheless intend to follow the <br />provisions of the Cit-y Charter, without prejudice to their rights <br />to claim exempt status, relative to the requirement of treating <br />t_be conveyance of ~tlots A, B, D and E by ordinance. If in the <br />event u~rsuant to the Cindy Charter, a referendum be demanded of <br />said ordinance, and said ordinances subsequently be d~_feated, and <br />in the further ~ent that Devetope_r efther unsuccessfully ~:rsues <br />other rem-=~2ies throu_~b ~dne Courts or determines to abandon tlne <br /> <br /> 4- <br />proje--t, then, in ~ha~ event, both .r~rties ac'kn~led~e and agree <br /> <br />~nat an a.'~propriate r~-ne~, for both equitable and le~al relief <br />for both parties ~ouid be. to have the Cit-y u~nilatera!ty vacate <br />~ne entire plat of Rum River ~iils, ~n~ reconvey (>ntiots A, B <br /> <br />D to Devalo.~er ~dnere~, restoring Deve!o.rer to its orJ~ina! <br />.r~sition. Such action shall be. at ~he expense of Developer, and <br />no approval of Developer shall be required for such action. No <br /> <br />b ..... ng ~r~nmits for any cf the proper~~ in tl~e planned <br /> <br />deve!o.rn~a, nt sba!! be_ issued , <br /> u .... 1 the operative zoning and tan~ <br /> <br />conv~.~'ance ordinances are effe$tive, in the event Deveio.rer <br />deem~ ft necessz~-y to record ~he planned unit development plat <br />prior to ~ne effective date of tlne City's ordin~_nce rezonin~ the <br /> <br /> <br />