Agenda - Council - 02/08/1994 - Laserfiche WebLink

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32. Violation of this Agreement. DEVELOPER B agrees that the terms of the fi$~-~cial guarantee shall be deemed to have been v~olated if the DEVELOPERS fall to perform any of the terms of this Agreement in the manner required by the CITY and the CITY shall be entitled to recover from DEVELOPER B or the is.~uer of the DEVELOPER B's letter of credit, the full amount of the letter of cr~t. 33. ~A_~reemen! Binding On Heirs. etc. The DEVELOPERS agree that this DSvelopment Agreement shall be binding upon their successors and assigns. Br~ach of any of the terms of this Development Agreement by the DEVELOPERS sh~ll be grounds for demal of Building Permits for buildings in the Plat. IN WITNESS THEREOF, the parties have hereunto set their hands and seals, this ~ day of. ; . ,1992. FAYE CONSTRUCTION COMPANY RIVENWICK CORPORATION ivan $chwan. z.m~. Parmer 3ames D. Fenning, President CITY OF RAMSEY Michael J. Leuer, Vice President James R. Gilberts6n, Mayor Ryan Schroeder, C~ty Administrator STATE OF MINNESOTA ) ) COUNTY OF ,K)NOKA ) SS. On the ' day of 1992, before me a Notary Public, personally appeared James R. Gilbertso~ and Ryan Schroeder, to me personally known, who, being each by me duly sworn did say that ~ey are respectively the Mayor and City Administrator of the Cir./of R~msey, the municipal corp~ration named in the foregoing insn-ument; .and seal affixed to said instrument is the corporate seal df said municipal corporation, and the said'insrrumem was si~ed and sealed on behah' of said muni¢~ 'pal corporation by authority of its Ci~ Council and said James R. Gilbertson and Ryap. Schroed6r, acknowledge said instalment to be the free act and deed of said municipal corporauon. (CITY SEAL)