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Final Plat Seller must also provide Title with sufficient funds to pay the amounts which Title must pay to Anoka County (including but not limited to real estate taxes and recording fees) to record the Final Plat. ii Tender to Title, for payment to the City, an amount equal to the sum of the fees and charges which, under the City's Ordinances, are due and payable to the City at the time the Final Plat is recorded with respect to the Property within the Final Plat, if any, other than the Land. Fees and charges due and payable to the City may include, but are not limited to park dedication fees, trail fees, utility connection fees, and storm water fees. iii Deliver to Buyer a certified copy of a Resolution of Seller's board of commissioners authorizing the execution of the Option Agreement and the performance of Seller's obligations under the Option Agreement and this Agreement; iv Deliver to Buyer a duly executed and acknowledged Limited Warranty Deed conveying title to the Land from Seller to Buyer, subject to the following "Permitted Encumbrances:" (A) Building, zoning and subdivision statutes, laws, ordinances and regulations and, if applicable, any special service district ordinance adopted by the City pursuant to Minn Stat. Section 428A; (B) Reservations of minerals or of mineral rights in favor of the State of Minnesota, if any; (C) The reservation of a right of reverter in favor of Seller. The right of reverter shall provide that if: (1) Buyer does not commence construction of the "Minimum Improvements," as defined below, on or before the date twelve (12) months after the Effective Date; (2) Buyer does not substantially complete the construction of the "Minimum Improvements" on or before the date thirty-six (36) months after the Effective Date; or (3) if the holder of a Mortgage on the Property commences proceedings to foreclose its Mortgage prior to Buyer's substantial completion of the "Minimum Improvements," Seller may commence an action in Anoka County District Court seeking an order re -vesting title to the Property in Seller and granting Seller immediate possession of the Property. Buyer is deemed to have commenced construction when Buyer has: (a) obtained all building permits from the City necessary for the construction of the "Minimum Improvements" on the C-3 4937063v3