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d. Purchaser acknowledges that it is subject to and bound by the terms of <br />Section 4.19 (special service district--AUAR roadway improvements) and waives the <br />right to object to the establishment of the special service district, waives its right to <br />appeal the establishment of the special service district, and waives its right to file an <br />objection to the ordinance, pursuant to Minn. Stat. Ch. 428A as cited in Section 4.19, <br />with respect to the Property. <br /> <br /> e. Purchaser agrees to enter into an escrow agreement, in form and substance <br />satisfactory to Seller, Purchaser and the City, as contemplated by Sections 7.7, 7.13 and <br />9.7 of the Master Development Agreement, with respect to Purchaser's acquisition of <br />each portion of the Property, which shall include the consents and waivers by Purchaser <br />required thereby. <br /> <br /> 3. Seller's Rights and Obligations under the Master Development Agreement. <br />Except to the extent provided otherwise in Section 2 above, Seller shall have all rights and <br />obligations of the Developer under the Master Development Agreement with respect to the <br />Property. Without limiting the generality of the foregoing, Seller agrees as follows with respect <br />to the Property: <br /> <br /> a. Any payments or obligations to the City arising under the Master <br />Development Agreement or any Secondary Development Agreement relating to the <br />Property are the sole responsibility of Seller, except to the extent Purchaser has expressly <br />assumed such payments or other obligations in writing. Without limiting the generality <br />of the foregoing, Seller shall be responsible for the payment of all park and trail fees <br />pursuant to Section 4.12 of the Master Development Agreement. <br /> <br /> b. Seller shall be responsible for complying with Section 4.14 (preparation of <br />final plans for grading within a phase) of the Master Development Agreement with <br />respect to the Property. In addition, Seller agrees to rough and final grade all of the <br />residential lots that Purchaser elects to purchase. <br /> <br /> c. Seller agrees to enter into an escrow agreement, in form and substance <br />satisfactory to Seller, Purchaser and the City, as contemplated by Sections 7.7, 7. ! 3 and <br />9.7 of the Master Development Agreement, at each closing with respect to theProperty <br />and to escrow the amounts required thereby. <br /> <br />This Section 3 is an agreement between Seller and Purchaser, and is not binding on the City. <br /> <br />4. City Agreement. The City hereby agrees as follows: <br /> <br /> a. For ease in administering this Agreement, the total taxable market value of <br />residential Development to be constructed on the Property upon complete build out shall <br />be deemed to be $241,815,000.00. To ensure that Purchaser's development of the <br />Property is not delayed due to a failure of Seller to attract commercial development <br />sufficient to comply with Section 4.16 of the Master Development Agreement, the City <br />agrees not to approve Final Plans for residential units within the Subject Property that are <br />located outside the Property until (i) non-residential benchmarks set forth in Section 4.16 <br /> <br />2408159v5 3 <br /> <br /> <br />