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plat, shall have adequate unrestricted access to a dedicated public street sufficient to support Buyer's Intended Use of the Real Property. i. Corporate Approvals. On or before closing date, Buyer shall have received all necessary corporate approvals, approving Buyer's obligations under this Agreement and the transactions contemplated hereby. i• Re -platting. On or before closing date, Seller shall deliver verification that is acceptable to the Buyer that Outlot A, 1 1th Addition and Outlot B, 11't' Addition of Ramsey Town Center are legally conveyable lots. The Buyer will assume the responsibility to re -platting said lots in order to create buildable commercial lots that suit the Sellers needs. k. Special Service District. The Seller, as the owner of the Property and as the owner of other property in Ramsey Town Center Addition, will not file or join in a petition under Minn. Stat. Section 428A.08 for the creation of a special service district that would encompass the Property and, if other property owners file a petition for the creation of a special service district that would encompass the Property, the Seller will join with the Buyer in filing an objection to the adoption of the special service district ordinance in accordance with Minn. Stat. 428A.09. This Agreement will be documented in the form of a covenant that runs with title to the property and binds the HRA's successors in title for a period of ten (10) years following the date of this Agreement. If the Seller has created a special service district which includes the Property, the Seller will take necessary steps to remove the Property from the special service district prior to closing. 1. Right Of Wav (ROW) & Public Street. The Buyer shall pay for the surveying, grading, and construction of a public street to be constructed in the 60' ROW between Outlot A, 11th Addition and Outlot B, 11th Addition at the location shown in the attached Exhibit A. In addition, the Buyer shall pay for the construction and installation of water mains, sanitary sewer mains, and storm sewer mains in the easement area adjacent to the street and serving the Property in the locations shown on the attached Exhibit A through Exhibit D). Seller represents that no further action need be taken by it in order for Buyer to construct the street other than by the City's engineers to develop the design of the roadway to be constructed. m. Development Agreement. Within 45 days after submittal, the Seller and Buyer shall enter into a development agreement for Outlot A and Outlot B, RTC 11th Addition. Prior to closing the Seller shall provide a zoning verification letter indicating the proposed uses on said lots are allowed, specifically stating that pitched roofs and detached garages that are planned to be incorporated in the residential component are allowable, as well as, that a 3-5 story hotel/motel building would be also be deemed an acceptable use If any of the above contingencies have not been satisfied on or before the applicable dates stated in this Section 3, then this Agreement may be terminated, at Buyer's option, by written notice from Buyer to Seller. Such notice of termination shall be given within ten (10) days after a 3