Laserfiche WebLink
ARTICLE <br />P,_EPP~ESENTATIONS <br /> <br /> 3. i . REPRESENHATIONS ,~N~ WA.RJ~,rT!'ES OF THE CITY. The City <br />represents and warrants to the Developer that: <br /> <br />(a) <br /> <br />The Ci~ is a Minnesota municipal corporation and a home rule charter city m~d <br />has the power to enter into this Master A~eement and carry, out its obligations <br />hereunder. The Ci~ has duly authorized the execution, deLive~ and performance <br />of this Master A~eement. , <br /> <br />(b) <br /> <br />The CiD' has prepared the ALrAiK, as authorized by _Minnesota Rules 4410.3610, <br />and the City's current ordinances do not require further environmentM review <br />prior to Development of the 1KTC Projezt, except that a review of the AU.AR is <br />required every. 5 years and a use proposed by a Secondary Developer may require <br />further environmenrM review. <br /> <br />3.2 REPKESm---SFFATIONS ,~N'D W~.~R_R_ANTIES OF THE DEVELOPER. The <br /> <br />Developer represents and warrants to the City: <br /> <br />(a) Except for the City Property, the Developer holds fee title to the Subject Property.. <br /> <br />(b) <br /> <br />The Developer is a Minnesota limited liability company in good standing under <br />the laws of the State of M/nnesota. The Developer's members or board of <br />governors have authorized the individual executing th/s Master A~eement on <br />behalf of the Developer to execute this Master A~eement on behalf of the <br />Developer. <br /> <br /> 3.3 DEYT, LOPER'S OBLIGATION TO EXECUTE AxN-D RECORD THIS <br />AGREEMENT A_NVD T?IE M_ASTER FIN)~L PLAT. The parties contemplate that the <br />Developer will obtain title to the Subject Propemy after the City approves and executes this <br />Master A~eement. ARer the Councit approves this Master A~eement, the City will execute this <br />Master A~eement and deposit it m escrow with the.Developer's title insurer. The Developer <br />must submit the proposed Master Finat Plat to the Council within 30 days after the date the <br />Council approves this Master A~eement. As set forth in Section 4.2, the City may terminate <br />this Master A~eement if the Developer does not acquire fee title to al/of the Subject Property <br />except for the City Propexy, execute this Master Ageement and the Master Final Plat and record <br />this Master Agreement and the Masmr Final Plat on or before December 31, 2003. If, at the time <br />the Master Development A~eement or the Master Final Plat are recorded, as applicable, all or <br />any part of the Subject Property is subject to-a mortgage or other consensual or nonconsensual <br />lien, the Developer must cause the lienhotder to execute this Master A~eement or the Master <br />Final Plat, as applicable, or a separate instrument, to unconditionally subjec~ the lienholder"s <br />interest in the Su~ect ?rope~wy to tine terms of this Master A~e~ment or the terms of the Master <br />Final~m, at, as a~piicable.,. · <br /> <br /> <br />