Agenda - Council - 08/25/1992 - Laserfiche WebLink

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day of FAYE cONSTRiJCTION COMPANY 26. : ipr0 if of Authority. When the DEVELOPERS are a corporation, the CITY ~reqtl~res proof of authority by the corporation to execute this Agreement. This :prodf of authority could be satisfied by providing the CITY with a certified copy of minutes of the corporate Board of Directors granting such authority. 27. l~nv~lidit_v of Any One Section. If any portion, section, subsection, sentence, qaui~e, paragraph or phase of this Agreement is for any reason held to be invalid by it cobrt of competent jurisdiction, such decision shall not effect or void any of the :othe~ provisions of this Agreement. 28. iReei~rdine of Development Agreement. The DEVELOPERS agree that ~{his ~)evelSpment Agreement shall be recorded in the office of the Anoka County '-RecOrder and agrees that the terms and provisions of this Agreement shall be a icov~nant on any and all deeds relative to the property included in the Plat. 29. ~Vioiation of this A~,reement. The DEVELOPERS agree that the terms of the [fin~tcial guarantee s-hall be deemed to have been violated if the DEVELOPERS !fail io perform any of the terms of this Agreement in the manner required by the CI2tY and the CITY shall be entitled to recover from the DEVELOPERS or the ]ssu.~.r of the DEVELOPERS' letter of credit, the full amount of the letter of credit. ' 7 30. i~_er;eement Binding On Heirs. etc. The DEVELOPERS agree that this De,d$1opment Agreement shall be binding upon their successors and assigns. iBreach of any of the terms of this Development Agreement by the DEVELOPERS ishal~ be grounds for denial of Building Permits for buildings in the Plat. IN WITNI~SS THEREOF, the parties have hereunto set their hands and seals, this ~ ' ,1992. RIVENWICK CORPORATION Ivan Schwartzman,!Parmer James D. Fenning, President CITY OF RAM~Ey James R. Gilb~'tson, MaYor Michael J. Leuer, Vice President [ Ryan Schroeder, City Administrator STATE OF MINNESOTA COUNTY OF ANOKA SS.