Agenda - Council - 03/24/2015 - Laserfiche WebLink

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(c) Either party may, at its sole cost and expense, take such actions as the party deems necessary to maintain, repair and/or reconstruct or cause to be maintained, repaired and/or reconstructed the Footings serving its Building.. (d) Any repairing or reconstruction of the Wall Cap shall be on the same location and of substantially the same size as Wall Cap being repaired replaced and of the same or similar material, of the same quality or better, as that used in the original Wall Cap or portion thereof. (e) Notwithstanding subsection (a) above, if all or any portion of the Wall Cap is destroyed or damaged by fire or other cause that also damages one but not both of the Buildings, the owner of the damaged Building shall restore the affected Wall Cap at its sole cost and expense. (f) Notwithstanding anything in the foregoing to the contrary, in the event all or any portion of the Wall Cap is damaged or destroyed by the default, negligence or intentional misconduct of one of the parties hereto or its agents, tenants, contractors, employees or invitees, such party shall, at its sole cost and expense, rebuild or repair the Wall Cap or portion thereof so that the Wall Cap after restoration shall be in substantially the same condition which existed prior to such damage or destruction. 2. In the event that any controversy arises between the parties hereto with respect to the necessity for or cost of maintenance, repairs and/or reconstruction or with respect to any other rights or liabilities of the parties to this Agreement, the prevailing party shall be entitled to be reimbursed by the non -prevailing party for the reasonable attorneys' fees incurred by the prevailing party. 3. This Agreement shall be governed by and subject to the Laws of the State of Minnesota. Any action, litigation or suit (a "Proceeding") arising out of or relating to this Agreement may be brought in the courts of Anoka County in the State of Minnesota, or, if it has or can acquire jurisdiction, in the United States District Court for the District of Minnesota, and each of the parties irrevocably submits to the exclusive jurisdiction of each such court in any such Proceeding, waives any objection it may now or hereafter have to venue or to convenience of forum, agrees that all claims in respect of the Proceeding shall be heard and determined only in any such court and agrees not to bring any Proceeding arising out of or relating to this Agreement in any other court. 4. This Agreement shall be recorded with the Registrar of Titles of Anoka County, Minnesota. 5. All notices, elections, requests and other communication hereunder shall be in writing and shall be deemed given; (i) when personally delivered, or (ii) the next business day after being deposited with a recognized overnight mail or courier delivery service, addressed as follows (or to such other person or at such other address, of which any party hereto shall have given written notice as provided herein). If to F&C: 6983739v2 F&C Ramsey Apartments, LLC do Flaherty & Collins Properties c/o Cushman & Wakefield/NorthMarq 3500 American Blvd. West, Ste. 200 Bloomington, MN 55431 Attn: Lance Steiger 26