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I I I I I I I ! I I I I I I I I I I providing consideration, and the City shall be under no obligation to state any reasons if it determines to reject the proposal of Rum River Hills, Inc., and to take possession of the cash deposit of $5100.00. Said sum shall be escrowed in such a manner as designated by the City Attorney. 4. ~ It is acknowledged by the parties that although the City Charter contains a clause which may entitle Developer to rely on previous municipal approvals, that the Developer and the City nevertheless intend to follow the provisions of the City Charter, without prejudice to their rights to claim exempt status, relative to the requirement of treating the conveyance of Outlots A, B, D and E by ordinance. If in the event pursuant to the City Charter, a referendum be demanded of said ordinance, and said ordinances subsequently be defeated, and in the further event that Developer either unsuccessfully pursues other remedies through the Courts or determines to abandon the project, then, in that event, both parties acknowledge and agree that an appropriate remedy for both equitable and legal relief for both parties would be to have the City unilaterally vacate the entire plat of Rum River Hills, and reconvey Outlots A, B and D to Developer thereby restoring Developer to its original position. Such action shall be at the expense of Developer, and no approval of Developer shall be required for such action. No building permits for any of the property in the planned unit development shall be issued until the operative zoning and land conveyance ordinances are effective. In the event Developer deems it necessary to record the planned unit development plat prior to the effective date of the City's ordinance rezoning the