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I <br /> I <br /> <br /> ! <br /> <br />! <br />I <br />! <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />! <br /> <br />the ever, t that the ('~ty, at ~ts. option, deter~ir, e~ to accept <br /> <br />a park]and dedzcation fee been utilized ~n the platting of White <br />Pine Estates. C~ty further ackno~']edges, however, that ]t has <br />been ~nformed that Ru~, Rzver Hills, Inc. Znten~ to make <br />proposal to the City, which proposal will be presented wzth~n ]20 <br />days after the fi]ing of the plat, describing an alternative <br />method of providing consideration to the City for its conveyance <br />of Out]or E. Bo~'ever, it shall be solely the option of the City <br />as to whether or not to accept sald alternative method of <br />providing consideration, and the City sba]] ~ under no <br />obligation to state any reasons if it determines to reject the <br />proposal of Rum River Hills, Inc., and to take possession of the <br /> <br /> cash deposit of S . Said sum shall be escrowed in such a <br /> <br /> manner as designated by the City Attorney. <br /> <br /> 4. Contingency. ~t &s acknowledged by the parties that <br /> although the City Charter contains a clause which may entitle <br /> Developer to rely on previous municipal approvals, that the <br /> Developer and the City nevertheless intend to follow the <br /> provisions of the City Charter, without prejudice to their rights <br /> to claim exempt status, relative to the requirement of treating <br /> the conveyance of ~tlots A, B, D and E by ordinance. In any event, <br /> pursuant to the City Charter, a referendum ~ demanded of said <br /> ordinance, and said ordinances subsequently be defeated, and <br /> the further event that Developer either unsuccessfully pursues <br /> other remedies through the Courts or determines to abandon the <br /> project, then, in that event, both parties acknowledge and agree <br /> <br /> <br />