Agenda - Council - 09/13/2016 - Laserfiche WebLink

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drafting this Agreement, no rule of construction shall apply to this Agreement to construe ambiguous or unclear language in favor of or against any Party. 27. COUNTERPARTS; DIGITAL COPIES. This Agreement may be executed in any number of counterparts and the signature pages of the separate counterparts combined into a single copy of this Agreement which will then constitute a fully executed version of this Agreement. A facsimile, .pdf file or digital copy of a signed counterpart or of an assemblage of counterparts of this Agreement shall be deemed to be an original thereof 28. OPTION TO EXTEND. In the event Buyer requests a 30 day extension of the Inspection Period or Closing Date, and the extension is agreed to in writing by Seller, Buyer must deposit an additional $2,500 Earnest Money with the Escrow Agent. The additional Earnest Money is nonrefundable, and will comply with terms outlined in Section 4 of this Agreement. 29. PLATTING & DEVELOPMENT AGREEMENT. Buyer must obtain an approved final plat and a development agreement with the City of Ramsey for the development of a minimum twelve (12) residential lots on the Property before Closing. The Development Agreement and Site Plan must comply with all local zoning ordinances and design standards, including The COR Design Standards. 30. CONSTRUCTION DEADLINE. Buyer shall obtain certificates of occupancy for the construction of nine single family homes pursuant to the following schedule: Construction Deadline Schedule: Three certificates of occupancy by October 1, 2017 Three certificates of occupancy by October 1, 2018 Three certificates of occupancy by October 1, 2019 At Closing, a "Right of Re -Entry Agreement" must be executed and recorded to the Property providing that, in the event any of the above deadlines are not met, Seller has the right to reclaim title to the parcels for which certificates of occupancy have not been obtained, or in the alternative, and at Seller's sole discretion, Buyer shall pay Seller $3,000 for each certificate of occupancy that is not obtained pursuant to the deadlines set forth above. 10