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that the Phase II Roadway improvements are available in a timely manner to serve <br />developing properties. <br />The RTC, LLC and the Bank agree that at the time the anticipated Amendment #1 is <br />signed, that the RTC will be current on all accounts with the City including, but not <br />limited to, Letters of Credit, platting fees, any outstanding administrative fees. The RTC, <br />LLC and the Bank further agree that if this document is not fully executed by November <br />30, 2004, all aspects of the original and current Master Development Agreement will be <br />in full force. <br />The following signatures indicate each parry's general intent to further negotiate and pursue a <br />binding agreement, but the City and the Developer do not intend this document to constitute a <br />binding agreement, an agreement to enter into a binding agreement or an agreement obligating <br />either party to negotiate in good faith in an attempt to reach a binding agreement. The City and <br />the Developer acknowledge that the agreement of the Bank is necessary to fully implement a <br />final agreement hereunder. <br />Jim Norman, City Administrator Date <br />City of Ramsey <br />John Feges, President Date <br />RTC, LLC <br />President Date <br />Community National Bank <br />cc: Tom Bray <br />Bill Goodrich <br />File (0414.04/20041 I047_JNorman.Third Revision. GeneralBusiness.mem.doc) <br />11 <br />