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Agenda - Economic Development Authority - 03/08/2018
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Agenda - Economic Development Authority - 03/08/2018
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3/17/2025 2:27:46 PM
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5/14/2018 9:53:30 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
03/08/2018
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any reason whatsoever, such illegality or invalidity shall not affect the legality or validity <br />of the remainder of the Agreement. <br />26. CONSTRUCTION. The Parties acknowledge that this Agreement was initially <br />prepared by Seller solely as a convenience and that all Parties and their counsel hereto <br />have read and full negotiated all the language used in this Agreement. The Parties <br />acknowledge that because all Parties and their counsel participated in negotiating and <br />drafting this Agreement, no rule of construction shall apply to this Agreement to construe <br />ambiguous or unclear language in favor of or against any Party. <br />27. COUNTERPARTS; DIGITAL COPIES. This Agreement may be executed in any <br />number of counterparts and the signature pages of the separate counterparts combined <br />into a single copy of this Agreement which will then constitute a fully executed version <br />of this Agreement. A facsimile, .pdf file or digital copy of a signed counterpart or of an <br />assemblage of counterparts of this Agreement shall be deemed to be an original thereof. <br />28. TIME PERIODS. The time for performance of any obligation or taking any action <br />under this Agreement shall be deemed to expire at 5:00 p.m. Central Time on the last day <br />of the applicable time period provided for in this Agreement. If the time for the <br />performance of any obligation or taking any action under this Agreement expires on a <br />Saturday, Sunday or legal holiday, the time for performance or taking such action shall be <br />extended to the next succeeding day which is not a Saturday, Sunday or legal holiday. <br />CONSTRUCTION DEADLINE. Buyer shall a obtain certificate of occupancy for the <br />construction of a minimum 9,000 square foot tilt -up concrete industrial building by <br />December 31, 2019. At Closing, a "Right of Re -Entry Agreement" must be executed and <br />recorded to the Property providing that, in the event any of the above deadlines are not <br />met, Seller has the right to reclaim title to the parcel for which certificate of occupancy <br />has not been obtained, or in the alternative, and at Seller's sole discretion, Buyer shall <br />pay Seller $25,000. <br />29. PLATTING & DEVELOPMENT AGREEMENT. Buyer must obtain an approved <br />final plat, development agreement, and building exterior visual renderings with the City <br />of Ramsey for its intended project before Closing. The Development Agreement and Site <br />Plan must comply with all local zoning ordinances and design standards. <br />Page 10 of 13 <br />
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