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20. <br /> <br />21. <br /> <br /> Parking Improvements. ]Developer agrees that Developer may not convey any <br /> parcels within the Core Area (except to the City) or develop any parcels within <br /> the Core Area. until DevelPPer, ithe City and any Interested'Parties with any right, <br /> title or, interest i¢ Or tO any portion of the real estate located within the Core Area <br /> execute the Parking ImprOvement Maintenance Agreement. <br /> <br />The Master Agreement is hereby amended by adding a new Section 5.5 which reads as <br />Follows: <br /> <br /> 5.5 'OPTION. Contemporaneously with the execution of this First <br /> Amendment, the City and the Developer must execute the Option <br /> Agreement attached hereto as Exhibit Q. <br /> <br />Subject to Section 26, Sections 7.1 and 7.2 of the Master Development Agreement are <br />deleted in their entirety, and each is replaced with the following: INTENTIONALLY <br />OMITTED. <br /> <br />22. <br /> <br />Subject to Section 26, Section 7.3 of the Master Development Agreement is hereby <br />amended to read as follows: <br /> <br />7.3 COMMENCEMENT AND COMPLETION OF THE CITY <br /> <br />PHASE I ROADWAY IMPROVEMENTS. The City substantially <br />completed construction of the City Phase I Roadway Improvements on or <br />before December 31, 2004 (the "City phase I Roadway Improvements <br />Substantial Completion Date"). The. City must install the final lift of the <br />City Phase I Roadway Improvements on or before June 1, 2005..The City <br />Phase I Roadway Improvements constitute public streets and will be <br />maintained by the City as public streets. <br /> <br />23. <br /> <br />24. <br /> <br />Subject to Section 26, Section 7.5 of the Master Development Agreement is hereby <br />deleted in its entirety and replaced with the following: INTENTIONALLY OMITTED. <br /> <br />Subject to Section 26, Section 7.6 of the Master Development Agreement is hereby <br />amended to read as follows: ' <br /> <br />7.6 ASSESSMENT AGREEMENT FOR CITY PHASE I <br /> <br />ROADWAY IMPROVEMENTS. Minnesota Statutes, Chapter 429, the <br />City's Charter and the City's Ordinances authorize the City to assess all or <br />a portion of the cost of the City Phase I Roadway Improvements against <br />the property the City Phase I Roadway Improvements benefit. The City, <br />the Developer and the Interested Parties 'hereby agree the city Phase I <br />Roadway Improvements Will benefit the Unsold Subject Property. The <br />City will promptly commence and diligently pursue the actions necessary <br />to specially assess $8'76,035.00 o.f the cost of the City Phase I Roadway <br />hnprovements against the Unsold Subject Property pursuant to Mim~esota <br />Statutes, Chapter 429. The special assessment will be allocated among the <br />lots and outlots that constitute the Unsold Subject Property pursuant to the <br /> <br />1710f~52v2 <br /> <br />7 <br /> <br />-13- <br /> <br /> <br />