Agenda - Economic Development Authority - 06/13/2019

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all requirements of all applicable local, state, and federal laws and regulations which must be obtained or met before the Project may be lawfully constructed. (5) Neither the execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, nor the fulfillment of or compliance with the terms and conditions of this Agreement is prevented, limited by or conflicts with or results in a breach of, the terms, conditions or provision of any contractual restriction, evidence of indebtedness, agreement or instrument of whatever nature to which the Developer and Tenant are now a party or by which it is bound, or constitutes a default under any of the foregoing. (6) The Developer and Tenant will cooperate fully with the City with respect to any litigation commenced with respect to the Project. (7) The Developer and Tenant will cooperate fully with the City in resolution of any traffic, parking, trash removal or public safety problems which may arise in connection with the construction and operation of the Project. (8) Construction shall begin by September 1, 2019 and the construction of the Project will be substantially completed by July 1, 2020, subject to Unavoidable Delays. (9) The Developer acknowledges that Tax Increment projections contained in the Tax Increment Financing Plan are estimates only and the Developer acknowledges that it shall place no reliance on the amount of projected Tax Increments and the sufficiency of such Tax Increments to reimburse the Developer for a portion of the costs of the acquisition of the Development Property as provided in Article III. (10) The Developer will not seek a reduction in the market value as determined by the Anoka County Assessor of the Project or other facilities that it constructs on the Development Property, pursuant to the provisions of this Agreement, for so long as the TIF Note remains outstanding. 5 11750570v4