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of this Agreement. A facsimile, .pdffile 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. CONSTRUCTION DEADLINE. Buyer shall obtain a certificate of occupancy from the <br />City of Ramsey for the construction of minimum 60 unit 4 story hotel with restaurant <br />compliant with COR Zoning requirements to be further defined by an approved Site Plan <br />a year after closing. At Closing, a "Right of Re -Entry Agreement" must be executed and <br />recorded to the Property providing that, in the event the above deadline is not met, Seller <br />has the right to reclaim title to the parcel(s) for which a certificate of occupancy was not <br />obtained. <br />29. 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. Pacific 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 />30. 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, including The <br />COR Design Standards. City of Ramsey will reimburse Buyer up to $3500 for re -platting <br />expense. The reimbursement will only take place upon a successful closing and City of <br />Ramsey is not responsible for any cost reimbursement if Buyer does not close on subject <br />property. Buyer to provide written documentation of platting costs for reimbursement. <br />31. CONTINGENCIES. In addition to all other requirements and contingencies by the <br />Buyer and Seller herein, the Purchase Price of$1.00 is contingent on the following: <br />SELL <br />By: <br />By: <br />a. Satisfactory review of the underwriting by the Seller demonstrating the need of <br />financial assistance in the form of a land write down of $326,699. <br />b. City Council approval and execution of a Tax Increment Financing Agreement <br />tween the Seller and Buyer and or its assigns. <br />c. O ity Council approval of Business Subsidy for Buyer and or its assigns. <br />sey, a Minnesota municipal corporation <br />c�1 I L r <br />n eTou !`e , u, yor <br />Kurt Ulrich, City Administrator <br />Dated: 0 2/ 037 Z 9— <br />Dated: . _ ,.7.9z1$* <br />Page 10 of 12 <br />