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L. Marketable Title. Prior to recording of the Final Plat, the DEVELOPERS <br />shall provide the CITY with proof of marketable title to the Plat either through a <br />currently certified abstract, registered property abstract or title insurance. <br /> <br /> M. Certificate of Occupancy. The term "Certificate of Occupancy" as used in <br />this Contract shall be defined as a document issued by the CITY's Building Official, <br />which authorizes .the structure to be used for its intended purposes. <br /> <br /> N. Invalidity of Any Section. If any portion, section, subsection, sentence, <br />clause, paragraph or phase of this Contract is for any reason held to be invalid by a court <br />of competent jurisdiction, such decision shall not effect or void any of the other <br />provisions of this Contract. <br /> <br /> O. Proof of Authority. Wher~ the DEVELOPERS is a corporation, the <br />CITY requires proof of authority by the corporation to execute this Contract. This proof <br />of authority may be satisfied by. providing the CITY with a certified copy of'minutes of <br />the corporate Board Of Directors granting such authority. <br /> <br /> P. Recording of This Contract.' The DEVELOPERS shall record this <br />Contract in the office of the Anoka County Recorder and agrees that the terms and <br />provisions of this Contract shall run with the land and shall bind the DEVELOPERS, its <br />successor and assigns. <br /> <br /> Q. Violation of This Contract. If the DEVELOPERS fails to perform any of <br />the terms of this Contract in the manner required by the' CITY, the CITY shall be <br />entitled to recover, from the DEVELOPERS or the issuer of DEVELOPERS' finanCial <br />guarantee, the full amount of any and. all financial guarantees. Breach of any of the terms <br />of this Development Contract by the DEVELOPERS shall also be grounds for denial of <br />Building Permits for buildings in the Plat. <br /> <br /> R. Contract Binding On Successors and Assians. The DEVELOPERS agree <br />that this Development. Contract Shall be binding upon its successors and assigns. <br /> <br />30. Requirements for Building and Occupancy Permits. No building permit for any lot in the <br /> Plat ~hall be issued until: (a) a Class 5 driving surface is installed to within 300 feet of the <br /> structure; (b) a Certificate of Survey, including that survey information required by the <br /> CITY has been supplied to the CITY Building Official; and (c) all the financial <br /> guarantees required by the CITY have been Satisfied. All foundation approvals will <br /> require a certificate of elevation verifying that the actual elevation is in compliance with <br /> the approved grading and drainage plan. (d) Permit from the Lower Rum River Watershed <br /> Management Organization has been obtained (e) Permit from Anoka County Soil <br /> Conservation District has been obtained (f) this Development Contract has been signed <br /> and received by.the CITY. A footings and foundation permit for two structures will be <br /> released to the DEVELOPERS prior to the Plat being recorded as long as the rest of the <br /> requirements of this section are met. <br /> <br />'Ramsey Town Center 7th Addition <br />Development Contract <br /> Page 13 of 16 Pages <br /> <br />-205- <br /> <br /> <br />