Agenda - Council - 08/24/2021 - Laserfiche WebLink

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ARTICLE VI ADDITIONAL PROVISIONS Section 6.1. Restrictions on Use. Until termination of this Agreement, the Owner and the Developer agree for themselves, their successors and assigns and every successor in interest to the Development Property, or any part thereof, that the Owner and the Developer and such successors and assigns shall operate, or cause to be operated, the Project as manufacturing, warehousing, storage and distribution facilities, including without limitation space necessary for and related to such uses, authorized under Minnesota Statutes, Section 469.176, Subdivision 4c and shall devote the Development Property to, and in accordance with, the uses specified in this Agreement. Section 6.2. Conflicts of Interest. No member of the governing body or other official of the City (each, a "City Party") shall have any financial interest, direct or indirect, in this Agreement, the Development Property or the Project, or any contract, agreement or other transaction contemplated to occur or be undertaken thereunder or with respect thereto, nor shall any such member of the governing body or other official participate in any decision relating to the Agreement which affects his or her personal interests or the interests of any corporation, partnership or association in which he or she is directly or indirectly interested; provided, however, that neither of the foregoing prohibitions shall be applicable to the holding of a non -controlling interest by any City Party in any publicly traded entity. No member, official or employee of the City shall be personally liable to the City in the event of any default or breach by the Developer or successor or on any obligations under the terms of this Agreement. Section 6.3. Titles of Articles and Sections. Any titles of the several parts, articles and sections of the Agreement are inserted for convenience of reference only and shall be disregarded in construing or interpreting any of its provisions. Section 6.4. Notices and Demands. Except as otherwise expressly provided in this Agreement, a notice, demand or other communication under this Agreement by any party to any other shall be sufficiently given or delivered if it is dispatched by registered or certified mail, postage prepaid, return receipt requested, or delivered personally, and (1) In the case of Developer is addressed to or delivered personally to: c/o Oppidan, Incorporated 400 Water Street, Suite 200 Excelsior, MN 55331 Attn: David Scott Email: dave@oppidan.com (2) in the case of the Owner is addressed to or delivered personally to: Ramsey Industrial Owner LLC c/o Rockpoint Group, L.L.C. Woodlawn Hall at Old Parkland 3953 Maple Avenue, Suite 300 Dallas, Texas 75219 16 13580713v3