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I. Estimated Cost. It is understood and agreed that cost amounts set £orth m <br />this Contract as Stage I and Stage II hnprovements, unless specified as fixed amounts, are <br />estimated. The DEVELOPER agrees to pay the ..entire cost of said improvements <br />including interest, engineering and legal charges. <br /> <br /> J. Plat Approval Expenses. The DEVELOPER agrees that they will pay to <br />the CITY all CITY expenses incurred in the approval of the ~Plat, including, but not <br />limited to administration expenses, engineering and legal fees. Said expenses shall, be <br />paid within fifteen (15) days of billing by the CITY and outstanding billings shall be paid <br />prior to recording of the Final Plat. Any expenses incurred after recording of the Final <br />Plat shall also be paid within said fifteen (15) day billing period. Failure to pay the <br />CITY'S expenses within the fifteen (15). day billing period will permit the CITY to draw <br />upon any of the escrows required by this contract for payment. <br /> <br /> K. Reimbursement to the CITY. The DEVELOPER agrees to reimburse the <br />CITY for all costs incurred by the CITY in defense or enforcement of this Contract, or <br />any portion thereof, including court costs and reasonable engineering and attorney's fees. <br /> <br /> -L. Marketable Title. Prior to recording of the Final Plat, the DEVELOPER <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 Officiall <br />which authorizes the structure to be used for its intended purposes. <br /> <br /> N. License Required for Rental Units. Any units within the Plat that are to be <br />rented must first apply for and receive a rental license from the CITY. A separate rental <br />license is required for each unit proposed to be rented. <br /> <br /> O. 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 /> P. Proof of Authority. When the DEVELOPER is a corporation, the CITY <br />requires proof-of authority by the corporation to execute this Contract. This proof of <br />authority may be satisfied by providing the CITY with a ~ertified copy of minutes of the <br />corporate Board of Directors granting such authority. <br /> <br /> Q. .Recordina of This Contract. The DEVELOPER shall record this <br />Contract in the office of the Anoka Co~mty Recorder and agrees that the terms and <br />provisions of this Contract shall run with the land and shall bind the DEVELOPER, its <br />successor and assigns. <br /> <br />-395- <br /> <br />Ramsey Town Center llth Addition <br />Development Contract <br /> Page 8 of 11 Pages <br /> <br /> <br />