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3) That the developer may convey to Ralph Nissen that certain <br />parcel as shown on the August 15, 1980 site plan described herein. <br /> 4) To insure that the platting process is properly and timely <br />completed, the Developer herewith shall deposit with the City cash, a <br />letter of credit or bond in the amount of $7,500.00. Said $7,500.00 <br />escrow may be used by the City to complete any part of the platting <br />process on the subject property herein which is not completed by the <br />developer. <br /> 5) The ~eveloper hereby gives the City the right to commence <br />and/or complete the platting process if the Developer fails to do so as <br />herein required. The permission granted herein includes the right of the <br />City to use its best judgment in making decisions relating to the platting, <br />in conformance with the City Code and the Developer hereby agrees to <br />execute any and all necessary docu~nents in order to get %he plat of record. <br /> 6) It is agreed by the pa~ties hereto that no building permit <br /> will be issued to Ralph Nissen unless and until this agreement has been <br /> executed by all parties hereto and the required escrow has been deposited <br /> with the City. <br /> 7) That upon completion of all of the above, the City will issue <br /> to Ralph Nissen a building permit for the improvement as shown on the <br /> hereinabove referred to site plan dated August 15, 1980. <br /> 8) This agreement shall run with the land and shall be recorded <br /> at the Anoka County Recorder's office and be binding on the heirs and <br /> assigns of the Developer. <br /> <br />DATE: <br /> <br />Witnesses: <br /> <br />DE PER <br /> <br />CITY OF RAMSEY <br /> <br />By: <br /> Its Mayor <br /> <br /> <br />