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all of said improvements in a good and workmanshiplike manner, <br />pursuant to the plans and specifications and requirements of <br />the City Engineer. Upon the Developer's completing Phase I <br />and the City approving the same, the said mortgage may be <br />partially satisfied such that the outstanding mortgage balance <br />shall be $87,300.00 and the City shall release from the mortgage <br />and execute a Partial Release of the mortgage for the following <br />lots: <br /> <br /> Lot 1, Block 1; <br /> Lots 1 and 2, Block 2; <br /> Lots 1 and 2, Block 3; <br /> Lots 1, 2, 3, 4 and 5, Block 4; <br /> Lots 1, 2 and 3, Block 5; <br /> Lots 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 and 12, Block 6; <br /> Lots 2 and 3, Block 7; and <br /> Lot 2, Block 9. <br /> 3) The Developer will not request and hereby waives any right <br />to obtain building permits for any of the lots and blocks within <br />"Barthel's Rum River Acres 2nd Addition" that remain subject to the <br />mortgage of the City unless and until the required improvements in <br />the plat are installed and accepted by the City as required by the <br /> <br />original performance contract. <br /> · 4) Ail other terms of the original performance contract between <br />the parties hereto dated October 12, 1979 except those amended by this <br />agreement shall continue in effect. <br /> <br /> 5) This agreement shall be binding on all the heirs, successors <br /> <br />and assigns of the parties hereto. <br /> <br />CITY OF RAMSEY <br /> <br />MAYOR <br /> <br />'-iTS PRESIDENT \ <br /> <br /> <br />