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Agenda - Economic Development Authority - 08/08/2024
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Agenda - Economic Development Authority - 08/08/2024
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3/14/2025 12:00:23 PM
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8/1/2024 1:07:30 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
08/08/2024
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a) From and after completion of the subject improvements as specified in <br />Exhibit `B", the Owner of Lot 2 shall reimburse the Owner of Lot 1 for 29 <br />percent of the initial construction costs thereof. Said reimbursement shall be <br />due and payable within thirty (30) days after receipt of an invoice from the <br />Owner of Lot 1 for the same; and, <br />b) From and -after completion of the improvements as specified in Exhibit "B", <br />the Owner of Lot 2 shall reimburse the Owner of Lot 1 for 29 percent of the <br />maintenance costs on a monthly basis within thirty (30) days after receipt of <br />an invoice from the Owner of said Lot 2 for the same. <br />6. No Dedication. Notwithstanding anything herein to the contrary, the Fnsement <br />shall not be deemed dedicated to the public or otherwise deemed public land. <br />Notwithstanding that it is a party to this Agreement, Ramsey shall have no <br />obligation and no right, unless otherwise existing independent of this Declaration, <br />under the ordinances, statutes and other laws under which Ramsey operates, -to <br />maintain and administer the Easement area, except the Easement area located upon <br />its own lot in a manner consistent with this Agreement. Except as may otherwise <br />be specifically provided herein, no right or privilege of any Owner shall inure to the <br />benefit of any third party Person nor shall any third party Person be deemed to be a <br />beneficiary of any of the provisions contained herein. <br />7. Parking Restriction. Notwithstanding any other provision hereof, the Owner <br />of Lot 2, its lessees, employees, agents, contractors, customers, guests and <br />invitees, understand that the primary purpose of the parking designated on Exhibit <br />"B" which are located upon Lot 1 during the hours of 8:00 a.m. to 6:00 p.m., <br />Monday through Friday (excepting legal holidays) and that during the hours of 8:00 <br />a.m. to 12:00 noon Saturdays are for the operation of the bank facility and shall <br />abide by any reasonable requests from said owners. <br />8. Miscellaneous. The headings used herein are for convenience only and are not <br />to be used in interpreting this Declaration. This Declaration may not be modified, <br />amended or changed orally, but only by an agreement in writing signed by the <br />affected Owners. No Owner shall be deemed to have waived any rights under this <br />Declaration unless such waiver is given in writing, and signed by such Owner. If <br />any provision of this Declaration is invalid or unenforceable, such provision shall <br />Page 3 of 5 <br />
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