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City agrees that if it does not receive the reports, the City will mail the Developer a warning within <br />one week of the required filing date. If within 14 days of the post marked date of the warning the <br />reports are not made, the Developer agrees to pay to the City a penalty of $100 for each subsequent <br />day until the report is filed up to a maximum of $1,000. <br />(4) In addition to the assistance the City is granting to the Developer pursuant to this <br />Agreement, the Developer also intends to apply for financial assistance from other "grantors" as <br />defined in the Business Subsidies Act in connection with the Project, including the Minnesota <br />Department of Employment Economic Development (Minnesota Investment Fund and Job <br />Creation Fund). <br />(5) <br />There is no parent corporation of the Developer. <br />(6) The Developer agrees to continue operations on the Development Property for at <br />least five (5) years after the Benefit Date. <br />(7) The Developer certifies that it does not appear on the Minnesota Department of <br />Employment and Economic Development's list of recipients that have failed to meet the terms of <br />a business subsidy agreement. <br />9 <br />17653 1970v1 <br />