Agenda - Council - 12/28/2006 - Laserfiche WebLink

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4.3 the Citv Council amending the Zoning and Subdivision Ordinance to designate the Development Property as a B-3 Business District on or before February 27.2007: 4.4 Developer submitting the Master Plan to the Citv on or before 200 . and the Citv Council approving the Master Plan on or before February 27 2007• 4~5 Developer submitting Preliminary Plat and the Preliminary Plat Data to the Citv on or before 200 ,and the Citv Council approvin the Prehmina Plat and the Preliminary Plat Data conditioned only upon Developer's obligakon to comply with reauirements of the Zoning and Subdivision Ordinance and anv other conditions acceptable to Developer in Developer's sole and absolute discretion. on or before February 27 2007 City's obligation to complete the CR 116 Improvements and the Citv ubiic Improvements on or before October 1 2008 is contingent upon Developer submitting and the Citv Council anprovmg the Final Plat and the Final Plat Data on or before July 10 2007• Developer recording the Final Plat on or before August 15 2007• and Developer full performing Developer's obhgakons under the Purchase Agreement or curing anv defaults in Developer's performance of those obligations within the time period allowed for a cure under the terms of the Purchase Agreement Developer's obligation to complete the Developer PubLc Improvements on or before the completion dates set forth in Section is contingent upon City ful<v performing City's obligations under the Purchase Agreement or curing anv defaults in City's performance of City's obligations within the time period allowed for a cure under the terms of the Purchase Agreement If a contingenc~is not satisfied or waived within the time period set forth for the satisfaction of the contingengencv inin this Section as such time periods may hereafter be modified by written agreement of the Parkes, either Party may notifv the other Party in accordance with Section that the Party is exercising its contingency Except for the provisions of Section which ~. a.V a.aa.a. Vl GAGl V1JG of contin encv if the contingency is not fully satisfied or waived prior to the expiration of that five day period. Either Party may at anv time and from time to time notifv the other Party that it ><s waiving one or more of its contingencies and such a waiver is effective as of the effective date of the notice under Section but once a Party has delivered a notice of waiver of a contingency to the other Party the waiver may not be revoked without the consent of the other Party 5. Representations and Warranties. 5.1 Reyresentation and Warranty of City. City represents and warrants to Developer that City is a Minnesota municipal corporation and a home rule charter city and has the power to enter into this Agreement and carry out its obligations hereunder, and City has duly authorized the execution, delivery and performance of this Agreement. 1974417vdoc V2 to V 1 12/18106 -130-