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

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25. Proof of Authority. When the DEVELOPER is a corporation, the CITY requires proof of authority by the corporation to execute this Agreement. This proof of authority could be satisfied by providing the CITY with a certified copy of minutes of the corporate Board of Directors granting such authority. 26. Recording of This Agreement and Plat. The DEVELOPER agrees that this Development Agreement and the Plat shall be recorded in the office of the Anoka County Recorder and agrees that the terms and provisions of this Agreement shall run with the land and shall bind the DEVELOPER, his/her successors and. assigns. Upon request and confirmation of satisfactory completion of all DEVELOPER''obligations contained herein, as determined by the CITY, the CITY shall issue, a recordable release from development agreement. 27. Violation of This Agreement. If the DEVELOPER fails to perform any of the terms of this Agreement in the manner required by the CITY, the CITY `shall, be entitled to recover, from the DEVELOPER or the issuer of DEVELOPER'S financzal,y""guarantee, the full amount of any and all financial guarantees. Breach of any of the terms of this Development Agreement by the DEVELOPER :shall also be grounds for denial of Building Permits for buildings in ,the Plat. 28. Agreement Binding on Successors and .Assigns. The DEVELOPER agrees that this Development Agreement shall be binding upon its successors~and assigns. IN WITNESS TAEREOF, the parties have hereunto set their hands and seals, this day of `-;.2007: Saint Andrews Investment Group, LLC -; By: As: STATE OF MINNESOTA '~)ss COUNTY OF ) The foregoing instrument was acknowledged before me this day of 2007 by Steve Ness, as Senior Vice President of Saint Andrews Investment Crroup, LLC, a Minnesota limited liability company, on behalf of the company. Notary Public Nortlafork Office Condos Development Agreement Page 7 of 8 -297-