06-20-2022 Council Packet - Laserfiche WebLink

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73850847v2 12 hereof, Borrower will complete the work and pay any cost in excess of the amount of the Net Proceeds. Borrower agrees that if by reason of any such insufficiency of the Net Proceeds, Borrower shall make any payments pursuant to the provisions of this Section, Borrower shall not be entitled to any reimbursement therefore from the Lender, nor shall Borrower be entitled to any diminution of the amounts payable under Section 2.02 hereof. Section 6.05. Cooperation of City. The City shall cooperate fully with Borrower at the expense of Borrower in filing any proof of loss with respect to any insurance policy covering the casualties described in Section 6.03 hereof and in the prosecution or defense of any prospective or pending condemnation proceeding with respect to the Project or any part thereof or any property of Borrower in connection with which the Project is used and will, to the extent it may lawfully do so, permit Borrower to litigate in any proceeding resulting therefrom in the name and behalf of the Lender. In no event will the Lender voluntarily settle, or consent to the settlement of, any proceeding arising out of any insurance claim or any prospective or pending condemnation proceeding with respect to the Project or any part thereof without the written consent of Borrower so long as there has not occurred and is continuing an Event of Default hereunder. Section 6.06. Conflict of Interests/Code of Ethics; City Representatives Not Individually Liable. No member, official, or employee of the City shall have any personal interest, direct or indirect, in this Agreement, nor shall any such member, official, or employee participate in any decision relating to this Agreement which affects his personal interests or the interest of any corporation, partnership, or association in which he is, directly or indirectly, interested. No member, official, or employee of the City shall be personally liable to Borrower or any successor in interest, in the event of any default or breach by the City or for any amount which may become due to Borrower or successor or on any obligations under the terms of this Agreement. Article 7 Miscellaneous Section 7.01. Notices. All notices provided for herein shall be in writing and shall be deemed to have been given when delivered personally or when deposited in the United States mail, registered or certified, postage prepaid, addressed as follows: If to Borrower: Twin Lake Limited Partnership c/o Reuter Walton 4450 Excelsior Boulevard Suite 400 St. Louis Park, MN 55416 Attention: Anne Stephenson E-mail: anne@reuterwalton.com