11-13-2002 Council Agenda - Laserfiche WebLink

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the event of a conflict between this Agreement and the Preliminary Development Agreement, the terms of this Agreement control. 13.6. Law Governing. This Agreement will be governed and constnied in accordance with the laws of the State. 13.7. AuthorityEDA Approval. Any approval, execution of documents, or other action to be talcen by the C+EyEDA pursuant to this Agreement, for the purpose of carrying out the terms of this Agreement or for the purpose of determining the sufficiency of the Developer's performance under this Agreement, may be made, executed or taken by the City's staff without further approval by the City Cotmsi -IEDA. 13.8. No Business Subsidy. This Agreement does not constitute a business subsidy within the meaning of Minnesota Statutes, Sections 116J.9932, 116J.995 by reason of the exception for assistance of housing. 13.9. Memorandum. Contemporaneously with the execution of this Development Agreement the Parties will execute and the Ci -tyEDA may thereafter record a Memorandum of this Agreement in the form attached as Exhibit E. 13.10. Effective Date. If the Parties execute and deliver this Agreement without completing the blank for the Effective Date in Section 1, the Effective Date is the date on which the last individual to execute this Agreement on behalf of one of the Parties acknowledges his or her signature as evidenced by the acknowledgments appearing beneath the Parties' signature blocks. 13.11. Third Party Litigation. Each Party will reasonably cooperate with the other Party with respect to any litigation third parties commence with respect to the Project. 13.12. Termination and Survival of Terms. This Agreement terminates as of the Termination Date; provided, however, the Developer's obligations under Section 10.4 survive the expiration of this Agreement or the termination of this Agreement pursuant to Section 12.3 with respect to any event, occurrence or circumstance existing prior to the date of such expiration of termination. 13.13. Fees. Under the terms of the City's Ordinances, the Developer is required to pay certain fees in connection with the Project. The Developer has asked that the amount of those fees be set forth in this Agreement. The fees are as follows: 1428086v6c Red (V8 to V7) (a) Based on the assumed construction cost of $8,000,000.00, the building permit fee will be $31,158.75. Developer's staff provided the City with the construction cost estimate of $8,000,000. The City has not yet independently confirmed or agreed to the $8,000.000 construction cost estimate and the amount of the permit fee may change if the City determines, that prior to the issuance of the building permit, the anticipated construction costs will exceed $8,000,000. -22-