02-23-2000 Council Agenda - Laserfiche WebLink

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If the Developer fails or refuses to perform Developer's obligations under this Agreement and such default continues for a period of thirty (30) days after the EDA gives notice to Developer of such default, (an "Event of Default "), the EDA may: 1. Declare the Developer to be in default under the Loan Agreement and exercise any of the remedies described in the Loan Agreement; or 2. Commence and action in Ramsey County District Court to recover damages from Developer or to seek Developer's specific performance of Developer's obligations under this Development Agreement. In any action to enforce Developer's performance of Developer's obligations under this Agreement, the EDA shall be entitled to recover reasonable attorney's fees and reasonable court costs. 7. Miscellaneous Provisions. a. Effective Date. This Agreement shall be effective as of this 21 day of December, 1995. b. Full Agreement. The Parties acknowledge that this Agreement represents the full and complete agreement of the Parties regarding the realignment of Marketplace Drive, the realignment of Middle Street, the reconfiguration of parking within the Project, the Developer's obligations to dedicate right -of -way easements and utility easements to the City of Little Canada and the Developer's obligation to transfer ownership of water and sanitary sewer mains serving public purposes to the City of Little Canada and all matters relating thereto. This Agreement supersedes and replaces any prior agreement, either oral or written, and any amendments or modifications to this Agreement must be in writing and executed by both Parties to be effective except that the final Redevelopment Plan which the 30804R4 Page 129