Laserfiche WebLink
Sen'.. by: BRIGGS MOROAN ST PAUL 651 223 6450; <br />01/05/00 17:13; #105; Page 5/10 <br />Property, and the City shall have no obligation or responsibility therefor <br />except for the City's obligation to reimburse Developer for Soil Correction <br />Costs as a part of the Reimbursable Development Costs pursuant to the <br />terms of the Agreement and the Tax Increment Note <br />9. 1@ odifiication of Section 2.4(b): Section 2.4(b) is deleted in its entirety and <br />replaced with the following: <br />(b) The City will initiate proceedings to create a new zoning district <br />such that the permitted uses in the new district will include those uses <br />formerly allowed in a B -3 district in the City's zoning ordinance in effect <br />immediately prior to June 28, 1995. Notwithstanding the foregoing, the <br />City's agreement to create the new district is not an agreement or guaranty <br />that the City will re -zone the Development Property to the new zoning <br />district. The City cannot hereby agree to such re- zoning, and the same may <br />only be accomplished by City council approval following all required <br />procedures, including public hearing. <br />10. lacletion of Section 2.4(4): Section 2.4(d) is deleted in its entirety. <br />11. Modification of' Section 3.1(c)(iv): The first sentence of Section 3.1(c)(iv) is <br />deleted in its entirety and replaced with the following; <br />(iv) Receipt by the City from the Developer, on or before January 5, <br />2000, of written notice that the investigations and due diligence to be <br />performed by the Developer as provided in subsection (d) below Is <br />satisfactory to the Developer and that the Developer will, without condition <br />or requirement, accept title to the Development Property if acquired by the <br />City. <br />12. Modification of Section 3.1(42: The first sentence of Section 3.1(4) is deleted in <br />its entirety and replaced with the following: <br />(d) Prior to December 15, 1999, Developer shall perform all due <br />diligence relating to the Development Property, including such inspections, <br />investigations, surveys, testing and studies as the Developer deems <br />necessary to satisfy itself regarding the status of title, environmental <br />conditions and soil and subsoil conditions and the suitability of the <br />Development Property for Developer's intended use. <br />1122867.3 3 <br />