06-10-2026 Council Packet - Laserfiche WebLink

Home Browse Search

15 Error! Unknown document property name. remainder thereof and the application of such term, provision and condition to persons or circumstances other than those as to whom it shall be held invalid or unenforceable shall not be affected thereby, and this Agreement and all the terms, provisions and conditions hereof shall, in all other respects, continue to be effective and to be complied with to the full extent permitted by law. Section 7.09. Signs; Public Events. (a) Borrower shall, prior to commencement of construction, erect, at its own expense, a sign in a prominent position on the Premises indicating to the general public that the City is providing financing for the Project. Borrower agrees that said sign may remain in place throughout the period of construction and for sixty (60) days beyond completion thereof, after which time it will be removed by Borrower. With respect to such sign, it is recommended that (i) the primary colors be green lettering on white background with the lettering being of professional quality and use the City logo, (ii) weatherproof materials be used, (iii) it shall be of sufficient size, in any event, the minimum size shall be 4’ by 6’ and include the name of the Project, Borrower, the Contractor, the Architect, and the phrase “this Project is being developed with the assistance and cooperation of CITY OF LITTLE CANADA and the METROPOLITAN COUNCIL METROPOLITAN LIVABLE COMMUNITIES FUND.” (b) Borrower shall furnish ample notice to the City of ground breaking, opening ceremonies and similar events so that the City may obtain publicity of and participation in such events. Borrower agrees to assist and cooperate in such publicity and participation. Borrower further agrees that the City shall have the right to issue press releases concerning the Project. (c) Borrower shall identify the “City of Little Canada” on all lists of funders, reports, press releases, etc., created to promote and highlight the Project and permit the City to refer to the project in all literature, press releases, public statements, etc. Section 7.10. No Joint Venture. The relationship between the Lender and Borrower is solely that of lender and borrower and is not, nor shall it be deemed to create, a partnership or joint venture in the Project. Section 7.11. Limitation on Lender Liability. No provisions contained in this Agreement nor any agreement, covenant or undertaking by the Lender contained in any document executed by the Lender in connection with the Project shall give rise to any pecuniary liability of the Lender or charge against its general credit or taxing powers or shall obligate the Lender financially in any way except with respect to the funding of the LCDA Proceeds. Section 7.12. City Approval; Representatives. Unless the City Council for the City determines otherwise in its discretion, whenever this Agreement provides for approval by or consent of the Lender, such approval or consent shall be given by and effective upon action, respectively, by the City Administrator of the City or their designee, unless (a) this Agreement explicitly provides for approval or consent by the City Council for the City, (b) approval or consent by the City Council for the City is required by applicable law, or (c) the approval or consent, in the opinion of the City Administrator, would result in a material change in the terms of this Agreement. Section 7.13. Compliance with LCDA Grant Program Regulations and Requirements. By accepting the LCDA Loan Proceeds, Borrower shall comply with all terms and conditions of the LCDA Grant Agreements as described in Exhibit H, attached hereto and incorporated herein, in the use of the LCDA Loan Proceeds and the construction and operation of the Project, and shall otherwise take all such