Resolution No. 16-02 EDA - Laserfiche WebLink

Home Search

(c) A determination by the Developer or its successor that the Redevelopment is economically feasible and in the best interests of the Developer or his successor. 4. This Agreement is effective from the date hereof through December 31, 2017. After such date, neither party shall have any obligation hereunder except as expressly set forth to the contrary herein. Notwithstanding anything to the contrary herein, the term of this Agreement may be extended by mutual written agreement of the parties, provided that the EDA's approval of such extension may be given by the EDA Executive Director. 5. The Developer shall solely be responsible for all costs incurred by the Developer, and the EDA shall be solely responsible for all costs incurred by the EDA, in connection with the negotiation and drafting of this Agreement and the parties obligations hereunder. 6. This Agreement may be terminated upon ten (10) days written notice by either party to the other of any of the following events of default, only if such events of default shall remain uncured during the aforementioned notice period: (a) an essential precondition to the execution of the Contract cannot be met; or (b) if, in the sole discretion of the EDA, an impasse has been reached in the negotiation or implementation of any material term or condition of this Agreement or the Contract; or 7. If any portion of this Agreement is held invalid by a court of competent jurisdiction, such decision shall not affect the validity of any remaining portion of the Agreement. 8. In the event any covenant contained in this Agreement should be breached by one party and subsequently waived by another party, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other concurrent, previous or subsequent breach. This Agreement may not be amended nor any of its terms modified except by a writing authorized and executed by all parties hereto. 9. Notice or demand or other communication between or among the parties shall be sufficiently given if sent by mail, postage prepaid, return receipt requested or delivered personally: (a) As to the EDA: 445151v1 JAE WA445-15 Lino Lakes Economic Development Authority Lino Lakes City Hall 600 Town Center Pkwy Lino Lakes, MN 55014-1182 Attn: Community Development Director 3