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<br />{00149157 12} 4. <br /> <br />Developer-U.S. Home Corporation and any successors or assigns, or any future <br />landowner of undeveloped property within the Developer’s Property. <br /> <br />Financial Guarantee-A letter of credit, cash escrow, or other guarantee acceptable to the <br />City that serves as an assurance of completion of the required improvements. <br /> <br />Master Development Agreement-this document, which serves as the basis and reference <br />for development requirements associated with subsequent final plats and Subdivision <br />Agreements. <br /> <br />Owner- Mattamy Minneapolis LLC, a Delaware limited liability company, and any <br />successors or assigns, or any future landowner of undeveloped property within the <br />Owner’s Property. <br /> <br />Parks and Open Space-the land identified on Exhibit D, page 11, Parks and Open Space <br />Plan, of this Agreement and that land subject to the provisions of the Restoration and <br />Management Plan. <br /> <br />Petition and Waiver Agreement-an agreement with the City which petitions the City for <br />certain improvements and waives the right to the assessment process stated in M.S. <br />Statute 429. <br /> <br />Plans-consists of all documents listed in Exhibit B of this Master Development <br />Agreement. <br /> <br />Property-the Owner’s Property and the Developer’s Property, legally defined in Exhibit <br />A-1 and A-2, respectively, of this Master Development Agreement, which shall be <br />amended with each phase of development. <br /> <br />Restoration and Management Plan a separate document intended to provide for the <br />establishment and ongoing management of actively managed private park and open space <br />areas. <br /> <br /> <br />Article III Representations and Warranties <br /> <br />3.1 Representations by City <br /> <br />The City makes the following representations as the basis for the undertakings on its part <br />contained herein: <br /> <br />a. The City is a municipal corporation organized under the laws of Minnesota. <br /> <br />b. The City has the authority to execute, deliver and perform its obligations under <br />this Master Agreement.