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Lyngblomsten at Lino Lakes Addition <br />Development Agreement <br />July 26, 2021 <br /> page 27 <br />completed will be in accordance with the plans and specifications, or that sufficient <br />funds will be available for completion. The funds placed in escrow shall be maintained in <br />a non-interest bearing account. <br /> <br />10. This Agreement shall be binding upon the parties hereto and their respective successors <br />and assigns. <br /> <br />11. This Agreement can be amended or modified only by a written Amendment, written and <br />signed by all of the parties hereto. <br /> <br />12. Time is of the essence as to each provision of this Agreement. <br /> <br />13. All notices required or permitted under this Agreement shall be (i) delivered to the <br />addresses set forth below, and (ii) mailed, delivered or transmitted by one party to the <br />other(s) and such notice shall be deemed given and effective: upon receipt if personally <br />delivered; upon receipt if sent by telecopy or electronic mail; upon receipt or upon the <br />date of first attempted delivery, if sent by certified or registered mail with postage <br />prepaid, return receipt requested, or if sent by Federal Express or other nationally <br />recognized carrier service; or upon receipt if sent in any other way. Any party hereto <br />may from time to time, by written notice to the other parties, designate a different <br />address which shall be substituted for the one specified below. <br /> <br />Escrow Agent: Commercial Partners Title, LLC <br /> Attn: Nancy Landmark <br /> 200 South Sixth Street, Suite 1300 <br />Minneapolis, MN 55402 <br /> <br />City: City of Lino Lakes <br /> Attn: Michael Grochala <br /> 600 Town Center Parkway <br /> Lino Lakes, Minnesota 55014 <br /> <br />Developer: Lyngblomsten at Lino Lakes, LLC <br />c/o Lyngblomsten <br />Attn: Jeff Heinecke, CEO and President <br /> 1415 Almond Ave. <br />St. Paul, MN 55108 <br /> <br /> With Copy to: Grand Real Estate Advisors, LLC <br /> Attn: Judd Fenlon <br /> 90 Dale St. S. <br /> St. Paul, MN 55102 <br />