07/23/2007 Council Packet (2) - Laserfiche WebLink

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• • • (2) If the City defaults in the performance of one or more of its obligations under this Agreement ( "City Default "), the Developer may terminate this Agreement. The City shall have no further obligations to the Developer if the Agreement is terminated due to a City Default. (3) The Developer or the City may terminate this Agreement at any time at in their sole discretion if either determines that the Project is not feasible. (4) Notwithstanding any other provision of this Agreement to the contrary, this Agreement shall automatically terminate on December 31st, 2007 G. Notices. Notice or demand or other communication between or among the parties shall be sufficiently given if sent by mail, postage prepaid, return receipt requested, faxed or delivered personally: As to the City: As to the Developer: City of Lino Lakes 600 Town Center Parkway Lino Lakes, MN 55014 -1182 Attn: Ms. Mary Divine Greg Anderson Development, LLC 3555 Louisiana Avenue South St. Louis Park, MN 55426 Fax #: (952) 927 -5444 Attn: Mr. David Anderson H. Document Ownership. All documents, studies, illustrations, surveys, analysis, certifications and correspondence prepared by the Developer for the Project ( "Developer information ") shall remain the property of Developer at all times, and shall be strictly prohibited from use by any third parties for the development of the Property. If the Project is terminated by Developer, or developer does not proceed with the Project in its entirety, Developer Information prepared by the Developer may be purchased by the City or its assigns at actual cost. This provision shall survive termination of this agreement. I. No Final Agreement. This Agreement does not constitute a Purchase Agreement. The Developer has no legal rights in the Property by executing this Agreement. The City's obligations under this Agreement are limited to those set forth herein with no other implied obligations. IN WITNESS WHEREOF, the City has caused this Agreement to be duly executed in its name and behalf and the Developer has caused this Agreement to be duly executed as of the day and year first above written. (SIGNATURES APPEAR ON THE FOLLOWING PAGE)