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thereof or the enforcement of this agreement upon default of the <br />Developer. <br />6. BINDING EFFECT <br />The terms and provisions hereof shall be binding upon <br />and inure to the benefit of the heirs, representatives, successors <br />and assigns of the parties hereto and shall be binding upon all <br />future owners of all or any part of the Subdivision and shall be <br />deemed covenants running with the land. References herein to <br />Developer, if there be more than one, shall mean each and all <br />of them. This agreement, at the option of the City, shall be <br />placed of record so as to give notice hereto to subsequent <br />purchasers and encumbrancers of all or any part of the Subdivision <br />and all recording fees, if any, shall be paid by, the Developer. <br />7. NOTICES <br />Whenever in this agreement it shall be required or <br />permitted that notice or demand be given or served by either <br />party to this agreement to or on the other party, such notice <br />or demand shall be delivered personally or mailed by United <br />States mail to the addresses hereinafter set forth by certified <br />mail (return receipt requested). Such notice or demand shall <br />be deemed timely given when delivered personally or when <br />deposited in the mail in accordance with the above. <br />The addresses of the parties hereto are as follows, <br />I <br />until changed by notice given as above: <br />If to the City at: Mr. Patrick Klaers <br />City Administrator <br />City Office <br />3880 Laverne Avenue North <br />Lake Elmo, Minnesota 55042 <br />-5- <br />