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DRAFT <br /> 4.15.2004 <br /> iand every provision of the City's subdivision, zoning, and other related municipal code <br /> regulations. <br /> E. There is no suit, action, arbitration or legal, administrative or other proceeding or <br /> governmental investigation pending or threatened against or affecting the Developer or Property. <br /> The Developer is not in default with respect to any order, writ, injunction or decree of any federal, <br /> p <br /> state, local or foreign court,department, agency or instrumentality. <br /> F. None of the representations and warranties made by the Developer or made in any <br /> exhibit hereto or memorandum or writing furnished or to be furnished by the Developer or on its <br /> behalf contains or will contain any untrue statement of material fact or omits any material fact, the <br /> omission of which would be misleading. <br /> G. The Developer has sufficient funds or has obtained a commitment for financing in <br /> an amount adequate to finance construction of the Improvements. <br /> 1.03 Incorporation of Recitals and Exhibits. The Recitals set forth in the preamble to this <br /> Agreement and the Exhibits attached to this Agreement are incorporated into this Agreement as if <br /> fully set forth herein. <br /> 411 ARTICLE TWO <br /> PETITION AND WAIVER/CONSTRUCTION OF IMPROVEMENTS <br /> 2.01. Petition and Waiver for Improvements. <br /> A. The Developer hereby petitions the City for construction of the Improvements. <br /> B. The Developer represents and warrants that it is the fee owner of or controls via a <br /> purchase agreement 100 percent of the Property, that it has full legal power and authority to <br /> encumber the Property as herein provided, and that as of the date hereof, it has fee simple absolute <br /> title in the Property, which is not subject to any liens, interests or encumbrances, except as listed on <br /> the attached Exhibit C. <br /> C. The Developer requests that 100 percent of the cost of the Improvements be assessed <br /> against the Property. The Developer understands and agrees that the current estimated cost of the <br /> Improvements is $308,700, but that the cost of the Improvement will be determined in accordance <br /> with Minn. Stat., Chapter 429 and standard city practices and that such cost may exceed the <br /> estimated cost. The Developer further understands and agrees that the City does not waive any <br /> rights to levy special assessments against the Property in an amount in excess of the estimated cost <br /> in the event actual project costs which may lawfully be assessed pursuant to Minn. Stat., <br /> Chapter 429, exceed said amount. <br /> III <br /> SJR-245249v4 <br /> MU205-29 <br /> E-3 <br />