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City of Mounds View <br /> Housing Replacement Program <br /> S <br /> (1) Construction of minimum improvements <br /> (2) Estimated market value of the property and improvements <br /> (3) Purchase price <br /> (4) Completion date <br /> (5) Financial guarantee submitted by the developer with a minimum amount equal to <br /> 100% of the minimum improvement value <br /> (6) Revesting of Title. Subject to unavoidable delays, if the Developer fails to carry <br /> out its obligations with respect to the construction of the Minimum Improvements, the <br /> Authority will have the right to re-enter and take possession of the property. The <br /> Authority at its option may declare a termination in favor of the Authority of the title <br /> and that the title and all rights and interests of the Developer will revert to the <br /> Authority. <br /> Economic Development Authority <br /> By: <br /> EDA President <br /> By: <br /> EDA Executive Director <br /> Revised: July 2007 <br /> • <br /> Page 8 <br />