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an amount adequate to finance construction of the Improvements and has obtained a commitment <br /> from Carn ike Cinemas, Inc. ("Tenant") in an amount adequate to finance construction of the <br /> Improvements. <br /> ARTICLE TWO <br /> CONSTRUCTION OF IMPROVEMENTS <br /> 2.01. Agreement to Construct Improvements. The Developer agrees to construct the <br /> Improvements, including the street, grading, drainage, landscaping and other public improvements <br /> required by City ordinance for development of the Property. The Improvements are more fully <br /> described in the plans and specifications approved by the City, which are entitled O'Neil property <br /> PUD Plan, prepared by Sunde Engineering, Artech Design Group, Inc. and Boarman Kroos Pfister <br /> Vogel and Associates and are date-stamped May 11, 1998 (the "Plans"). A final copy of the Plans <br /> must be filed with the City prior to commencement of construction of the Improvements. All labor <br /> and work performed by the Developer in connection with construction of the Improvements will be <br /> done and performed in the best and most worker-like manner and in strict conformance with the <br /> Plans. Any deviation from the Plans must be approved in writing by the City. Construction of the <br /> Improvements shall be completed no later than one year from the issuance of the Building Permits <br /> required herein. <br /> 2.02. Obtaining Permits. The Developer shall obtain in a timely manner and pay for all permits, <br /> licenses, and approvals required in connection with construction of the Improvements. The <br /> Developer shall meet in a timely manner the requirements of all applicable local, state, and federal <br /> laws and regulations which must be met before the Improvements may be lawfully constructed. <br /> Specifically, prior to obtaining any building permits or grading permits as required under this <br /> Section 2.02 or otherwise,the Developer shall complete the following requirements: <br /> A. The City shall obtain permit approval from the Minnesota Department of <br /> Transportation (MNDOT) for the construction of deceleration/acceleration lanes <br /> onto Trunk Highway 10, the construction of two access drives to the property, and <br /> for any regrading within the MNDOT right-of-way. The City shall work with <br /> MNDOT concerning the construction of the relocation and realignment of <br /> Edgewood Drive, median and turn lane work on Highway 10, signal construction, <br /> and other improvements to provide access to the site as approved in the letter dated <br /> May 11, 1998. The City will use its best faith efforts to complete the intersection in <br /> a timely manner. <br /> B. The Developer shall enter into the Agreement with the City. Developer reserves the <br /> right to approve plans and specs for construction of improvements provided for in <br /> Section 2.02A of this Agreement. Surety will need to be provided in an amount to <br /> be determined by the Director of Community Development for construction of the <br /> Highway 10 and Ramsey County right-of-way improvements unless either MNDOT <br /> or Ramsey County requires such surety as.a part of their respective agency permits. <br /> This Agreement shall be executed prior to the issuance of building permits. <br /> C. The Developer shall obtain permit approval from the Rice Creek Watershed District <br /> for drainage or ponding. <br /> SJR-149487 3 <br /> MU210-8 <br />