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Section 3. Nothing contained in this agreement shall in any way obligate <br />either party.to proceed with the redevelopment of the Property or otherwise enter <br />into a Development Agreement. <br />IN WITNESS WHEREOF, the parties have executed this Agreement as of <br />the day and year first above written. <br />MOUNDS VIEW ECONOMIC <br />DEVELOPMENT AUTHORITY <br />Im <br />: <br />STATE OF MINNESOTA) <br />) SS <br />COUNTY OF ) <br />Dan Coughlin <br />ITS PRESIDENT <br />Michael Ulrich <br />ITS EXECUTIVE DIRECTOR <br />The foregoing instrument was acknowledged before me on this _ day of <br />2000, by Dan Coughlin and Michael Ulrich, the President and <br />Executive Director respectively of the Mounds View Economic Development <br />Authority named in the foregoing instrument. <br />Notary Public <br />13 <br />