Laserfiche WebLink
RJV-184370v2 <br />MU210-48 2 <br />ARTICLE I. <br /> <br />DEFINITIONS, EXHIBITS, RULES OF INTERPRETATION <br /> <br /> Section 1.1. Definitions. In this Agreement, the following terms have the meaning given <br />below unless the context clearly requires otherwise: <br /> <br /> (a) City. City of Mounds View, Minnesota. <br /> <br />(b) Development Plans. Collectively, the plans, drawings and related documents <br />related to the Improvements. <br /> <br />(c) Developer. Meridian Properties Redevelopment, LLC, d/b/a TOLD Development <br />Company, a Minnesota limited liability company. <br /> <br /> (d) Development. The Property and the Improvements to be constructed thereon <br />according to the Development Plans approved by the City. <br /> <br /> (e) Improvements. A Walgreens retail store, a restaurant, and all certain accessory <br />structures, landscaping, and site improvements constructed on Parcels A and B by <br />the Developer, as specified herein and in the Development Plans approved by the <br />City. <br /> <br /> (f) Minimum Value. $____________ which represents the expected minimum <br />appraised value of the Development after the Developer has constructed the <br />Improvements. <br /> <br /> (g) Permitted Encumbrances. Permitted Encumbrances shall include the following <br />items: (i) taxes and installments of special assessments payable in 2000 and in <br />subsequent years; (ii) building and zoning laws, and federal, state and local laws, <br />ordinances and regulations; (iii) easements for public streets, drainage, utilities, <br />highways and roads existing now and at closing; (iv) liens, easements, <br />encumbrances, agreements, restrictions, conditions and covenants of record, if <br />any, as of the date hereof; and (v) the terms, conditions, covenants and agreements <br />set forth in this Agreement. <br /> <br /> (h) Property. The real property located in Mounds View, Minnesota, and identified <br />herein as Parcel A and B as the context may require. <br /> <br /> (i) Unavoidable Delays. Delays which are the direct result of strikes, labor troubles, <br />fire or other casualty to the Improvements, litigation commenced by third parties <br />which results in delays or acts of any federal, state or local government, except <br />those contemplated by this Agreement, which are beyond the control of the <br />Developer. <br /> <br />Section 1.2. Exhibits. The following Exhibits are attached to and by reference made a <br />part of this Agreement: