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2 <br />628764v3MU210-262 <br />it will specially assess the Property and any other parcels that will benefit from the Public <br />Improvements for the costs associated with said Public Improvements. <br /> <br /> E. Although public right-of-way already exists over much of the area whereby the <br />Public Improvements will be constructed and installed, there is additional right-of-way that will <br />either be dedicated by the Developer via the plat or acquired by the City through the process of <br />eminent domain. The Developer desires to commit to dedicating such right-of-way and <br />reimbursing the City for all costs associated with acquiring the additional right-of-way necessary <br />for the Public Improvements. <br /> <br /> F. The Developer agrees that the development of the Subdivision Property and the <br />City’s construction and installation of the Public Improvements shall be facilitated and governed <br />in accordance with the terms and conditions of this Agreement. <br /> <br />Agreement <br /> <br /> In consideration of each party’s promises as set forth in this Agreement, it is mutually agreed <br />as follows: <br /> <br />ARTICLE ONE <br />REPRESENTATIONS AND WARRANTIES <br /> <br />1.01. City Representations and Warranties. The City makes the following representations as the basis <br />for the undertakings on its part contained herein: <br /> <br /> A. The City is a municipal corporation under the laws of Minnesota. <br /> <br /> B. The City has the right, power, and authority to execute, deliver, and perform its <br />obligations under this Agreement. <br /> <br />1.02. Developer Representations and Warranties. The Developer makes the following <br />representations as the basis for the undertakings on its part contained herein: <br /> <br /> A. The Developer is fee owner of the Property. <br /> <br /> B. The Developer has the right, power, and authority to execute, deliver, and perform its <br />obligations under this Agreement. The Developer assures the City that the individuals who execute <br />this Agreement on behalf of the persons and entities that are collectively referred to as the Developer <br />are duly authorized to sign on behalf of said persons and entities and legally bind said persons and <br />entities to the term and conditions set forth herein. <br /> <br /> C. The Developer is not in default under any lease, contract, or agreement to which it is <br />a party or by which it is bound which would affect its performance under this Agreement. The <br />Developer is not a party to or bound by any mortgage, lien, lease, agreement, instrument, order, <br />judgment, or decree which would prohibit the execution or performance of this Agreement by the <br />Developer or prohibit any of the transactions provided for in this Agreement.