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(b) the Applicable Developer has paid to the City the inspection fees established under the City Zoning Code with respect to the work to be performed as a part of that Phase; and the Applicable Developer has provided the City with evidence that the Applicable Developer has obtained all approvals required from the Rice Creek Watershed District or other governmental authority before performing such work. The personal guarantee of an Applicable Developer or its principals shall be deemed adequate security if the guarantor demonstrates to the City a net worth more than five times the amount of the security required. Any personal guarantee provided in lieu of a Letter of Credit shall be in such form as the City requires. Section 3.10 For Sale Demolition Timing. The demolition of the Three Commercial Properties and any demolition of Phase II Development Property shall occur only after the delivery of the applicable Go-Ahead Letter, or earlier upon approval by the Authority. Section 3.11 Street Vacations within the Development Property. The City, in accordance with applicable ordinances and Minnesota statutes, will vacate those portions of 39th Avenue, Apache Lane and any other public right of way located adjacent or within the Development Property as required for the Project, in accordance with the PUD Agreement and the Final Plans. The Applicable Developer shall apply for any such vacation in accordance with the ordinances of the City. The staff of the City and Authority will cooperate with and assist the Applicable Developer in processing and obtaining such vacations. Action on any vacation application shall be taken by the City in a time frame consistent with other approvals of that Element or Phase and consistent with the timing of the Public Improvements. Section 3.12 City/Authority Approval. Whenever this Agreement provides for approval by the Authority or the City, such approval shall be given by the Executive Director of the Authority or the City Manager of the City(or in either case his/her designee), unless (a) this Agreement explicitly provides for approval by the Board of the Authority or the City Council of the City, (b) approval by the Board or Council is required by law or (c)the approval, in the opinion of the Executive Director or City Manager, would result in a material change in the terms of this Agreement. ARTICLE IV AUTHORITY AND DEVELOPER'S ACQUISITION OF THE DEVELOPMENT PROPERTY Section 4.1 Private Acquisition of Development Proverty. (a) Ste Marie Property and Cub Parcel. The Commercial Developer and Developer have entered into, as regards the Ste. Marie Property, or will enter into purchase agreements for certain other portions of the Development Property and certain property outside the Project to extinguish the Cub Restrictions that burden the Development Property, including the Cub Parcel and SuperValu Leasehold Rights. (i) The Authority has approved the purchase agreement with respect to the Ste. Marie Property, which the Developer has entered into prior to the date of entry into this Agreement, and which Developer has or will acquire privately. The Developer(or 23