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that-Redeveloper, and such successors and.assigns, shall devote (a)," If Redeveloper does not submit to the Agency a .
<br /> the Redevelopment Property to, and only to and in- accordance commitmerit for Mortgage financing for the Minimum Improvements
<br /> with, the uses specified in the Redevelopment Plan and this to be'constructed on Phase I', which is acceptable to the.
<br /> Agreement, and shall not discriminate upon the basis of race, Agency;•by a _date 120 days after the date hereof.--
<br /> color, creed, sex or national origin in the sale, lease, or
<br /> rental or in the use or occupancy of the Redevelopment Property (b) If Redeveloper does not submit to the Agency a
<br /> or any improvements erected or to be erected thereon, or any commitment for Mortgage-"financing for- the Minimum Improvements
<br /> part thereof. to be constructed on Phases II and ,III, which is acceptable to
<br /> the Agency, by the date specified in the Time Table.
<br /> Section 10.4 Provisions Not Merged with Deed. None
<br /> of-the provisions of this Agreement are intended to or shall be (c) If .the Agency does not acquire title to the
<br /> merged by reason of any Deed and any such Deed shall not be Redevelopment Property pursuant to the Time Table.
<br /> deemed to affect or impair the provisions and covenants of this
<br /> Agreement. (d) If the Agency does not convey title and
<br /> possession of the Redevelopment Property to the Redeveloper
<br /> Section 10.5 Titles of Articles and Sections. Any pursuant to the Time Table.
<br /> titles of the several parts, Articles, and Sections of this
<br /> Agreement are inserted for convenience of reference only and (e) If the Redeveloper gives written notice to the
<br /> shall be disregarded in construing or interpreting any of its Agency within 30, days after the date of this Agreement that
<br /> provisions. soil conditions on any of the Redevelopment Property are so
<br /> adverse as to substantially affect the economic feasibility of
<br /> Section 10.6 Notices and Demands. Except as construction of the Minimum Improvements, such notice is to be
<br /> otherwise expressly provided in this Agreement, a notice, accompanied by evidence of such adverse soil conditions
<br /> demand, or other communication under this-Agreement by either reasonably satisfactory to the Agency.
<br /> party to the other shall be sufficiently given or delivered if
<br /> it is dispatched by registered or certified mail, postage Termination of this Agreement due to the occurrence of
<br /> prepaid, return receipt requested, or delivered personally; and any of the foregoing must be accomplished by written
<br /> notification to the other party of the intention to terminate,
<br /> (a) in the case of Redeveloper.; addressed to or and the party giving such notice shall then have the right to
<br /> delivered personally to Redeveloper % The Arkell Development terminate by a second written notice given within 30 days after
<br /> Corporation, 2680 North Oxford, No. 126, Roseville, Minnesota the first notice if such-condition has not been met prior.to
<br /> 55113,.with a copy to Kraus-Anderson Realty Company, 523 South expiration of the 30-day period.
<br /> 8th Street, Minneapolis, Minnesota 55404.
<br /> If this Agreement is terminated pursuant to item•(a)
<br /> (b) in the case of the Agency, addressed or delivered of this Section, the Agency may draw upon the First Letter of.
<br /> personally to the Agency's Executive Director,-3301 Silver Lake Credit and may retain the full'amount' thereof 'as'liquidated
<br /> Road, St. Anthony, Minnesota 55418, or at such other address damages. If this Agreement is terminated pursuant to item (b)
<br /> with respect to either such party as that party may, from time • of this Section, it shall be deemed terminated only with
<br /> to time, designate in writing and forward to .the other as respect to Phases II and III, and the Agency may draw upon all
<br /> provided in this Section. Letters of Credit held by it and retain the full amount thereof
<br /> as liquidated damages for Redeveloper's obligations but
<br /> Section 10.7. Counterparts. This Agreement is Redeveloper shall remain liable for any amounts owing to'the
<br /> executed in any number -of counterparts, each of-which shall Agency; or thereafter accruing, with respect to Phase I and
<br /> constitute one and the 'same instrument. with respect'-to the tax increment guarantee set forth in
<br /> Section 6.1 hereof. If this Agreement is terminated pursuant
<br /> Section 10.8. Termination. This Agreement may be to items (c)y (d) or^(e)•of this Section in connection with
<br /> terminated by either Redeveloper or the Agency upon the Phase• f--ihe'Letters of CYedit. shall be returned to.Redeveloper
<br /> occurrence of any of the following: if it is not in default hereunder, and neither party shall have
<br /> any further rights or obligations under this Agreement. If
<br /> termination pursuant to item (c) or (d) is in connection with
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