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CITY OF ST. ANTHONY <br /> • RESOLUTION 06-063 <br /> A RESOLUTION REGARDING AMCON SAINT ANTHONY, LLC AND APPROVING A <br /> CERTIFICATE OF COMPLETION,ACKNOWLEDGING LIQUIDATED DAMAGES AND <br /> APPROVING A DEED <br /> WHEREAS, the City of St. Anthony entered into a development agreement, dated November <br /> 3, 2003 (as subsequently amended, the "Development Agreement"), with Amcon <br /> St. Anthony, LLC ("Amcon") pursuant to which Amcon became obligated to <br /> develop certain property in the City; and <br /> WHEREAS, the City and Amcon entered into a First Amendment to Development Agreement <br /> in September 2005 concerning Amcon's development obligation and the <br /> requirement that Amcon receive a certificate of occupancy by June 1, 2006 for <br /> the restaurant depicted in the Development Agreement; and <br /> WHEREAS, the City and Amcon entered into a Second Amendment to Development <br /> Agreement dated May 26, 2006 ("Second Amendment") extending the June 1, <br /> 2006 deadline to July 5, 2006; and <br /> WHEREAS, the Second Amendment confirmed that in the event Amcon failed to cause a <br /> certificate of occupancy to be issued for the restaurant on or before July 5, 2006, <br /> the restaurant parcel automatically reverted to the City, unless the City, in its sole <br /> discretion, elected in a recorded writing to temporarily waive such reversionary <br /> • right, in which case Amcon is to pay liquidated damages to the City of$1,000 per <br /> calendar day commencing July 6, 2006, until the certificate of occupancy is <br /> issued or until the City elects to exercise its reversionary; and <br /> WHEREAS, Amcon received a certificate of occupancy on July 7, 2006, two days past the <br /> deadline. <br /> NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of St. Anthony hereby: <br /> 1. Waives its reversionary right to the restaurant parcel, and will record an <br /> appropriate writing to that effect, upon receipt from Amcon St. Anthony, LLC of <br /> liquidated damages in the amount of$2000; and <br /> 2. Authorizes execution of the Certificate of Completion and Deed substantially <br /> in the form attached to this Resolution <br /> .Adopted this 25th day of July, 2006. <br /> Mayor <br /> ATTEST: bWX"W( <br /> City Clerk <br /> • Review for Administration: <br /> City Manager <br />