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f04! 1 I` • <br />AMENDMENT <br />BETWEEN OF ANTHONY <br />WHEREAS, the City Council and Amcon St. Anthony, LLC mcon") entered <br />into a Development Agreement dated November 3, 2003, for the <br />area known as St. Anthony Marketplace (the "Development <br />Agreement"); and <br />WHEREAS, the Development Agreement obligated Amcon to construct a 6000 <br />square foot restaurant on a particular out lot with a lease <br />commencement date not later than September 1, 2004; and <br />WHEREAS, in June 2005, Amcon requested an amendment to the Development <br />Agreement changing and reducing the 6000 square foot restaurant <br />on the out lot to a 4500 square foot retail center, and a payment of <br />$150,000 in lieu of lost future property tax revenue, which request <br />was denied by the City Council; and <br />WHEREAS, on August 16, 2005, Amcon presented the planning commission a <br />plan with a 4500 square foot restaurant on the out lot instead of <br />the proposed 6000 square foot restaurant; and <br />WHEREAS, construction of the restaurant is proposed to commence late <br />summer/ early fall 2005; and <br />WHEREAS, the developer will compensate the City of t®nthon$50,000 <br />y <br />upon execution of the amendment of the developers agreement; <br />and <br />'IT!'MEREAS, the building is to be completed and have a certificate of occupanr% <br />by June 1, 2006, or the city has recapture rights of the property. I <br />THEREFORE, <br />R t <br />amendment to the Development Agreement with Amcon 1 allow <br />for a 1square restaurant on out lot <br />W <br />