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05-17-17 JDA Agenda Packet
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05-17-17 JDA Agenda Packet
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<br />1 <br /> <br />AMENDMENT NO. 2 TO PRELIMINARY <br />DEVELOPMENT AGREEMENT <br /> <br /> <br />THIS AMENDMENT NO. 2 TO PRELIMINARY DEVELOPMENT <br />AGREEMENT (“Amendment No. 2”) is made as of the ___ day of May, 2017, by and <br />between the TCAAP JOINT DEVELOPMENT AUTHORITY, a Minnesota joint powers <br />entity (“JDA”) and ALATUS ARDEN HILLS LLC a Minnesota limited liability company <br />(“Developer”). <br />RECITALS: <br />A. The JDA and the Developer are the Parties to that certain Preliminary <br />Development Agreement dated June 6, 2016, as amended by Amendment No. 1 dated <br />October 31, 2016 (the “Agreement”). <br />B. The JDA and the Developer wish to further amend the Agreement to, <br />among other things, reflect changes in certain dates set forth in the Agreement and to <br />agree to certain respective design and civil engineering responsibilities prior to <br />execution by the Parties of the Contract (as defined in the Agreement). <br />NOW THEREFORE, in consideration of the premises and for good and valuable <br />consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties <br />agree as set forth below. <br />AGREEMENT: <br />1. Definitions. Unless otherwise specifically stated herein, all capitalized <br />terms used in this Amendment No. 2 will have the meanings ascribed to them in the <br />Agreement. <br />2. Amendments. <br />(a) In each and every place in the Agreement where the date “February 28, 2017” <br />appears, said date is hereby deleted and the phrase “July 31, 2017, or 75 days following <br />execution by the Governor of Minnesota of the Governor’s concurrence with the Finding of <br />Suitability for Early Transfer regarding an approximately 30 acre portion of the TCAAP Site <br />(“FOSET”) (whichever is later),” substituted therefor. <br />(b) In each and every place in the Agreement where the date “May 31, 2017” <br />appears, said date is hereby deleted and the phrase “December 31, 2017, or 225 days <br />following execution by the Governor of Minnesota of the Governor’s concurrence with the <br />FOSET (whichever is later),” substituted therefor.
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