02-12-07 Item 7B, Preliminary Development AGreement for Funding and Guaranty for TCAAP

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Developer provides the City and GSA with collateral (such as a bond or title insurance insuring over such lien) reasonably acceptable to the City and GSA. (d) Evaluate the financial and market feasibility of the undertakings of the Developer as specified in Section 3 of this Agreement. (e) Consider options for public financial assistance as part of the Development, if the Developer is able to demonstrate a need for public financial assistance as determined by the City in its sole discretion, (f) Evaluate the availability of public financing tools related to the Development, and commence any actions necessary to implement any such tools approved by the City Council. (g) Coordinate with Developer in developing an infrastructure plan consistent with the Development plan. (h) Consider and evaluate any requests by Developer to seek special legislation that may be necessary to carry out the Development. (i) Make available to the Developer at the City's offices all environmental reports, studies and information in the possession of the City from time to time. (j) Forward to Developer all communications it receives from or sends to GSA or the Minnesota Pollution Control Agency CMPCA"), (k) Tender its earnest money and Purchase Price (as defined in the Guaranty) as provided in Sections 3,OB and 3.0C of the Guaranty. (I) Perform all of its other obligations under this Agreement. (m) Perform all of its obligations as the Purchaser under the OTP, subject to (i) the performance by Developer of its obligations as provided in Sections 3.0B and 3.0C of the Guaranty and Oi) Section 10 of this Agreement. The cost of all undertakings by the City under this Section shall be payable by the Developer to the extent any such costs are City Reimbursable Costs as defined in Section 5 and subject to reimbursement as provided therein. 6