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l <br />B. After review of the bids b� the parties, the City will award a�ontract for the <br />const��ction of the Project, provid�d that In�and Shoppes and Inland Cub <br />agree, in advance, to t�e bid v�hich would be accepted b� the City. <br />�. If afier revieWing the bids, all of the parties to this Agreeme�t do not decide <br />to proceed witl� the construction of the Pr�ject, �hen, upfln written notice to <br />the ot�er parties, this Agr�ement shall be null a�d void and Inland Shoppes <br />and Inland Cub shall l�a�e no further obl�gation to th� City. <br />�. If a�ter the review of the bids, t�e parties decide to �roceed wit� t�e Project, <br />the City vvill awa�d the contract for the construction of the �roject. <br />�E. �Jpon �ompletion o�the �'roject, Inland Sh�ppes and In�and Cub vvill pay �or a <br />con�bined one-half �1/2� of the Project cost, or, in the alternative, Inland <br />Shop�es �n� In�and Cub may request the City to specially assess s�ch cost <br />agair�st the Cub Proper�y and Shoppes Prop�rty. Th� City, unl�ss otherwise <br />advised in vvritir�g by Inland Shoppes and Inland Cub, wi�l speciall� assess <br />one-fourth {1/4� of the Project cost against t�e �l�oppes Property and one- <br />fourth �1/4� of the Project cost against the Cub �'roperty. The special <br />assessm�nt sha�l be payable o�er a maximum flf thre� (3j years and at an <br />interest rate determ�ned by the City's Special Assessment Resolution, which <br />interest rat� shall not exceed %. <br />4,0 Acknowledgment and iNaiver, In�and Shoppes and Inland Cub eac� acknowledge <br />that their respective parce�s will re�eive a special benefit equal to the proposed <br />special assessment as a result of the constr�ction of the Project and, waive tl�eir <br />rights under the provisions of Minn. Stat. §429, including, but not limited to, the <br />notice and public hearing provisions of M�nn. Stat. §429.031 and Minn. Stat. <br />§429.Ob1; and the appea� provisions of 1Vlinn. Stat. §429.081. <br />5.0 Legal Document. This Agreement is legally binding on the parties and �nland h�s <br />consulted vvith, or had ar� op�ortunity to consult w�th �ts legal counsel before <br />sig�in� the Agreement, <br />3 <br />