2021-09-22 CC Packet - Laserfiche WebLink

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Administrator shall issue the notice to proceed within two(2) business days after receipt and acceptance of the Security. 4.TRANSFER OF DEVELOPMENT.The conditions contained in this Agreement apply tothe Land during all phases of this development.The Developer intends to sell the Land. To the extent the Developer intends to transfer its obligations as a Developer to the Buyer of the Land, the Developer shall sell the Land in such as manner as to condition the sale upon regulation of the development of the Land subject to this Agreementandthe applicable law.The Developer shall require theBuyer tocontract with the City toabide byobligations to the City regarding the development of theLand.These obligations shall include but are not limited to requiring the Buyer to enter into aseparateDevelopment Agreement with the City requiring site plan and development review, and setting forth time of performance,development fees, and the placement of Security with the City.While the Developer may assign its obligations to the Buyer, the Developer will remain primarily liable for its obligations under this Agreement and the applicable law regarding the development of theLand. 5.CHANGES IN OFFICIAL CONTROLS.For two (2) years from the dateof this or affect the use, development density, lot size, lot layout or dedications of the approvedFinalPlat unless required by state or federal law or agreed to in writing by the City and the Developer. Thereafter, notwithstanding anything in this Agreement to the contrary, to the full extent permitted Plan, official controls, platting,or dedication requirements enacted after the date of this Agreement. Version 09/17/2021 Page 4