2022 05-17 CC PACKET - Laserfiche WebLink

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and :DEVELOPER.:acknowledge that the berie£it from the improvements equal or exceed the amount of the special assessments. 16.3 NO THIRD -PARTY RECOURSE. Third parties shall have no recourse against the CITY under this. DEVEWPMENT CONTRACT. 16.4 VALIDITY. If any portion, section, subsection, sentence, clause, paragraph, or phrase of this DEVELOPMENT CONTRACT is -for any reason held* to* be invalid, such decision shall not affect the validity of the.remaining portion of this DEVELOPMLNT CONTRACT. 16.5 RECOIRDING..The DEVELOPMENT CONTRACT and CUP shall be recorded with the COUNTY Recorder grid tbe-OWNER, and DEVELOPER shall provide and execute.any and.all documents necessary to implement the recording. 16.6 BINDING,.AGREEMENT. The parties mutually -recognize and agree that all terms and conditions of -this -recordable DEVELOPMENT CONTRACT -$MI. Mn with the land in. the CUP, and.shall be binding upon the successors iwd assigns of tha.OWNERand DEVELOPER. This DEVELOPMENT CONTP kCT shall also run.with and. be bindiq.upoir any after acquired i nterest of the OWN9R. andDEVEL.OPER hi the land made the subjr;et of the CUP. 16.7 CONTRACT ASSIGNMENT. The .DEVELOPER may not assign this DEVELOPMENT CONTRACT without the written permission ofthe COUNCIL, which approval wHl not be unreasonably withheld. In such case, the third-parrty buyer will be required to accept and assume all contractual.. and financial responsibilities provided in this DEVELOPMENT CONTRACT. Upon acoeptance and. assumpooh.of such requirements by. such thir&party buyer, i the DEVELOIPER`9- obligations. hereunder shalt terminate,, Absent approval of the Council, the DEVELOPS 's: obligations hereunder shall. continue iiii frill force and effect;. even if the. DEVELOPER sells one or:more lots, the entire CUP, or any part of -'it 16:8 AMENDMENT AND WAIVER. The parties hereto may by mutual written. .agreement amend this .DEVELOPMENT CONTRACT in any respect. Any party hereto may extend the time for the performance of any of the obligations of another, waive any inaccuracies. in represontations by another contained in. this DEVELOPMENT CONTRACT :or in any document dejsyered _pmuotit heret.Q which. -inaccuracies would otherwise constitute a breach of this DEVELOPMENT CONTRACT, Waive compliance by another with any of the covenants contained in this DEyELOPMI W.' CONTRACT,. waive -.performance. of any obligations by the other or waive.the fulfilimerit-of..anyeonditiori that is precodent to the performanee by the plwy.w waiving of any of its obligations under, this DEVELOPMENT CONTRACT. Any, agreement on the part of any party for any such amendment, extension., or waiver must. be hi wriiing.'No waiver of any of the provisions of this DEVELOPMENT CONTRACT shall 'be deemed,. or shall constitute, a waiver of any other provisions, whether orfiot.similar, nor shall any waiver eonsdttita A continuing waiver. 1.6:9 GOVERNING LAV4r� This DEVELOPMENT CONTRACT shall be governed by and construed in acoordance with.the]aws of the State of Minnesota. 18