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Friday, Juiy 15, 2005 Agreement, the Redeveloper shall have control of Parcels 1-4,8-1 and 8-2. For pnrposes oftms Section, "control" of a Parcel shall mean that the Parcel is subject to an option, purchase agreement or other contract and is subject to no conditions or contin- gencies except for conditions or contingencies which have expired, have been satisfied or waived or may only be invoked by, or operate for the benefit of, the Redeveloper. (b) The Redeveloper will provide relocation services and benefits to which eligible owners or tenants of the Redevelopment Property may be legally entitled. and will reimburse the City for any costs incurred for relocation services and benefits. The Redeveloper may, in lieu of funding such services and benefits, provide a written waiver by that owner or tenant Such waiver must be in a fonn acceptable to the City, provided that no such waiver shall release the Redeveloper from its obligation to reimburse the City for all claims for relocation benefits and assistance in the event that such waiver shall be determined invalid. The Redeveloper agrees to indemnify and save harmless the City and its officers, agents and employees, and to defend the same, from any claims for relocation benefits and any appeals of relocation benefits relating to Parcels acquired or sought to be acquired by the Redeveloper within the Redevelopment Property. Section 3.2. Request to Condemn; City Decision. If the Redeveloper is unable to meet the deadlines imposed by Section 3. L then the Redeveloper may request the City to acquire such Parcels by eminent domain. The City will authorize the acquisition by emi- nent domain and will in good faith undertake the steps necessary to acquire fee simple title to the portions of the Redevelopment Property to which the request relates (and. if requested. will proceed in accordance with Minnesota Statutes. Sec. 117.042. the "quick take" provision) if. in its sole discretion. it determines that (i) the Redeveloper has made reasonable efforts to acquire the property. (ii) the Redeveloper has offered what appears to be a fair price for the property based on an appraisal. (iii) the Redeveloper has agreed to provide the security set forth in Section 3.3 to cover acquisition and relocation costs. (iv) the conditions set forth in Section 3.4 have been met and (v) the City determines that the requested acquisition will primarily serve a public purpose. Section 3.3. Security and Payment (a) As security for Redeveloper's obligations to cover acquisition and reloca- tion costs of City Parcels acquired by eminent domain, the Redeveloper shall deposit the following amounts with tbe City in the form of cash, letter of credit or other security ac- ceptable to the City: (1) As a precondition to the City's obligation to undeIiake eminent domain proceedings, an initial deposit of ten percent (10%) of the City's estimate of the total acquisition costs for the Parcel, which shall include an estimate of market value and relocation benefits and assistance, attorney's fees and all other professional fees and ser- VIces. 2