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2015_0817_CCpacket
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2015_0817_CCpacket
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Attachment A <br />mortgage, or any insurer of a mortgage, securing money loaned to finance the purchase of the <br />Property hereby conveyed or the Minimum Improvements, or any part thereof. <br />All certifications provided for herein shall be in such form as will enable them to be <br />recorded with the County Recorder and/or Registrar of Titles, Ramsey County, Minnesota. If the <br />Grantor shall refuse or fail to provide any such certification in accordance with the provisions of <br />the Agreement and this Deed, the Grantor shall, within thirty (30) days after written request by the <br />Grantee, provide the Grantee with a written statement indicating in adequate detail in what <br />respects the Grantee has failed to complete the Minimum Improvements in accordance with the <br />provisions of the Agreement or is otherwise in default, and what measures or acts it will be <br />necessary, in the opinion of the Grantor, for the Grantee to take or perform in order to obtain such <br />certification. <br />SECTION 2. <br />The Grantee's rights and interest in the Property are subject to the terms and conditions of <br />Section 9.3 of the Agreement relating to the Grantor's right to re-enter and revest in Grantor title to <br />the Property under conditions specified therein, including but not limited to termination of such <br />right upon issuance of a Certificate of Completion as defined in the Agreement. Notwithstanding <br />the foregoing, this right shall terminate as to any portion of the Property upon its sale to a new <br />buyer after improvement by a portion of the Minimum Improvements on which a Certificate of <br />Completion has been issued, or following sale by a Holder approved by the City, each of the above <br />terms, as deiined in the Agreement <br />SECTION 3. <br />The Grantee agrees for itself and its successors and assigns to or of the Property or any part <br />thereof, hereinbefare described, that the Grantee and such successors and assigns shall comply <br />with all provisions of the Agreement that relate to the Property or use thereof for the periods <br />specified in the Agreement, including without limitation the covenant set forth in Section 10.3 <br />thereof. <br />It is intended and agreed that the above and foregoing agreements and covenants shall be <br />covenants running with the land for the respective terms herein provided, and that they shall, in <br />any event, and without regard to technical classification or designation, legal or otherwise, and <br />except only as otherwise specifically provided in this Deed, be binding, to the fullest extent <br />permitted by law and equity for the benefit and in favor of, and enforceable by, the Grantor against <br />the Grantee, its successors and assigns, and every successor in interest to the Property, or any part <br />thereof or any interest therein, and any party in possession or occupancy of the Property or any part <br />thereof. <br />In amplification, and not in restriction of, the provisions of the preceding section, it is <br />intended and agreed that the Grantor shall be deemed a beneficiary of the agreements and <br />covenants provided herein, both far and in its own right, and also for the purposes of protecting the <br />interest of the community and the other parties, public or private, in whose favor or for whose <br />benefit these agreements and covenants have been provided. Such agreements and covenants shall <br />run in favor of the Grantor without regard to whether the Grantor has at any time been, remains, or <br />B-2 <br />7174856v3 <br />
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