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<br /> <br /> <br />NOW, therefore, for good and valuable consideration, the receipt and sufficiency of which <br />are acknowledge, the Parties agree as follows: <br /> <br />ARTICLE ONE <br />CONSTRUCTION OF IMPROVEMENTS <br /> <br />1.01Prerequisites to Construction of Improvements. Before commencing construction of the <br />Improvements, the Developer must satisfy all of the following conditions precedent: <br />a) Developer has provided proof that Developer is the fee owner of the Property and that <br />that no other parties have an interest in the Property other than those that have been <br />disclosed to and accepted by the City; <br />b) This Agreement has been executed by the Developer and the City and recorded with <br />Ramsey County; <br />c) The Developer has received all required land use approvals and other permits from the <br />City (the “City Approvals”); <br />d) The Developer has received City approval of all Approved Plans as set forth in Section <br />1.02 herein; <br />e) Developer has paid all outstanding fees to the City; <br />f) The City has received the required Construction Security (as defined in Section 4.01) <br />and Cost Escrow (as defined in Section 4.02) from or on behalf of the Developer; <br />g) Developer has submitted final engineering and construction plans in digital (required) <br />and hard copy (if requested) format for the Improvements and has received approval <br />by the City Engineer (the “Approved Plans” as defined in Section 1.02); <br />h) Developer or Developer’s representative has initiated and attended a preconstruction <br />meeting with the City Engineer and other City staff; <br />i) The Developer has submitted to the City, $3,678 in Engineering Coordination fees for <br />Construction Observation as described in Section 2.03; and <br />j) The City has issued a Notice to Proceed and all conditions precedent have been <br />satisfied. <br /> <br />1.02 Approved Plans. The Property shall be developed in accordance with the following plans, <br />specifications and other documents and approved by the City Engineer (together the “Approved <br />Plans”). These documents may be prepared after the Parties have entered into this Agreement, <br />provided however, no work shall be commenced on the Property until all of the documents have <br />2 <br />22485\\13\\2777004.v3 <br /> <br />