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Last modified
2/16/2024 3:30:14 PM
Creation date
2/16/2024 12:26:49 PM
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Planning Files
Planning Files - Planning File #
1481
Planning Files - Type
Planning-Other
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Property or such part thereof then to be conveyed, has been <br />placed of record. This provision, however, shall in no way <br />prevent the Grantee from mortgaging this Property in order to <br />obtain funds for the purchase of the Property hereby conveyed and <br />for erecting improvements thereon in conformity with the <br />Agreement, any applicable redevelopment plan and applicable <br />provisions of the zoning ordinance of the City of Roseville, <br />Minnesota. <br />It is specifically agreed that the Grantee shall <br />promptly begin and diligeoitly prosecute to completion the <br />redevelopment of the Property through the construction of the <br />improvements thereon; as provided in the Agreement. <br />Promptly after completion of the improvements in <br />accordance with the provisions of the Agreement, the Grantor will furnish the Grantee with an appropriate instrument so <br />certifying. Such certification by the Grantor shall be (and it <br />shall be so provided in the certification itself) a conclusive <br />determination of satisfaction and termination of the agreements <br />and covenants of the Agreement and of this Deed with respect to <br />the obligation of the Grantee, and its successors and assigns, to <br />construct the improvements and the dates for the beginning and <br />completion thereof. Such certification and such determination <br />shall not constitute evidence of compliance with or satisfaction <br />of any obligation of the Grantee to any holder of a mortgage, or <br />any insurer of a mortgage, securing money loaned to finance the <br />purchase of the Property hereby conveyed or the improvements, or <br />any part thereof. <br />All certifications provided for herein shall be in such <br />form as will enable them to be recorded with the County Recorder, <br />or Registrar of Titles, Ramsey County, Minnesota. If the Grantor <br />shall refuse or fail to provide any such certification in <br />accordance with the provisions of the Agreement and this Deed, <br />the Grantor shall, within thirty (30) days after written request <br />by the Grantee, provide the Grantee with a written statement <br />indicating in adequate detail in what respects the Grantee has <br />failed to complete the improvements in accordance with the <br />provisions of the Agreement or is otherwise in default, and what <br />measures or acts it will be necessary, in the opinion of the <br />Grantor, for the Grantee to -take or perform in order to obtain <br />such certification. <br />SECTION 2. <br />In the event the Grantee herein shall, prier to the <br />recording of the certificate of completion hereinabove referred <br />to: <br />
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