pf_01483 - Laserfiche WebLink

Home

(a) Fail to begin construction of the Minimum Improvements (as defined in the Agreement) in conformity with the Agreement and such failure is not cured within thirty (30) days after written notice from the Grantor to the Grantee to do so; or (b) Fail to carry out its obligations with respect to the construction of the Minimum Improvements (as defined in the Agreement), or shall abandon or substantially suspend construction work, ,and any failure, abandonment or suspension shall not be cured, ended or remedied within thirty (30) days after written demand from the Grantor to the Grantee to do so; or (c) Fail to comply with any of its covenants under the Agreement and fail to cure any such noncompliance or breach within thirty (30) days after written demand from the Grantor to the Grantee to do so; or then the Grantor shall have the right to re-enter and take possession of the Property and �o terminate and revest in the Grantor the estate conveyed by this Deed to the Grantee, its 40 assigns or successors, in interest, but only if the events stated in Section 2 have not been cured within the time periods provided above. Provided, that the right of the Grantor to re-enter and take possession of the Property shall not defeat the lien of any mortgage granted by Grantee to secure financing to construct the improvements to be erected thereon. Provided, further, that the Grantee shall have the option of purchasing all of Grantor's remaining rights and interests in the property conveyed by this Deed by paying to the City an amount equal to all of the City's costs incurred in connection with the activities contemplated by the Agreement and this Deed. IN WITNESS WHEREOF, the Grant has caused this Deedto be duly executed in its behalf this i day of t , 19d4. THE CITY OF ROSEVILLE, MINNESOTA By