Laserfiche WebLink
pursuant to this Agreement to reimburse the Developer for certain costs of preparing the <br />Development Property for development; and <br /> <br /> WHEREAS, the Authority believes that the development of the Development Property <br />pursuant to the Developer's proposal, and the fulfillment generally of this Agreement, are in the vital <br />and best interests of the City and the health, safety, morals, and welfare of its residents, and in accord <br />with the public purposes and provisions of the applicable State and local laws and requirements under <br />which the Project has been undertaken and is, therefor, willing to provide the financial assistance <br />outlined herein. <br /> <br /> NOW, THEREFORE, ir consideration of the premises and the mutual obligations of the <br />parties hereto, each of them does hereby covenant and agree with the other as follows: <br /> <br />ARTICLE I. <br /> <br />Definitions <br /> <br /> Section 1.1 <br />the context: <br /> <br />Definitions. In this Agreement, unless a different meaning clearly appears from <br /> <br /> "Agreement" means this Agreement, as the same may be from time to time modified, <br />amended, or supplemented. <br /> <br /> "Authority" means the Economic Development Authority In and For the City of Elk River, <br />or any successor or assign. <br /> <br />"City" means the City of Elk River. <br /> <br /> "Construction Plans" means the plans, specifications, drawings and related documents for the <br />construction work to be performed by the Developer on the Development Property which shall be <br />as detailed as the documents to be submitted to the City in connection with conditional use permit <br />approval for the development of the Minimum Improvements. <br /> <br />"County" means the County of Sherburne. <br /> <br /> "Current Site" means the real property containing the location of Redevelopers business <br />operations as of the date of this agreement (809 Jackson Avenue, Elk River, Minnesota 55330) as <br />described in Schedule A of this Agreement. <br /> <br /> "Developer" means Morrell & Morrell, Inc., or its successors, executors, representatives or <br />assigns, or any future owners of the Development Property. <br /> <br /> "Development Program" means the City's Development Program for the Project, as amended <br />as of the date of this Agreement. <br /> <br />BeckP 548664.1 2 <br /> <br /> <br />