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loans, subsidies, grants, interest rate subsidies, or assistance in any form to <br />developments consisting of buildings and ancillary facilities, if more than 15 percent <br />of the buildings and facilities (determined on the basis of square footage) are used <br />for a purpose other than: <br /> <br />The manufacturing or production of tangible personal property, including <br />processing resulting in the change in condition of the property; <br />warehousing, storage, and distribution of tangible personal property, excluding <br />retail sales; <br />research and development related to the activities listed in clause (1) or (2); <br />telemarketing if that activity is the exclusive use of the property; <br />tourism facilities; or <br />space necessary.for and related to the activities listed m clause (1) to (5). <br /> <br /> In the event that all of the above conditions precedent have not been satisfied, or waived in <br />writing by the Authority, by December 31, 1998, either party hereto may terminate this Agreement <br />upon the giving of 10 days written notice to the other party of its intention to do. Upon such <br />termination, neither the Authority nor the Developer shall have any obligation or liability to the other <br />hereunder; provided, that the Authority and the Developer shall execute a recordable instrument <br />canceling this Agreement. <br /> <br /> Section 3.5 Conditions Precedent to Reimbursement Under the Note. The Authority's <br />obligation to reimburse the Developer under the Note for its payment of the Public Development <br />Costs described in Section 3.2 shall be subject to satisfaction of all of the following conditions <br />precedent: <br /> <br />(a) <br /> <br />(b) <br /> <br />(c) <br /> <br />(d) <br /> <br />Issue <br /> <br />Complete demolition and removal of <br />existing buildings on Current Site <br /> <br />Discontinuation of all activities <br />associated with trucking on the <br />Current Site <br /> <br />Discontinuation of all secondary <br />business uses on the Current Site, i.e. <br />wood sales, recycling activities, etc. <br /> <br />Minnesota Pollution Control Agency <br />to issue a letter of compliance <br />indicating their satisfaction as to the <br />environmental state of the Current Site <br /> <br />Date of Completion of Activity <br /> <br />BeckP 548664.1 7 <br /> <br /> <br />