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feasibility of the MetroPlains Project or providing tax increment projections, and <br /> • engineering fees related to advising on or examining present public infrastructures in the <br /> downtown area relative to (or respecting future improvements necessitated by) the <br /> MetroPlains Project. When the HRA/City draws against these funds from time to time, it <br /> shall promptly provide MetroPlains with a copy of the actual billing involved. Within 60 <br /> days of the end of the Term, the HRA will give MetroPlains a final accounting of this <br /> deposit and will return any funds which are not needed to pay or reimburse for such <br /> eligible expenses. MetroPlains shall not be required to pay more than $15,000 pursuant <br /> to this subparagraph, even if the total of eligible HRA/City expenses exceeds that <br /> amount. The existence of this funding and utilization thereof by the HRA/City shall in no <br /> way compromise the judgment or discretion of the HRA/City as to the acceptability of <br /> the MetroPlains Project or the proposed provisions of a Redevelopment Agreement. <br /> 3. Miscellaneous. This Agreement shall be governed by the laws of the State of <br /> Minnesota and may be executed in any number of counterparts, each of which shall constitute an <br /> original hereof and all of which shall constitute one in the same instrument. It is understood and <br /> agreed that MetroPlains may form one or more separate entities to proceed with one or another <br /> of the individual phases of the final MetroPlains Project; similarly, it is understood that aspects <br /> of the final implementation of any Redevelopment Agreements, or any one or more of such <br /> agreements themselves, may in the end be executed in the name of the City. This Agreement <br /> amends and restates that certain Preliminary Redevelopment Agreement, dated as of October 28, <br /> 2002, essentially to extend the expiration date in paragraph 2(a) above from May 1, 2003, to <br /> November 1, 2003. <br /> • IN WITNESS WHEREOF, the HRA and MetroPlains have executed this Agreement by <br /> their duly authorized representatives as of the date first above written. <br /> HOUSING AND REDEVELOPMENT AUTHORITY <br /> IN AND FOR THE CITY OF ELK RIVER, MINNESOTA <br /> By <br /> Its Board Chair <br /> By <br /> Its Executive Director <br /> METROPLAINS DEVELOPMENT, LLC <br /> By <br /> • Its <br /> 1457233v4 3 <br />