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to analyzing the feasibility of the MetroPlains Project or providing tax increment <br /> • projections, and engineering fees related to advising on or examining present public <br /> infrastructures in the downtown area relative to (or respecting future improvements <br /> necessitated by) the MetroPlains Project. When the HRA/City draws against these funds <br /> from time to time, it shall promptly provide MetroPlains with a copy of the actual billing <br /> involved. Within 60 days of the end of the Term, the HRA will give MetroPlains a final <br /> accounting of this deposit and will return any funds which are not needed to pay or <br /> reimburse for such eligible expenses. MetroPlains shall not be required to pay more than <br /> $15,000 pursuant to this subparagraph, even if the total of eligible HRA/City expenses <br /> exceeds that amount. The existence of this funding and utilization thereof by the <br /> HRA/City shall in no way compromise the judgment or discretion of the HRA/City as to <br /> the acceptability of the MetroPlains Project or the proposed provisions of a <br /> 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. <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 /> • <br /> 1457233v3 3 <br />