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• b. Buyer's acquisition of a commitment for financing, acceptable to Buyer in <br /> Buyer's sole and absolute discretion, sufficient to permit Buyer to close on the acquisition <br /> of the Property; <br /> c. Buyer's determination that Buyer will be able to obtain all zoning or <br /> rezoning approvals, variances, conditional use permits, operating permits or other federal, <br /> state or local approvals or permits (collectively, "Permits")necessary for Buyer's <br /> intended use of the Property as a manufacturing facility; <br /> d. Seller's recording of the plat of NORTHSTAR BUSINESS PARK on or <br /> before the Date of Closing,with no changes to the Property or the other portions of <br /> NORTHSTAR BUSINESS PARK as shown on Exhibit A attached hereto; <br /> e. The City of Elk River and Sherburne County having adopted appropriate <br /> tax rebate or tax abatement financing resolutions approving the tax rebate or tax <br /> abatement financing and the City of Elk River and Buyer having executed a mutually <br /> acceptable form of tax rebate or tax abatement financing agreement; <br /> f. Seller having satisfied the notice and hearing requirements set forth in <br /> Minnesota Statute Section 469.105, Subd. 2; having adopted a resolution approving a sale <br /> pursuant to the terms of this Agreement; having made findings and a decision that the <br /> sale is advisable and having entered its findings on its records as required by Minnesota <br /> Statute Section 469.105, Subd. 3; and/or either(i)no taxpayer having filed an appeal <br /> • within the twenty(20) day time period described in Minnesota Statute Section 469.105, <br /> Subd. 3, or(ii)the time periods during which a taxpayer may appeal the District Court's <br /> decision having expired on or before the Date of Closing; <br /> g. The City of Elk River having let contracts for construction of streets, the <br /> sanitary sewer, storm sewer and water main improvements which,when completed, will <br /> be sufficient to support Buyer's intended use of the Property as a manufacturing facility <br /> and which contracts (except for the contract relating to the construction of streets) <br /> provide that all of such improvements will be completed no later than December 31, <br /> 2005; <br /> h. Seller having approved the Plans pursuant to Section 7 on or before the <br /> Date of Closing; <br /> i. The City of Elk River having issued a building permit for the construction <br /> of Buyer's improvements on the Property;provided,however, Buyer may not exercise <br /> this contingency if Buyer does not submit to the City of Elk River on or before <br /> September 16, 2005, all initial information and materials the City of Elk River requests <br /> and requires for the issuance of a building permit prior to such date. Such submission <br /> deadline shall not apply to the City of Elk River's subsequent requests for supplemental <br /> information after such date; <br /> j. The City of Elk River having completed its grading of the Property <br /> pursuant to the Preliminary Grading Plan for Northstar Business Park prepared by BDM <br /> Consulting Engineers,PLC, and dated July 19, 2005 (a copy of which is attached as <br /> 1787610v6 10 <br />