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CONFIDENTIALITY AGREEMENT
<br /> This agreement is made this Z7 day of Flu �wv� ,20 j by and between
<br /> r;`y�5 �A,,,A;,r, , a C4� cy rrc� I,�, hereinafter"Developer,"and
<br /> Springsted ldcorporated, a Minnesota corporation,hereinafter"SDringsted."
<br /> WHEREAS, Developer is �Yti L41;,)-�t r� r.t!l,' ,hereinafter the"Project,"
<br /> pursuant to a (form of agreement)with
<br /> 0— ITI (public entity),hereinafter the"City,"dated
<br /> and
<br /> WHEREAS, Springsted has been hired by the City to investigate certain financial aspects of the
<br /> Developer and the Project; and
<br /> WHEREAS, in conjunction with such investigation, Springsted desires to examine the financial
<br /> information of Developer relative to Developer and the Project;and
<br /> WHEREAS,Developer is willing to disclose such information only on the condition that such
<br /> information be kept confidential.
<br /> NOW, THEREFORE, in consideration of the terms and mutual covenants contained herein,the
<br /> parties agree as follows
<br /> I. Developer agrees to make its financial information,development pro forma and
<br /> projection,budget information,and such other financial information concerning the
<br /> Project as Springsted may reasonably request,hereinafter the"Information,"available
<br /> for inspection by Springsted, but solely for the purpose set forth above.
<br /> 2. Springsted shall accept the Information in strict confidence solely for that purpose
<br /> and shall make no other use of the information, or disclose it to any Other person or
<br /> party, including the City, without the express written consent of Developer.
<br /> Notwithstanding the foregoing, Springsted may use the Information in summary form
<br /> only to report its findings to the City provided that Springsted first presents its proposed
<br /> report to Developer and obtains Developer's written consent to ensure that no
<br /> inadvertent disclosures of confidential information or other inaccurate information are
<br /> contained in such report.
<br /> 3. Inspection of the Information shall take place in such manner and at such place and
<br /> time as the parties may agree. The Information shall not be copied, duplicated,
<br /> abstracted, summarized or recorded, directly or indirectly, by any means whatsoever,
<br /> without the prior consent of Developer.
<br /> 4. The Information shall remain the property of Developer, and any Information
<br /> provided in tangible form shall be returned to Developer upon completion of such
<br /> inspection. Any copies, duplications, abstracts, summaries or other recordings of the
<br /> Information made with Developer's consent shall be returned to Developer upon
<br /> demand.
<br /> 5. Springsted agrees that any breach of the obligation of confidentiality imposed hereby
<br /> shall constitute irreparable harm to Developer and shall entitle Developer to equitable
<br /> relief enjoining any further breaches of this Agreement,together and in conjunction with
<br /> any and all such other remedies as may be available to Developer at law or in equity.
<br /> IN WITNESS WHEREOF,the parties have hereunto set their hands the day and year first above
<br /> written.
<br /> DEVELOPER
<br /> Its
<br /> S INGSTED INC.
<br /> By Its
<br /> City of Elk River Tax Increment Financing Policy&Application-Housing F 0 W E R f 0 0 Y
<br /> Amended April 8 20154ATURE
<br /> Page 13 of 14 A
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