7.5 SR 06-17-2024 - Laserfiche WebLink

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original Construction Plans, the revised Construction Plans shall be deemed approved by the City unless rejected in writing within 30 days by the City with a written statement of the City's reasons for such rejection. If the Developer desires to make any change which does not materially modify the scope, size or use of the Project or the site plan therefor, the Construction Plans need not be resubmitted. Approval of Construction Plans hereunder is solely for purposes of this Agreement and shall not constitute approval for any other City purpose. Section 3.4 Conveyance Subject to Right of Re-entry_. The City's conveyance of the Development Property to the Developer pursuant to the Purchase Agreement will be made subject to a right of re-entry for breach of conditions subsequent in favor of the City. The condition subsequent is that, barring any Unavoidable Delays, the Developer shall have completed construction of the foundation of the Project on the Development Property in accordance with permits issued by the City by not later than , 2024. If Developer fails to satisfy such condition subsequent, the City shall provide written notice to the Developer and the Developer shall have 30 days from receipt of the City's notice to complete construction of the foundation of the Project. Failure to complete construction in such timeframe shall constitute a breach of the condition subsequent and the Developer shall re -convey the Development Property back to the City, without cost to the City. If the Developer fails to re -convey the Development Property to the City, the City may elect to exercise its right of reentry by commencing an action in Sherburne County District Court to establish the breach of the condition subsequent. If the City establishes a breach of the condition subsequent, title to and the right to possession of the Development Property and title to all improvements located thereon reverts to the City, without cost to the City, and the Developer is not entitled to any compensation from the City for the value of the Development Property or any improvements the Developer has made to the Development Property. The Developer must record the Certificate of Release set forth in the Deed in the proper County land records at its expense. Section 3.5 Certificate of Completion. The Developer shall notify the City when construction of the Project has been substantially completed. The City shall conduct any inspections of the Project it determines necessary in order to determine whether the Project has been constructed in substantial conformity with the approved Construction Plans. If the City determines that the Project has not been constructed in substantial conformity with the approved Construction Plans, the City shall deliver a written statement to the Developer indicating in adequate detail the specific respects in which the Project has not been constructed in substantial conformity with the approved Construction Plans and the Developer shall have a reasonable period of time to remedy such deficiencies. The City shall re- inspect the Project within a reasonable period of time after receiving notice that such deficiencies have been remedied in order to determine whether the Project has been constructed in substantial conformity with the approved Construction Plans and this Agreement. Within a reasonable period of time after determining that the Project has been constructed in substantial conformity with the approved Construction Plans, the City will furnish to the Developer a Certificate of Completion certifying the completion of the Project after determining that the following conditions precedent have been satisfied: (a) There shall exist no uncured Event of Default hereunder; (b) The City has issued a certificate of occupancy for the Project; (c) The City shall have reasonably determined that the Project has been substantially completed and constructed in accordance with all local, state and federal laws and regulations (including without limitation environmental, zoning, building code, and public health laws and regulations), and any applicable permits and in substantial conformity with this Agreement and the final construction plans approved by the City in connection with issuing construction permits, each as applicable; (d) The Developer shall certify to the City that all costs related to the Project and the 10 EL 185\77\951254.v6 Page 306 of 372