5.0. SR 04-21-1994 - Laserfiche WebLink

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FROM LRRKIN HOFFMRN DRLY LINDGREN 612-8963265 134.213.1994 12:54 P. 13 e interest, immediately, or on such date as City shall specify in its notice of default to Developer and Guarantor. If Developer fails to make payment in the amount and at the time specified in the City's Notice of Default, City may, at its option, draw on the security provided by Developer pursuant to paragraph 12 of this Agreement, including the Guarantee, and/or commence legal action against Developer and/or Guarantor to collect the entire amount owed by Developer, including the, unpaid balance of the special assessments levied or estimated pursuant hereto, with interest, including reasonable attorneys' fees. Notwithstanding the foregoing, a default by Developer shall not be cause for accelerating the payment of assessments on parcels within the Subdivision which Developer has sold to third parties unrelated to Developer or its partners; and a default by such an unrelated third party owner of a parcel within the Subdivision shall not be cause for invoking the remedies provided for in this Agreement against Developer. However, such third party owners are subject to the terms of this Agreement and are subject to the remedies provided for herein in the event of their own default. e 13.) Additional Conditions - (01) The conditions set forth in City Council Resolution No. 93-81 approving a conditional use permit for the Project, Resolution No. 94-____, granting final plat approval for the Subdivision; and the terms and conditions set forth in the Planned Unit Development Agreement for the Subdivision (attached as Exhibit G hereto), are hereby incorporated by reference into this Developer Agreement and made a part hereof. (02) Additional Re9ulato~y Approva~s - All additional regulatory approvals required for construction of the Improvements or development of the Subdivision shall be obtained before commencement of construction on the Improvements. I i I I I ! I I I e! I I i , ! (03) Combination of Lots - The entire portion of the Subdivision which Developer proposes to plat as Outlot A, Elk Park Center Second Addition, shall be subject to an easement for drainage purposes. This lot shall be combined for tax purposes with Outlot B, Elk Park Center Addition, prior to the issuance of any building permits for the Subdivision. (04) OUtlot B - No building permits shall be issued for Outlot B, except for a signage structure as approved by the City Council. (05) Developer shall pay applicable Water Availability 13.