River to River Trail Section Sample Clauses

River to River Trail Section. On or before the Closing Date, Developer shall have satisfied itself that Dakota County (or other responsible party developing the Dakota County River to River Trail) will complete construction of the River to River Trail Section by December 31, 2021, in a location that is approved by the City and Developer. For purposes hereof, the “River to River Trail Section” is a section of the Dakota County River to River Trail to be located adjacent to the Development Property. The foregoing contingencies are for Developer’s sole and exclusive benefit and one or more may be waived in writing by Developer in its sole discretion. EDA shall reasonably cooperate with Developer’s efforts to satisfy such contingencies, at no out of pocket cost to EDA or assumption of any obligation or liability by Developer. Developer shall bear all cost and expense of satisfying Developer’s contingencies. If any of the foregoing contingencies have not been satisfied on or before the applicable date, then this Agreement may be terminated, at Developer’s option, by written notice from Developer to EDA. Such written notice must be given on or before the applicable date, or Developer’s right to terminate this Agreement pursuant to this Section shall be waived. If Developer terminates this Agreement pursuant to this Section, then any amount previously paid by Developer to EDA, including the Xxxxxxx Money, shall immediately be refunded to Developer. Upon termination, neither party shall have any further rights nor obligations against the other regarding this Agreement or the Property, except for such obligations as survive termination of this Agreement. If Developer elects not to exercise any of the contingencies set out herein, such election may not be construed as limiting any representations or obligations of EDA set out in this Agreement, including without limitation any indemnity or representations with respect to environmental matters.
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River to River Trail Section. On or before the Closing Date Developer shall provide an easement for the River to River Trail in a location that is approved by the City and Developer either as part of a plat approval or in a separate easement agreement. If any contingency has not been satisfied on or before the date described therein, and if no date is specified, then the Closing Date, then this Agreement may be terminated by written notice from EDA to Developer and neither party shall have any further rights or obligations with respect to this Agreement or the Property. If termination occurs, EDA shall return the Xxxxxxx Money to Developer. All the contingencies are for the benefit of EDA, and EDA shall have the right to waive any contingency in this Section 3.6 by written notice to Developer.
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