R2003-20 AUTHORIZING AGREEMENT - Laserfiche WebLink

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approval required or deemed necessary by Buyer for (x) the development of the Property in accordance with the approved Site Plan, (y)construction of the Contemplated Improvements, and (z) the operation of Buyer's general merchandise department store on the Property (the "Approvals"), and prosecute said applications and petitions with all due diligence in an effort to obtain the Approvals on or before the date which is one hundred eighty (180) days after the Effective Date of this Agreement. Seller shall cooperate with Buyer in the filing and prosecution of the same, including the filing of the same in Seller's name, if required; provided however, nothing herein shall be deemed or construed as an abrogation of, and Seller reserves all of its rights, powers and duties in connection with, the exercise of its governmental functions. B. For purposes of this Agreement, special use permits, variances, platting and subdivision and other forms of governmental and quasi-governmental approvals shall be deemed to have been obtained when the same are issued and the time periods for appeal of the same have expired without contest. Any such permit, variance or approval shall not be considered sufficient unless the actual issuance thereof is unconditional. C. Seller shall,at its sole cost and expense and with all due diligence,seek to obtain,on or before the date which is one hundred eighty(180)days after the Effective Date of this Agreement any and all third party, private approvals necessary and/or appropriate for(i)the development of the Shopping Center in accordance with the approved Site Plan, and (ii) the operation of a full line "Target"or"Target Greatland"store as now operated by Buyer, or a "SuperTarget"store that may include a supermarket or other grocery store operation. SECTION 9 -TITLE AND SURVEY. 9.1 As soon as reasonably practicable after the Effective Date , Seller shall obtain from the Title Company and shall deliver to Buyer a commitment for an owner's policy of title insurance which is in compliance with the following requirements (the "Commitment"): (i) is issued on the ALTA Form B-1970-revised 10/17/70 or the equivalent; (ii) provides for extended coverage over the standard printed exceptions; 9 ::ODMA\PCDOCS\N EWARIC�617546\3 February 12,2003