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are contemplated and authorized by a Senior Housing Program (the “Housing <br />Program") adopted by the City Council pursuant to Minnesota Statutes. Chapter <br />462C; and <br />WHERKAS, the Projt^l is to ^developed as a planned unit development <br />pursuant to the terms of ^ 2^B\greement dated as of October^ Zr20Q I <br />between the City and the Developer (the “PUD Agreement"). <br />WilERHAS. the proposed Project qualifies as a ‘ housing development projed" <br />within the meaning of Minnesota Statutes, Sections 46V.002. Subd. 15 and 469,017. <br />and w'ill promote and carr>’ out the objectives of the Housing Program and the TIP <br />Plan, will be in the vital bwt interests of the City and will promote the health, safety, <br />morals and welfare of its residents, and are in aecord with the public purposes and <br />provisions of the applicable state and local law’s. <br />NOW, THERIZFORE, in consideration of the mutual covenants and <br />obligations of the HRA, the City and the Developer, the parties hereby represent, <br />covenant and agree as follows: <br />[Tlic balance of this page intentionally left blank.) <br />1 <br />iL