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AGREEMENT <br />This Agreement, made this day of <br />1976, between the Regents of the University <br />of Minnesota, a Minnesota education corporation, hereinafter <br />referred to as the "Regents" and the City of Falcon Heights, <br />hereinafter referred to as the "City". <br />WHEREAS, the Regents own two parcels of property <br />with extensive improvements thereon located within the <br />- corporate limits of the City, known as Auditor's Subdivision <br />No. 71 and Auditor's Subdivision No. 90, Ramsey County, <br />Minnesota, commonly known as the University Grove area; and <br />• WHEREAS, the Regents,. upon filing of the two <br />subdivisions, retained ownership of the streets and hence <br />have maintained the streets, sewers and lighting fixtures <br />located within the street right-of-way; and <br />WHEREAS, the lots and improvements located. in these <br />two subdivisions are leased by the Regents to faculty members <br />at the University for renewable twenty (20) year terms; and <br />WHEREAS, pursuant to Minnesota law, the lessees <br />of these lots have paid taxes on their interests in the real <br />estate for governmental services, including local- governmental <br />services which have not been provided because the street base <br />was not dedicated to the public; and <br />• <br />