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FEB 4 '94 1k0:47 FROM LSD 1892 PRGE.002 COOPERATIVE AGREEMENT FOR FINANCING AND CONSTRUCTION OF STREET AND RELATED IMPROVEMENTS THIS AGREEMENT, by and between Independent School District No. 623, an independent school district under the laws of the State of Minnesota (the "School District") and the City of Falcon Heights, a statutory city under the laws of the State of Minnesota (the "City"'), is entered this day of 1994. WHEREAS, the School District has petitioned the City under Minnesota Statutes Section 429.031, subdivision 3 for certain street, stormwater, parking and related improvements (the "Improvements') to be constructed at 1393 West Garden Avenue, Falcon Heights, Minnesota, and appurtenant areas, as legally described on Exhibit A, attached Hereto and incorporated Mean; and WHEREAS, the City finds the Improvements to be in furtherance of the public health, safety and welfare of the citizens of Falcon Heights and desires to cooperate with the School District's petition for special assessment by entering into this Cooperative Agreement with the School District. NOW, THEREFORE, IN CONSLDFIRATION OF THE TERMS AND PROVISIONS HEREIN, IT IS AGREED BY THE PARTIES AS FOLLOWS: 1. Latio.QofIl1220)vemen>ts. The School District certifies that it is the only owner of real property abutting on that portion of West Garden Avenue described in Exhibit A. The property described in Exhibit A is the location of the Improvements (the 'Property". 2. Petition. The School District has petitioned the City to assess the entire cost of the Improvers, up to a maximum of $250, 000.00 (the amount of the cost estimate), against the Property. The School District shall pay for any and all costs of the Improvements, if any, in excess of $250,000.00. 3. City Rtview. The City has reviewed and approved the plans, specifications and cost estimates contained in the petition however, such review and approval is for purposes of statutory compliance only and shall liability professional or technical approval nor to create or form the basis for part of the City whatsoever. 4. &„C4. Upon such notice and hearing, if any, as the City deems appropriate, the City shall adopt a resolution making the findings as required by Minn. Stat. 429.031, subd. 3 and order the Improvements. The order for, Improvements may, at the sole option of the City, be rescinded in the event that the validity of the resolution is questioned by any taxpayer or property owner pursuant to Minn. Stat. 429.031, subd. 3, within thirty (30) days after adoption of the =solution. In the event the order is rescinded, this Agreement shall be null and void, except that the School District shall pay the City's costs incurred to date in accordance with Paragraph 10 hereof. 5. Stiuulation of Benefit and Wainer of Obiections. The School District hereby irrevocably stipulates that. the Property is beneinted by the Improvements in the amount of $250,000.00 and waives (i) all rights to object to a special assessment against the Property made pursuant to this Amt, and (ii) all rights to object to the amount of benefit to the Pr'y- 6. Cronyism= with Public and Laws. 'The School District shall be solely respcntsiible for selecting and paying the contractor or contractors and for compliance with all applicable public bidding laws. The School District shall, to the extent not inconsistent