Laserfiche WebLink
MnDOT Agreement #06820 <br />the Project on or before the Completion Date for either a fixed price or a guaranteed <br />maximum price. <br />"Construction Items" - means the work to be perfoiitied under the Construction <br />Contract Documents. <br />"Declaration" - means a declaration, or declarations, in the form as Attachment I and <br />all amendments thereto, indicating that the Grant Recipient's interest in the Real Property <br />and, if applicable, the Facility is subject to the provisions of this Agreement. <br />"Draw Requisition" - means a draw requisition that the Grant Recipient, or its <br />designee, will submit to the State Entity when an Advance is requested, and which is <br />refeiTed to in Section 5.02. <br />"Event of Default" - means those events delineated in Section 2.05. <br />"Facility", if applicable, - means highway -rail grade crossing warning devices and <br />associated safety improvements, which is located, or will be constructed and located, on the <br />Real Property. <br />"Fair Market Value" — means either (i) the price that would be paid by a willing and <br />qualified buyer to a willing and qualified seller as determined by an appraisal which <br />assumes that all mortgage liens or encumbrances on the property being sold, which <br />negatively affect the value of such property, will be released, or (ii) the price bid by a <br />purchaser under a public bid procedure after reasonable public notice, with the proviso that <br />all mortgage liens or encumbrances on the property being sold, which negatively affect the <br />value of such property, will be released at the time of acquisition by the purchaser. <br />"G.O. Bonding Legislation" - means the legislation delineated in Recital A <br />hereinabove as the G.O. Bonding Legislation. <br />. "G.O. Bonds" - means that portion of the state general obligation bonds issued under <br />the authority granted in Article XI, Sec. 5(i) of the Minnesota Constitution, the proceeds of <br />which are used to fund the Grant and any bonds issued to refund or replace such bonds. <br />"Grant" - means a grant of monies from the State Entity to the Grant Recipient in an <br />amount of $1,363,1040.00, which amount may be modified under the provisions contained <br />herein. <br />"Grant Recipient" - means City of Little Canada , a plan b statutory city <br />"Inspecting Engineer", if any - means the State Entity's construction inspector, or its <br />designated consulting engineer. <br />Little Caanda GO Bond Proceeds Grant Agreement Ver— 5/06/15 <br />for MnDOT Antiquated Equipment Grants 1 0 <br />