08-13-08 Council Agenda - Laserfiche WebLink

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EXHIBIT D CITY'S WORK RIDER This City's Work Rider ("Rider") is attached and forms a part of the Real Estate Swap Contract ("Contract") dated August _, 2008 between the CITY OF LITTLE CANADA, a Minnesota municipal corporation ("City") and TERRACE HEIGHTS MOBILE HOME PARK, INC., a Delaware limited liability company ("Terrace Heights"). The City and Terrace Heights agree as follows: 1. City promises to perform the following work, in addition to any other work to be completed by the City under this Contract, hereafter referred to as "City's Work": • City agrees to design and construct a water main loop and an additional left turn lane on County Road B2 east of Rice Street, including but not limited to curbs, gutters, storm sewer, and landscape amenities, in accordance with all applicable codes, ordinances and regulations, and in that location and manner as approximated on Exhibit C. City further promises to (a) pay all costs to complete City's Work; (b) perform all work in a good workmanlike manner; and (c) obtain all necessary permits and governmental approvals to perform City's Work. Terrace Heights shall not be subject to special assessments to levied pursuant to Minnesota Statutes Chapter 429, if any, for the work defined in Provision #1 of this agreement. 2. Subject to City acquisition of properties located at 2404 Rice Street and 93 County Road 82 West in Little Canada or other unavoidable delays, City's Work shall be completed within 24 months of acquisition of said properties. 3. As part of the construction of the improvements contemplated herein and, City shall also provide an alternate to its construction project to provide for the repaving of Park Street from County Road B2 to Transit within Terrace Heights. Said work shall specially assessed to Terrace Heights at 100% of all costs incurred by City in making said improvement to Park Street including, but not necessarily limited to engineering, inspection, and administration for a ten (10) year term. The interest rate to be applied to the special assessment shall be at a rate to be determined by the City in its sole discretion, and based upon interest rates in effect at the time of the work to be undertaken. Said alternate is also subject to the execution of a Waiver of Right to Appeal Special Assessments to be executed by Terrace Heights. Terrace Heights shall, prior to the award of the bid for the work contemplated, have the right to determine if it wants to proceed with the alternate work. Said decision must be made within five (5} days of receipt of bids by City. H:\JOe1HlDevelopment Agreements\Terrace Heights Real Estate Swap Contract -Final Draft • S.OB.OS.doc 11