08-11-2004 Council Agenda - Laserfiche WebLink

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FIRST AMENDMENT TO ASSESSMENT AGREEMENT The parties to this First Amendment to Assessment Agreement (this "Agreement ") are the Economic Development Authority of the City of Little Canada, a body corporate and politic established under Minnesota Statutes, Ch. 469 (the "EDA "), and The Villas at Little Canada LLC, a Minnesota limited liability company ( "Developer "). This Agreement is made and is effective as of the 1.6th day of July, 2004. RECITALS A. The EDA and Developer are the parties to that certain Assessment Agreement, dated as of December 9, 2003 (the "Assessment Agreement "). The Assessment Agreement was recorded in the office of the Ramsey County Recorder on January 14, 2004 as Document No. 3719505, and in the office of the Ramsey County Registrar of Titles on , 2004 as Document No. B. The EDA and Developer wish to amend the Assessment Agreement to modify the legal description of the property subject to the Assessment Agreement as provided herein. NOW, THEREFORE, for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 1. Tetras used herein and not otherwise defined herein shall have the meanings given to them in the Assessment Agreement. 2. The legal description set forth on Exhibit A to the Assessment Agreement is amended in its entirety to read as set forth on Exhibit A attached hereto. 3. Any property not described in Exhibit A is hereby released from the Assessment Agreement. 4. Except as provided herein, the terms and provisions of the Assessment Agreement shall remain unchanged and in full force and effect. IN WITNESS WHEREOF, the parties hereto cause this Agreement to be executed as of the date and year first above written. _soli _∎2