11-24-2004 Council Agenda - Laserfiche WebLink

Home Browse Search

AMENDMENT TO PURCHASE AGREEMENT AND RIGHT OF ENTRY AGREEMENT FOR THE VILLAGE AT LITTLE CANADA THIS AGREEMENT is entered into as of the day of , 2004, between the Economic Development Authority of the City of Little Canada, a body corporate and politic established under Minnesota Statutes Chapter 469 (the "EDA "), and The Village at Little Canada LLC, a Minnesota limited liability company ( "Developer"). RECITALS A. The EDA is the owner of' the real property depicted as Parcel 1 and Parcel 2 on Exhibit A attached hereto (individually, "Parcel I" and "Parcel 2 ", and collectively, the "Property "). B. Developer and the EDA have previously entered into a Purchase Agreement for Parcel 1 (the "Parcel 1 Purchase Agreement "), a Purchase Agreement for Parcel 2, and a Development Agreement (the "Development Agreement "), each dated as of December 9, 2003, pursuant to which the EDA will convey the Property to Developer and Developer will construct certain improvements on the Property. C. The parties desire to amend the Parcel 1 Purchase Agreement by delaying the Date of Closing (as defined therein) to accommodate the filing of the plat that includes the Property (the "Plat "). D. Developer desires to enter onto the Property for purposes of commencing construction on Parcel 1 and preparing for construction on Parcel 2. E. The EDA has agreed to allow Developer to enter onto the Property for the purposes described herein in accordance with the terms and conditions of this Agreement. NOW, THEREFORE, in consideration of the mutual promises, covenants, undertakings, and other consideration set forth in this Agreement, the parties agree as follows: 1. Amendment to Parcel 1 Purchase Agreement. The Date of Closing set forth in Section 8 of the Parcel 1 Purchase Agreement shall be changed from December 31, 2004, to May 31, 2005. Notwithstanding the foregoing, the parties agree that the closing will occur within 10 days of the final approval of the Plat. All other terms and conditions of the Parcel 1 Purchase Agreement shall remain in full force and effect. 2. Right of Entry. The EDA hereby grants Developer, its employees, agents and contractors (collectively, the "Developer Authorized Parties ") a license to enter upon the Property to conduct and perform the following activities (the "Permitted Activities "): 7-