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04-24-2002 Additions
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04-24-2002 Additions
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5/15/2012 8:09:00 AM
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storm shelter. Said lease shall be for One Dollar ($1.00) per year and for a <br />duration of Fifty (50) years or until North Star Estates no longer operates <br />as a manufactured home park, whichever occurs earlier. Said lease shall <br />require the storm shelter be operated in a manner consistent with its <br />purpose and made available to the residents of North Star Estates on a 24 <br />hour per day basis in the event of inclement weather or other such disaster <br />that would require the use of the storm shelter. In the event North Star <br />fails to operate and maintain the shelter in accordance with the lease <br />agreement, the annual rent shall increase to $15,000 per year with that <br />amount adjusted annually by the Consumer Price Index for the Twin <br />Cities Metropolitan Statistical Area with 2002 serving as the base year. <br />9. North Star Contingencies. North Star acknowledges that the completion of <br />the storm shelter project is a high priority. North Star agrees that the <br />contingencies in North Star's favor set forth in this Agreement shall be <br />limited to environmental and soil condition matters, obtaining <br />governmental approvals, including approvals of any necessary subdivision <br />approvals, lease approvals, and the satisfaction by the City of its <br />obligations under this Agreement. <br />10. Legislative Judgment. The Developer understands that some of the <br />actions which the City may be called upon to take require its reasonable <br />discretion, and in some instances, its Legislative judgment. Such actions <br />may only be made following established procedures, and the City cannot <br />agree, in advance, to any specific decision in such matters. <br />11. Notices. All communications shall be directed to the Redeveloper or the <br />City as follows: <br />If to North Star: <br />If to the City: <br />John F. Bonner <br />Bonner & Borhart, LLP <br />Suite 1500 AT & T Tower <br />Minneapolis, MN 55402 -3205 <br />City of Little Canada <br />515 East Little Canada Road <br />Little Canada, MN 55117 <br />Attention: Joel R. Hanson <br />12. Termination. If North Star fails to perform pursuant to this Agreement or <br />as may be amended in any amendment to this Agreement, and such failure <br />is not the result of a delay caused by the City, then North Star shall be <br />deemed in breach of this Agreement and the City may terminate this <br />Agreement upon ten (10) days written notice. The City may then seek to <br />3 <br />- 1 3 - <br />
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