05-14-2003 Council Agenda - Laserfiche WebLink

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05/09/2003 FRI 15:49 FAX 612 332 8119 SHERMAN ASSOCIATES INC FIRST AMENDMENT TO RIGHT OF ENTRY AGREEMENT THIS AMENDMENT is made as of the day of May, 2003 by and between the ECONOMIC DEVELOMENT AUTHORITY OF THE CITY OF LITTLE CANADA ( "EDA ") and THE VILLAS AT LITTLE CANADA LLC ( "Developer "). A. EDA and Developer are parties to a Right of Entry Agreement dated December 4, 2002 (the "Agreement') relating to certain real property legally described as Outlot A, Village Square, Rarnsey County, Minnesota (the "Property "). B. The parties hereto desire to amend certain provisions of the Agreement. NOW, THEREFORE, in Consideration of the foregoing recitals and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 1. All capitalized terms in this Amendment shall have the meanings given to such terms in the Agreement unless otherwise defined herein or unless the context otherwise indicates. 2. The term "Permitted Activities" set forth in the second recital of the Agreement is hereby amended to include the following: (i) conducting such tests and inspections as Developer may deem necessary or advisable, including soil tests, environmental audits, architectural and engineering surveys, and contractor inspections, (ii) storing soil, (iii) grading the Property; (iv) installation of utilities; (v) excavation; (vi) installation of footings and foundations. 3. Section 5 of the Agreement relating to restoration of the Property is amended to read as follows: "5. Restoration. If the EDA has not conveyed the Property to the Developer on or before June 30, 2003, the Developer must remove any improvements made to the Property other than utilities, secure any utilities installed at the Property, fill any holes or excavations, compact the fill, grade the Property to a consistent grade based on adjoining properties that is to be approved by the City prior to the commencement of any restoration activity, and seed the Property in accordance with any requirements imposed by the Washington/Ramsey Watershed District. The restoration activities described in this Section shall be completed by August 31, 2003" 4. EDA and Developer hereby affirm, confirm and ratify the Agreement and agree that except as modified hereby, all other terms and provisions of the Agreement shall remain in full force and effect. 5. This Amendment may be executed in any number of counterparts, all of which shall constitute one instrument. 3 002/004