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MINUTES 03 SECONDS W, 412.83 FEET; THENCE S 01 DEGREES <br />50 MINUTES 43 SECONDS W, 114.07 FEET; THENCE S 42 <br />DEGREES 08 MINUTES 51 SECONDS E, 32.00 FEET; THENCE S <br />71 DEGREES 37 MINUTES 52 SECONDS E, 107.79 FEET TO A <br />POINT ON SAID EAST LINE OF TRACT C, DISTANT 10 FEET <br />NORTHERLY FROM THE SOUTHEAST CORNER OF TRACT C; THENCE <br />EAST ALONG A LINE PARALLEL TO AND 10 FEET NORTHERLY OF <br />THE EASTERLY EXTENSION OF THE SOUTH LINE OF TRACT C A <br />DISTANCE OF 20 FEET AND THERE TERMINATING. <br />The connection of the above described property to City's <br />sewer system is subject to the following conditions: <br />1. Owner shall pay to City the following charges: <br />(a) A connection charge of Sixty -five Thousand Two <br />Hundred Seventy -five and No /100 Dollars <br />($65,275.00), as determined by City, pursuant to <br />Minn. Stat. §444.075 and applicable Little Canada <br />ordinances. Said payment shall be made in fifteen <br />(15) equal, annual installments with the first <br />installment due upon execution of this agreement <br />and each subsequent payment due twelve (12) months <br />thereafter. Interest shall accrue on the <br />outstanding balance at the rate of seven percent <br />(7 %) per annum. Owner may prepay the entire <br />outstanding balance at any time without penalty. <br />Interest will accrue to the date of payment. <br />(b) Quarterly sewer usage charges shall be payable by <br />Owner within thirty (30) days after mailing of <br />City's billing. The parties hereto understand <br />that said charges may be increased or decreased by <br />amendment of the applicable City ordinances and /or <br />-3- <br />Page 12 <br />