09-22-1982 Council Agenda - Laserfiche WebLink

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(hereinafter the "Exchange Property"); and WHEREAS, the State of Minnesota has agreed to transfer said Exchange Property to Tex -Sota in exchange for the Ponding Area; and WHEREAS, the City wishes to obtain and retain certain easements over the Property and the Ponding Area; and WHEREAS, the City, in consideration of development of the Ponding Area, and of the granting of and retention of certain easements described below, is willing to cooperate with the State of Minnesota and Tex -Sota in accomplishing the above - described transfers; NOW THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the parties hereto agree as follows: 1. Actions by the City. (a) As soon as practicable after execution of this Agreement, the City will, by appropriate proceedings, vacate those portions of Rosedale Avenue and Courtland (or Jackson) Street as are located within the boundaries of the Property. (b) Upon conveyance of the Ponding Area by Tex -Sota and Naegele, Inc. to the City, in consideration for the City's future conveyance of the Exchange Property to Tex -Sota and Naegele, Inc., as their interests shall appear, the City shall convey said Ponding Area, subject to the City's reservation of easements for utilities and access thereto, to the State of Minnesota. (c) Upon conveyance to the City of the Exchange Property by the State of Minnesota, the City shall convey the Exchange Property to Tex -Sota and Naegele, Inc., as their interests shall appear. (d) All conveyances shall include the appropriate vacated portions of Rosedale Avenue and Courtland (or Jackson) Street. (e) The City shall take whatever action is necessary to authorize Tex - Sota to salvage gravel from the City's existing utility access road running northerly 3f;