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EARNEST MONEY CONTRACT <br />We, the undersigned, hereby acknowledge receipt from the City of Little <br />Canada, a municipal corporation, of the sum of One Dollar ($1.00) as earnest money <br />in consideration of the grant by us to the City of Little Canada, its successors <br />and assigns, of a slope easement over and across the East 15 feet of Lot 10, Block <br />2, North Park, Ramsey County, Minnesota, lying easterly of the following described <br />line: <br />Beginning at a point on the North line of said Lot 10, <br />distant 15 feet West of the Northeast corner thereof; <br />thence South on a line parallel to the East property <br />line to a point 110 feet North of the South property line <br />thereof and said line there terminating. <br />(1) The undersigned grant the City of Little Canada the right to enter <br />upon the above easement for the purpose of constructing said road and utilities <br />immediately upon execution of this agreement by the grantors herein, until said <br />construction is completed. <br />(2) The total price for such easement shall be the sum of $1.00, the <br />receipt of which is hereby acknowledged. <br />(3) The easement to be granted shall be prepared by the City of Little <br />Canada at its own expense. <br />(4) The City agrees to do all necessary grading work to insure proper <br />drainage on the property immediately to the east of the existing dwelling and <br />warrants that owner will have no drainage problems as a result of this total <br />project. <br />(5) It is mutually agreed that the owners' property will not benefit (and <br />therefore shall not be assessed) from the street, curb and utility improvements <br />except for the water line, of which 100 feet is benefited, and except for the <br />north 100 feet, more or less, which is not a buildable lot at the present time. <br />Therefore, any assessments, including curb, against said north 100 feet shall be <br />deferred until such time as the City issues building permits for said lot and any <br />interest accruing on said assessments shall not be due and payable until said <br />deferment terminates, any such interest shall not compound as it accumulates. The <br />maximum assessment against the balance of the frontage on Park Street will be 100 <br />feet, since the owner could elect to be assessed on Demont Street on which he has <br />100 feet of frontage. <br />Dated: December , 1981. <br />JAMES B. VEILLEUX <br />LORRAINE K. VEILLEUX <br />CITY OF LITTLE CANADA <br />By <br />Clayton Parks, Jr. - Attorney <br />