Laserfiche WebLink
3 <br />2. If the City conveys into private ownership a fee interest in all or any portion of <br />the public property that is subject to this Agreement, it must require as a <br />condition of sale, and enforce: (a) that the purchaser record a declaration on the <br />property incorporating the Facility maintenance requirements of this Agreement; <br />and (b) that recordation occur either before any encumbrance is recorded on the <br />property or, if after, only as accompanied by a subordination and consent <br />executed by the encumbrance holder ensuring that the declaration will run with <br />the land in perpetuity. If the City conveys into public ownership a fee interest in <br />all or any portion of the property that is subject to this Agreement, it must <br />require as a condition of the purchase and sale agreement that the purchaser <br />accept an assignment of all obligations vested under this Agreement. <br /> <br />3. This Agreement is in force for five years from the date on which it is fully <br />executed and will renew automatically for five-year terms unless terminated by <br />the parties. This Agreement may be amended only in a writing signed by the <br />parties. <br /> <br />4. The recitals are incorporated as a part of this Agreement. <br /> <br />IN WITNESS WHEREOF, the parties hereto have executed this Agreement. <br /> <br />RICE CREEK WATERSHED DISTRICT <br /> <br />By _______________________________ Date: <br /> RCWD Administrator, Phil Belfiori <br /> <br /> <br />CITY OF LINO LAKES <br /> <br />By: _______________________________ Date: <br /> Community Development Director, Michael Grochala