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CITY OF LINO LAKES <br />R ESOLUTION NO. 13 -50 <br /> <br />APPROVING A RELEASE OF OBLIGATIONS FROM CONTRACT FOR <br />SUBDIVISION/PLANNED UNIT DEVELOPMENT BET WEEN CITY OF LINO <br />LAKES AND HARTFORD D EVELOPMENT, INC <br /> <br />WHEREAS, the City and Hartford Development, Inc., a Minnesota corporation (“Master <br />Deve loper”), are parties to a Contract for Subdivision/Planned Unit Development relating to <br />the Legacy at Woods Edge master development between the City and Master Developer dated <br />effective December 21, 2004, and recorded December 29, 2004, as Document No. 197 1748.007 <br />in the office of the Anoka County Recorder, Anoka County, Minnesota (the “Contract”); and <br /> <br />WHEREAS, the real property legally described as Outlot A, The Village No. 4, Anoka <br />County, Minnesota (the “Property”), which was tax -forfeited, is subject t o the Contract; and <br /> <br />WHEREAS, the LLC has entered into a Purchase and Redevelopment Agreement dated March <br />19, 2013 (the “Purchase Agreement”), with the Lino Lakes Economic Development Authority <br />(the “EDA”) to purchase and redevelop the Property as an expan sion to the existing assisted <br />living facility located on the property adjacent to the Property; and <br /> <br />WHEREAS, in connection with the acquisition of the Property, the LLC has requested that the <br />Property and the LLC be released from the terms and conditions of the Contract; and <br /> <br />WHEREAS, it is in the best interest of the City to promote development by LLC and to release <br />the LLC and the Property from the terms and conditions of the Contract; <br /> <br />NOW, THEREFORE BE IT RESOLVED by The City Council of The City of Lin o Lakes <br />that the “Release of Obligations under the Contract for Subdivision/Planned Unit <br />Development ”, attached hereto as Exhibit A, is hereby approved; <br /> <br />BE IT FURTHER RESOLVED that the Mayor and City Clerk are hereby authorized to <br />execute the release on b ehalf of the City. <br /> <br />Adopted by the Council of the City of Lino Lakes this 13 th day of May, 2013. <br /> <br /> <br />The motion for the adoption of the foregoing resolution was introduced by Council Member <br />_______________and was duly seconded by Council Member ________________ and upon <br />vote being taken thereon, the following voted in favor thereof: <br /> <br />The following voted against same: <br />______________________________ <br />Jeff Reinert, Mayor <br /> <br />ATTEST: <br /> <br />________________________ <br />Julianne Bar tell, City Clerk