Laserfiche WebLink
OPEN SPACE EASEMENT AGREEMENT <br />THIS OPEN SPACE EASEMENT AGREEMENT (“Agreement”) is made this day of <br /> , 2022, by and between U.S. Home Corporation, a Delaware corporation (“Grantor”) and <br />the City of Lino Lakes, a municipal corporation under the laws of Minnesota (“Grantee”). <br />Recitals <br />A.Grantor is the fee owner of the following described property in Anoka County, Minnesota <br />(the "Property") as shown on attached Exhibit A: <br />Outlots A, C, and E, WATERMARK 5 th ADDITION, according to the recorded <br />plats thereof. <br />B.Pursuant to Section 7.2 of that certain Master Development Agreement (the “Development <br />Contract”) by and between Grantor and Grantee, dated on or about the date hereof, Grantor is <br />required to grant to Grantee an open space easement over portions of the Property. <br />C.Grantor desires to fulfill its obligations under the Development Contract with respect to the <br />obligations set forth in Section 7.2 thereof, and therefore, for good and valuable consideration, <br />Grantee and Grantor hereby agree on the terms and conditions set forth herein. <br />Terms of Agreement <br />1. Grant of Open Space Easement. For good and valuable consideration, receipt of which is <br />acknowledged by Grantor, the Grantor grants and conveys to the Grantee an open space easement <br />(the “Easement”) over the Property owned by Grantor described as follows (“Easement Area”): <br />A permanent easement for open space, access and management in accordance with the <br />Parks and Open Space Plan set forth in Exhibit D of the Development Contract, and the <br />Restoration and Management Plan set forth in Exhibit F of the Development Contract. <br />2. Scope of Easement; Confinement; Exceptions. <br />2.1 The easement includes the right of the Grantee, its contractors, agents, and <br />employees to enter upon said Easement Area at all reasonable times for all purposes as set forth in <br />the Development Contract, including but not limited to the right of Grantee to utilize the Easement <br />Area in a manner consistent with Exhibit D of the Development Contract.