07/23/2007 Council Packet (2) - Laserfiche WebLink

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• • • EXHIBIT D Form of Special Assessment Agreement AGREEMENT REGARDING SPECIAL ASSESSMENTS THIS IS AN AGREEMENT MADE THIS day of , 200 between the City of Lino Lakes, Mumesota, a mtmicipal corporation, (the "City") and Greg Anderson Development, LLC, a Minnesota limited liability company (the "Owner). A. The Owner holds legal and equitable title to property described as , Anoka County, Minnesota, which property is the subject of this Agreement and is hereinafter referred to as the "Property". B. The owner desires to develop the Property in a manner to requure use of the Realigned 77th Street (hereafter referred to as the "Improvement "). C. The parties hereto desire to enter into an Agreement concerning the financing of the connection of the Improvements all of which will inure to the benefit of the Property. AGREEMENTS IT IS HEREBY AGREED as follows: 1. The Owner consents to the levying of assessments against in the amount of $ for the Improvements. 2. The City's assessment records for the Property will show the assessments as a "pending assessment" until levied_ 3. The Owner waives notice of any assessment hearing to be held at which hearing or hearings the assessment is to be considered by the City Council and thereafter approved and levied_ 4. The Owner concurs that the benefit to the Property by virtue of the connection of the Property to the Improvements exceeds the amount of the assessment to be levied against the Property. The Owner waives all rights it has by virtue of Minnesota Statute 429.081 or otherwise to nhRllenge the amount or validity of the assessments, or the procedures used by the City in apportioning the assessments and hereby releases the City, its officers, agents and employees from any and all liabiiity related to or arising out of the imposition or levying of the assessments. 5. The assessments levied against the Property shall be due and payable in installments, the first of which cha11 be payable commencing with the ad valorem taxes clue and payable in 200_. The assessment shall bear interest at the rate of % per annum in accordance with Minnesota Statutes Section 429.061.