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2013-058 Council Resolution
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2013-058 Council Resolution
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Last modified
10/2/2014 3:48:58 PM
Creation date
10/2/2014 11:14:03 AM
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City Council
Council Document Type
Master List Resolution
Meeting Date
05/28/2013
Council Meeting Type
Regular
Resolution #
13-058
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Preserve at Lino Lakes <br />Development Contract <br />May, 2013 <br />3. All special assessments levied hereto shall be payable to the City Clerk in <br />semi- annual installments over fifteen (15) years commencing on April 15 of <br />the year after the levy of such assessment and on each September 15 and <br />April 15 thereafter until the entire balance plus accrued interest is paid in full <br />unless paid earlier. In the alternative, the City, at its option, may certify the <br />entire assessment roll to the Anoka County Auditor for collection with the <br />Real Estate Taxes. In the event any payment is not made on the dates set out <br />herein, the City may exercise its rights granted hereunder for such default. <br />The Developer waives any and all procedural and substantive objections to <br />the installation of the City Improvements and the special assessments, <br />including but not limited to hearing requirements and any claim that the <br />assessments exceed the benefit to the property. In the event the total of all <br />City Installed Improvements is less than originally estimated by the City <br />Engineer in his feasibility report, Developer waives any appeal rights <br />otherwise available pursuant to M.S.A. 429.081. <br />D. Required Payments of Special Assessments by Developer. <br />1. Developer, its heirs, successors or assigns hereby agrees that within thirty <br />(30) days after the issuance of a certificate of occupancy for a residence on a <br />lot located within the Subdivision which is assessed for the cost of such City <br />Improvements, the Developer, its heirs, successors or assigns, agrees, at its <br />own cost and expense, to pay the entire unpaid City Improvement Costs <br />assessed or to be assessed under this agreement against such property. <br />2. If a certificate of occupancy is issued before the special assessments have <br />been levied, the Developer, its heirs, successors or assigns shall pay the City <br />the sum of cash equal to one hundred twenty percent (120 %) of the <br />Engineer's estimate of the special assessments for such City Improvements <br />that would be levied against the property. Upon such payment the City shall <br />issue a certificate showing the assessments are paid in full. Notwithstanding <br />the issuance of said certificate, the Developer shall be liable to the City for <br />any deficiency and the City shall pay the Developer any surplus arising from <br />the payment based upon such estimate. Developer will be paid interest on <br />all assessments paid before the levy of such assessments by the City at the <br />bond interest rates paid by the City. <br />E. Acceleration Upon Default. <br />1. In the event the Developer violates any of the covenants, conditions or <br />agreements herein contained to be performed by the Developer, violates any <br />ordinance, rule or regulation of the City, County of Anoka, State of <br />Minnesota or other governmental entity having jurisdiction over the plat, or <br />fails to pay any installment of any special assessment levied pursuant hereto, <br />or any interest thereon, when the same is to be paid pursuant hereto, the City <br />page 10 <br />
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