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06-23-14 Council Packet
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06-23-14 Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
06/23/2014
Council Meeting Type
Regular
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NorthPointe <br />Development Contract <br />June, 2014 <br />expense, to pay the entire unpaid Charges assessed or to be assessed under <br />this agreement against such property. <br />v. 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 <br />City the sum of cash equal to 120% of the Engineer's estimate of the <br />special assessments for such City Improvements that would be levied <br />against the property. Upon such payment the City shall issue a certificate <br />showing the assessments are paid in full. Notwithstanding the issuance of <br />said certificate, the Developer shall be liable to the City for any deficiency <br />and the City shall pay the Developer any surplus arising from the payment <br />based upon such estimate. Developer will be paid interest on all <br />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 />i. In the event the Developer violates any of the covenants, conditions or <br />agreements herein, violates any ordinance, rule or regulation of the City, <br />County of Anoka, State of Minnesota or other governmental entity having <br />jurisdiction over the plat, or fails to pay when due any installment of any <br />special assessment levied pursuant to this agreement, or any interest <br />thereon, the City at its option, in addition to its rights and remedies <br />hereunder, after 10 days written notice to the Developer, may declare all of <br />the unpaid special assessments which are then estimated or levied pursuant <br />to this agreement due and payable in full, with interest. The City may seek <br />recovery of such special assessments due and payable from the security <br />provided herein. In the event that such security is insufficient to pay the <br />outstanding amount of such special assessments plus accrued interest the <br />City may certify such outstanding special assessments in full to the County <br />Auditor pursuant to Minnesota Statutes section 429.061, subdivision 3, for <br />collection the following year. The City, at its option, may commence legal <br />action against the Developer to collect the entire unpaid balance of the <br />special assessments then estimated or levied pursuant hereto, with interest, <br />including reasonable attorney's fees, and Developer shall be liable for such <br />special assessments and, if more than one, such liability shall be joint and <br />several. Also, if Developer violates any term or condition of this <br />agreement, or if any payment is not made by Developer pursuant to this <br />agreement the City, at its option, may refuse to issue building permits to <br />any of the properties within the Subdivision on which the assessments <br />have not been paid. <br />VI. BUILDING PERMITS <br />page 11 <br />
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