2014-082 Council Resolution - Laserfiche WebLink

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WHEREAS, the City is willing to construct the Improvement Project without certain notices or hearings, provided the assurances and covenants hereinafter stated are made by the Owner to ensure that the City will have valid and collectable special assessments as they relate to the Subject Property to finance all of the costs of the Improvement Project and that all necessary right-of-way is provided to the City, at no cost to the City; and WHEREAS, were it not for the assurances and covenants hereinafter provided, the City would not construct the Improvement Project without such notices, hearings and right-of-way and is doing so solely at the behest, and for the b e>, of the Owner. NOW, THEREFORE, IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS: 1. The Owner hereby petitions the City for construction of the Improvement Project. 2. The Owner represents and warrants that it is the owner of 100 percent of the Subject Property, that is has full legal power and authority to encumber the Subject Property as herein provided, and that as of the date hereof, it has fee simple absolute title in the Subject Property, which is not subject to an) liens, interests or encumbrances, except as listed on the attached Exhibit A. . " The Owner requests that of the cost of the Improvement Project be assessed against the Subject Property ('`Project Cost") as estimated to be $1,400,000, and divided equally per lot. The owner agrees to be assessed the actual Project Cost. The parties agree and understand that the principal amount to be assessed for the Improvement Project will not exceed the Project Cost. 4. The Owner requests that the City provide the plans and specifications, and bid administration ("Design and Bidding") for the Cedar Street, 21St Avenue South and Palm Street Roadway and Utility Improvement Project. The City will be compensated for the cost to prepare the Design and Bidding documents by a deposit of cash funds through a separate Deposit Agreement to be executed by the Owner and City. The construction administration costs will be included in the Project Cost. 5. The Owner waives notice of hearing and hearing pursuant to Minn. Stat. section 429.031, on the Improvement Project, notice of hearing and hearing on the special assessments levied to finance the Improvement Project pursuant to Minn. Stat. section 429.061, and any notice of hearing or procedure specified under the City Charter; and specifically requests that the