EDA Resolution 12-EDA-272 - Laserfiche WebLink

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LIMITED USE AGREEMENT This Limited Use Agreement (the "Agreement") is made as of September 1, 2012, by and between the Mounds View Economic Development Authority, a Minnesota body corporate and politic, 2401 County Road 10, Mounds View, Minnesota 55112 (the "EDA") and Coventry Senior Living of Mounds View, LLC, a Minnesota limited liability company, 720 Mahtomedi Avenue, Mahtomedi, Minnesota 5515 ("Coventry"). RECITALS A. The EDA is the owner of vacant property located in the City of Mounds View, County of Ramsey which is located at: 2390 Highway 10 NE, legally described on the attached Exhibit A("Property"). B. Coventry is in the process of developing the adjacent property located southeast of the Property into a senior housing development. C. Coventry has requested to temporarily use the Property as a construction staging area for the senior living development. The area of the Property to be used by Coventry is depicted on the attached Exhibit B("Limited Use Area"). D. The EDA is willing to allow Coventry to use the Limited Use Area subject to Coventry entering into this Agreement. AGREEMENT 1. Incorporation of Recitals. The recitals set forth above are incorporated herein and made a part of this Agreement. 2. Grant of Limited Use. The EDA warrants that it owns and has the right to grant the limited use interest affecting the Property. The EDA does hereby grant a nonexclusive limited use to Coventry for the purposes of parking vehicles and storage of materials, equipment, and supplies over and across the Limited Use Area in exchange for Coventry's covenants and promises contained herein. The EDA may designate a different Limited Use Area on the Property at its sole discretion after providing 14 days' written notice to Coventry. 3. Consideration. Coventry agrees to pay the EDA $100.00 per month for the grant of the limited use. 4. Scope. The EDA reserves the right to the use the Property, including the Limited Use Area during the term of this Agreement for its own purposes. 5. Maintenance and Repair. Coventry shall repair and maintain, in a proper, substantial and workerlike manner, the Limited Use Area during the term of this Agreement. Coventry shall be responsible for the costs of removal of any refuse or waste materials from the Limited Use Area. Coventry shall not use the Limited Use Area for the storage, handling, transportation, or disposal of any hazardous substance, hazardous waste, pollutant, or contaminant as those terms are defined in 42 U.S.C. Section 9601, et. seq. ("CERCLA") or Minnesota Statutes 1 409586v1 SJS MU210-189