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EDA Resolution 14-EDA-285
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EDA Resolution 14-EDA-285
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Last modified
8/10/2022 11:22:24 AM
Creation date
4/16/2014 11:17:27 AM
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MV EDA
EDA Document Type
Resolutions
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EXHIBIT A <br /> AMENDED AND RESTATED LIMITED USE AGREEMENT <br /> This Amended and Restated Limited Use Agreement(the"Agreement")is made as of April 14, <br /> 2014, by and between the Mounds View Economic Development Authority, a Minnesota body <br /> corporate and politic,2401 County Road 10,Mounds View,Minnesota 55112(the"EDA")and Senior <br /> Properties of Mounds View,LLC,a Minnesota limited liability company,720 Mahtomedi Avenue, <br /> Mahtomedi, Minnesota 5515 ("Coventry"). <br /> RECITALS <br /> A. The EDA is the owner of vacant property in the City of Mounds View, County of <br /> Ramsey which is located at: 2390 Highway 10 NE, legally described on the attached Exhibit A <br /> ("Property"). <br /> B. Coventry is in the process of developing the adjacent property located southeast of the <br /> Property into a senior housing development(the"Project"). <br /> C. Coventry previously requested to temporarily use the Property as a construction staging <br /> area for the Project. <br /> D. The EDA previously adopted a Limited Use Agreement dated September 1,2012,to <br /> allow Coventry's use of the EDA's Property for construction staging purposes, subject to various <br /> conditions and compensations set forth in the September 1, 2012, Limited Use Agreement. <br /> E. Coventry has requested that the limited use permitted under the September 1, 2012 <br /> Limited Use Agreement be expanded to include access across the Property, among other uses. <br /> F. The EDA is willing to allow Coventry to use the Property subject to Coventry entering <br /> into this Amended and Restated Limited Use Agreement. The area of the Property to be used by <br /> Coventry is depicted on the attached Exhibit B ("Limited Use Area"). <br /> G. The September 1, 2012, Limited Use Agreement is superseded and replaced by this <br /> Amended and Restated Limited Use Agreement. <br /> AGREEMENT <br /> 1. Incorporation of Recitals. The recitals set forth above are incorporated herein and <br /> made a part of this Agreement. <br /> 2. Grant of Limited Use. The EDA warrants that it owns and has the right to grant the <br /> limited use interest affecting the Property. The EDA does hereby grant a nonexclusive limited use to <br /> Coventry for the purposes of vehicle and construction access, parking vehicles and storage of <br /> materials,equipment,and supplies over and across the Limited Use Area in exchange for Coventry's <br /> covenants and promises contained herein. Notwithstanding the limited use granted herein, <br /> A-1 <br /> 442350v2 MU210-189 <br />
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