04-16-2004 - Laserfiche WebLink

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A • NOW, THEREFORE, ON THE BASIS OF THE MUTUAL COVENANTS AND . AGREEMENT HEREINAFTER PROVIDED, IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO 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 fee owner of or controls via a purchase agreement 100 percent of the Subject Property, that it 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 any liens, interests or encumbrances, except as listed on the attached Exhibit C. 3. The Owner requests that 100 percent of the cost of the Improvement Project be assessed against the Subject Property. The Owner understands and agrees that the current estimated • cost of the Improvement Project is $308,700, but that the cost of the Improvement Project will be determined in accordance with Minn. Stat., Chapter 429 and standard city practices and that such cost may exceed the estimated cost. The Owner further understands and agrees that the City does not waive any rights to levy special assessments against the Subject Property in an amount in excess of the estimated cost in the event actual project costs which may lawfully be assessed pursuant to Minn. Stat., Chapter 429,exceed said amount. 4. The Owner waives notice of hearing and hearing pursuant to Minn. Stat. Section 429.031, on the Improvement Project and notice of hearing and hearing on the special assessments levied to finance the Improvement Project pursuant to Minn. Stat. Section 429.061, and specifically requests that the Improvement Project be constructed and special assessments levied against the Subject Property therefore without hearings. 5. The Owner waives the right to appeal the levy of the special assessments in III SJR-245276v2 MU205-29 2 I