Agenda Packets - 1992/01/27 - Laserfiche WebLink

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ASSESSMENT AGREEMENT THIS AGREEMENT, effective as of the 31st day of December, 1991, is made and entered into by and among The City of Mounds View, Minnesota, a municipal corporation (the "City") , Commercial Property Investments, Inc. , a Minnesota corporation and Everest Development, Ltd. , a Minnesota corporation (the "Redeveloper") Everest Investments Limited Partnership, a Minnesota Limited Partnership ("Everest") , and the County Assessor of the County of Ramsey (the "Assessor") . WITNESSETH, that WHEREAS, on or before the date hereof the City and the Redeveloper, have entered into a Contract for Private Redevelopment (the "Redevelopment Contract") regarding certain real property located in the City of Mounds View, pursuant to which the City is to acquire certain property, hereinafter referred to as the "Redevelopment Property" and legally described in Exhibit A hereto and convey said Redevelopment Property to the Redeveloper; and WHEREAS, Everest has purchased said Redevelopment Property from the Redeveloper; and WHEREAS, the Redeveloper has assigned its interest in the Redevelopment Contract to Everest Investments Limited Partnership, a Minnesota Limited Partnership (Everest) by Assignment dated September 25, 1989; and WHEREAS, pursuant to said Redevelopment Contract the Redeveloper constructed an office, manufacturing and warehouse facility and other improvements upon the Redevelopment Property (the "Minimum Improvements") ; and WHEREAS, pursuant to said Redevelopment Contract the parties entered into an Assessment Agreement effective December---31, --1989, and filedforrecord in theOfficeof the County Recorder in and for Ramsey County, Minnesota, on February 20, 1990, as Document No. 2532006, which Assessment Agreement established a minimum market value for the Redevelopment Property and the improvements thereon as of January 1, 1990 ("Existing Assessment Agreement") ; and 2