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To the Buyer: Citi of Ylcu:ds View <br /> Atnn: r^a„rjza <br /> 2401 ii.g hway 10 - • <br /> Mounds View, MN 35112-1499 <br /> 13.4 Buyer wig in good faith. consider on a ti=eiy basis the <br /> impiemeraron of tax-increment r T for Lots <br /> I through .3, North <br /> . I d.ustr•..i Park 2nd Addition. Buyer acknowledges that the goad faith <br /> consideraton of tax increment i Tt�nc-4rtg for those Parcels is a material r <br /> of the c:as'ideraron pursuant to which Seller isPro-cert-1 <br /> . <br /> to BIZ-Ter for the rice deSC^Ded herein. Tri ,.a�-"oo---�s'r to sell the D="JZ^t.�`^y' <br /> .-is understood by Buyer that there <br /> is no ass..—once that the Mounds ViewC:�� Councl will anurove such tax: <br /> i=icreme=t fir w:.:g and that nothing in this 4greo=ent is 'intended to Cr:a.te <br /> any basis for a claim by Seiler in the event that City Councl approval of such <br /> i-=ru=ng is not obtained. The terms of the tax.increment L�.an g would be <br /> as follows: <br /> a. Ta:: i crwent fr,arcimg would be for the benefit Of the third wart; <br /> buyer or buyers from Seller. ' <br /> b. Ta--: increment FnRrr `f�Tg would be in an amount not to <br /> exceed Two <br /> -=undyed Thirty Thousand and no/100 ($230,000.00) Dollars for lateral <br /> water and sewer connection.fees and for star=water retention nand, all <br /> _otshe benefit of Lots 1 through 3, Block1, of the Plat ("Benefited <br /> c. Thirty Thousand and no/00 ($30,000.00) Dollars of the tax ncre.mert <br /> financing would be far the drainage water retention pond to be <br /> advanced for the benefit of the third party buyer of any of the <br /> Benefited Lots. <br /> d. The rerra;rr;-tgTwo Hundred Thousand and no/100 ($200,000.00) Dollars <br /> of.the tax increment =n r ci gig would be for lateral water and sewer <br /> connection fees to the City of Blaine for the Benefited Lots and would <br /> be .o ratBG aCC*'c' the Benefited dLots <br /> to based upon,-.a the �-, <br /> rIIt7ar tiCnate <br /> scuar a fp .c3 <br /> with said nro rata benefit for each of the Benefited Lots to be allocated <br /> to the t, ':^ part-r buyer or buyers of each such lot. <br /> 13.5 Prior to Closing, Seiler, <br /> the _,.,fl, fat �e , a: its sole pest and e.:1-..tense,:se will record <br /> PS l for North Star Induszai Park 2nd Addition.. art of <br /> F <br /> the Pt elr M convey to the City the p_ocert+ descri:,ed as "C ..K <br /> ' �u plc t <br /> at Thec nvevzrce of Cutlet <br /> .w^u bein Lieu. of _ars dedication fees. <br /> Seller will also, agree as part of the Final Plat process that the ftZture detention <br /> roind to be constructed on the northern-carton of CL'ict A i-U be constructed <br /> a: s sale cost and e:^ense and will be cc.:5`. cted according to Buyer's <br /> SzeC=-. �OnS The for respansfoilit-. ;-*a �._..2"ca of the detention nand �::be that of the owners of Lots and 2. Maintenance. of the pond. will be in City <br /> standards,ds, ,olives and _7:rocs-du:es. <br /> 13.5 This contract bed er n dlaws p <br /> Minnesota. c e "=� the f the State of <br />