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04-26-2021 EDA
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04-26-2021 EDA
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4/23/2021 9:56:05 AM
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4/23/2021 9:55:41 AM
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MV EDA
EDA Document Type
Packets
Date
4/26/2021
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2 <br />DOCSOPEN\MU205\50\716385.v4-4/22/21 <br /> NOW, THEREFORE, in consideration of the covenants and the mutual obligations contained <br />herein, the EDA and the Developer hereby covenant and agree with each other as follows: <br /> <br /> ARTICLE I <br /> <br /> Definitions <br /> <br /> Section 1.1. Definitions. In this Agreement the following terms shall have the meanings <br />given unless a different meaning clearly appears from the context: <br /> <br /> “Agreement” means this Agreement, as the same may be from time to time modified, <br />amended, or supplemented. <br /> <br /> “Certificate of Completion and Release of Forfeiture” means the certificate, in the form <br />contained in Exhibit C attached hereto, which will be provided to the Developer pursuant to <br />Section 4.4 of this Agreement. <br /> <br /> “City” means the city of Mounds View, a municipal corporation under the laws of Minnesota. <br /> <br /> “Construction Plans” means the final plans for construction of the Minimum Improvements <br />to be submitted by the Developer and approved by the EDA. <br /> <br /> “County” means Ramsey County, Minnesota. <br /> <br /> “Date of Closing” means the date set forth in Section 3.7 of this Agreement or the actual date <br />upon which the conveyance of the Development Property closes. <br /> <br /> “Developer” means BIOCLEAN MOBILE WASH INC., a Minnesota business corporation, <br />and/or its successors and assigns. <br /> <br />“Developer Proposal” means the Developer’s submitted preliminary proposal to develop, <br />as set forth in Exhibit B and incorporated herein by reference as if fully set forth in this Agreement, <br />the Development Property with an approximately 3,500 square foot expansion to the Developer’s <br />existing facility on an adjacent parcel, which is more fully defined in the Minimum Improvements <br />and shall upon completion constitute the Minimum Improvements. <br /> <br /> “Development Property” means the real property upon which the Minimum Improvements <br />will be constructed, which property is legally described in Exhibit A attached hereto. <br /> <br /> “Development Property Deed” means the quit claim deed in the form attached hereto as <br />Exhibit D, by which the EDA will convey the Development Property to the Developer. <br /> <br /> “EDA” means the Mounds View Economic Development Authority. <br /> <br />“EDA Act” or “Economic Development Authority Act” means Minnesota Statutes, sections <br />469.090 through 469.1082, as amended.
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