Agenda Packets - 2009/10/26 - Laserfiche WebLink

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4. The Association agrees that upon execration of this Agreement, it will execute the Petition and Waiver Agreement which is attached hereto as Exhibit B so that the City may assess 100 percent of the cost of the public improvement project against the Property. This assessment includes the cost incurred by the City for its legal expenses, including those associated with the negotiation and drafting of this Agreement and all other associated agreements and documents. 5 . The City agrees that it will proceed with the public improvement project provided that the lowest responsible bid received by the City for the public improvement project and administrative costs does not exceed $415,000. At that time, the Association shall execute the easement and obtain any necessary consents to the easement, prior to the City proceeding with the project. In the event that the costs exceed $415,000, the City is under no obligation to proceed with the project. In that event, the City and the Association may choose to renegotiate the terms of this Agreement and the Petition and Waiver Agreement. The City may also choose to terminate this Agreement and the public improvement project. 6. The City agrees that after the public improvement project is completed, it will continue to maintain, repair and replace the public improvements on the Property at the same frequency and level as is done for similar public improvements in the City. IN WITNESS WHEREOF, the parties have executed this agreement as of the day and year written above. SILVER LAKE WOODS CONDOXEMUM ASSOCIATION, IN(,C.�r Its: �� / --� s C el fin. STATE OF MINNESOTA ss. COUNTY OF E The foregoing instrument was acknowledged before me this day of 2008 by Ts c�,aa+, � ' 2 / ir%„ the �� ., of Silver Lake Woods Condominium Association a Minnesota n n profit eoaporation by and on behalf of the non-profit corporation. i §0 THOMAS N. THi6EDEAU 4XoPublic Notary Public-MinnesotaMV rOmmlmlon E� 3386070 SJS MU210-43 2