Agenda Packets - 2009/10/26 - Laserfiche WebLink

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1 its rights to notice and a public hearing on the levy of special assessment against the Property to finance the Assessment. The Association also understands that Minnesota Statutes Section 429.081 gives it the right to appeal the levy of special assessments against its property. The Association hereby waives its right to appeal the levy of special assessments that are levied in accordance with the terms of this Petition and Waiver Agreement. The Association hereby waives any requirements of Chapter 8 of the City Charter, Title 202 of the City Code or Minnesota Statutes Chapter 429 with which the City does not comply. The Association hereby agrees that the increase in fair market value to the Property resulting $om the construction of the Improvement Project will be at least equal to $415,000.00 and that the increase in fair market value is a special benefit to the Property. The Association hereby agrees that assessment of 100 percent of the cost of the Improvement Project against the Property is reasonable, fair and equitable and there are no other properties against which the cost should be assessed The Association represents that the Property is not classified for tax purposes as to result in deferral of the obligation to pay special assessments. The Association agrees that it will take no action to secure such tax status for the Property. The Association further agrees that the payment of the Assessment will continue to be its personal obligation until it is paid and it will pay any part of the Assessment which the City is unable to collect through special assessments. The Association understands that the covenants, waivers and agreements contained in this Petition & Waiver shall bind any successors or assigns of the Property and shall run with the Property and bind all successors in interest. This document may be recorded with the land records of Ramsey County against the Property. i 3386070 SJSMU21043