Agenda Packets - 1987/12/14 - Laserfiche WebLink

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C SCHEDULE H QUiT CLAIM DEED THiS INDENTURE, between The City of Mounds View, Minnesota, a municipal corporation (the "Grantor"), and Everest Development, Ltd., a Minnesota corporation (the "Grantee"). WITNESSETH, that Grantor, in consideration of the sum of One Dollar ($1.00) and other good and valuable consideration the receipt whereof is hereby en tits he acknowledged, does before grant,r, ll the tract oar parcel of land lying and being intclaim and ccnveY to the he successors and assignsas or par eof Ramsey l of land 1s hereinafter referred Minnesota a dethe scri'b'Prooerbll' follows, to wir. (such tree LEGAL DESCRIPTION To have and to hold the same, togetherwith all the to the reditsaidGrant a eaments els nd appurtenances thereunto belonging In anywise appertaining, successors and assigns, forever, Provided: SECTION 1. it is understoa9 0!"1 agreed that this Deed is subject to the covenants� between the conditions, restrictions and provisions of agreement , 198 , identified as Grantor and Grantee on the Y "Contract for Private Redevelopment" (hereafter referred to as the "Agreementas ") and that the Grantee shall not convey this Property, or any pert thereof sin the y or such permitted by the A¢reemeRLuntil a certificatet as of completion releasing the part (thereof thencertain do be conveyed, ations hassaid beeneemenplaced of to PrThistprovision, however, shall in no way prevent the Grantee from mortgaging this Property In order er, obtain funds for the purchase of the Property :,ereby conveyed and for erecting improvements thereon In conformity with the Agreement, any applicable redevelopment plan and applicable provisions of the zoning ordinance of the City of Mounds View, Minnesota It is specifically agreed that the Grantee shall promptly begin and diligently prosecute of the improvements thereon,velopment as provided f the Property rough the construc- tion the Agreement. Promptly after complthe etionrovements furnishntheyGrantee withwith thr provisions of the Agreement, tifying. Such certification the Grantor shall tio appropriate instrument so eell of (and (and It shall be so provided in the certIf! anon Issed cl covenants�of the Algreement satisfaction and termination of the agr and of this Deed with respect to the obligation of the Grantee, and its successors and assigns, to construct the improvements and the dates for the beginning and