HomeMy WebLinkAboutResolution 5258
.
.
.
RESOLUTION NO. 5258
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION NO. 5258 APPROVING A SUBSTITUTION OF PARTY FOR THE
DEVELOPER FOR THE DEVELOPERS AGREEMENT FOR THE SILVER LAKE
COMMONS PROJECT
WHEREAS, the CITY OF MOUNDS VIEW, a Minnesota municipal corporation (the
"City"), and MSP REAL ESTATE, INC., a Minnesota corporation and MOUNDS VIEW
FAMILY HOUSING LLC, a Minnesota limited liability company (collectively the "Developer")
did execute and enter into that certain document entitled "Developers Agreement" dated as of
February 11, 1998 (the "Agreement") which provides for an agreement concerning the
development of certain real estate located in Ramsey County, Minnesota, legally described as:
Lot 79 and 80 Spring Lake Park Hillview, Section 6, Township 30, Range 23,
Ramsey County, Minnesota.
WHEREAS, the parties constituting the Developer, MSP Real Estate, Inc, a
Minnesota corporation, and Mounds View Family Housing, LLC, a Minnesota limited
liability company, desire to substitute a new party into the Agreement as the Developer,
such new party being Mounds View Family Housing Limited Partnership, a Minnesota
limited partnership.
WHEREAS, Mounds View Family Housing Limited Partnership is comprised of
MSP Housing - Minnesota, LLC, a Minnesota limited liability company, and Milo S.
Pinkerton, an individual, as the General Partners of Mounds View Family Housing
Limit.ed Partnership.
WHEREAS, MSP Real Estate, Inc., Mounds View Family Housing, LLC and
Mounds View Family Housing Limited Partnership (and its ownership entities: MSP
Housing - Minnesota, LLC and Milo S. Pinkerton) desire to be bound by such
substitution of the party now constituting the Developer.
WHEREAS, pursuant to Section 3.05 of the Agreement executed by the City of
Mounds View, MSP Real Estate, Inc. and Mounds View Family Housing LLC, "the
Developer may not assign any of its obligations under this Agreement without the prior
written consent of the City."
WHEREAS, the City desires to consent to the assignment of the obligations and
the substitution of the party now constituting the Developer as set forth above.
SJR-148237
~1U21O-17
.
.
.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Mounds View
as follows:
A TIEST:
(SEAL)
SJR-148237
~IU210-17
1.
That the Mounds View City Council consents to the substitution of a new party into
the Agreement as the Developer, such new party being Mounds View Family
Housing Limited Partnership, a Minnesota limited partnership.
That the mayor and acting clerk-administrator are authorized to execute an
amendment to the Agreement, such amendment being entitled the First Amendment
to Developers Agreement, with such First Amendment being substantially in the
form as set forth in the attached Exhibit "A".
...,
....
Adopted this 10th day of August, 1998.
Duane McCarty, Mayor
d/~
~ike Ulrich,
Acting City Clerk-Administrator
.
.
.
EXHIBIT "A"
FIRST AMENDEMENT TO DEVELOPERS AGREEMENT
THIS FIRST AMENDMENT, made and entered into as of the _ day of August, 1998,
by and between the CITY OF MOUNDS VIEW, a Minnesota municipal corporation (the "City"),
and MSP REAL ESTATE, INC., a Minnesota corporation and MOUNDS VIEW FAMILY
HOUSING LLC, a Minnesota limited liability company (collectively the "Developer").
WITNESSETH:
WHEREAS, the parties did execute and enter into that certain document entitled
"Developers Agreement" dated as of February 11, 1998 (the "Agreement") which provides for an
agreement concerning the development of certain real estate located in Ramsey County,
Minnesota, legally described as:
Lot 79 and 80 Spring Lake Park Hillview, Section 6, Township 30, Range 23,
Ramsey County, Minnesota.
WHEREAS, the parties constituting the Developer, MSP Real Estate, me, a
Minnesota corporation, and Mounds View Family Housing, LLC, a Minnesota limited
liability company, desire to substitute a new party into the Agreement as the Developer,
such new party being Mounds View Family Housing Limited Partnership, a Minnesota
limited partnership.
WHEREAS, Mounds View Family Housing Limited Partnership is comprised of
MSP Housing - Minnesota, LLC, a Minnesota limited liability company, and Milo S.
Pinkerton, an individual, as the General Partners of Mounds View Family Housing
Limited Partnership.
SJR-148237
~1U210-17
.
.
.
WHEREAS, MSP Real Estate, Inc., Mounds View Family Housing, LLC and
Mounds View Family Housing Limited Partnership (and its ownership entities: MSP
Housing - Minnesota, LLC and Milo S. Pinkerton) desire to be bound by such
substitution of the party now constituting the Developer.
WHEREAS, pursuant to Section 3.05 of the Agreement executed by the City of
Mounds View, MSP Real Estate, Inc. and Mounds View Family Housing LLC, "the
Developer may not assign any of its obligations under this Agreement without the prior
written consent of the City."
WHEREAS, the City consents to the assignment of the obligations and the
substitution of the party now constituting the Developer as set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and obligations herein
contained, the Agreement is hereby amended in the following respects.
I. The preamble paragra.ph of the Agreement is amended to read as follows:
THIS AGREEMENT is made this 11 th day of February, 1998 by and between the
CITY OF MOUNDS VIEW, a Minnesota municipal corporation (the "City"), and
MOUNDS VIEW F.ANtIL Y HOUSING LIMITED PARTNERSHIP, a Minnesota limited
partnership (the "Developer").
II. Paragraph A of the Recital section of the Agreement is modified to read as follows:
A. The Developer is the fee owner of certain real estate located in Ramsey
County, Minnesota, legally described as:
Lots 79 and 80 Spring Lake Park Hillview, Section 6, Township 30, Range 23,
Ramsey County, Minnesota.
(Hereinafter referred to as the "Property").
SJR-148237
\il1'210-17
.
.
.
m. Except as specifically amended herein, the Agreement remains unaltered and in
full force and effect.
IV. The City may record this First Amendment and any amendments thereto with the
Ramsey County Recorder. TIle Developer shall pay all costs for recording, and shall pay
all costs of preparing this first amendment.
IN WITNESS WHEREOF, the City has caused this First Amendment to be duly
executed in its name on behalf, and the Developer (MSP Real Estate, Inc.; Mounds View
Family Housing LLC; and Mounds View Fami-ly Housing Limited Partnership) has
caused this First Amendment to be duly executed in its name and behalf on or as of the
date first written above.
THE CITY OF MOUNDS VIEW
By: Q;~ n~c~
Its: M~_ _
BY:~ J~
. I : Acting Clerk-Administrator
STATE OF MINNESOTA )
)SS.
COUNTY OF RAMSEY )
a The foregoing instrument was acknowledged before me this / I day of
tAft(;~ , 1998, by Duane McCarty and Mike Ulrich, the Mayor and Acting
Cle I -Administrator respectively of the City of Mounds View, a Minnesota municipal
corporation, on behalf of the municipal corporation.
~1!f5fU~~
Notary Public
SJR-148237
~1U21O-17
.
TRACY SANCHEZ I
NOTAA'( PI.IfIOO.MlNNESOTA
.,t'1 .. '......11...
.
.
.
.
MSP REAL ESTATE, INC.
By:
Its:
STATEOFMINNESOTA )
)SS.
COUNTY OF )
The foregoing instrument was acknowledged before me this
, 1998, by the
Real Estate, lnc, a Minnesota corporation, on behalf of the corporation.
day of
, of MSP
Notary Public
MOUNDS VIEW FAMILY HOUSING, LLC
By:
Its:
STATE OF MINNESOTA )
)SS.
COUNTY OF )
The foregoing instrument was acknowledged before me this _ day of
, 1998, by , the
Mounds View Family Housing LLC, a Minnesota limited liability company, on behalf of
the company.
Notary Public
SJR-148237
MUZIO-I7
.
.
.
MOUNDS VIEW FAMILY HOUSING LIMITED PARTNERSHIP
By:
Of: MSP Housing - Minnesota, LLC
Its: General Partner
By:
Milo S. Pinkerton
Its: General Partner
STATE OF MINNESOTA )
)SS.
COUNTY OF )
The foregoing instrument was acknowledged before me this _ day of
, 1998, by , of MSP Housing - Minnesota, LLC,
and by Milo S. Pinkerton, the General Partners of Mounds View Family Housing Limited
Partnership, on behalf of the limited partnership.
Notary Public
THIS DOCUMENT DRAFrED BY:
Kennedy.& Graven, Chartered (SJR)
470 Pillsbury Center
200 South Sixth Street
Minneapolis, MN 55402
(612) 337-9300
SJR-148237
MuZI0-17