CC PACKET 10131987 - Laserfiche WebLink

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Assessment Agreement, the,-Redeveloper shall have obtained the - signa.tu_re o,f . the _Hennepin County Assessor ..on the Assessor ' s Certification .portion of the Assessment Agreement . The Assessment Agreement shall. be in recordable form, shal-1 be promptly- recorded at Redeveloper ' s expense, and shall be prior to any Mortgage. Section 3 . 6 ., Real Estate Taxes and Special Assessments . On or before the date of closing of the sale of the Redevelopment Property to Redeveloper, HRA shall pay all real estate .taxes .due and payable with respect to the Redevelopment Property prior to the closing date, and Redeveloper shall pay all real estate taxes payable thereafter . At the time of closing; the amount -of real. estate. - taxes payable in the year of closing, ,shall be prorated between the HRA and Redeveloper as of the date of closing. The HRA shall convey the Redevelopment Property to Redeveloper free of any levied or pending special assessments . ARTICLE. 1-V Construction of Minimum-Improvements Section 4 . 1 Construction of Minimum Improvements . Redeveloper will construct -the Minimum Improvements without • encroachment onto any other :property all in- accordance with the Construction Plans and Time Table. Se.ct.ion 4 . 2 Construction Plans . Redeveloper shall submit Construction Plans to the HRA according to the Time Table . The Construction Plans shall provide for construction of the Minimum Improvements inconformity -with the Redevelopment Plan, the Proposal , this 'Agreement, and all agplicable 'state and local laws and regulations . The HRA shall approve the Construction P1'ans in writing if, in the sole discretion of the HRA, the Construction Plans : (a)* substantially conform to the proposal- and subsequent amendments approved by the HRA; conform to the terms and conditions of this Agreement ; (b) conform to the terms and conditions of the Redevelopment Plan; (c) conform to all applicable federal , state and local laws , ordinances, rules and regulations ; (d) are adequate to provide for construction- of- the Minimum Improvements ; (e) provide for demolition of existing buildings; (f) provide for minimum disturbance to neighboring properties during demolition of the existing buildings . and construction of the Minimum Improvements ; (g) do not provide for expenditures. in excess of the funds available to Redeveloper for the demolition of existing buildings and construction of the Minimum Improvements ; and (h) no Event of Default has occurred . • -9-