CC PACKET 07121988 - Laserfiche WebLink

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(d) The Deed shall be in recordable form and shall be • promptly recorded at Redeveloper ' s expense, except that the HRA shall pay the State deed tax thereon. (e) At the time of the delivery of the Deed, the Redeveloper and the HRA shall execute and deliver the Assessment Agreement . Prior to execution and delivery of the Assessment Agreement , the Redeveloper shall have obtained the signature of the Hennepin County Assessor on the Assessor ' s Certification portion of the Assessment Agreement . The Assessment Agreement shall be in recordable form, shall 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 payah7c thereafter. At the time of closing, the amount�of real estate taxes payable in the year of closing shall be prorated on a calendar year basis 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 IV 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. Section 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 in conformity with the Redevelopment Plan, the Proposal , this Agreement, and all applicable state and local laws and regulations . The HRA shall approve the Construction Plans in writing if, in the reasonable 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 -9-