Laserfiche WebLink
29 <br /> EXHIBIT B <br /> DECLARATION OF RESTRICTIVE COVENANTS <br /> This Declaration is made and executed as of the day of , 2001, by <br /> Meridian St. Anthony, L.L.C., a Minnesota limited liability company ("Declarant"). <br /> WHEREAS, Declarant is fee owner of the following described premises located in the County <br /> of Hennepin, State of Minnesota(the "Property"): <br /> WHEREAS, the Housing and Redevelopment Authority in St. Anthony, Minnesota(the <br /> "HRA") has entered into a Redevelopment Agreement, dated January 9, 2001 (the "Redevelopment <br /> Agreement"), with the Declarant. The Redevelopment Agreement provides for certain aid and <br /> assistance to be provided by the HRA in connection with acquisition by the Declarant of the Property <br /> and the construction by the Declarant of a retail store and related improvements on the Property; and <br /> • WHEREAS, Section 6.1 of the Redevelopment Agreement provides for this Declaration to be <br /> executed by Declarant and for this Declaration to be filed of record in the real estate records. <br /> NOW, THEREFORE, in consideration of the foregoing and in compliance with its obligations <br /> under Section 6.1 of the Redevelopment Agreement, Declarant, for itself, and its successors and <br /> assigns, does hereby declare that the Property shall be owned, used, occupied, sold and conveyed <br /> subject to the following covenants and restrictions: <br /> 1. The Property shall not be exempt from real estate taxes notwithstanding the ownership <br /> or use of the Property. <br /> 2. The Property shall not be sold, transferred, conveyed or leased to any of the following <br /> parties: <br /> (a) An institution of purely public charity; <br /> (b) A church or ancillary tax exempt housing; <br /> (c) A public hospital; <br /> • B-1 <br />