CC PACKET 04261983 - Laserfiche WebLink

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EXHIBIT A 3. Grantee shall promptly begin and diligently prosecute to completion the development of the Parcel through the construction of certain Minimum Improvements thereon (as FORM OF DEED provided in the Agreement) and such construction shall be i completed in accordance with the Agreement. THIS INDENTURE, between the HOUSING AND REDEVELOPMENT 4. Promptly after completion of the Minimum AUTHORITY OF ST. ANTHONY, MINNESOTA, a public corporation in Improvements in accordance with the provisions of the the City of St. Anthony, County of Hennepin, State of Agreement, Grantor shall furnish Grantee with a Certificate in Minnesota, Grantor, and ARKAND PARTNERSHIP, a general the form attached to this Deed. as Exhibit 1. The Certificate partnership under the laws or Minnesota, Grantee, shall_ be conclusive evidence of satisfaction and termination of. the agreements and covenants of the Agreement and of this Deed WITNESSETH, that Grantor, in consideration of the sum with respect to the obligations of Grantee and its successors . of Dollars ($ ), the and assigns to complete construction of the Minimum receipt whereof is hereby acknowledged, does hereby grant, Improvements, it being the intention of the parties that upon bargain, quitclaim and convey to Grantee, its successors and the granting and filing of the Certificate that all assigns, forever, all the tracts or parcels of land lying and restrictions and reservations of this Deed and the Agreement be being in the County of Hennepin and State of Minnesota forever released and terminated. described as follows:, 5. If Grantee shall, prior to the recording of the Certificate, default in any one or more of the obligations set forth in Section 9.3 of the Agreement and shall fail to cure the default within the period therein specified, then Grantor shall have the right to re-enter and take possession of the Parcel and terminate and revest in Grantor the estate conveyed by this Deed subject to the terms and conditions of the Agreement, and Grantor's title shall h . ¢ uh;Per to all Mortgages annrove nursuaIt to a areement. 6. The property herein described is conveyed subject To have and to hold the same, together with all the 'to the covenants and restrictions get-forth on Exhibit 2 hereditaments and appurtenances thereunto belonging or in attached hereto and made a part hereof, which shall, remain in anywise appertaining, to the said Grantee, its successors and effect until a date 30 years after the date hereof,'at which assigns, subject to the following: time said covenants and restrictions shall terminate. 1. The covenants, conditions, restrictions and I IN WITNESS WHEREOF, Grantor has caused this Deed to be provisions of a Redevelopment Contract dated as of duly executed in its behalf by its Chairman and its 'Secretary 1983, entered into between Grantor and Grantee (the and has caused its corporate seal to be hereunto affixed "Agreement"), which Agreement is incorporated hereby by this day.of 198_. reference. • 'HOUSING'AND REDEVELOPMENT AUTHORITY 2. Grantee shall not convey the property herein OF ST. ANTHONY, MINNESOTA described ("Parcel") in violation of the Agreement, or any part thereof, without the prior written consent of Grantor until a Certificate of Completion (the "Certificate") releasing Grantee I By from the obligations of the Agreement as'to the Parcel has been Its Chairman recorded. This provision, however, shall not prevent Grantee from mortgaging the Parcel in accordance with the Agreement. BY Its Secretary By Its Executive Director