|
1987484.v5 2
<br />WHEREAS, the City of Saint Anthony (“City”) and Ste. Marie Company, St. Anthony's
<br />predecessor in interest, entered into that certain "Corrective" Stormwater Maintenance and
<br />Easement Agreement dated as of May 6, 1996, filed July 21, 1997 with the Ramsey County
<br />Recorder's Office as Document No. 3003211, as subsequently amended and restated pursuant to an
<br />Amended and Restated Stormwater Maintenance and Easement Agreement dated April 30, 2004,
<br />recorded August 26, 2004, as Document No. 3786716, as amended by the First Supplement to
<br />Amended and Restated Stormwater Maintenance and Easement Agreement dated October 19, 2004,
<br />recorded October 20, 2004, as Document No. 3801284, the Second Supplement to Amended and
<br />Restated Stormwater Maintenance and Easement Agreement dated April 13, 2005, recorded on May
<br />26, 2006 as Document No. 3951512, and as affected by the Assignment and Assumption Agreement
<br />dated February 24, 2012, recorded February 29, 2012 as Document No. 4322217 (collectively, the
<br />"Amended Stormwater Maintenance Agreement") benefiting the Silver Lake Village Property and
<br />certain other adjacent properties and burdening the Outlots and other land with easements,
<br />covenants, conditions and restrictions; and
<br />WHEREAS, pursuant to Section 5 of the Amended Stormwater Maintenance Agreement,
<br />any additional party granted the right for a nonexclusive drainage easement into the Outlots shall be
<br />required to execute any and all documents reasonably necessary, including a supplement to the
<br />Amended Stormwater Maintenance Agreement to set forth its agreement to pay its proportionate
<br />share of the Common Expenses (as defined in the Amended Stormwater Maintenance Agreement)
<br />and such party shall thereafter promptly pay any and all invoices for such Common Expenses
<br />pursuant to the terms of the Amended Stormwater Maintenance Agreement; and
<br />WHEREAS, Section 9 of the Amended Stormwater Maintenance Agreement provides that
<br />it may be amended by an instrument signed by the Owners of the majority of the "Lots" included in
<br />the "Property" (as those terms are defined in the Amended Stormwater Maintenance Agreement),
<br />and approved by the City, and, so long as the City does not own the Outlots, the Owner of the Outlots;
<br />and
<br />WHEREAS, the Parties are the Owners of a majority of the Lots included in the Property,
<br />and Silver Lake Apache, Silver Lake Village and Doran III are the Owners of the Outlots; and
<br />WHEREAS, the Parties wish to memorialize their agreement herein with respect to
<br />supplementing the Amended Stormwater Maintenance Agreement to include Stinson as an "Owner”
<br />and the Stinson Property as a part of the Property subject to and benefitted by the Amended
<br />Stormwater Maintenance Agreement and to allocate the cost proportionately to each of the parties
<br />for the Common Expenses, as more fully set forth and described below.
<br />NOW, THEREFORE, in consideration of the mutual covenants contained herein and for
<br />One Dollar ($1.00) and other good and valuable consideration, the receipt and sufficiency of which
<br />are hereby acknowledged, the Parties hereto hereby agree as follows:
<br />1.All defined terms not expressly defined herein shall have the meanings ascribed to
<br />them in the Amended Stormwater Maintenance Agreement.
<br />2.Doran III and Leased Housing grant to Stinson, for the benefit of Stinson and the
<br />Stinson Property, a perpetual, non-exclusive easement over, under and across the Leased Housing
<br />Property and the Doran Property for the connection to and use of storm water drainage facilities
<br />located on the Doran Property and Leased Housing Property, subject to the terms and conditions set
<br />forth in this Agreement. The Parties agree that, upon execution and recording of this Agreement, the
<br />38
|