CC PACKET 01232024 - Laserfiche WebLink

Home Browse Search

1987484.v5 3 Stinson Property shall be subject to all obligations, conditions, and benefits of the Amended Stormwater Maintenance Agreement, as amended by this Agreement and as it may be further amended at a future date. Concurrently with the execution of this Agreement, Silver Lake Village shall give notice of this Agreement and the joinder of Stinson as a party to the Amended Stormwater Maintenance Agreement to all of those parties to the Amended Stormwater Maintenance Agreement who are not Parties to this Agreement. 3.The Parties acknowledge and agree that Silver Lake Village, as owner of the Silver Lake Village Property, has succeeded to the rights and obligations of St. Anthony under the Amended Stormwater Maintenance Agreement, including, without limitation, the administration of the provisions of the Amended Stormwater Maintenance Agreement and the collection of Common Expenses. The Parties further acknowledge and agree that, pursuant to the terms of that certain Amended and Restated Easement, Management and Maintenance Agreement, dated as of February 1, 2022, and recorded on February 28, 2022, in the Office of the County Recorder, Ramsey County, Minnesota, as Document No. A04935737 (“Amended Easement and Maintenance Agreement”), Silver Lake Village has delegated certain of its maintenance obligations under the Amended Stormwater Maintenance Agreement to the City, and the Parties consent to the delegation of the such obligations and to any future delegation by Silver Lake Village of all or any portion of its remaining rights and obligations under the Amended Stormwater Maintenance Agreement to the City or to Doran III (or its affiliates). Nevertheless and notwithstanding any such delegation by Silver Lake Village, for so long as Silver Lake Village owns any portion of the Silver Lake Village Property, absent an express assignment executed by Silver Lake Village that makes specific reference to the Amended Stormwater Maintenance Agreement and is recorded in the Office of the County Recorder, Ramsey County, Minnesota (an “Assignment of Maintenance Obligations”), Silver Lake Village, as “Maintenance Party”, shall retain all of the rights and remedies granted under the Amended Stormwater Maintenance Agreement to permit enforcement of the provisions of the Amended Stormwater Maintenance Agreement against any and all of the Owners. Silver Lake Village may, in its sole and absolute discretion, make an Assignment of Maintenance Obligations at any time while Silver Lake Village owns any portion of the Silver Lake Village Property, so long as the assignee under the Assignment of Maintenance Obligations owns (or acquires) any portion of the Silver Lake Village Property as of the date of such Assignment of Maintenance Obligations, whereupon such assignee shall become the “Maintenance Party” for all purposes under the Amended Stormwater Maintenance Agreement, with all of the rights and remedies granted under the Amended Stormwater Maintenance Agreement to thereafter permit enforcement of the provisions of the Amended Stormwater Maintenance Agreement against any and all of the Owners. 4.The definition of “Common Expenses” set forth in Section 1.a. of the Amended Stormwater Maintenance Agreement is amended to include all real estate taxes and special assessments levied and assessed against the Outlots. 5.The definition of “Drainage Facilities” set forth in Section 1.b. of the Amended Stormwater Maintenance Agreement is amended to include all drainage lines, pipes, catch basins and other stormwater improvements and facilities located on, or to be constructed within, the Outlots. 6.The definition of “Outlot Improvements” set forth in Section 1.d. of the Amended Stormwater Maintenance Agreement is amended to include all Community Amenity Improvements, as defined in the Amended Easement and Maintenance Agreement. 7.Subject to the obligations of the City to perform the “Amenity Maintenance 39