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RESOLUTION NO. 2008 - 40
<br />NOTICE OF THE CITY OF HUGO ACTION REGARDING INCOMPLETE
<br />IMPROVEMTNES FOR THE PLAT OF GENERATION ACRES
<br />WHEREAS, the City of Hugo is a political subdivision, organized and existing under the
<br />laws of the Stat of Minnesota; and,
<br />WHEREAS, the City Council of the City of Hugo has adopted zoning and subdivision
<br />regulations, per the Hugo City Code, Chapter 320, to promote the orderly, economic and
<br />safe development and utilization of land within the City; and,
<br />WHEREAS, Generation Acres, LLC, and the City of Hugo were parties to that certain
<br />Developer's Agreement Dated September 6, 2005, and recorded with the Washington
<br />County Recorder on September 13, 2005, as Document Number 3539138 and
<br />concerning the plat of Generation Acres, Washington County, Minnesota, as legally
<br />described in Exhibit A; and,
<br />WHEREAS, Generation Acres, LLC. As the developer under the said Developer's
<br />Agreement provided to the City of Hugo an Irrevocable Letter of Credit Number 200357,
<br />Dated August 25, 2005, in the amount of $135,501.30, said Letter of Credit was issued
<br />by Lakeland Construction Finance, LLC ; and,
<br />WHEREAS, in accordance with Section 4 of the said Developer's Agreement Generation
<br />Acres, LLC. has failed to complete the improvements within the plat of Generation
<br />Acres; and,
<br />WHEREAS, the City of Hugo in accordance of Section 4 of the said Developer's
<br />Agreement, and per the terms of the said Letter of Credit did on August 22, 2008 attempt
<br />to draw on the Letter of Credit the amount of $135,501.30; and,
<br />WHEREAS, Lakeland Construction Finance, LLC has failed to honor the said Letter of
<br />Credit, and to provide to the City of Hugo the requested draw of $135,501.30; and,
<br />NOTICE IS HEREBY GIVEN by the City Council of the City of Hugo:
<br />1.) That no permits, applications, requests, approvals, inspections or
<br />authorizations, including, but not limited to, building permits, inspections, approvals of
<br />deeds or transfers, mortgage, conveyance, certificate of occupancy, certificate of
<br />completion, or other municipal action shall be issued in connection with the plat of
<br />Generation Acres and the same shall be withheld.
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