Laserfiche WebLink
MEMORANDUM OF UNDERSTANDING <br />Between <br />THE CITY OF HUGO <br />and <br />THE FABLE HILL HOMEOWNERS ASSOCIATION, INC. <br />MARCH 7, 2016 <br />This Memorandum of Understanding ("MOU") between the CITY OF HUGO, a <br />Minnesota municipal corporation ("Hugo'), and the FABLE HILL HOMEOWNERS <br />ASSOCIATION, INC., a Minnesota nonprofit corporation ("Association") (all parties <br />referred to collectively as "Parties" or referred to individually as "Party" or by their <br />designation as stated in this preamble) is entered into by the Parties with mutual intent, <br />understanding and agreement of the following terms and conditions: <br />WITNESSETH: <br />WHEREAS, the Association wishes and agrees that it shall donate funds in the <br />amount of Twenty Thousand Dollars ($20,000.00) ("the Funds") to Hugo for the <br />purposes and upon the terms and conditions set forth herein; and <br />WHEREAS, Hugo wishes to, and agrees that it will, accept the Funds for the <br />purposes and on the terms and conditions set forth herein; and <br />NOW, THEREFORE, for and in consideration of the mutual undertakings, <br />covenants and agreements of the parties set forth, the receipt and sufficiency of which are <br />acknowledged by each of the Parties, the Parties agree as follows: <br />1. Primary Purpose. The Association wishes to irrevocably grant the Funds to Hugo <br />for the primary purpose of funding the development and construction of a <br />playground structure at the unnamed park located at 4656 Fable Hill Parkway <br />("the Park"). <br />2. Anticipated Installation Schedule. Installation of the playground structure at the <br />Park shall commence in 2016. One public meeting shall be held to review <br />proposals from playground vendors in which residents of the Fable Hill <br />neighborhood shall be invited to give to input. Installation of the play structure, <br />concrete curb, and soft surfacing will be completed concurrently. <br />Date of Grant of Funds. The grant of Funds by the Association to Hugo shall be <br />made upon submission of an invoice from Hugo to the Association setting forth <br />the agreed Funds for the Park. The invoice shall include notification of the <br />