Laserfiche WebLink
<br /> 2 <br />improvement; and, <br /> WHEREAS, it is the policy of the City to enter into development contracts as contemplated <br />in Minnesota Statutes §462.358, Subd. 2(a), and is undertaking the project based upon Victor Land <br />Holdings, LLC, undertakings expressed herein; and, <br /> WHEREAS, the parties hereto desire to set forth their respective rights and obligations. <br /> NOW, THEREFORE, in consideration of the premises and of the mutual promises and <br />conditions contained herein, it is agreed by the parties hereto as follows: <br />1. Owner will be assessed the following costs pursuant to the draft Amortization <br />Schedule attached hereto as Exhibit B. The owner agrees that the assessment amount may increase <br />or decrease when constriction bids are awarded including total project costs. <br />2. Victor Land Holdings, LLC. consents to the payment of assessments levied upon <br />the Property, if any, and waives and releases, on behalf of themselves and their successors in title, <br />the right to appeal from or challenge any assessment whether under Minn. Stat. § 429, state or <br />federal constitution. <br />3. Warranty of Title. Victor Land Holdings, LLC warrants and represents to the City <br />that they are the fee owner of the Subject Parcel described herein and that they have the authority to <br />execute this Assessment Agreement and agree to the conditions hereof. <br />4. Binding Effect. This Agreement shall be deemed to be a restrictive covenant and <br />the terms and conditions hereof shall run with the lands described herein, and be binding on and <br />inure to the benefit of the heirs, representatives and assigns of the parties hereto, and shall be <br />binding upon all future owners of all or any part of the subject property, and shall be deemed <br />covenants running with the land. Reference herein to Victor Land Holdings, LLC, if there be more <br />than one, shall mean each and all of them.