2001-03-02 Plat Closing
Michael C. Couri•
Andrew J. MacArthur
Robert T. Ruppe••
*ALw licensed in t[6nois
**Aisa licensed in Cali~mia
March 2, 2001
Mr. Larry Mountain
Land Title, Inc.
1900 Silver Lake Road
Suite 200
New Brighton, MN 55112
COURI & MACARTHUR
Attorneys at Law
705 Ceiural Avenue East
PO Box 369
St. Michael, MN 55376-0369
(763) 497-1930
(763) 497-2599 (FAX)
couria~utmacarthur®pobox. com
Re: City of Albertville; Albertville Plaza Plat Closing.
Dear Larry:
This letter will. confirm the order in which documents are to be recorded relating to
the filing of the Albertville Plaza Plat, Developer's Agreement between the City of
Albertville and Albertville Plaza, LLC, and related documents, and sets out the items that
your company will receive from the Albertville Plaza, LLC and forward to the City after
the closing. The order of recording should be as follows:
1. Albertville Plaza Plat.
2. Albertville Plaza Developer's Agreement.
3. Declaration of Easements.
4. Maintenance Agreement by and Between the City of Albertville and The Owners of
Lots Within Albertville Plaza Addition For the Maintenance of Real Property Located
in the City of Albertville, Wright County, Minnesota.
5. Subordination Agreement from John George, Inc.
6. Any mortgages or other conveyancing documents.
The Plat, Developer's Agreement, Declaration of Easements and Maintenance
Agreements should be executed by the Developer at the closing, and all documents
should be dated as of the closing.
At the closing, you will need to collect the following fi-om the Developer:
1. An original letter of credit in the amount of $10,000 in substantially the same form
acid from the same issuing bank as shown in the attached letter of credit.
' Mr. Larry Mowrtain
March 2, 2001
Page 2 of 2
2. Cash or check in the amount of $40,027 for park dedication fees.
The letter of credit and $40,027 should be forwarded on to the City of Albertville, in the
care of Linda Goeb, City Administrator, P.O. Box 9, Albertville, MN 55301.
I am enclosing originals of the plat, Developer's Agreement, Declaration of
Easements, Maintenance Agreement and Subordination Agreement. If for any reason you
believe that you are unable to record the documents in the order listed, or if you are
unable to collect the letter of credit and monies listed above, then the City of Albertville
directs you to hold the plat on behalf of the City and not release it for recording.
I am also enclosing an original of a Special Assessment Reallocation Agreement
between the City and the Developer. This document should be signed by Albertville
Plaza, LLC and the original returned to me. I will forward it to the appropriate person at
the Wright County Auditor's office along with the City's official request to reallocate the
special assessments consistent with the terms of the Reallocation Agreement.
Please contact me when these documents have been recorded as directed in this
letter, and provide me with copies of all fully executed documents (except the plat).
Thank you.
Sincerely
~~
Michael C. Couri
Couri & MacArthur
Enclosures
~'
Cc: P~`,inda Goeb
Ron Groth