2000-12-01 2nd Plat Land Title Letterli"10i-ini010 1pN~.aarrv rnuw ~.vurt ~ r1~1.rN~~~w, ... --------- .--
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December 1, 2000
CIA FACSIMILE
1vlr. Lariy Mountain
La:td Title, Inc.
1900 Silver Lake Road
Suitt 200
Nevrt. ~right+an, MN SS 112
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Res. City of Albertville= Mooney Addition.
Dear I1+1r, Mountain;
As we discussed on the phone today, the Mooney Addition plat has received final
approval by the Ciry of Albertville, The original plat had been sig~~td by all necessary
City. officials, but= due to a change in ovmership, a second plat has been drown up for
execution by the City and the ourrtnt awntrs fit is my understanding that tht saao»d pint
is idoaticai to t1~e first iii all rGSpects txcept for the signature line of the new owtura).
Titc ~ixtt plst will be destroyed and will oat be recorded.
Lint`ortunately, the City's Mayor is out of the country until sometime Wednesday
eveai~ng,, and will not be able to sign die new plat in time for your scheduled Monday
cloning. Hecause the seao»d filet is identical to the first in all material respects; the City's
approval of rho original plat carries forward to the 8ocond plat, and 1 anticipate that the
Mayor wall nigh that plat upon his return,
As we also di'cusned,l am revising the [eve{oiler's Agreement so that Albertville
plaza, LLC is the Developer who will enter into the ~eament witlr the City (this is
required ainoe Albertvillo Plaza is the record owner on thG second plat). 1 anticipate that
the following wilt occur in rogard to the closing;
], Albertrrllle Plaza will finish the closing on the prapet'ty on Monday, caking John
t"teorge, inc. out of the picture.
2. Albertv111e Plaza, MDC Albertville and Millwood DovGlopment, LLC will provide the
City with an asslgunent agreement whereby Albertville Plaza agrees tc, jointly assign
its rigk~ta and obligations in the Devtlaper'a Agreement to MT~c" Albertville and
12-01-2000 0a~37PM FROM Court & Mao~thur TO 651638199A P, 03
_~
~. Mr. ~Y MOUntain
December :l, 2800
Page 2 of Z
Mlltwood I~dvelopment, thereby releasing Albertville Plaza from all rtspo~ibilities
under the Devolopcr'z Agreement upon transfer afttte properties to MDC Albertville
And Millwood Development, i expect the City to approvt this ttssi$runent at its
December 4, 2000 meetutg.
3. Albemville Plaza will provide.the ,City with a request to reallocate the existing special
assessments against the Mooney Addition property betwc¢n Lnt 1 and Cutlet A in a
ratio determined by Albertville Plaza and/or MDC Albertvillt and/or Millwood
Development, l cxpttt tht City to approve this realloaatian at its rieoembrr 4, 7000
meeting,
4, Albertville Plaza will Sign the Developer's Agreement and the second plat; which in
turn will be signed by the Mayor late Wednesday.
S. MDC Albertville, LLC will provide the City with pArk dedication fees for t,ot 1,
Block 1 of MooaGy Addition And the necessary letter aferedit required by~the
Developer's Agreement. .
6, The City will then release the plat and Developer's Agt~eeme7tt to you for recording.
7; The plot will be recorded ixri»tediately after the deed which puts Albe~~tville Plaza in
title. The Developer's Agreement will be recorded immediately after the plat,
8. Albottvitle Plaza wilt then decd Let 1, Block 1 to MDC Albertville and ~utlot A to
1-dillwaad pevtlapmeitt, L1.C.
9. The Assignment of Developer's Agreement responsibilities will then be recorded.
it is my understanding that you will record these documents in the order de$ci;bed
about as soon as practicable after Wednesday, December 6th. !f this is not the cast,
please contact mo immediately as to how ynu plan to proceed.
I will draft the Assigsunent of peveloper's Agreement and forwArd it to you, Ron and
MArk As soon as it ifi eomplGtcd an Mariday. l have already forwarded tht final
Developer's Agreement to Ran Gn~ath far his review, and have discussed this sequence
with Ran and Mark Mooney, Ron will work with the Miliwaod Development people to
oaordifiate that end of the, erensa.ctio~~. 1 will need a simple written request from
Albertville Plaza to reallocate the specials, and will look to Ron to provide that to me
early Moaday. Please call me with any questions you may bAVe r4garding this matter.
T'b-ank you,
CC: ~bti ~t'pth
~lviatk ~Maoney
~incerel
Michael C. Couri
Lauri ~c MAC~4rthur
TOTpL P.03