2007-07-25 Cover Letter for DA08/03/2007 16:20
763-497-2599
,Jt~ichae! C. Couri•
A~~tirewJ. ,MacA.rthur
Robert T. Ruppe••
'Also /ickns~d In 1!lMr>tr
• •.~lxr. lara~rd ~ (:ul~~rnro
July 25, 2007
COURIMACARTHURRUPPE
COURI, MACAR~TUR &
RUPPE, P.L.L.,P.
AttorH~'s at ,Law
70S Centrol Avenue Easl
PO Box 369
Sr, Michael, MN SS376-0369
(763) 497-1930
. (763) 497-2599 (FAX)
courimacarrhUr@earth!!nk net
Lizada H. Fisher
Larkin Hoffman Daly & Lindgrezt Ltd.
1500 Wells Fargo Plaza
7900 Xerxes Avenue South
Minneapolis, Minnesota 55431
Kristen hT. Carr
Kyle R. ,~Tarlnetrf
R,e: Gity of Albertville; ,A-lbertville Marketplace/Morris Property.
Dear Linda:
PAGE 02/03
Please find enclosed two complete originals of the Development Agreement for
Albertville Marketplace for execution by your client. Once executed, please return both
originals to the City along with the origiuaal plat docU rents executed by your client. The
City will execute the Developer's Agreement aztd the plat after the following have been
provided to the Gity:
'~l~ Letter of czedit izt tlae amount of $723,250.00 from a bank or financing institution
acceptable to the Gity.
2. Paym.ez~t of all outstanding City invoices zelated to this project. The atz~-ount
outstanding should be requested from Tina Lamnes, City Finance Director,
immediately prior to payment.
Water trunk line fees of $9,628.00
An administrative fee of $10,445.75.
Park dedication fees of $47,560.00.
tel. A deed to Outlot B in the plat of Albertville Marketplace.
7. Executed copies of the perztaanent access and cross-parkizag easements between the
lots on the plat.
8. Executed copies of the Retail Property Owners' Association documents.
9. Subordination of mortgagc executed by Vermillion State Bank subordinating the
bank's mortgage to the Developer's Agreement, the perr~nanent easements anal tk,c
Property Owner's Association documents.
10. Partial release of mortgage fully releasing Outlot B from the mortgage_
~08/03l2007 16:20 763-497-2599 COURIMACARTHURRUPPE PAGE 03/03
.,
Linda ~. Fisher
July 25, 2007
Page 2 o f 2
l l . A written request to allocate the existing special assessments on the property to the
individual numbered lots in amounts certain (or set percentages) for each lot after
the plat is recorded.
Please note that the Ciiy will not release the plat anal other recordable documents to the
Developer unless a City employee accoimpanies the Developer to the County Recorder's
Office to ensure that all documents are recorded in the proper order. The City will,
however, release the plat to a title eonapany for reeordiztg with all other documents and
recording instructions. Please make arrangements with me as to hov-.} you wound like to
proceed.
The documents must be recorded in the following order:
1. Plat.
2. Developer's Agreement.
3. Mortgage Subordination.
4. Deed to Outlot B.
5. Partial release of mortgage pertaining to Outlot D.
6. Pert».anent easements.
7. Property Owners' Association Documents.
Please contact me if you have any questions regazding any o~the matters set out in this
letter, Thank you.
Enclosures
Cc: Larry cruse
Bridget Miller
Tina Lannes
Adam Nafstad
Sincerely,
1V,[icbael C. Couri
Couri, MacArthur & Ruppe, P.L.L.P.
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