2018-01-16 T.L. 7th 1st Amend. to PUD Agmt - Partially ExecutedCITY OF ALBERTVILLE
FIRST AMENDMENT TO CONDITIONAL USE
PLANNED UNIT DEVELOPMENT AGREEMENT
TOWNE LAKES 7TH ADDITION
WHEREAS, the City of Albertville ("City"), a Minnesota municipal
corporation, and HSB Ventures, LLC ("Developer") entered into an Agreement titled
"Conditional Use Planned Unit Development Agreement Towne Lakes 7th Addition"
("Developer's Agreement") dated December 7, 2017 and recorded as document
number 1360791 at the Wright County Recorder's Office, Wright County, Minnesota;
and
WHEREAS, Developer now desires to enter into this First Amendment To
Conditional Use Planned Unit Development Agreement to modify provisions related
to installation of landscaping and the uses of the letter of credit provided to the
City.;
NOW, THEREFORE, IT IS HEREBY AND HEREIN MUTUALLY AGREED, in
consideration of each party's promises and considerations herein set forth, as
follows:
1. Paragraph 4.17 shall be added as follows:
F. Developer shall cause to be installed on each lot, immediately
following issuance of an occupancy permit for a single family home
constructed on such lot, all landscaping required by the Towne Lakes
Community Association, provided, however, that is said occupancy
permit is issued after September 30th and before May 15th, Developer
shall have until the following June 1St to install said landscaping on
such lot.
2. Paragraph 7.A shall be amended to read as follows:
A. Periodically, as payments are made by the Developer for the completion
of portions of the Municipal Improvements and/or on- and off-site
Improvements, and/or landscaping improvements, and when it is
reasonably prudent, the Developer may request of the City that the
surety be proportionately reduced for that portion of the Municipal
Improvements and on- and off-site improvements and landscaping
improvements which have been fully completed and payment made
therefor, except that the landscaping portion of the letter of credit shall
not be reduced below the lesser of the following: 1) $20,000; or 2)
$2,000 per residential lot in Said Plat that does not have landscaping
installed as required by the Towne Lakes Community Association. All
such decisions to reduce the letter of credit shall be at the discretion of
the City Council. The City's cost for processing reduction request(s)
shall be billed to the Developer. Such cost shall be paid to the City
within thirty (30) days of the date of mailing of the billing.
1. Developer's Agreement. Except as specifically altered by this Amendment,
the terms of the Developer's Agreement, the First Amendment and the
Second Amendment shall remain in full force and effect for the properties in
Towne Lakes 6th Addition.
Dated this day of January, 2018.
CITY OF ALBERTVILLE,
B 12-tq6c^. _
Its M yor
4 j By
Its Clerk
HSB VENTURES, LLC.
By -
Its:
STATE OF MINNESOTA)
) ss.
COUNTY OF WRIGHT )
The foregoing instrument was acknowledged before me this day of
January, 2018 by Jillian Hendrickson as Mayor of the City of Albertville, a Minnesota
municipal corporation, on behalf of the city and pursuant to the authority of the City
Council.
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Notary Public
STATE OF MINNESOTA)
) ss.
COUNTY OF WRIGHT )
The foregoing instrument was acknowledged before me this day of
January, 2018, by Kimberly Hodena, as Clerk of the City of Albertville, a Minnesota
municipal corporation, on behalf of the city and pursuant to the authority of the City
Council.
Notary Public
STATE OF MINNESOTA)
) ss.
COUNTY OF WRIGHT )
The foregoing instrument was acknowledged before me this day of
. 2018, by the of HSB Ventures, LLC.
DRAFTED BY:
Couri & Ruppe P.L.L.P.
P.O. Box 369
705 Central Avenue East
St. Michael, MN SS376
763 497-1930
Notary Public
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