2018-09-30 Email from Mike Couri - Karston Cove 5th Mylars Kim Olson
From: Mike Couri <mike@couriruppe.com>
Sent: Sunday, September 30, 2018 6:16 PM
To: Tate Baxter; Kim Olson;Adam Nafstad
Cc: Tina Lannes
Subject: Re: Karston Cove 5th Mylars
Attachments: Partial Release of Mortgage, Outlots A & B, Karston 5th.doc; Subordination Agreement,
Karston 5th .doc; Deed to City, Outlots A & B, Karston 5th.doc
Kim,
Attached is the deed to the City for Outlots A and B for Karston Cove 5th Addition. I have examined title to the property via
the Wright County Recorder's website and title since the filing of the original Karston Cove 4th Addition plat and it appears to
be good in the name of Centra North, LLC,subject to what appears to be a mortgage on the property in favor of Kleinbank
that was placed on the property in August, 2018. I have also attached a mortgage subordination agreement(subordinating
the mortgage to the developer's agreement)and a partial release of mortgage (releasing the mortgage from Outlots A and B
that are being conveyed to the City).
The following remains to be completed prior to release of the plat:
1. The deed conveying Outlots A and B to the City needs to be signed by Centra North and notarized, but the date at the
top should remain blank and will be filled in as the same date as the plat is recorded. The deed should be recorded
after the plat is recorded.
2. We will need the partial mortgage release (releasing the mortgage from Outlots A and B)to be signed and delivered
to the City.
3. 5-- - . . .: •-•'-. • -- is plat as it was fully paid with the Karston Cove 3`d Addition
plat._--
4. City needs to collect an Administration Fee of$375.17...5
5. gunk t eiar an€1,e.4r f_ were collected in-futiwith the-3rd Addition plat. None need be collected for this plat
6. The Ci eels o e given edit in the amount of$108,750. The language of the LOC must be approved
Td myself.'
a. byan
The Developer's Agreement needs to be signed by the City and Developer.
8. We need the attached mortgage subordination document to be signed and delivered to the City.
9. The Developer will need a consent to plat form signed by Kleinbank(the mortgagee)since Kleinbank is not on the
final plat as a signatory. I have not drafted that and assume that the Developer will provide a signed form to the
/''�County Recorder, but we will need to see that signed form before releasing the plat.
I' 10.E Tina should check to make sure that no special assessments are outstanding(for mowing the lot,for instance), and
Its )hat we are not going to be assessing any costs later this year. If any are outstanding or will be assessed,they will
need to be reallocated among the newly-created lots.
Once the above items are completed,the Developer will need to determine how the plat will be recorded. If the Developer
will use a third-party closer,we can release the plat to the closer with detailed recording instructions that I will prepare in the
form of a letter to the closer. If the Developer is going to record the plat itself,then someone from the City will need to
accompany the Developer to make sure that all documents get recorded properly. The order of recording should be as
follows:
1. Plat 'U '`'r'
2. Consent to Plat .pc,,e.
3. Developer's Agreement Ge-,/
1
.it
4. Subordination Agreement "' .'":\ 1569-
5. Deed to the City
6. Partial Release of Mortgage
7. Any other documents the Developer wants to record.
Please feel free to contact me with any questions you may have. Thank you.
Michael C. Couri
Couri &Ruppe, P.L.L.P.
705 Central Avenue East
P.O. Box 369
St. Michael, MN 55376
763-497-1930
From:Tate Baxter<tate.baxter@centrahomes.com>
Date: Friday, September 28, 2018 at 9:55 AM
To: Kim Olson <kolson@ci.albertville.mn.us>, Mike Couri <mike@couriruppe.com>, Adam Nafstad
<anafstad@ci.albertville.mn.us>
Subject: Re: FW: FW: Karston Cove 5th Mylars
I will have mylars signed Monday afternoon and can run them into the City offices on Tuesday
morning.
Tate Baxter
11460 Robinson Dr NW
Coon Rapids,MN 55433
(612)284-8491 Direct
(763)954-0942 Cell
On Wed,Sep 26, 2018 at 12:46 PM Tate Baxter<tate.baxter@centrahomes.com>wrote:
All,
I talked with the County Surveyor today. They want us to record the Easement Vacation document
and the Mylars at the same time. They will hand write the document number of the easement
vacation on the mylars for the final plat (as Adam said).
I have asked Carlson McCain to get me the mylars.
Do we have the Easement Vacation document put together yet?
Tate Baxter
11460 Robinson Dr NW
Coon Rapids,MN 55433
(612)284-8491 Direct
2