2003-01-30 Assignment Agreement
ASSIGNMENT AGREEMENT
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This Assignment Agreement dated this 3o}t,day of January, 2003, by and between Pilot Land.
Development Company (hereinafter referred to as "Assignor"), and Woodside
{teaav (y€e~ J U"C. , (hereinafter referred to as "Assignee"),
,
Whereas, Assignee has acquired certain assets of Assignor including, but not limited to, certain
real property, pursuant to an Asset Purchase Agreement dated December 16, 2002; and
Whereas, pursuant to the terms of said Asset Purchase Agreement, Assignor is required to assign
its interest in that certain Development Agreement by and between Assignor and the City of
~, ("City") dated /V6l1em6ey ~~drecordedas document # 7f&i7S7; and
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Whereas, the assignment of the Development Agreement requires the consent and approval of
the City; and
Whereas Assignor represents that the Development Agreement is valid, binding, in full force and
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effect and not in default, and
NOW, THEREFORE, in consideration of the mutual covenants, a~eements and promises
contained herein, the parties agree as follows:
1. Assignor assigns all right, title, interest and entitlements in the Development
Agreement, subject to the requirements, conditions and covenants set forth in the Asset Purchase
Agreement to Assignee; and
2. Subject to the terms and conditions of the parties' Asset Purchase Agreement,
Assignees assume all rights, duties, obligations, surety requirements and entitlements in
. Assignor's interest in the Development Agreement.
ill witness whereof, Assignor and Assignee have executed this Assignment Agreement the day
and year fIrst written above.
ASSIGNEE
Woodside ~ (kek-I- LL(!
,
ASSIGNOR
Pilot Land Development Company
By:
CONSENT TO ASSIGNMENT
The City hereby consents and agrees to !he above-refe~enced assignment of that certain
Development Agreement by and between AssIgnor and the CIty dated'1114<.AJ'L.h~ /~ .:2-~~,1
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Dated: ~;~ ~. ~
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/3) CITY OF ALBERTVILLE DEVELOPER'S AGREEMENT
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Cedar Creek South Seventh Addition
THIS AGREEMENT, entered into this /;:IU day of y~, 2001 by and
between Pilot Land Development Company, Inc., referred to herein as "Developer"; and the
CITY OF ALBERTVILLE, County of Wright, State of Minnesota, hereinafter referred to as
"City";
WITNESSETH:
WHEREAS, Developer is the fee owner and developer of a parcel or parcels of land
described in Exhibit A, attached hereto and incorporated herein by reference, which
parcel(s) of land are proposed to be subdivided and platted for development, and which
subdivision, which is the subject of this Agreement, is intended to bear the name "Cedar
Creek South Seventh Addition" and may sometimes hereinafter be referred to as the
"Subject Property" or "Said Plat"; and
WHEREAS, the City has given preliminary approval of Developer's Development
Stage plan of Cedar Creek South Seventh Addition contingent upon compliance with certain
City requirements including, but not limited to, matters set forth herein; and
WHEREAS, the City requires that certain public improvements including, but not
limited to, grading, sanitary sewer, municipal water, stonn sewer (hereafter "Municipal
Improvements") be installed to serve the Subject Property and, further, to be financed by
Developer;
WHEREAS, the City further requires that certain on- and off-site improvements be
installed by the Developer within the Subject Property, which improvements consist of
paved streets, boulevards, top soil and sod, grading control per lot, bituminous or concrete
Return to:
1 Pilot Land Development Company
13736 Johnson Street NE
Ham Lake, MN 55304