1992-04-20 Petition for Local Improvement & Agmt to be Assessed
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CITY or ALBERTVILLE
~9YK'8 ~IFTH ADDITION
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Petition For Looal Improvement and A9r~~m~nt To Rp- Assessed
Douglas P. Payk and ~eatrice !. psyk (her~aft~r referrp-d to
collect! vely as "Developer"), owners of 100% of the prop9rty
described in Exhibit "A", County of Wright, Qtate of Minnegota,
hereby petition ~hftt the above described property be improvQd and
be assessed 100% of the cost of the improvements, inoluding
construction costs, engineering foeo, bonding f~9S and exp~ns~s,
attoruey's fees, and other oosts inourred by the city of
Albertville relating to the improv~ments to the above d~sorib~d
property, . including expenses !rieurred in platting the prop~rty
(including all engineer's faos), grading, road con~truotion
oonsisting of excavation, nggregato bane, and bituminous surfacing,
oonstruction of concrete curbs and gutters, munioipal water
raoilitieM, . sanitary sowor fao.!lit.i.Eu!!l, st.orm sewer faoilit.iee,
ponding, and other suoh improvomontc t.o the land carried out by the
city of Albert.ville.
Furt.her, it is understood by and between the Dev~ loper ahd the
city ot Albertville that t.he oonstruction improvemeni:.s will benefit.
the property. The benefit to the properi:.y will be grent.er t.han the
oonmtruotion oosts as a9t out. abov..
Further, Dovoloper hereby
a~ses6ed 100' of the cost of
described property.
waiv~s any objection to
i:.he project against t.he
being
abovo
Developer hereby waivoc itc right of apPQal to the District
Court herein, pursuant:. to Minnesota statute 4~g.091.
Further, the spreading of the assessment against th9 above
uar"oribed pl-operty shall be in the beet interest of the cit.y of
Albertville. 'rhe assessmellt shall be ngtd.hst t:he above described
property as ~ whohs. Jh)we'vt\1: I if m\lt.u"lly agreed, a division of
assessment may be made tlCJ~il1at the property with the consent of the
Developer herein and the city 0' Albertville.
Developer will IIubmit to tho City of l\lb~rtvl11~ a bond or
irrevocable le~ter of or.dit in an amount to be determined by the
city Council priol.& .to the si9nin9 of a Developer's Agreement.
between the Developer ftnd the City. The bond 01. irrevocable lei:.i:.er
of oredit shal~ be approved by the Ci~yAi:.i:.orney and submitted to
the Oity Oounc11 ~o ihsure thnt the assessment.s ar~ paid eaoh and
Avery year when due and' payable,
Further, Developer, for valu~ rec9iv9d, guara~teeg the payment
of the assessment due and payable in eaoh and evo~y yoar or at any
time thereaftel-, and hereby agrees and consents to all of the
stipUlations oontained herein.
Dated ~~-<~2___ d.tJ
ooIla~yo/-
, 1992
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Beatr oe E. Psyk )
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