2004-08-31 Agreement to Pay Fees
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AGREEMENT TO PAY FEES
WHEREAS, the City of Albertville ("City") has entered into a Developer's
Agreement ("Developer's Agreement") with Douglas and Beatrice Psyk (collectively,
"Psyk") relating to the develoP~~J.)~)O~~.~*k~s}~h/;,~~;~t!~?~J::.ge~]f~pment"); aft?:. e PI?/?
WHEREAS, the Developer's Agreement required Psyk to reimburse the City for
all development related fees incurred by the City related to the Development; and
WHEREAS, the City has incurred $13,903.96 in expenses related to the
Development which have not yet been reimbursed by Psyk; and
WHEREAS, Psyk desires to pay $11 )000.00 in fees related to the Development,
provided Psyk receives assurances from the City that payment ofthe $11,000.00 by Psyk
will fully satisfy Psyk's requirement to reimburse the City for fees and expenses incurred
to date related to the Development;
NOW, THEREFORE, Psyk and the City agree as follows:
1. Within 10 days of the execution of this Agreement, Psyk shall pay the City
$11,000.00 in complete satisfaction ofPsyk's requirement to reimburse the City
for fees and expenses incurred to date related to the Development.
2. Upon payment of said $11,000.00, Psyk shall be deemed to have fully satisfied all
expenses incurred by the City to date related to the Development.
Dated: 8/.3/ / (..: L{
CITY OF ALBERTVILLE
DOUGLAS PSYK
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Mayor
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Beatrice Psyk
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