1988 Development Agreement
19BB
by ",\r',d
bE~ t:\rJ\-2~2n
. ,
DEVELOPER'S AGREEMENT
\.!JEST\J4 I ND
THIS
{-'~GhEEYIENT "
entered into this
d.,~.y 01'
......, ,
.,.,....,.........,.,,..-......, ...."......,.,,-,.....,.....,.,...,..................... ""...."......................"........,.,...".,..............,.............--....,...,................,
r' f:.' l' l'? r' r' E.' d
t f.J t..! E?! t-. (0 in.::, S::. j j :0 €":: \/ E:: ]. C) f.:l E:~ Y" t I ;
<3.nci
the CITY OF ALBERTVILLE,
in
the County of Wright, State 01'
1./linnf2!,~ot<:l., hf.7.'r..ein~.i'.ftE.~r. r"f:?fE:".'t"'r'ed to cIS "C:.i.t.y",
~\J I TNE~3EiETH ~
~~t"iERE('.)E; "
Developer i~ the ~pp owner and developer 01' a parcel or
pal~c(,?ls c)f
1 <::l.nd
d ('2~:sc I" i bf:?d
.1.1'1 !::~;.:hib:i t
!1,::)11
,=,\ t tac hf.~d
hf!2rf2to l:~.nd
.incor"por'a tf::.'d
hf..:.'r'f:? i n
by reference which parcel or parcels of land are
pr"opo<;:;(7?d
tn developed as a subdivision
:loon
the L1. ':.::y,
and ~\Ihich
f:;:.u bei i \/ i f::. i em
:.ts ir',tf,:.'nded to bI!!2dl" thE.? nE,mf,:.' "\.!Je,,;twind" and mclV' somf::.'timf,?s
hF2t-f.7.'.inaft.F2r" b!':.~ 1'''f:~i:E~I''''l'''~:?d to a!s thE' ":::;ub..iect Pr'c)p~:?l'..ty" or' "[':;,='\id F;'lc,t";;
~::\nd
WHEhEAS, the City has given final approval of Developer's plat of
Westwind contingent upon compliance with certain City requirements
including,but not limited to, matters set forth herein; and
~\iHEF\EJ)3 ,
the City requires
that certain public improvements,
whict., are tlerei,n
r'f:,~tf.,;?l'''r'l::?d t.o df::; "Pf:.'ti t.ion I t.emf:::." inc 1 udint,:.!, bu. t not.
limi b~..'d
to,
f::.an i tar>')" Sf.~!A!E~r",
wc<. tel''' ,
storm sewer and
f::;tl'-eet.!:s bf2
inf::;t.:"\ 11 f;:.'d
to serve the Subject Property dnd other properties affected
hv
... /
the development ot
D<?2Vf:? 1 OpE~l'''' f::.
I ,:u'ld ,
all
at
t h(~.' E? >: I:H:?n :se 0 T
D~2Vf::.' 1 C.l Pf?:' 1'" ; ,,:tnd
t.!,iHEFEriS,
the City further requires that certain on and off-site
improvements be installed
by the Developer.
~'~Joo 'ch.1.n
thE? Sub'j f.::.'c t
I::: F' Ci f) f2 t'" t :l !i
which improvements t.ypically consist 01'
bou 1 F2V",,!....ds;od"
~~Ht=~:PE::PIE; "
thif:S (:lqt"€,.'(0~mpnt.:
.:t. '::; C~ n t c.? r' f~.' d
i n t. C) "f: () r"
thp ~:lUrpnSf? cd'
bituminous or concrpte driveway approaches, oralnsge swalps, berming
"",,nd
'f r" 0 n t. "y' ",II" d
tr'f::".'f,?s ',,"ind
like items and which improvpments tn the
Sul::'lj f2C t Propt,?I,..ty SI"'I':~ J 1 bf? l'-~:?-f('2l'''I'''E~d to hf.~l'''E~in a~::. "Esc l'''C)\rJ I tf.:::ms"; ""nd
':sf?t.tinq
forth and memorializing for the part.ies and subsequent owners
the understandings and agreements of the parties concerning the
development. 01' the Subjpct Properties;
NOv..) THEREFOPE,
IT
IS HEREBY AND HEREIN MUTUALLY AGREED, in
consideration of pach party's promise and considerat.ions hprein set
forth, as foJJows~
J , ~:::.I;.;J::.I.:IJ..QN. f::P.f;; J.t1E:.R.!:;}.\lfI..!J::::J,:Lr.~I JE:l;;:r.II.I.p.N~? IJ:.l;;tl~::Lt " De vel 0 pE.' r" hE.' t-. E?! i n
petit.ions the City to construct as part of the City's Improvement
F'r"clj E":'C:: t (f::;;'
1988-".1.(.~1 and
.1. 988-3A and/or other City prnjec::t dE?!emed
approp!'''i<:<.t.f? by the C.i.t.y t.he improvE~mf2nts r"f:?'fE~r"r'(7?d tel in E>:hibit "B'!
""nd dc':.'s.c r" i bed
t.heF'E~in
in
very generalized
1 ,::Inqu",\(]e a';:s" Pet.i. t.icJn
I t(7?mS", t1aid E>:hi b:i.. t "B ,. 'j ,:;;. <:-\t. t,:',.c hf?d hf:?!~f.~to C';'.nd incclr"pol''',::\tE'd hf~.'r"pin by
reference as thouqh fully set forth.
~'Jt! I VER "
..'...."m<'...'.".m..."'''...,
Developer walves all r-igtlt to a public hearing and
other statutory rights grant.ed to a property owner under Chapter 429
of Minnesota Stat.utes as the said rights therein granted related to
Pf::'t.i tion
Items, including those that are a part of Projec::t(s) 1988-1A
,3.nd 19B1:3-":~::A, as; SE~t fotoo.th in E>:I"',ibit "P",
.~) tl
E.:J;::.::L.tI.:!:.P.I:::!. J..::L~;:.t1.$.
E.:f.~.ThJl;:!::.:::I,,('~:~) }:.~1J~~J:::::..JJj bN.P. .:1::i.GG::::~;;.f:)" 'r hE:.' C it Y
shall construct as part of its City Improvement Project(s) 198B-It! and
J 9Em"-~:'(:1 a +.
its discretion all nr a portion of the Petition Items as
~Si"IOlrJn on I:::;.: hi bi t "B" pl...lr'suan t to i t:s n2qu 1 ar' mE."!:hodf::. cd: m,::\k inq publ ic:
impt'''c:lvf..:.'men t~:."
The DevE?!loper agrees that sppcial assessments for sdid
improvements may be levied by the City, without Developer's objpction~
after construction
'j ,::~ comml?ncE".'d"
The expense incurred or to be
incurred in making the improvement have been calculated under the
lie;l!
21, t tac hE:.'d
herlf.:".' to "
It
1. ~S
.in t:.I7?ndE?d
that Developer shall
m6".l.k(.:?
c:i i to" f:~~ C tic) f'1 Cl l'
t.hE Council"
'fh,,,:.' Ci t:v ":;h,,,\ll
t.- 1;'::.; r.:: 0 \/ i?:.-:: r"
i oj";;;; costs; and
f!:.'>:pen~5f.'?S
(:.i..nc ludinq
1~2q<~1 !'
fiscal, administ.rative and engineering);
said special assessments to be payable in equal principal inst.allments
together wit.h interest. thereon from the date of the resolution levying
t.he assessment as determined
by the City over a period of not more
than twelve (12) years.
i" "
t~:.f:;.:r.I.TJ..r).!:J. .L::rJ;;.!:~l~?
~.H7)gt::IY" It is ",\ntic::ip.,::~tl,:.'d tr"lcit tr"!f!:.' CitY"f:;;
debt service each year during the stated assessment period for the
in~5t",\11<:l.tion 01'
the Pf!!!t.i tion
Itf:.~'tfn~s D.S ~.:_~i"lC)~'~Jn in J:::i.~hir)it liE:';, th<::\t
portion of which benefits Subject Property will require an estimated
p2l. ymen t ( ,,; )
fl'''om
the City to its bondholders as indicated on Exhibits
SLt of"f j, C j, F:.~n t:
payments of said special assessments that the City's cash
1'low will be unaffected by said improvement project(s).
Developer herein agrees
that said Developer will actually pay
sufficient amounts 01' said special
assessments Each year, 1t not
,::,,1 r"f.~ad'y' paJ.d
in prior year, for properties lying within said plat to
enatlle tt,e City to pay
the required debt service payment shown on
E:-: h:i.. bi t
II [: II
when due. To determine tne actual amount, as opposed to
the estimated amount,
t:o hl.2 p2\id
Mv the Developer, the principal
,:':imount: sh,:'l.ll
Lf.7! c:1.ddf?:.'d
to the interest 2\mount,
"for"
thE' ~5ubjE..'ct
i rllpr'oVE.?mI7?rl t ,
pr"oj E:~ct"
~~ shown on the tax statements for lots lying
within Said Pldt,
). "::\ f:S !:;; c r' E:.' d j.t.
'f C) t...
prep2\yments made thereo"f" Any
dE'f ic ienc iE'S
J.n
thE'.' <:;\mount
. 4
pal.C,
1;-,"
thl,'2 Di!!.~vf'?lo!:'f2l"""
fOr'" ~spec::.ic~l
assessments causing a shortage 01' funds with which the City may timely
pay the required debt service payment(s) shall bE supplemented with
i'und~:" w.:i. thdr"a~o\jr'l
b\/
the City 1'rom the Developer's approved letter of
credit or other surety furnished to the City. Any of said surety or
(I Lt .;:~ f" {:::r. ""f t, "l c::. T
funds referred to herein that are withdrawn will be used
by
thf.:~ Ci ty
for payment of its herein referred debt service payment
';vhE,'n
dUE:.'"
Upon
thf.7.'
Developer paying
the delinquent special
assessments, the City will repay to the surety, to the extent that the
delinquent special
i::'r. ::; ~:; t::-:." '::, ~;;. fD ff:~ n t. ::.
h <;':'i, \1 f:'::: b E."! i::'::~ n
pc':iid"
the surety monies
f.,~S t.ima tee!
cost. of Pet.ition
I t(':?fn
improvements which ~rp
to r..ll'2
withdrawn, less any costs incurred by the City in conjunction with t.he
said delinquent special assessment.s"
The Developer shall provide the City with cash, approved letter
of credit or other satisfactory surety in the amount 01' 30% ot the
const.ructed as part of Project(s) 198B-IA and 198B-3A" The developer's
caf:sh "
bond;
let.ter of credit or other suret.y shall this be in the
amount of $200,000,,00, calculated as 1'ollows~
Total Estimated Cost of Westwind
~~695, l:j.'70 ~ E-jl.+
Plat Petition Items included in
Project 198B-IA and 1988-3 X 30%
Surety Requirement~ $208,641,,75
USE: $200,000.00
The said 30% Stlr-ety
is.
the guarantee referred to earlier in this
paragraph that sufficient revenue is annually produced by the required
debt service payment,
which debt service payment
t"'f:? 1 c\ tf.::!~:". to t:. !-'11!!2
pOI'..t:ion of Pr"ojE,'C:t:.(S) :l.(iB8""'1(':~ Ct.nd 19B8"-::::;{~ bf?nE~'fittir'lq thfc? development
C)f
t.hE.' ,,;aid
pl,,~.t.
The City may draw on said surety for cash flow
pl...tf"pOSE.'S
to ioSUPP 1 E.'mf!2n t.
the Developer's payments when Developer is
delinquent in the payment of said special assessments"
~j" 01":./. ('II\!!) qE"F.~.=.f3J.'TJ:::.. It!I'F.g:J'j~:t:ir::,:!'./,.'Tf:3.,/.F,~J3!=:f3,P~'J IJJ::.tI~3...;.. $!)et..::I\'.
A" Developer shall perform all on and off-site improvements ~pt
forth on Exhibit
":13"
C\S "Eo;cl'"otrJ ltf:?ms". D,~~vf2lop(,::~I" \rJi:l.l pr"o\/idf2 thE?
City with cash, approved letter of credit or other satisfactory surety
j. r~f
thE? ~:;um of
~\Ihic!'''l
figure represents 110% of the
estimated cost 01' said escrow
i tf::.'m<"; "
.'rt,e said SLtrety shall be a
qU.a!~ar'! t.y t.o thf!.~
r-:'j 1- \/
........ .."
t.h,::\ t: ~-\)i th t.hr:-;.,
f.,?:,,;cf?ption ot
bou:l. l'2v<:l.r'd
impl'''oVl'2fTll::2n ts
( s:.ods , 1:.: 1'"ef.:2i':; , c! r.' :.i. vf:?~"J,,:l.\i~':; ,,:\ppr'o,,:ic hE',"" and f::; t.t"'f."E? t ~::.iqns) thE:! c: onf:S t:.n..tc 1:.: i on
and completion of the escrow items by the Developer, to the City _
satisfaction, will be completed on or
b {:':;~ f CJ t... l?::~
."""..,,u orhe
bou,l f::vc,r"d
impl"ovE~mf2n ts
for each lot or parcel shall be completed to
the City's satisfaction within
f:,;i ;.: t.y
(60) days 01' the dat.e that a
certificate 01' occupancy
(temporary or permanent) is issued by the
C::ity
'f el 1'''
~l.
bet:i, 1 d inq
1 oc <"l. ted
on the lot; unless the certificate of
c:. c: c: L:'I:) .:::-\ n c: 'yf
.1. !S
. ,
.1. S. ~5 L.t E? (J
after October 1st and before March 30th in any
i:;;.i i \/ (-2 n \/ E' ~':' r" li
.l.n wh,ich caSf2
the boulevard improvements shall be so
complr::.\"i::.ed
hv the following June 1st. The said cash, letter of credit
or other surety shall be released upon certificdtion of the Engineer
of the City that such items are satisfactorily completed pursuant to
thi!,~ <:\l:.:ll'-C-::2E\m'~?nt.
Per"iodic:~.ll y,
as payments are made by the Developer
fol''' tl'''IE\ completion 0'1: pOl'''tion,,; of th~?:' i t:.r::~mf:; c:il,'2~scl'-ibE\d und~2r "f.::,:;cr"o~\j
Itc-:::!mf::." and ~\!hI7:"n it i<:;; t-'E:',:'\~sonabl\l pt"'u.c:lE'nt, thE~ :OE:'velc)pfi:.'t- m<.:I,/ t-equest eJi:
thE,\ Ci ty
that the surety be reduced for that portion of the project
wh:i.c h fldl,,, bf.':.'E"r\ "i"ell.l. y comp 1 f::~tf.':.'cl ,::\nd p.,"ymf!.~n t m'.::l.dc~ thE.'I"'E?tor" 'rhE~ Ci t.y'" s
CC)::::. t.,
for- pt"'OC::f:?~,Sf:s:.i..r'll:;)
r"l:;'duc:: tion
n,'2qUE'~,st (!:;)
~,shall
be billed to the
Developer at the
rate of $30,,00 per hour with a minimum of one (1)
hOI...!I'"
per reduction and shall be paid to the City within ten (10) days
of the date of mailing the billing.
(l . fiJ:~IBI:;:I.Y B.t~L:I~.6~U~, ~~:. e~~:IIJ::lqJJ J,'rJ~I~I? " ThE.' d €,' \/ f,~ lop f::".' t- m ,:,\ y 1'- f:"!! q U C-::2 f:'; t 0 f
the Ci,ty a redlAction or release of
any surety provided for ln
conjunction with the Petition
ItE,'m"" af:S f::;howr', on f:;.:hibit "B" <,4.':;
to 1. 1 o~'i''';:
A" When another acceptdble surety is furnished to the Cit.y to
replace a a prior surety"
B.
\J.Jh".:.'n
t !"'IE.' l' .:l n a 1
cost afnC3t.Ant tninus preV10ljS paynlerlts oecomes
l~~.'!:::.s th~.3.n t:hl:-:".' f:::.u.rE?ty pl"o\/id~:?d, thus <3.11owinq thf.~ SUI'''I'2ty to bE? reducE.?d
to a sum commensurate with the remaining debt service obligation"
1......11
I\!o
reduction shall be made which would result in t.he surety
hf~.' 1 d
br:...'.:i.nq
], r:..?!~::. :::;
that 35% of tn2 original surety for petit.ion items
until the final costs are known and assessed"
billed a~ 530.00 per hour with a minimum of one
( 1) f-fC)\..\ r" pf....? r
I) u
The sure~y will
bE.' t-. f':.' 1 l"f <:'. ",. E' d
~t such time as special
assessments for 75% of the lots and 75% of the multiple units in Said
Plat have peen paid in full"
The City's cost
for processlng said reduction reques~ shall be
r'E~dl...tc tiOI"'!"
and shall be billed to the developer and paid to the City
within ten (10) days thereo1'.
l .Jt
~:}.l;JF.~.f,~,IY. P,f,::I:J..~.::.,J.:.,~~~Nr:;.Y. "
I r-.,
the event that any cash, corporate
S.Uf"f2t\/ Done!,
letter of credit or other surety re1'erred to herein is
ever utilized and found to be deficient in amount to pay Dr reimburse
the City ln total as required herein, the Developer agrees that upon
bf:.'.'in(J
billed
by the City, Developer will pay within ten (10) days of
thf,.' 012\i 1 inq of
!:s"" id
billing,
the said deficient amount. If there
should be an overage in the amount of utilized security the City will"
upon m,,~.k inq
!~;<::\id dE~t~,:>t'.minE:", tior', ,
re1'und to the Developer any monies
wtlic:tl .t~le City nas in j,ts possessi.C)f1 wt'lict1 ar'e ir) excess of the actual
c: C) ~::; t ~;:; C) T
the project as paid by the City" All monies deposited with
the City shall be used by the City at the City's discretion to defray
the City's costs and expenses with the project(s) referred to herein.
q
O::~. II
O.:t.1.0.tJPQ.Nt.:.!.~::,t~!.:I. O,E:. F' F':.~)":IJ:.J:::,,r.
~:::Q.B.::r:~J (:lJ:~!Q ~~l.ef::N!:}f:::B" In t hE~ E?\/E..'n t.
Developer should abandon
thE? PI'-C\po!",E'd
development of the Subject
F'r'c) j:3E! r" t. ",/ ,
the City's costs and expenses for the preparation of thE?
feasibility report,
plan!,". ,::,nd
specifications and
<:<.11 othf2l''' COf:sts
f:;';'; pf.:.'ndl;:.'d
['l\l
the City which are associated with Project 1988-1A and
1 c188'''-~!. !,sha 11
hI'" paid
by said Developer. The Developer has provided
cash sureties to thE? City as follows:
PURPDSE
Pl t-i (J tJ !\! T
Cost associated with Preparation
of Feasibility Report~
Cost associated with Preparation
of Plans and Specifications~
$ -'1', 5~'%3 n !Zi0
+. $ J;:i, ~j~:,)0 " ~j((J
TDTP,L
$ :;;;:0, 0Q.m " OW
The City may withdraw
funds from the above-re1'erred escrow for the
pl...'.roo pOf::;P cd:
p,,',l.y'inq
the costs referred to in this paragraph" The said
cash escrow funds will
be released by the City upon the Developer
providinq satisfactory sureties for the Petition Items referred to in
E;,:h.i.bit !lEI".
C? n r?.~;.~':l.f:;J:::.C.U~:J;;.E~. ::L~J" f::,f"f:{ f!J:~.L: r:J.:.~!,~,:;~J::,~.? " I t 1. S~ l.~n c:l f::,: r"?:~. tCJC;tC1 c:\rt d E{C,;J t'~Et€.:.~c:1 t. h.:::\ t
<3.mounts se'c
for..t:.h
in
this Agreemerlt as improvement costs, unless
specifically specified as fixed amounts, are estimated" The Developer
agrees to pay the entire cost of the improvement including interest,
fiscal. engineering, legal and administrative charges"
sh,:3.1l
I::)f:'~
pr"ovidr::2d
t.o
t hf:':~ f"' i +. \i
to insure compliance during
.1.0" !;:;I:~Di~:;J,PN fi.NP, fl.JJ.c....TOf\I.IPJ\! c.~.m~rTJtQJ....._"
f.:l n
FJ. Ne',NJ:::.If)L: . (.::n)f:\F.:t:.ONJJ:.~;.
Befof"e arlY grading is started on arlY
<;::~.i. tf!:? :1
~.:\ll
erosion control measures as shown on the approved erosion
c::c)ntr'c)).
P I <::in st'lc\ 11
be installed" In addition, a 1'inancial guarantee
construction" This financial guarantee. which is included as an Escrow
Item in Exhibit
"B", hd.ll not bE.' r'f::,t.u.l"'f1f=.'d '...l.nt:J..I ,,"ill distu.t-bE~d cH"f?c:\f:S
have permanent vegetation re-established"
B. t.::BQ5JQN. !~;IJ.HI"E:Pt-:.."
(THIS SPACE WAS INTENTIONALLY LEFT BLANK,,)
.t 1" t7.' () F: r::: r;~!:;:.n..l.Gt):rJQ,N. .
(THIS SPACE WAS INTENTIONALLY LEFT BLANK,,)
.1. ::? " e.O'..Y.t1..t.:.NJ.... QE. ~}E'J:!~;.If)1-: Oi~~~I:J?i:::t1J;;.J\.II? qeQu.. Q[1!,,,J;,, I t. .1_ '-~ "1' u. r- t h 1.2 r' the
agreement ot the parties that all special assessments levied on City
Fr"oj ec t
.1CyBB-l(:21 Cl.nd
19BB-3A or any other city project previously
1 E"!V ied, or-
to be levied as a part of activating previously deferred
against the Subject Property, or portion thereof, if not
~:;\ ~5 ses:.~:;(n(:::~n t. f;;;
paid
pr'.1.or'
thf:?!r.'c;.'t.t) ,
f:sh,,~.ll
be paid by the Developer on the sale or
t 1''' ,~~. n !:~ 'f ~:2 1'"
Pr'G\/ idt~.'ci "
CJ f E:\ 1"1".,'
1"'1 {J It\} f:.":f \l E? 1'- ,
f~:?F2 o~.Jnf!."l'''shi p
t h,:~ t:. if t hf:?
intl"?r"("?f:;t in
",",ellf.':.'r' ql''',,,!nt:f:'-'
the Subject PrGperty"
seller financing in an
amount not less than the total 0"1' the unpaid assessments levied or
pf:::ndinq ac.:j,,,\inf:;:.t
thf:"::
lot then the payment of the special assessments
can be delayed until the amount financed by the developer is less than
the total of the said unpaid levied or pending special assessments" If
only a portion of the Subject Property is transferred, Developer shall
Pi,:\Y
the said special
assessments attributable only to that portion
which is being sold or transferred"
In the event the Developer wishes to have the final costs for
Pr-'oj 0~C:: t.
1988-1A and 19B8-3A determined tor the purpose of conveying a
lot or a number of lots prior to completion 01' the project, Developer
",~h'3.11
pr"ovid('2 to
the City a cash payment 1n an amount equal to one
hur'; c! t"'f2c:l
p f:7' tOO' c 0:.' n t
(100%) of the estimated special dssessments for each
01' the lots that the Developer seeks to convey" The surety deposit
mcle:!(,::.' by
the Developer for Petition Items pursuant to this aqreement
shall hp retained in full until the final project costs and results of
the assessments are determined. The City, upon receipt of said payment
for a particular lot or lots will upon request then certi1'y within any
special assessment search relating to said lot or lots have been fully
assessed 1'or said Project, pursuant to this Developer's Agreement; and
th<,~t no
further assessments will be made to saie:! lot or lots for the
improvements comprehended or beinq constructed under Project No"
1988-'lPl
",~nd
.1. <,:'BB",<:::Pl "
(~f tET
dE~t:ermin0.i::ion
C)'f thE.' 'f in,::~.l
C::CJf::;t
r-: 4:
.....' l
trl0?
project and the resulting assessment therefor, any overage paid by the
DE.'V,,'?:I. opet- v..!i 11
be returned to the Developer, and if there should be
any shortage in
the amount pa1d, the Developer will immediately pay
the City the difference between the amount previously paid and the
,::<.mClU!"""! t 01~
the assessments for the particular lots or lots" Payment
!:;j-',,,':\ 11
bf!2 madf:,.' ~\)i thin
thirty (30) days of the billing" The City may
dr"cl.\.-'J I...lpOn
any surety deposit made by the Developer if the Developer
fails to pay the billed amount within thirty (30) days of said bill.
1 ...,
.....-. #
t:1.i-)I.J.J..CD.I.N.
1.:::.I"JJ~!."",.:[.G.
!.~~:.e.qE'l:::e J'.'y;.
POX~IO~;~i~.~P DH c.~t.J,J.J'.T~J.~~. P\,i!:Jl.t-!Q
~J}tl.f~IE;\)J:;.TI..QN. DE~v~:!' 1 oper" aCIl""'ee~;; to ",\ S".<:;iU.m,:::.' "F u.IJ. i: i r',,,:\nc i ,::,1.1 l'"r::2f:;:.ponsi bi 1 i t:y
tor any damage which may occur to public property including but not
limitE?d
to streets, street sub-base, base, bituminous sur1'ace, curD,
utility system including but not limited to water main, sanitary sewer
or storm sewer when
said damage occurs as a result of the activity
which takes place during the develoDment of Said Plat" The Developer
further agrees to pay all costs required to repair the streets and/or
utility systems damaged or cluttered with debris when occurrlng as a
direct or indirect result Of the construction that takes place in Said
FI":\t,,
In
t.hf.~ eVE'n t
t.he Devf.7.' 1 C.lP~::.'I'"
fails to mairltain or re~Jair the
d~~.m,:,l.qC!! pub 1 ic
property referred to aforesaid, the City mav undertake
making or causing
it
to be repaired or maintained" When the City
undertakes such repair, the Developer shall reimburse the City for all
of its expenses within ten (10) days 01' its billing to the Developer"
If the Developer fails to pay said bill within thirty (30) days, the
surety shall be responsible 1'or reimbursing the City therefor"
1. 4" ~~J.II:.. LF~~().P,INJ;i. "
(THIS SPACE WAS INTENTIONALLY LEFT BLANK)
.1. ~5 .
IJ:::t!J::'Q.t:firrL 1:.~:D,\:.:;E:ttE;r:..i T.... F;~If,?!j.T ~3. 'F Q I..N.~?,TO,L::.I..::... J.ti.f::'BQVt;::I":'!!:.::NIfl..
ThE.'
D('2VI,.:, 1 o Pf.7!r'
boy ~::> i ~.:J J"l :i. r'i~.:.t
t t. r J'
~llS ~greemenc, glves
thE~ Ci ty
right of access on
0,\1.1
c.~ f
the Subject Property to install the contemplated utility and
str"eE!t
improvements referred
to herein" It is anticipated that the
D if:? \/ E: 1 C.1 P E.~\ r~
v\li 11
t i 1 f.~
thf..?
p L::d:
Ci of
\,lJ f..? 5 tl.-,I i n d
on
e:,l''' bE?tOl'-E?
M''''''''''_'' ,
\.Jhic h
plat
will
f.:r 0;.:' t.... if! ~::\ n E~ n ,,:'. 1 V.
pr'o'v'ide
right-of-way tor the required streets and utilities"
.1. 6" 1:1Ii::;~];J:::J""l\t.JE:IJLJ.f} "
A. The Developer will construct a berm. including trees thereon.
ln accordance with the approved landscape plan" The Developer will
prepare or cause to prepare a covenant, which covendnt shall be filed
with the Wright County Recorder after it has received approval in
v-Jr"itinq o'f
the City Attorney and which covenant shall establish the
bf::.'I'''m ,::\nd
"i\ f 'f f:? c: b:-:! d
PI"'ov:i.dl'?
th21.t.
it: !5h6\11
tl""iE? P 1 ,,~. t
be maintained at all times by the
1 0"1":. O~'Jnf:?r~:; ir"l
in
a condition a~ all
tirnes.
satis1'actory to the City.
The said covenant shall further provide
th'.::d.:,
upon a failure of the said affected lot owners to maintain the
~::.c:-\icf
bf:~r-'n
",md
t r-E'e!,~ ,
thf:? Ci t:v m2\\/
immediat:ely go upon the said
,,:\'f f f.':~C t€~d
dE,'dicat.ed
lots over and across the utility and drainage easement area
in
the plat of Westwind, and maintain the said berms and
~rees" If the City does so perform said maintenance, the City shall be
E:.'n t:. it 1 €i.'d
to
impr"ov(,:.:' ,
replace or maintain
th~:?m to
thE,' C.t t'y" s.
satisfaction and to then assess the costs thereof to all the affected
lots. in ~:;:,'3:.i..d
p I ,3. t:. "
The said assessment shall be payable in one (1)
\/ f!.~~ E;\ r' =
:1.7. PR/)J:,I. PtJ f:;;;X.elE:I.Nl.? LJ:,;,::r:rf.~:f{ PI'::: C:m:::I!.JI:. In th€.:: E?Vl,mt ',::( ~sur"E.'tv 01'"
C) t r"! €~ ~,..
form 01' guarantee referred
to h(.,?rE~in
1S in the form 01' an
i r"l'''E?\/c!c",\b 1 E.'.'
letter of credit, which by its terms will become null and
void
pI'" i 0 rOo
to thl'2
time at which all
money or obligation 01' the
DpvE'lopet...
is paid or completed, it is agreed that the Developer shall
provide the City with a new
letter of credit or other surety,
acceptable to the City,
<;l.t
ll",,,,l.f::; t.
thi I.-ty
( :~:;ii! )
days prior to the
If a new letter of
expiration of the said expiring letter of crpdit"
c r'€.?d:i. t
d~;:;f,3,u,1 t.
is not received as required above, the Citv may declare a
irl
thE,'
terns of this Agreement and thence draw 1n par or in
total, at the City's discretion, upon the expiring letter 01' credit to
avoid the loss 01' surety for the continued obligation"
:J. t:i " \:l.I.PL.t1,I.JJ.1t:J PE. f.:tqf;J~~LIJf:;::r{r, " Int. 11 f::.' E..' v Em t "1":. h ,;:\ t: t, I'H?' :D E:: v E"!! lop f,? r', i t f:::.
!5UCCeSsors or~ assigrls vic)lates arlY (3f the covej"}ants and aqreslnents
herein contained,
the City is hereby granted the right and privilege
to df::~c 1 <::<.l'''E:.' all
of entire sums levied as taxes or otherwise and any
deficiencies governed by this Agreement due and payable to the City in
of: tt], 1 u
Thf,?
c i 1:. Y' (n ~'3. ~/ i:: J~) f:':; n c: ('.~:;
immediately and without
, .
n C) t.: .1. c: ~:.:
01'"
c on ~5f.:~n t
'_h'l
the Developer use all of the deposited escrow funds, corporate
sur-f:?ty' fund~5,
letter of credit or other surety funds to complete the
Developer's obligations as set 1'orth herein, whether related to Escrow
Items or Petition
I tE.?m~:s ,
Cl.r',ci
to t}!"'.1.nq
legal action against the
Df:.:'v f:."I opf::;:'r"
to collect any sums due the City pursuant ~o this
c\l:;! 1'''ef.,?mE~n t"
:1. {j} II
fl:I.:rPJS~J>iI:;Y..~J:2. t:J,;:: LI} ..
The Developer will pay the City redsonable
attorney's 1'ees to be fixed by the Court in the event a suit or action
lS brought to enforce the terms of this Aqreement or in the event an
action is brought upon a bond or letter of credit furnished by the
Developer as provided herein.
:?W..
1>I.P.I_.I.F.:..LCPI:L..J:.'p.I>i .r.t"~i.F.P.f~.tJ.O::i::..I..[}.r\~. "
Anv notices t- the parties herein
shall be by registered mail addressed as tollows:
CITY OF ALBERTVILLE
c/o City Administrator/Clerk
P"O.. Do}; 1:::l;J..
Albertville, MN 55301
Telephone~ (612) 497-3384
l'f.~ 112r':'lhone:
::21 u
fl{:jETI)",IEI::LI ~~ELE;:(:::T"
This Agreement shall be binding upon and
extend to the representatives, heir"s~ successo~'s B'1d assigns of the
p",.l'''tiF2~;:. hE.'l'-f"!:.'to.
CITY OF ALBERTVILLE
Hv
:[ t ~":. i'T" <3. 'lor"
I-3~/
Its Administrator/Clerk
(..~ F ,:;1,1''' tn'?:2f"
(:) F i". 1'- t. n I,? 1'"
STATE OF MINNESOTA)
C(Ju~rrY OF \,lJF: I GHT
The foregoing instrument was acknowledQed before me this
d,::\y of
... , .....".",,, ,.",..."..,.,., 1
bv
.'
+'l"',p
I'!"~,yo roo
e:\rHi by
..........."........_._" "..__,,,!i
ti"'if!:."t
Administrator/Clerk
c:rf
the
City
nf Albertville,
,,", mun lC .1.. p,::<.l
r.::ol'"'por''''' tion
under'
thf!:~
laws ot Minnesota,
on behalf of salO
cot"'por",,, tion.
NOt,3.l'''y Pl...tbl ic;
tv, ,'iN
My Commission expires:
STATE OF MINNESOTA)
COL.I!\lT\/ UF WF: I GHT
'T'he
for"eqClir',f.:J
instrument was acknowledged
bf,:.'forE? mE! thi f::.
{j {:::.. )/ C) 1:
.".__...h,...,.,., ,
.19
i::'lY
{;:\l"ld
by
'_,,,..,,0>_""<> ,uw._u"._.".,_..'
thf::.'
P ,,;i. r' 1.:-. n e 1'" f::;
C;) ~f;
;'l
a general partnership under the laws ~t
MinnesClta, on behalf of said general partnership.
Notar",-/ F'ubl ic::,
t 'y', ,'!N
My Commission expires=__
THIS INSTRUMENT WAS DRAFTED BY:
ROBERT J" MILLER LAW OFFICES, P"A"
9405 - 36TH AVENUE NORTH
NEW HOPE, MN 55427
EXHIbIT (.)
Legal Description for
VJF.~sr~'..1 I r--.ID
EXHIBIT "H"
WORK PERTAINING TO WESTWIND
I. PETITION ITEMS (Project 1988-3) ESTIMATED COST
An Street $299,262::50
B" Storm Sewer 79,355.00
lJ= Sani,tary Sewer 127,1.02"50
D" Watermain 167,580,,70
F Common Excavation
::;:::2,1"70" 14
$6()~:i,470"B4
REQUIRED SURETY PERCENTAGE:
:~; (!r/~
$:2iZtB, 7I.H?l. B4
USED~
$, :2 (li ~1 , (?J (?J (li " (ll ~1
I I. ESCFiO!A) I TEi1Ei
?~l" ~g.!J..15:~y,'..~ii.C.f:I... ..J(n.p'x::g.:{~.'!Jl(f~nt~;
1. Ins.;;t,;l.11c:~tion boulf2var'd sod.
::~~ ;:
Planting 01' one
( l )
deciduous front yard tree of type
specified in City Resolution Approving Final Plat for each
lot f::;h~"ll
bE! a mir', imurn cd: ti.JO inc: hf.i-.'f::. (2") in d i~:i.lnetf.?t...
me~::l. st...!. n'2d s i;.: :i. n c hl'?S (.::;, ") ,',. bOV~2 t hf2 q n:)un d .
..",
..:) ::
In~::;i::.~:<.llc"l.tion
of
,::;l.
bi tU.minous
d !,.. i \/ E' If'J ,;;l. y
Ct.ppr'oac h
with a minimum of
tl;'IO inchE~j:;; (2") hot mi>: ,;;l..C. on fiVf:?
:1. n c r',f:~~5
( ~:1" )
Class 5 aggregate or a concrete approach
constructed a minimum 01' four inches (4") thick with wire
or" s.:i.~': inchf::'s; (6") trli.ck wi.thout ~'Jir"E.' m,::::",.h..
p
.,,.' n
@..r.:.i".i"I;Lt.J.J:.;t... ..\;~:qrlJ:;r.qJ...
All site grading~ including building S1~es, ponds and surface
drainage ways shall be graded in accordance with the approved
grading and development plan.
C~ It t2J;J.J,~:~.~;,~,.:~.~,._.~?j~Jlr.l.,t~,.
D " ~Lt.r::.f:\~.@i:':"..GJ.~:i.~Jn.:i.:n.~.l..
All streets in the area shall be kept Tree of dirt and debris
during all phases 01' construction.
~}\,,:I.Bf;.:r.Y...Bf,;{JPJnt:;I~IJ~;NI.t} ~
If cash or letter of credit is submitted
t;:XL'L[J}IJ,'.._~.'"G..'.'..
DEBT SEhVICE SCHEDULE
~I)EST\,lJ I ND
Debt
Sf:.' 1''' V j. C f.':.'
b <:l. f.-S E~ d
on
total estimated project cost 01'
$695,470.84, 1~ year assessment and an estimated 8.75% interest
ra.'f:.f::.'r;
REUU I m~D SPEC.
{\SSESS. T(TrnL
PP1Y" tJY D/::::\/"
YE.;:.oB
F'R I Ne I F'(:d....
~}Ot:-..ONGf.~.
PINNU{~L
t:.R.J;,NJ;:.,J;.e,f.).~::. .I..i'~.:r,f;:f~E.::::;J':.
DEB'r
IN 'r (.~:x: !::::~:3 DF<
EIV
~J.~f;;Y):GE.;;.
t;;',R.f.:~e/}ytl,f.;,N:I,
POIf~
1989 695,471~00 57,955u92 79,457~24
.t~:;.7 , 41.::~;" .1!':)
1,990 637,515n08 57,955u92 55,789n57
.11:~:;, 7.t.j.~j" 49
1992 521,603u24 57~955n92 459674.28
10B, 674. ::~;ll.
1. ~ZJ::::; , () 0 :~:. " 2 ~1
9B , ~)::~;:~~ " ((,)6
9::::; , 4,~:;,V) . 9~?
1991 579,559u16 57,955=92 50,718~43
1993 463,647u32 57,955=92 40,576.14
1994 405,691.40 57,955.92 35,505,,00
1995 347,735u48 57,955~92 30,433u86
~3 ~::~ , ~::~ t3 I:? ~ '7 '7
1996 289,779=56 57,955u92 25,362n71,
f.:~ :~:: , :::; 1. f.3 u l:. ~.::;
199'7 231,823u64 57,955n92 20~291u57
'7 t:1 , 2.4. ':7 :$ '4. c:;
1.998 j.73~867u72 57,955~92 15,220n43
}' ::::; ~i 1 '7 I.:> f: :~:: ~,:,7i
1999 1.15,911.,,80 57~955,,92 10,149,,29
l::..Ei ~ 1lZt ~5 u :~~ 1
2000 57,955;88 57,955u92 5n074n64
I~} ::::: ~ k~ :~:; ~~ n ~:o:f .:0:;
....
DEVELOPER'S AGREEMENT
WEfrTl\) I NI)
T /..n: S fH3 P EE 1'1 E NT. en '1:.: (;? I~ e d .i. n t. 0 t h :1.:5.,....,.... d 2. Y 0 'f .........................,............... ....................,.................. ~
1988 by and betw6en .
..,,,...'""'..m..m'.'''m.........'....,,........................,,''.....^'"............."..":.:......~::~..:..:,:::.:,:.:,,.":..:.. ~.. ,~-~? f (,2 r:' 'r" 'E' (j ..............f.(:J.."...}':r.(~.r:.E~.I..j:;i...m..~~:.s.~-......n"j).~~'~~~f..?.I.2)-t:J.e.r::"ET. ;
iii::;.i:f.......TT1.e r: I "I" Y n F (::11 H F R T \) T j L F i p t 1'1 E' r": 0 I I P ,.. V 1''', '1' ~'J r" 'j CI 1"1 'j" c~ ,.. ,7.l t. (:.'" n f
1....linnefsot"'''', -I~~;n?i~~;~ f tel:.... r:ef~~";:e~I' t:o....~s !lCi ty;; :,'" ..... - ".. ." -, ~. n. U -
~\J I TNESSE'fH :
WHEREAS, Developer i~ the fee owner and developer OT a parcel or
par'cE'1~5 of l<~nd de~scr"ibed in E~.:h.i.bit: "A". atti::ichf:~d hf:?r"E0t.o <::l.nd
incorporated herein by reference which parcel or parcels of land are
"if"f"'f.'lnr...pd '1"1'1 r't-::'\lp]n';:)pd ~'lr.:. ~'l <::;llhdi ".j,,"'j Ol'" in "-hr."' C:i.j"\l l"\nl'i \AII-;f"h
;~. ;,,1 i; (j ~i: ~ i ;,~ 1. 0 I; "" i ;~..... i ~:; i:.:~; i'j (j f~? d to b~; ii:, t... .-. t: i~ F:? - l~'! ~\;~ ~.. ,: W f2 ~~ 't~. \AJ i r\ d';; "". n c:! .- ,11 ,;\ "y' ;; 0 ~ e t~ .i: ~ ~ s;
hf,,-'r0,?ir"'<.3.'ft:(;?r' bE~ rf:?ff!:?t'''r''f?d to 2.~:; thf::? "SubjE?ct F:'r"oper-ty" or "Eli::iid F'12.t",
and .'
WHEPEAS. the City has qiven final approval of Developer's plat of
Westwind co~tinqent 'upon 'compl1ance with certain City requirements
including,but not. limited to, matters set forth herein; and
WHEPEAS. the City requires that certain public improvements,
\AI h 1 r" h ,'.l ~_. 1"-' .:., "., ".. r.:;,.j r" ~". f.:> 'f' P f" or' ,.", 1"1 'c'- I'l '" c:; l! j;;.' 1=.' i- l' t., ,.... r'i '[ t. t.", ~,<-:; II l' ri C" i, 1,'11' I"j q' I"ll I .,.. r'l n t
.... _.. '';' It.... .n. tit..!. .;;;; .._1.1 .... no', t 0;...... ..... ...\.... I _..... _\.\...... .....111.... .. .., ... ... -. q .,....... .... ...
I1ml'LeO to. sanltary sewer. water. storm sewer and st~eets be
installed ~o serve the Subje2t Prope0ty and other properties affected
by the development of Developer's land. all at the expense of
D0veloper; and .
. WHERE0S, the Citv further requires that certain on and off-site
lmprOVemen'Ls be installed by the Developer~ within the Subject
Property. which improvements ty~lcally cons1st of boulevard sod.
bituminbGs or concrete drivewa" aoproaches. drainaqe swales. bermin~
~nrl frnnt v~rrl trpp~ ~nd li(p ~tpm~ ~~d'wh.irh i~n-o\lQmer~~ tn t~~
~~Gject-P~op~~t0 s~~ii-be~refe;~~a ~~"~;r~~n ~~ '~Es~~;~ i~e~~~i ;~d"'-
WHEREAS. this Agreement 1S entered into for the purpose of
settinq for~h and memorializing for the parties and subsequ0ntowners
-!-. 1"1(.:'.' 'I/::;dpr''': '(";,\r',d'[ r'lq"::. <.'.,r1d <..igr"eE'lrlE"l"l -!-'O:; n'f' thf::? r':'l2.r..tiE?~:; c:oncli:?I"'ning thf!~
de~el~p~;nf"~~'ih~-su~~~ct Pr~~e~~i;s;-
NOW THEREFORE. IT
cons:.,ider"ation c.f f2ach
forth, as follows:
IS HEREBY AND HEREIN MUTUALLY AGREED. in
party's promise and considerations herein set
1. PE'TTfION Fm~: II"1PF~OVEMEN'IS (PEITTIONf3 l"lENS). DE'\/F:?loper her'e.i.n
I:? f.0 t j~ t i c:r: .::;~""''''l]::;~~':~~~~~'ei :t.y ..... t. <;j..... w'e:' ?'j:ji5':r::~::i:j:(:'t ........~;;:;i~....~).a.i;::t........o T.....t:F;~.. 'c i t '/ 's :~ in p ':" 0 v e mE? n ~
PrOJeC'LlS) 19d8-1~ and 1988-~A and/or other L1ty proJec'L deemeo
ii:i.ppr'opr" ii:\ t('!(! by thE:~ . Ci ty t.he improvf:0m(:'?n ~.~:; r"*,,-'fli:?r:'r'ed to .in E;.:l::i. bi '~'. '.' El"
and descrlbed thereln ln very qenerallzed lanquaqe as "Petl'Ll0n
I tE~ms". Si::iid E;.:hibj.. t "13" i~::; ",,'U.:c\c:hf.0d hen:?to <..u'ld incorpbr"ated h*?r"li:?in by
reference as though fully set forth.
L. WAIVEP. Developer waives all right to a public hearing and
Cl t h f,? ~". ".:. t a'Fi::i:':E'c::;'r::'.,/ r" i q h t fo,. q r' 2\ 1"', t e d to C\ p r' 0 per t Y 0 ~\1 n F:? roo un d E! r" C I"',,,~ p t f2 J"' .:'1. :2 9
of Minnesota Statu~es as the said riqhts therein granted related to
Petition Items. includinq those that a~e a part of Pro.iect(s) 1988-1A
and 1(:i88"--:::;,{:;!, a,5' Sli::'!t. tDI'-th'" in E~.:hib.i. t. "13"..
~. PETITION ITEMS PRnJECI'(S) 1988-1A AND 1988-3A. The City
~~ ~ E.1 ~~. ::::: ~~ on ~Ti~i=t~:t:::'~~:'~5 c! ~{:'~~'~~:'~~~~ I ;i';~ t ~.~ '~i,i ~.~. ~\ 01 e; ~ ~r~ ~ ~~ ~~'n ~. 'f: P ~'I~~ ~~'E'\}; 1:~ n: r~: ~;'~ 8 Y '.t ~:~ s a ~~ ~
"".ho\rJn on E>:hibit. ":8" pC\l"su<::\nt: t:o :its r"egcI 1 ai'" Hlf?thods Df tnti:i.kinq pLi.l:::d.ic
improvements. The Developer agrees that special assessments for said
improvements maybe levied by tGe City. without Developer's objection,
f~~~~re~o7~t~~El~~nth~Sim~~~~:~~~~..hav~hgee~X~:~~~la{~~u~~~gr ~~eto be
~
direction of the Council. The Citv shall recover it~ costs and
::~~n:~:Ci~tn~~~~~~~ent:g~~'bef~:~~~ie~1~i~~~~~ag~r~c~Z~le~x~~:~~~~gt~
together with interest thereon from the date of the resolution levying
t~:n ~~:Te:mr~~) ~:ar~~termined by the City over a period of not more
4. PETI'l:r.(JN ITEt~IS ...... ~~.~.l.m:;I.,Y. It is 2.nticip"",tE?d t.hdt thE? Cit.y'~:;
debt s:,E'r-~;i"i:.~~"""'''e'~~'ch VP,',r (""Ir'inq 'I-hp e;'!-~'!"pd ,::-,e;'~~pc.r.:;m(:.:>ni- Pf';,l''''ic.id '+'1'11'" 'l-hp
,',i"I-,~_-,.,;t_'".3,'J'"'lp_-.t.,',_i,,(_-,,l.rl ,f th'~/-f~pt'1~: ~If~----:;-' -~~-~-~r-~~bit~i~ '~D~- ~~-~
.." c...., ,E: _" ...l _,.1_0" ,._f,7,il1:::> e,::' ,,,,lcwr. .....j <0..,',., ,.. .... _. L'" .... ,<:.1,
portion of which benefits Subject Property will require an estimated
E)t~y'('r:f,::~~~ ~~ t~:(~ h~:'?~ f"O~~(21,..~~t~~; . Ci 1-:( tits i t J~'n ~~::::~:'~~11 d1:.r~~; t'~~:; D~~~)g f;;r;~~~d ~~r~<::\ \: i hi ~1~ t~:;
~y~~i~tT7tbeP~~:~7~~te~fb~a~~i~p~~~~~v:~:~~s~~gJ:ctr:r.the C~ty's cash
Developer herein agr~es that said Developer will actually pay
E~ff~~~e:~:i~~:~~t~[~~~P~~~~:hX~~:~~~~:~~~EE:~~!~;:~~~~!~mE~!~:g~f~n~~
E}~hi bi t:, " C::" ~\jhf:?n dUE:?, 'lo de tf:?:jP'mir"'E, thE0 dC tu,a I o;l.moul"',t., i"\~;:. Oppos;f'::?d to
the estimated amount. to be paid by the Developer~ the principal
amount shall be add6d to the interest amount. f6r the subj~ct
i~pr9vem~n~, project. as shown on the tax statem6nts for lots lYing
wlthln Sald Pla~. less credit for prepayments made thereof,' Any
deTlciencies in the amount paid by the Developer for special
~E~::~~E::~~~~~~~~:y~e~~:~~~~~c;:cf~~~~tE~t:~~~!~~~~:~~~~!~~~~~~~:sy!~
~~:~~~tyorofot?~~dssY~~~~r:~r~~s~:~et~ t~~tC~~~.w~~~d~~w~a~111u~:t~s~~
by the' City for payment of its herein referred debt service payment
~iii~;~~~~~;:~~~;~!t:;~i~~r~~~~~:~~;~~~:i~~~:~~;i~~~~j;~~~~~~t~~i~:i~~
said delinquent specidl assessments.
of C~~~i.tDe~~loC~~erSh:~ti~~~~t~~yt~~r~t~Yi~it~eC~:~~n~PE~o~;~ ~~tt~~
estimated cost of Petition It6m improvements which are to be
constructed as part of Project(s) 1988-1A and 1988-3A. The developer's
cash. bond. letter of credit or other surety shall this be ih the
amou0t of $?00,000.00, calculdted as follows: .
Total Estimated Cost of Westwind
'$6C.i;;:I. 471Z1. 84
Plat Petition Items included in
Project 1988-1A and 1988-3
X ::;;;0~1..
~~~~ty Requirement:
$:?08. 6'<1-1. 7::'i
$ :,;;: ((:!0 ~ ~~ ((J 0 . ((:!0
The said 30% surety i~ the quarantee referred to earller in this
paragraph that sufficient revenue'is annually produced by the required
debt" servic~ paym~nt. _w~ic~ debt__~e~yice P0Yil1~nt relates. to the
portion o'f PrOJectls) 1~88-1~ and 1~d8-~H benetl~tlng the development
at the said plat. The City may draw on said surety tor cash flow
purposes to supplement the 'Developer's payments wh~n Developer is
delinquent in th~ payment of said special asse~sments. .
:3. ~J.N.. t~NJ~.. Qr::.J::::.::.::,$.J...TJ.~.. I.t1.E'.B.PVJ;;t1.f.~J:'rr:$...!.f.:~..\}J~J:;:OJ} IIEtl.fL; ~1,,!.e.r:;:InY..
A. Developer shall perform all on 0nd oft-site i.mprovements set
for..th on I::':>~h:i.bi t "D" <3,S "Escr"ow I tE?mS". Df':?vf:010Del'" \,'Ji 11 pI'''ovide '!-hp
City with cdsh, approved letter of credit or other satisfactory surety
~~;,~~~!{~;;: ~~t c ~ ~ a:1~!:~m ~~~;::~~~~~~; :~:~ ~ t ~~~ !;~~?~~ !:~~~~i;~~;~
C i.., y,-- ) 2Jt l( l { :, ,C\\<'::'
)
of the escrow items by the Developer, to the City'ssatisfaction~ Wl1l
b€~ comr.:) 1 E?t.f}d on Dt'" bE~"I'or'f:':? ......................... . 'fhE? bOLl l0?\/<.:\r"d
ff: ~ ~:~ II~l ~i; ~ ~i! 11 ;; ~~ t e ~~ ~::.i t:11; ~~:~ ~~, ~~l ~~ ~ (~~ t. !~ ~ ~~ f~: r.~ f~ ~ ~: o;;.T;;.~.i~:1:1~;:;'~}E~f~'i~t~E~rt ~ ~ f.;: ~ t J r t. ~ ~ t, ~:: (~l ~
DU11clnQ located on the lot; unless the certi"l'icate 0"1' occupancy is
issued "after October 1st and before March 30th in any qiven year. in
whi.ch case the boulevard improvement.s shall be so ~o~plet.ed by' the
~~~~~;i~~~!~~:~i:;;~~~~i~~~~~~t~~~~~~~i;;~~~~~~~~~~:~;~ti!!~~~~~i~i~i~
reasonably prudent, the Developer may request of the City that the
surety be reduced for that portion of the project which has been fully
~~~~~~r~~ ~~gue~~r:rntsh:f~eb~hgr~I~~.t~hth~l~~~:l~~:~ :~rtg~o~:~:ig~
$30.00 per hour with a minimum of one (1) hour per reducti.on and shall
bf~? . p<.:\:i..d to thf'? Ci. ty ~",i thin ten (1~!.1)' d~\y~s o'f tl""f? da t.~'0 of m,~",i 1 inq the
1::).1,1.1. .1.n(] .
6. SURETY RELEASE
the C i t \1' -'.""'-';3:'"'''''' ' ,;::'f? cri:i:';~::'FI..i:)j:1.
conjunct.ion with the
'h:J 11 ow:.:; :
.- P!=,'f T .,.. T '''11\,1 I TF..r~~
......0 r::.:::::....,..r:,~..t.k~~,s 6.....-...:::2j.t". .
Peti tion I t.E?ms:;
Thp dpvplnnpr m~v requpst
an; ~u~~~;- p~;~~~~~ 'i~~
6'tS ::;:.hc::rv1Jrl c:.~rj E:.~<lmiJ.DJ."t. II.E:{ll
Q'i'
in
..::\ f~;
A. When another acceptable surety i.s furnished tQ the City to
replace a a prior surety.
1 €.?s;f.';;
to a
b. When the final cost amount minus previous payments becomes
s~~a~o~~:n:~~~t~ ~~~~i~~e'r~~~~nf~~o~~~~ ~~~v~~~e~~lt~a~~o~~duced
c~ No reduction shall tJe ".a(je w~lic:h wOLlld res{llt in the surety
held beinq less that 35% of the oriqinal surety for petition it.ems
until the final costs are known and assissed. . .
U. The surety will be released at such time as
~<":'''",P.::;r.;{Y1Pn+'''; .f....r.. "?~:::'"/'I"lf '1--1"11:,';, ]/'i'i-<:;; ;:.jnd "/'::ii~' /'i'.: i"hp il1lll'l"'il'i'lr,~,' llnl-!-'<:';
F::l;;~:i~'.--t~l'~:-\'~>f? '''i:~'1eE~r:)\..Jp~'~:~:ii;j/C:i.~; 'ft~~ii ~ ...... ....... .... -. . ....u .... I .......... ..... "'-'r'--'''- .... -. ...-
special
.in bi::l,id
The Citv's rn~t for prQcessinq said reduct.ion request
b ' 'l 'l I I ' ~r")1 '1\(" h . . I ' f . i 1
..l.1..... E~C.. ,.::\',:" $,~:.!._~"bL! pf.0r- ~:)u.r' \An'I.:.."l ,::'. fD.1,nimUfD (;)' onf.:~ (..~:
recuctl0n. ana shall be Dllled t.o the developer and paid to
within teA (10) days thereof.
f";hEll1 bE
hou,r p(:'?r"
tht-!! [:i ty
'7 . ~.~.q.f'~.t,:=:.::r.Y m~;E,Ir::U:::N!;Y . I n t 1'''1 E? e v en t t h <.:\ t ~. n ''/ CD, so; h, cor" po t'.. atE'
suretv bond. letter of credit or other surety reterred to herein is
ever 'uti.liz6d and found to be deficient in amount to payor reimburse
~~~nqLl~rll~~ total as required herein~it7ep~~v:i~~~~ ~g~e7~0~h~:y~P~7
... (.., ~,,:! 't' <~,~_",,' ,~,_.~l (.:,~I:,'",: ("., C: i t'_I:.:, '_t._ ]'. 1 I,_.":_) !~~l~ r\c','l' f'._."! 1 0 tf,). (I'::~i r.t'..,.".,' ... . I j I'" 1
thE0 mailinq ",?_", ' '. .. ~;;<::\id' df.::.,t.1.c,1.en'.:.: i::,moun'.:. ,t 'C"lf:?t'-e
!::;hou,ld hra ;:,,11 OVel"aqf::I :i.r"l the ':':'.Hiol,m'l:. of' I...!tili;:~ed ~:.f:?cu.r'it.y thf:?! Cit\/ will.
~EE~~r~~~:~!~!:~~~:~~i~:~~:!~!:~~~::~!~~~~:~~~~!~m~~~~~~i~~~:~~:~~7~;;
8. ABANDONMENT OF PROJECT COSTS AND EXPENSEb. In the event
f~~i~~!i ~~~;~g;~~~i~;~~~.~~~:-~;~~~..~:~E~~~m;r~~; ~;~;~;~~~ [:! i~i~~~ :~~i
cash sureties to the City as follows:
1---
I
I
I
I
I
I
I
I
I
I
F' U F~ P C) ~:3 I:::
(,:)1"1 DU 1\'''1'
rn~t associated with Preparation
of Feasibility Peport:
Cost associated with Preparation
of Plans and Specifications:
'$ 4 , ~,~1k! # @tJ
"I- :1;:l. ~j , 5(21k~ # El~!l
-fOfP1L
.~; :,;';': f2J ., Q.:t k~ 0 # k'.l k!.l
The City may withdraw funds from the above-referred escrow for the
;))~~\~'.J;,~I.:1):"~.i,:.1?'~':'~lri-.~~~\~'..~,,,'",~"",~.',I';"~";'~",,;~l~?,~::,~''',:,~,~.T'_(,~,~r~~,ly~,Y..],..,::"rl-""'I,:~,',,_~,';?';I~.~,;.!,,~,~.'~:7?r,':,..:::,~I~i:,;,,~.:':r~~~,:,,;.~i"'''''''~~ t~et8i~yp~~~gr~g~'D~C~I~~~~
t' .' _ .' ,~.~. ~ ',,0"_-, I c" Petition Items referred to in
ENhibit liB".
. Ilt't.:IIIFl-F. III Ff", I'" l I ';";IS Jt 1.!:; u.ndf:'!r"stood E~nd ,,:l,qf"<:?'E!d that
,',',. 'Y', ("I",... !'~, ~I',;,,~ ,-"_:,,, ;._.:~":';,:'..~":.:':I.:,:,,J.:;~:':::::';'r;i',~,:):::,::~;:ri,:,,::'I"', :'::,~"~,:"I'''I ':::':\:_';:'1'1,'1',:,,'1,'::::.::::' ~":;I:}..:.'.~:t=':;i:,.~.:".:.:'(~"".'_-.:.'(:,:, ,..c",'. ':'l:, .t', ILl
-, ~ ,,' '" . ,." '.'.. ,::\ s ,1 m p r'ovemen '::' c (j!~ ';::, ~S. ~.I,n:_ l?~S;~S
ii~*~i:C!~~:g:~~~~~:~~!b~i ~~~~:~!:~~~:~~~~~~e~~1~:!~~~~dI~~ r~r:~~~~~
:I. (0. t:ePflJQN. ON,Q.. f~..J.L::"J){LIQH t:;:QN.r,e"Qt~"
Pl. r=:J.Nf)J::H,;:J..fl.L, E1U(:lFa::';j\!'fEE. B(7.~fon:,? ,,,",!ly qr"H.iinq is; !:;t,:,;wted Dn ,,:\lry'
~~J~t~~;~~~;~:i~~!~~~:;~~i;;~~~~~~~t;~:~~~~~t:~~:f:;'~~~i:;~:~;~~~~~~~
nave permanent veqetation re-established.
B " f..:BP1~J:J)JoJ ~~.p.NIeqJ.;.7" .
(THIS SPACE WAS INTENTIONALLY LEFT BLANK,,)
. -j
'C\\[I
j\'. v~\:
1,..-"--
:1.1. PARK DEDICATION. The DevelDper shall fulfill park dedication
o 'f t hE! Pi Tb'{iit:::'t ~/::Crr0~;"'-C:rF\i Ord i n;:;\nCE? C::OdE? <.'\nd t. hf?! rl 1 bE~t.. t'v' ill e Park .:;l.nd
PecreatiDn Board by th6 payment of cash in the sum Df $10,000.00
.::':~nd /ot'" 'I::.hF:? c:onvf::?"y'<;:l,nCf:7: of 14. :,,') ac r"c,:'~.; \AJII~r::h tl'''IE? s;u,m C)'I' !f,:~;:,:;; :::;:,~;. f<1fll Cli' tl'''i~?
$10.000.00 shall be paid prior to the final plat beinq released for
'f'i 1 :lnq ;::'-r' t'hp l,o.lr"inh'l- r:i'ilif"-r'V f"'i'illt""f' t.-jf'lIIC:,t.;" ;"lr"d thf."" rc::"(r'",'ll:::clr~;'I''' be'jr-r~ i-'hc::'
!~l;il!!;~;!~;~~!i!!;~l~!;;;i~j~;!!l:!~;!~!!:;;!~ljj!:l;;:!~i~~!;~!!~~
paragraph are met. -
:2 . F' (,W f'1E 1\1''1'' Q.E~ f2F,f.~I~}At" fl 8.:7.H::.$ S 1:~!.f:]::!.T,~; I) P h} I":!. f3 ?:\LJ~ " I t 1. !:; i' u. f" 'i:: h E0 f' t rH::'
r4t;;jIPpmPI1l- fiT It,r,,,' Il'i\lflE-'''~ [:,h<::\t aJ.l spc~c:i",l ,,~S:,"~':?~~Smf?nt,s l(,::;,vi(,0d c,n City
~:~e;Ui;;i:!.'::::=i~'~)i.;'!;-<1. ~~; ~ ,:~ \~~;. '" .;, :i. ~~Cl'''''' (. I n r ,OJ'' , 1 d I' 'r i . I.. Il r n ]'"f' Ol fe' '/1 C'.. ~ 1\.
~~~2~iE~~:~~~;~~f~~~:~~;~~~i;:~~~a;~~f~~~~~;~~~~~~ff;~~;j~~~~~}~~!~~~J
pending against the lot then the payment of the special assessments
~~~~:i;~!:ni~h:f;;t!;~~:~~~~~~0~~~~z~:h:~~~~;rE;gW~~~~f,~~~a:;;;H
In the event the Developer wishes to have the final costs for
Project 1988-1A and 1988-3A determined for the purpose of conveyinq a
lot or a number of lots pri.or to completion of the project. Dev610~er
'":,h,::\ 1 ] pt'"n" 'j d p '1- ('i -!-' hE> r:.j 1" y ,~ ('" ,7~ ":.h r",:~' '(l'lPp .!- -j ") P n '", mf'ill'''l ,I" (,-;:,r:111 ;,7, ] ,!.. n f'il"l P
~~~~~~i~:~~~~;~!~~~f:!~~;!~~i~~i~f~~~~~;~~~~~~~~i:~f~~~~~~~:~~~~!i~:~!
-f'nl~ ~',l P'"'I,'..+'ic..l.];.'lr.. 1 ("\'!" nr" In'!-"; lAI1 "'I IIf'lnn r..(.;'qllp";'l" -!-'!-it=>n ,-f,'7'f..t'j '.:V lAI1 'I"hil:) ,7.lfiV
~~;~~~~~a~~t~~~!~i~~~t~~~~~t~~~~~~~~~~:!~~::~~~~t;~f~~~:~~t~~t~~;ru~~~
i~g~~r~me~~~ ~~~g~~~~nd~1te~r d~~~~~in~??~~ru~~e~heu~~~~l ~~~{e~~ ~~~
!~~~~~~~~~:1t~:i;~~ii~~~~~~:~:~E;~~:!~~~~~~~~1:i~~~i~r;!~:~~i~~~~~:i~~
,,:~ !.., ,"l 'I ] h (:.~ ill ,',) d (::" l"J 'j t f'l i 1"'1 -t. h ; roO t- \/ (?: Vi "1 d'::, V"::, . n t 'i" I'" r::. h i 'I 'I i !'" n ''1'' h F' r: 'j '" .~, en ;.l , '
~~i~~ Y~;~a;;~~e ~~~~~~. ~~~~~ftwTi~~nG~~~~~yDfii~;~~t:i!~t~~~~~~~17~~?
G.qt::l~;~.:IA;DLI"rr;.&Y::lJHE()J.:/i\) pE' i;~:\)~b~:~;'E' ':::, ItI;QI;~~~':'f:ji~'E> l' E~1:Ji6i~~;:'X,,~ n ~?:~{"2\ 1 G!r:'~'~~-J;~;f;'"::,:i.. ,gjJHiF?~
~~~~~i~~~~~~;~:~~~~~~~~~~i~i:~~I~~i~~i~!~~~;i~I~?~~f~~;i~~~~!~~;I~~~~
~~rrr~~ :?~~~~stod~~~g:~lo~O~r~t~~~~~r~~t~od~gpf~rw~~~ ~~~~~~fn8n~~0~
direct or indirect result 01' the construction that takes place in Said
Plat. In the event the Developer fails to maintain or repair the
~~~!0iak~~b:0~~s~~~::~~Yt~~t:~~:~~~E~f~~E:i~~~f~~~;~~~~~e~~i~~~~~~~!ii
T~: t~~~; E?E~~~;~?<f~~~~e~~i ~:~~:~:t'l ":;tf~~~, ~..l~~,~) s~;,.1{;~S b(~~i 1 i ~~'~: t~~t;i ], t,I;I(I r...'~~ 'i~~~0) D~~'~~~;(:Pith~'
surety shall be responsible for reimbursing the City therefor.
.1. 4. ~?I.I,E.::. r:"t.:OPJIYQ.
(THIS SPACE WAS INTENTIONALLY LEFT BLANK)
15. TEMPOPAPY EASEMENT PIGHTS TO INSTALL IMPROVEMENTS. The
IJ eve 1 () per" b;/~:;r~.i(,I'::l'q {tli~!;'Tii::!,f::'E~ E? i:ii(=~rlT;;""q i ?~!.;'"';. :EFle....'L~T{'.y' t~:T'ij'Fi+....'"c:).r.4;.c::'E.~": "", S~ 0 f'!
all of the bUDJect ~roperty to lnstall tne contemplated utl1l~y anD
street improvements referred to herein. It is anticipated that the
Developer will file the plat of Westwind on or before
t::'I'i~"F.:;t'::::'6'~r:::::'w'a';;:'-":ri:)'r: '''Fhi::?'''"'r::'(.; q u .i roO ~~ ~I i ~ !;~ r" f2 E? \~ ~. .;';;l, '~n d ~: ~~ I li t: i r: ~ :.. ill '":\ n f!:.' l"'! t 1 Y pI'" 0 \/ i d f:.'?
1. t:." ttU:~L:E,~:L:Lf:1NE.;;I:;tLJ.~::~ .
acc~;d~~~eD~r~~oE~~ :~~~o~~~sr~g~~c~p~e~T~n~n~~~dA~~eI~~~~
t.hf::'~r"'f:::on .
t.>'J.-Lll .
:in
prf:,'p<:3r"€:~ 01" c<.:l.U',3f!:? tD Pt'''/!:'?P,:;l.I'''f:'2 a cc)\/f.::;n,?l.n t ~ ~'Jhic: h covr::::'n"",n t. shal I bF2 of: 1.1 f:?d
wi t'.h thf:0 ~'Jr":i..qht, Cot.!.n tv Ff:~cor-dE~I'- <:\'1' t.f':?t... i t h,~s r'ec€,~ivE.d ",1. PDY"OV,::\ 1 in
h'H" i 'I" i n ('I n 'i' -t. j:. p r": i -I" v ~:., t. t n n'" ,7::. ',.I ':.l .... "'j .../ ~", i r' r" r" I"l'" E' P ,:, n '1- ":; TV"l'l) p r.~ 1-' ,:'1 j...,'j i <'''. h -t' h..:>
~~~~:t~~d-lg~~~~~~:;~~a~~ "It~:~h~i~t~~~~~a~~f~~~~~t.f~~~i~~~{~~~-Gti~~~
l!ilii:!~~1i~~~;i~;~iii~;;!I~~!:!!~~!!1~11!~11!j!i~:;~~i~~!I;~~!i;;!!1
lots in said plat. The said assessment shall be payable in one (1)
."l(..'0(~).rN fl
1.7. LiP;::l"'J CH'~ f::Xf:J..mJ~!Jj. LJ~IIt.:=;g PE.: !;Bf::PI.I:. In t:he eVE?nt i:':\ sw"ety m-'
~f. ;'~::~::DC~b~~:""~t.~t. t2/~a~;~n :~~~d i ~:~~ f ~~~~j::~~jl b;~o 1. t. ~~("~~~~;;'~;~S3 ~i 1 .}n t:';;~~~~;m~;O:~:I:: 1 (1' f <.,l.:'~~~;1
void prior to the time at which 'all money or obligation of the
Developer is paid or completed, it is agreed t.hat the Developer shall
~~~~~~:i7~:e~~;:~2;~;~~:~::~~~:;;~~~fE~~:i~~~:~~!;;:b~~~:;~~i~~~f:~~::~
~~~f~'t~~ fg:sC~}y~~r~t~c~~~i~g~ ~g~~i~~:de~gir~2~i~~~ter of credit to
~:;U.C c E~<;~~(~; r"~s \/I~~!~:BI.:~.l~~'.i gf~s O(:2e~;E'~LI~;~;.;~:~ I 2n~; h;~ 'f /!:~\i~r~~; tc ;~~~~;~l~: ;:;\~~ ~;;:.~~ ~~~p i~;.;:~' ~~;';~I~'jE?I:~; ~:~~~
herein r0nt~ipprl fhp ritv i~ hpr~~~ qr~ntprl thp rinht ~n~~ri\lilPGP
~~rt~i~~~~~~-~~~;~~;~.~~~!f!.~~i~;~~~~i~dt~~~~i~~;~~:f~:i~:~E~ ~~!~~1~
r", 'i' i" h (.". n p \l P ) C' P I:"' t". i . ,,::.~, ":, 1 '1 n f .1.. tn, .:., d I,',' ~., n r." 'i i" p r'l p <:::.1'- ~"'f'lIAl of I II'''li''l ,,::.. ('" r", ~' ri r"', r' ;:.) 1" .:.'
!!~~~:::~~U~~~~lt~~~::~~:f~~::~~~::~;::~~~~~:~~~i;t~~;E~!~~~~:~i~~~:~~E
"\(:j y-eEIn(,::.'n t .
',~.~.' ,._..j..~,.; t 0 rl......:,r~l.I,~,,:;,...)',.;,','I, '~..l ;,~" (:'.:.':hS~I:J.fl'..':~.:.',:N'~,I':"':':':"\I:~;~:':(~,f'~"l;f't':' f(.,:,."'t,~.",.,:.,;.1~.~:,:,'!!'~)::.!.,,., ~l~ :":.:.'.:.1. ::'.li'l:I-{~""~':):"~; I'J1~;; :~: ~~ t~ t'" :i. t: i .t, (.1 I,,:) P ~~: "? l~~' ~;; e <z\ c:: ~~ ~ r t r' ~ ~ ~". ~~ ~~ 't I (; ~
,', . l I .. ".1 .. ~ ....', . this Aqreement or in the event an
action is brought upon a bond or letter'of credit furnished by the
Developer as provided herei.n.
:::::0 .. NqTJ..t:::lJ~:l\IJJ)N I.!:~J.:::,qetI.O.I..LP.N . r:ln y not i c: e ~1; t. [) t.. he p <.,1. r t 1. E~S he t'" E:? i n
shall be by registered mail addressed as follows:
CITY OF ALBERTVILLE
~~g.C~~~ ~gTinistratDr/Clerk
Albertville. MN 55301
Telephone: (612) 497-3384
...>7
/ .......-,......-...-....,.."..,.,.............,....."........,......,..-
/
(,2 :
... .
:3: 1. . t ?'}~;F\:l;;~~t1.l::;:NJ: E~f::.Ft::(f.;I:'i T h:i.. "" t (.:~'~:I r- f:;'f,?m~;u(? C ~;~t,;~ii~ !"<;:, b~n ~li ~~~~;i~~i~lgn :~: Pg~f
~; ~~ ~: f[ 'l~ s F; ~ r'~? 'E t: t:? n0 p n;;'~:s €-?f'l '..:: ,:>, .: i \,-(2 S . '1 E~ 1. roO ~5 ;;
CITY OF ALBERTVILLE
By
roO
By
a!"'ld
t.he