Agenda - Council - 06/23/2009 - Laserfiche WebLink

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WHEREAS, the City desires to terminate the Master Development Agreement and the Parkland and Trail Plan Agreement pursuant to Section 15.3(c) and 15.3(d) based on Ramsey Town Center, LLC's defaults. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA: That, based on the defaults described in the City's August 11, 2006 Notice to Ramsey Town Center, LLC and Community National Bank, City Staff is authorized to terminate the Master Development Agreement and the Parkland and Trail Plan Agreement in accordance with Section 15.3 of the Master Development Agreement. 2. That the Mayor and City Administrator are authorized to sign the attached Termination of Master Development Agreement and the Parkland and Trail Plan Agreement at any time after the date of this Resolution. The Termination of Master Development Agreement and the Parkland and Trail Plan Agreement is not effective and the Master Development Agreement and the Parkland and Trail Plan Agreement are not terminated unless and until the Mayor and City Administrator execute the Termination of Master Development Agreement. 3. That the Parking Improvement Agreement and the Secondary Development Agreements, Allocation Agreements and Escrow Agreements shall not be terminated or otherwise affected by the termination of the Master Development Agreement and the Parkland and Trail Plan Agreement. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same. and the following were absent: and the following abstained Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this the 23 day of June, 2009. Mayor ATTEST: City Clerk Resolution #09 -06 -135 Page 3 of 3