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[DRAFT]
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<br />to the percentages set forth on Exhibit .4-I), pursuant to Minnesota Statutes, Chapter 4-2-9429~, thee
<br />Ci~, Charter and the City Ordinances and waives any and all procedural and substantive
<br />objections to a special assessment in that amount, including, but not limited to, notice and
<br />hearing requirements and'a claim that the amount of the special assessment exceeds the benefit
<br />to the City m..~^ T, o ^~.~ ......T .......... +~. ·
<br /> ................ ) ****v ............ Project Assessment Parcels. Developer also waives
<br />any appeal rights otherwise available pursuant to Minnesota Statutes, Section ~,n
<br />................... , ...... ~,., agrccs to429.081 and any r ts avaffable under the CJI3,
<br />Charter or the City Ordinances. The GiB, does not intend to lew, the special assessment
<br />until the Git3, completes the Cit3, Phase II Roadway Improvements. Until that time, the
<br />assessments shall constitute pending special assessments.. Once the City levies the special
<br />assessments and subject to Section 7.13 below, Developer must pay the installments of special
<br />assessments certified for payment with annual real estate taxes when and as they become due. I£
<br />a subsequent Final Plat for a Phase subdivides one or more of the City Phase II Roadway
<br />Improvements Assessment Parcels, the City must allocate the special assessments pending or
<br />levied against that parcel among the lots created by such Final Plat. The Developer must prepare
<br />and submit to the City, for its review, a proposed allocation of the pending or levied special
<br />ass&ssments among the lots created by such Final Plat. The City must adopt the Developer's
<br />proposed allocation if the Developer's proposed allocation is reasonable in light of the benefit
<br />each parcel will receive from the City Phase II Roadway Improvements. If the Cost of the Cit~
<br />Phase II Roadway Improvements is greater than anticipated, the City reserves the right to
<br />levy an assessment in a greater amount or ie~w supj31emental assessments pursuant to
<br />Minnesota Statutes, Section 429.071, but the Developer has not, in any way, consented or
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<br />.a__greed to an assessment in an amount greater'than $ or to supplemental '
<br />assessments or waived any a~_e~al rights with respect to an assessment in an amount
<br />greater than_~_ or to supplemental assessments.
<br />
<br /> 7.1~3_ -%t4-PREPAYMENT OF CITY PHASE II ROADWAY IMPROVEMENTS:
<br />SPECIAL ASSESSMENTS UPON SALE OR TRANSFER. Under Minnesota Statutes,
<br />Chapter ~[29, the City may cause the amounts assessed a~ainst~ the "~;+-',_.~ u' *m'~^*,-o'~ ~ ~-~,'-~° ~.,~ ......
<br />-~,,~ ............. P~ o.lect Assessment Parcels to be payable in a single installment or an equal
<br />annual installment extending over a period not to exceed ~3~ years. The City will make the
<br />assessments deschbed in Section 7.147.1~ above, payable in equal a~ual installments extending
<br />over 15 years in consideration for the Developer's a~eement to payee entire, unce~ified
<br />balance of the assessment levied pursuant to Section ~7.1~ above against any lot or parcel
<br />which is 'a pa~ of the ~;+" o~ ~ o ~..~ ...... ~ ............... ·
<br /> ~,u ................ ~ .... ~ ............ Pro.lect Assessment Parcels (whether
<br />such lot or parcel cu~ently exists or is created as a result of a subsequent subdivision of all or a
<br /> ~*u .................. ,~. ,**,~ ..... ~ ........ Pro.leer Assessment Parcel) upon the sale or
<br />other transfer (including but not limited to, conveyance of equitable ownership pursuant to a
<br />contract for deed) of that l ol.or parcel. If the Developer conveys or othemdse transfers
<br />ownership of a lot or pm'ce] k~,~,~ ,~**~ ~;,..~,~ ,~,,~-"; ~. thc subject to the assessments
<br />...... · **] ...... descr ~bed in Section 7 ~ ~ ~u .... ,u~ ~ .... ~ .......... +;~¢. ;+~ ~:.~,; ...... ~
<br />
<br />....... ) .......... ~ ........... 7.6 above before the CiB, levies the assessment the Developer
<br />must escrow % of the portion of the pending Special assessment against ,k~ ~ ......... ~
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<br />1555730.red
<br />\'8 tp V6:
<br />8/29/03
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