Agenda - Council - 02/23/1999 - Laserfiche WebLink

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I I I Feb-19-99 I I i I 02:11P P.07 (vi) That buyer agrees to dedicate additional reasonable land to thc City of Ramsey adjacent to State Highway 47 in the event the City determines additional right-of-way is necessary to accommodate Highway 47 right-of- way purposes. (vii) Such other terms and conditions as are customary in development agreements approved by the CITY OF RAMSEY. If BUYER and SELLER have not executed such a development agreement by July 1, [999, this Agreement shall be terminated without further obligation by either party. d. Buyer's approval of a Phase I environmental Reporg which Phase I Report is to be obtained at Buyer's expense If the contingencies set forth in this subparagraph section 5. have not been satisfied by the Closing Date, BUYER or SELLER may terminate this Agreement by giving written notice to the other on or before the Closing Date. If this Agreement is so terminated, the Earnest Money shall be promptly returned to BUYER, except as otherwise provided in Section 3 herein. 6. REAL ESTATE TAXES AND SPECIAL ASSESSM2ENTS. SELLER and BUYER shall pro rate all real estate taxes, penalties and interest, if any, payable in i999. BUYER shall pay all real estate taxes due ia 2000 and thereafter. 6.1 LEVIED SPECIAL ASSESSMENTS. SELLER shall pay all installments of special assessments certified for payment with the real estate taxes due and payable in 1999 and all other special assessments levied as of the date of this Agreement. 6.2 PENDING SPECIAL ASSESSMENTS. SELLER sha[I provide for payment of special assessments pending as of the date of' this Agreement for improvements that have been ordered by the City Council or other governmental assessing authorities. As of the date of this