Agenda - Council - 03/24/1998 - Laserfiche WebLink

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DRAFT 3/18/98 This Agreement shall remain in effect and inure to the benefit and be binding upon the successors and assigns of the parties through the Maturity Date as described in the Development Agreement. As provided in M.S. §469.177, Subd. 8, nothing contained herein shall be deemed to limit the right or opportunity of the Developer to challenge, through any legal means, that part of any valuation on the market value of the Property, which is in excess of the stipulated minimum market value contained in this Agreement, provided, however, that the Developer may not institute or prosecute any challenge to the excess which, if successful, would also result in a reduction of the assessment below the stipulated value. Capitalized terms not otherwise defined herein have the meanings given them in the Development Agreement. CITY OF RAMSEY~ MINNESOTA PECK CONSTRUCTION, INC. By Its: By Mayor Its: Pre~i~tont By Its: City Administrator By Its: STATE OF MINNESOTA ) COUNTY OF ANOKA ) On this _day of.. ,1998, before me, a Notary Public, personally appeared Thomas G. Gamec and James E. Norman to me personally known, who, being each by me duly sworn did say that they are respectively the Mayor and City Administrator of the City of Rarnsey, the Municipal Corporation named in the foregoing instrument, and the seal affixed to said instrument is the corporate seal of said Municipal Corporation, and the said instrument was signed and sealed on behalf of said Municipal Corporation by authority of its City Council and said Thomas G. Gamec and James E. Norman acknowledge said instrument to be the free act and deed of said Municipal Corporation. Notary Public Page 28 I I I I I I ! I I I I I I I