Agenda - Council - 04/11/1995 - Laserfiche WebLink

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I I I I I i I I I I 2. owners represent and warrant that it is the Owner of 100% of the Subject Property; that it has full le ~g~d power and authority to encumber the Subject Property as herein provided; and that as of the da~ hereof, it has fee simple absolute title in the Subject Property, which is not subject to any li6ns, interests, or encumbrances, except as listed on Attachment Two, attached hereto and hereb~ made a part hereof. 3. OWners request that 100% of the cost of the Improvement Project be assessed against the SubjOct Property. Owner understands and agrees that the cost of the Improvement Project will be d~termined in accordance with the Ramsey City Charter and Ramsey City Code Sections 4.60 to i4.60.23 and standard city practices and that such cost is estimated to be One Hundred Fifty SS .Thousand Dollars ($156,000.00). Special assessments shall be spread on a unit (per lot) b~is an accordance with standard city assessment practices, against the Subject Property exclusiv~ of public right-of-way or land dedicated to the public at the present time or upon future subdivisioa of the Subject Property. 4. OWners waive notice of hearing and hearing on the special assessments levied to finance the ImprOvement Project pursuant to City Code Section 4.60.10 and specifically requests that the Improve~ment Project be constructed and special assessments levied therefor without hearings. 5. Owners waive thc fight to appeal the levy of special assessments in accordance with this Agreement l~Ursuant to City Code Section 4.60.12, or reapportionment thereof upon land division pursuan~ to City Code Section 4.60.11, or otherwise, and further specifically agrees with respect to such s~cial assessments of reapportionment that: A~ay requirements of City Code Sections 4.60 to 4.60.23 with which the City does nrit comply are hereby waived by Owner. The increase in fair market value to the Subject Property resulting from construction of~the Improvement Project will be in an amount of at least the amount of the total pqtential project cost specified in paragraph 3, above, and that such increase in fair rn~rket value is a special benefit to the Subject Property. Assessment of 100% of the cost of the Improvement Project against the Subject Property is reasonable, fair and equitable and there are not other properties against which such cost should be assessed. OWners further specifically waives notice and fight to appeal reapportionment of su~ch special assessments upon land division pursuant to City Code Section 4.'60.11. OWners understand and agrees that the City may provide for the payment of such sp~ecial assessments in installments bearing such interest as may be determined by th_~ City Council. However, the decision whether to allow payment in installments, the period of time over which the special assessments may be paid and the interest rate to be applied is in the absolute and sole discretion of the City Council, subject ori/y to limitations imposed by law. The covenants, waivers and agreements contained in this Agreement shall bind the successors, and assigns of the Owners and shall run with the land legally described inlAttachment One and bind all successors in interest thereof. It is the intent and agreement of the parties hereto that this Agreement be in a form which is recordable ini the office of the Cou. nty Recorder of Anoka County, Minnesota and agree to