Agenda - Council - 05/09/1995 - Laserfiche WebLink

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I I II i I I I I I I ! I I I I I ! I provided; and that ~ts of the date hereof, it has fee simple absolute title in the Subject Property, which is not subjec! to any liens, interests, or encumbrances, except as listed on Attachment Two, attached hereto and .~ereby made a part hereof. 3. Owner requests that 100% of the cost of the Improvement Project be assessed against the Subject Property. Owner understands and agrees that the cost of the Improvement Project will be dete Sections 4.60 to Hundred Fifty Seve be spread on a unit ( Subject Property ex~ or upon future subd: rmined in accordance with the Ramsey City Charter and Ramsey City Code ;0.23 and standard city practices and that such cost is estimated to be One Thousand Two Hundred Dollars ($157,200.00). Special assessments shall per lot) basis in accordance with standard city assessment practices, against the :lusive of public fight-of-way or land dedicated to the public at the present time .vision of the Subject Property. 4. Owner waives 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 Improvemint Project be constructed and special assessments levied therefor without hearings. '~ 5. Owner waives the fight to appeal the levy of special assessments in accordance with this Agreement pursuant to City Code Section 4.60.12, or reapportionment thereof upon land division pursuant tci City Code Section 4.60.11, or otherwise, and further specifically agrees with respect to such spec!al assessments of reapportionment that: a. Any ~'equirements of City Code Sections 4.60 to 4.60.23 with which the City does not ~mply are hereby waived by Owner. The ~ ncrease in fair market value to the Subject Property resulting from construction of th. ~ Improvement Pro'ect, j will be in an amount of at least the amount, of the. total pote]ltial project cost specified in paragraph 3, above, and that such ~ncrease ~n fair mark :t value is a special benefit to the Subject Property. Asse ~sment 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. ' Owner further specifically waives notice and fight to appeal reapportionment of such! special assessments upon land division pursuant to City Code Section 4.60;11. Owner understands and agrees that the City may provide for the payment of such special assessments in installments bearing such interest as may be determined by the (]ity Council. However, the decision whether to allow payment in installments, the p~riod 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 only ~to limitations imposed by law. The Covenants, Waivers and agreements contained in this Agreement shall bind the succ4ssors, and assigns of the Owners and shall run with the land legally described in A~tachment One and bind all successors in interest thereof. It is the intent and agreqment of the parties hereto that this Agreement be in a form which is recordable in th~ office of the County Recorder of Anoka County, Minnesota and agree to make[ any changes in this Agreement to effect the recording and filing of this Agreement against the title of the Subject Property.