Agenda - Council - 05/23/1995 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I 3. Owners request that 100% of the cost of the Improvement Project be assessed against tht; Subject Property. Owner understands and agrees that the cost of the Improvement Projec~ will be determined in accordance with the Ramsey City Charter and Ramsey City Code Sections 4.60 to 4.60.23 and standard city practices and that such cost is estimated to be One Hundred Twenty. Two Thousand Six Hundred Fifty Two Dollars ($122,652.00) Dollars. Special assessment~ shall be spread on a unit (per lot) basis in accordance with standard city assessment practice~, against the Subject Property exclusive of public right-of-way or land dedicated to the pubic at the present time or upon future subdivision of the Subject Property. 4. Ownqrs 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 Improvemegt Project be constructed and special assessments levied therefor without hearings, r 5. 0wne~'s waive the fight to appeal the levy of special assessments in accordance with this Agreement pura. uant to City Code Section 4.60.12, or reapportionment thereof upon land division pursuant to ~ity Code Section 4.60.11, or otherwise, and further specifically agrees with respect to such speciatl assessments of reapportionment that: r a. Any ~r~'quirements of City Code Sections 4.60 to 4.60.23 with which the City does not cc~mply are hereby waived by Owner. i . b. The ir~crease m fair market value to the Subject Property resulting from construction of theilmprovement Project will be in an amount of at least the amount of the total poten',flal project cost specified in paragraph 3, above, and that such increase in fair mark~.t value is a special benefit to the Subject Property. c. Asses[;ment of 100% of the cost of the Improvement Project against the Subject Prope'_.tty is reasonable, fair and equitable and there are not other properties against which~ such cost should be assessed. d. Owne~:s further specifically waives notice and right to appeal reapportionment of such ~pecial assessments upon land division pursuant to City Code Section 4.60.il. 6. Ownei:s understand 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 City Council. However, the decision whether to allow payment in installments, the pei:iod of time over which the special assessments may be paid and the interest rate toI be applied is in the absolute and sole discretion of the City Council, subject only tO limitations imposed by law. 7. The c0~venants, waivers and agreements contained in this Agreement shall bind the successors, and assigns of the Owners and shall run with the land legally described in Att~.chment One and bind all successors in interest thereof. It is the intent and agreer!lent of the parties hereto that this Agreement be in a form which is recordable in the office of the County Recorder of Anoka County, Minnesota and agree to make my changes in this Agreement to effect the recording and filing of this Agreer aent against the title of the Subject Property. This ~greement shall terminate upon the final payment of all special assessments against the Subject Property levied pursuant to this Agreement for the Improvement Project, and the City shall execute and deliver such documents, in recordable form, as are ~ecessary to extinguish its rights hereunder.