Agenda - Council - 03/08/1994 - Laserfiche WebLink

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I '1 I i I I I I I I I I I I ! I I corporatiog, all of Outlot A, Outlot B, Outlot D, and Outlot E (formerly the p~rk in White Pine Estates), subject to the sole condition ~hat said property be utilized for public recreational purposes COnsisting of a golf course, to De opened for play to the general public as described by Exhibit C attached hereto. Even thoug~ the proposed golf course shall be open to the general public as ~escribed herein, the real property on which the golf course is ~ocated shall be subject to real property taxes, and not exempt:! therefrom by virtue of said golf course being forever open to th~ public. ~he conveyance of said Outlots A, B, and D shall be made as soon as practical after any operational time periods asi required by the City Charter or City ordinances, subject toy the contingenc-y noted in Article 4 below (see Exhibit C attachedi for form of restrictions to be imposed by City). e. ~avm~nt for Park Notwithstanding the provisions of article 3d~, above, Developor z~ha.ll cause to be placed into escrow the sum of~ $5100.00, which sum shall be paid over to the City in the event -~hat the City, at it8 option, determines to accept said payment. ~t is acknowledged by City that this sum represents the ~m'~unt of ~h:~rk land dc:~ication fee which would have been paid had a park lan~ dedication fee been utilized in the platting of White Pine Estat~ s. City further a~knowledges, however, that it has been informed that Rum River Hills, Inc. intends to make a proposal ~ the City, which proposal will be presented within 120 days afterl the filing of the plat, describing an alternative method of ~roviding oonsideration to the City for its conveyance of Outlot E. However, it shall be solely the option of the City as to whe~er or not to accept said alternative method of