Agenda - Council - 11/22/2011 - Laserfiche WebLink

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429.071, Subd. 3. 6. The 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 city council. However, the decision regarding 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 only to limitations imposed by law. 7. Owner represents and warrants that the Subject Property is not so classified for tax purposes as to result in deferral of the obligation to pay special assessments; and Owner agrees that it will take no action to secure such tax status for the Subject Property during the term of this Agreement. 8. The covenants, waivers and agreements contained in this Agreement shall bind the successors and assigns of the Owner and shall run with the Subject Property and bind all successors in interest thereof. It is the intent of the parties hereto that this Agreement be in a form that is recordable among the land records of Anoka County, Minnesota; and they agree to make any changes in this Agreement which may be necessary to effect the recording and filing of this Agreement against the title of the Subject Property. 9. This Agreement shall terminate upon the final payment of all special assessments levied against the Subject Property regarding the Improvement Project, and the City shall thereupon execute and deliver such documents, in recordable form, as are necessary to extinguish its rights hereunder. 10. If Owner constructs the Improvement Project and connects the buildings on the Subject Property to the municipal sewer system in accordance with all applicable governmental codes and regulations prior to August 1, 2011, this Agreement shall be void and of no further force or effect. 11. Effective upon the date hereof, the Owner hereby grants the City and its agents, employees, contractors and invitees the right to enter upon the Subject Property for purposes of installing and constructing the Improvement Project. 12. In consideration for the right of entry, the City agrees to and shall indemnify, defend and hold harmless Owner and their heirs and personal representatives from and against any action, claim, damage, liability, loss, cost or expense (including, without limitation, attorneys fees and costs), resulting from said installation and construction of the Improvement Project on the Subject Property. 13. This Agreement may be amended by the parities hereto only by written instrument executed with the same procedures and formality followed in the execution of this agreement. above. IN WITNESS WHEREOF, the parties have set their hands the day and year first written 3