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07/17/12 Work Session
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07/17/12 Work Session
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Meetings
Meeting Document Type
Agenda
Document Title
Housing & Redevelopment Authority - Work Session
Document Date
07/17/2012
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special service district that would include all or any portion of the Affiliated <br />Entities' Property and obligating the owner(s) of the HRA Property to join with <br />the owners of the Affiliated Entities' Property in seeking to veto any special <br />service district Ordinance that creates a special service district that includes all or <br />any part of the Affiliated Entities' Property; and <br />(iii) the execution and recording of the Parking Easement Agreement. <br />(1) Recital Twelve. The HRA and the Affiliated Entities are entering into this <br />Agreement in consideration of the agreements set forth herein. <br />Section 4. Master Declaration. <br />(a) Second Amendment. Contemporaneously with the execution of this <br />Agreement, the HRA and the Affiliated Entities will execute and submit to the Master <br />Association's board of directors (the "Board") a written demand that the Board call a <br />special meeting of the Members to consider and vote on a second amendment to the <br />Master Declaration in the form attached as Exhibit H (the "Second Amendment"). The <br />HRA and the Affiliated Entities agree to encourage the Board to call the special meeting <br />as promptly as reasonably possible and to promptly send all notices of the special <br />meeting that Minnesota Statute § 317A.435 and the Master Association's bylaws require. <br />The HRA and the Affiliated Entities each agree to (a) have an authorized representative <br />attend the special meeting of the Members; (b) have their authorized representatives cast <br />all of their votes in favor of the Second Amendment; (c) encourage other Members of the <br />Master Association to have an authorized representative attend the special meeting; and <br />(d) encourage other Members to have their authorized representatives cast their votes in <br />favor of the adoption of the Second Amended. The HRA and each of the Affiliated <br />Entities also agree that at or before the special meeting they will cause an authorized <br />officer to execute a Confirmation and Acknowledgment in the form attached to the <br />Second Amendment. It may be necessary to obtain an Order in Proceedings Subsequent <br />to Initial Registration of Land to cause the Anoka County Registrar of Titles to omit the <br />memorials of the Master Declaration and the Second Amendment from future Certificates <br />of Title for "Torrens" portion of the HRA Subject Property, and each of the Affiliated <br />Entities agrees that if the HRA commences Proceedings Subsequent to Initial <br />Registration of Land seeking an Order directing the Anoka County Registrar of Titles to <br />omit the memorials of the Master Declaration and the Second Amendment from the <br />Certificates of Title for the "Torrens" portion of the HRA Subject Property, they will, <br />upon the HRA's written request, consent to the issuance of such an Order. <br />(b) Sale of the HRA Property. If the HRA seeks to sell one or more portions <br />of the HRA Subject Property before the Second Amendment is recorded, each Affiliated <br />Entity, in its capacity as a member of the Master Association, agrees to cooperate with <br />the HRA to cause the Master Association to (i) execute a commercially reasonable form <br />of estoppel certificate evidencing the status to the HRA's performance of its obligations <br />under the Master Declaration and (ii) execute a waiver of any provisions of Section 9 of <br />the Master Declaration that could be interpreted as requiring the HRA, or a party <br />purchasing a portion of the HRA Subject Property, to obtain the approval of the ARC, as <br />3 <br />4517963v7 <br />
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