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10/09/12
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10/09/12
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7/18/2025 11:18:55 AM
Creation date
10/8/2012 8:46:15 AM
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Meetings
Meeting Document Type
Agenda
Document Title
Housing & Redevelopment Authority
Document Date
10/09/2012
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B. Records. An Owner performing maintenance or making repairs or <br />replacements pursuant to Sections 2.A(ii), 2.B(ii) or 2.C(ii) of this Article <br />III (a "Maintaining Owner") must maintain accurate records regarding the <br />West Access Easement Maintenance Costs, East Access Easement <br />Maintenance Costs, or Shared Storm Sewer Improvement Maintenance <br />Costs the Maintaining Owner incurs (the "Maintenance Costs Records"); <br />provided the Maintaining Owner may, at any time, discard Maintenance <br />Costs Records that are more than seven (7) years old. A Owner who is <br />obligated to pay a Maintaining Owner for West Access Easement <br />Maintenance Costs, East Access Easement Maintenance Costs or Shared <br />Storm Sewer Improvement Maintenance Costs (a "Paying Owner") may, <br />upon submission of a written request to the Maintaining Owner to whom <br />the Paying Owner is obligated to make payments, examine such <br />Maintaining Owner's Maintenance Cost Records and the Maintaining <br />Owner must make its Maintenance Cost Records available to the Paying <br />Owner for review within thirty (30) days of the Paying Owners' Request. <br />If, after inspecting a Maintaining Owner's Maintenance Cost Records, a <br />Paying Owner believes there are errors or discrepancies in the Maintaining <br />Owners Maintenance Records which have resulted in overpayment by the <br />Paying Owner, the Paying Owner may notify the Maintaining Owner of <br />the existence and substance of all discrepancies the Paying Owner is <br />alleging. The Paying Owner and the Maintaining Owner shall have thirty <br />(30) days to resolve the alleged discrepancies to their mutual satisfaction, <br />and if they are not successful in resolving the discrepancies to their mutual <br />satisfaction, either the Maintaining Owner or the Paying Owner may in <br />Anoka County District Court to pursue any and all remedies available at <br />law or in equity including, but not limited to the commencement of one or <br />more actions seeking monetary damages, injunctive relief and specific <br />performance. In any such action, the prevailing party shall be entitled to <br />recover its reasonable attorney fees and costs and, if the Paying Party <br />prevails, the Paying Owner may also recover the actual out of pocket costs <br />the Paying Owner incurred to review and audit the Maintaining Owners <br />Maintenance Records <br />C. Interest and Late Fees. If any Paying Owner fails to pay its share of <br />West Access Easement Maintenance Costs, East Access Easement <br />Maintenance Costs or Shared Storm Sewer Improvement Maintenance <br />Costs within thirty (30) days after receipt of a Payment Request, then in <br />addition to such rights and remedies provided for under Section 6, the <br />Maintaining Owner entitled to receive such payment is entitled to also <br />receive: (i) interest at a rate equal to the lower of the highest rate <br />permitted by law, or four percent (4%) above the reference rate announced <br />from time to time by U.S. Bank, N.A., Minneapolis office (or the <br />reference rate of any successor bank designated by mutual agreement of <br />the parties), from the date the payment was due until the date the payment <br />is received; (ii) a late payment charge in the amount of Two Hundred Fifty <br />Dollars ($250.00), not as a penalty, but as a way of defraying the costs that <br />7 <br />4873445v8 <br />
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