Agenda - Council - 11/12/2013 - Laserfiche WebLink

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The City may accept of reject other proposed allocations in its sole and absolute discretion If the cost of the City Phase 1T Roadway Improvements is greater than anticipated, the City reserves the nght to levy an assessment in a greater amount or levy supplemental assessments pursuant to Minnesota Statutes, Section 429 071, but the Developer has not, in any way, consented or agreed to an assessment m an amount greater than $335,660 00 of to supplemental assessments or waived any appeal rights with respect to an assessment in an amount greater than $335,660 00 or to supplemental assessments 7 13 PREPAYMENT OF CITY PHASE II ROADWAY IMPROVEMENTS, SPECIAL ASSESSMENTS UPON SALE OR TRANSFER Under Minnesota Statutes, Chapter 429, the City may cause the amounts assessed against the Subject Property to be payable in a single installment or an equal annual installment extending over a period not to exceed 30 years The City will make the special assessment descnbed rn Section 7 12, payable in annual installments extending over 15 years in consideration for the Developer's agreement subject to Section 16 6 to pay the entire, uncertified balance of the assessment levied pursuant to Section 7 12 against any lot or outlot (whether such lot or outlot is created in the Master Final Plat or is created as a result of a subsequent subdivision of all or a portion of a lot or outlot created m the Master Final Plat or a Final Plat for a Phase) upon the sale or other transfer (including, but not limited to, the conveyance of equitable ownership pursuant to a contract for deed) of that lot or outlot If the Developer conveys or otherwise transfers ownership of a lot or outlot subject to the assessment descnbed in Section 7 12 before the City levies the assessment, the Developer must subject to Section 16 6 escrow the portion of the pending special assessment attributable to that lot or outlot with the City or with a title insurance company reasonably acceptable to the City to provide for the payment of the special assessment attnbutable to that lot or outlot when the City levies the special assessment, and the purchaser must, in the escrow agreement, acknowledge and agree that it is subject to and bound by the consents and waivers descnbed in Section 7 12 above If the Developer elects to escrow the funds with a title insurance company , the City must be a party to the escrow agreement ARTICLE 8 CITY UTILITY IMPROVEMENTS 8 1 CITY OBLIGATION TO CONSTRUCT CITY UTILITY IMPROVEMENTS The City will construct the City Utility Improvements pursuant to this Article 8 8 2 DESIGN OF CITY UTILITY IMPROVEMENTS The City will forthwith design the City Utility Improvements The Developer has submitted proposed designs for the City Utility Improvements to the City, and the City will consider these proposed designs in the City's design process When the City completes its design process for each phase of the City Utility Improvements and before the City commences construction of that phase, the City will provide the Developer with copies of plans and specifications showing the City's design for that phase and will inform the Developer that the plans represent the final design plans upon which the City intends to base its public bid specifications The Developer shall have 10 days from the receipt of the City's final design plans to provide final comments to the City 8 3 COMMENCEMENT AND COMPLETION OF PHASE I CONSTRUCTION Subject to Foice Majeure, the City is obligated to commence and complete constriction of the 1555730v13 24