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heating requirements, cla?kns that the Su'~ect Prope~y, or any pan~ thereof, does not receive a
<br />benefit from the Phase I Parking Ramp, claims that the assessment is not uniform uoon the same
<br />classes of prope,uy and clan'ns that the amount of the special assessment allocated to any lot or
<br />outlot pursuant to Ex&ibit F exceeds the benefit to such lot or outlot or portion of the Subject
<br />Property,.. The Developer also waives any appeal fights otherwise available pursuant to
<br />ivlinnesota Statutes, Section 429.081. The City does not intend to levy the special assessment
<br />until immediately prior to or after the Civ's conch'action of the Phase I Parking Ramp, and'until
<br />that'time, the assessment desc~bcd in this Section 9.6 constitutes a pending special assessment.
<br />Once the City levies thc special assessment, and subject to Section 9.7 below, thc Developer
<br />must oay the installments of the special assessment certified for payment with annual real estate
<br />taxes 'when and as they become due. Upon the recording of the Master Final Plat, the pending
<br />special assessment described in this Section 9.6 is allocated among the lots and outlots the
<br />Master Final Plat creates'in the manner set forth on the attached Exhibit F. If a subsequent Final
<br />Plat for a Phase subdivides one or more of the lots or outlots referenced on Exhibit F, the City
<br />must allocate the special assessment pending or levied against that lot or outlot among the lots or
<br />outlors created by such Final Plat. The Developer or a Secondary Developer must prepare and
<br />submit to the City, for its review, a proposed allocation of the pending or levied special
<br />assessment among the lot or outlots created by such Final Plat. The City must adopt the
<br />Developer's Or, if applicable, a Secondary Developer's proposed all~ocation if the Developer's or,
<br />if arx>iicable, a Secondary. Developer's proposed allocation is done on a per square foot basis.
<br />Th~ ~iW may accept or reject other proposed allocations in its sole and absolute discretion. If
<br />the cost'of the Phase I Parking Ramp is Fearer than anticipated, the City reset'yes the r/bt to
<br />lev?' an assessment in a ~eater amoumt or levy supplemental assessments pursuant to M'innesota
<br />Statutes, Section 429.07i, but the Developer has not, in any way, consented or agreed to an
<br />assessment in an amount ~eater than $6,000,000 or to supplemental assessments or waived any
<br />appeal fights with respect to an assessment i.n an amount greater than $6,000,000 or to
<br />supplemental assessments.
<br />
<br />9.7 PKEPA',/fMENT OF SPECLaL ASSESSM~NTS FOR PI-L,~SE I PUBLIC
<br />
<br />p,~p,X_~'G K~N,~ r rPON' SALE OR TP,~ uNSrER. Under Minnesota Statutes, Chapter 429, the
<br />Ci~ may cause the amounts assessed against the Subject Property for the Phase I Public Par'king
<br />Rams to be payable in a single installment or in equal annual Lnst.allments extending over a
<br /> ~xc~...c 30 years.
<br />penoo not to ,~ ,~,~ ~ The City will make the special assessment described in Section
<br />9.6 payable in annual installments extending over 20 years in consideration for the Developer's
<br />a~eement, subject to Section 16.6, to pay the entire, uncertified balance of the special
<br />assessment levied pursuant to Section '9.6 against any lot or outlot (whether such lot or outlot is
<br />created in the Master Final Plat or is created as a result of a subsequent subdivision of all or a
<br />sortion of a lot or outlot created in .the Master Final Plat or a Final Plat for a Phase) upon the sale
<br />or transfer (including, but not limited to: the conveyance of equitable ownership lpursuant to a
<br />contract for deed) of that lot or outlot. ~ the De~,eloper conveys or otherwise transfers
<br />ownership of a lot or outlot subject to the special assessment described in Section'9.6 before the
<br />Cib' levies the snecial, assessment, the Developer must, subject to Section t 6.6, escrow the
<br />sonion of the pendin~ special assessment attributable to that .lot 'or outlot with the Ci~ or with a
<br />iitie insurance company reasonably acceptable to the City to provide for the payment of the
<br />special assessment attributable to that lot or outloz when the City levies the special assessment,
<br />and the purchaser must, in the escrow a~eement, aclanowledge and a~ee that it is subjec~ to and
<br />bound by. the ~.ons,.n,. ~ '~ ~ and waivers desc~bed in Section 9.6 above. If the Developer elects to
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