Agenda - Council - 08/03/1992 - Special

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EXHIBIT B ,WOOD POND HILLS 2ND ADDITION SPECIAL ASSESSMENT AGREEMENT THIS AGREEMENT made this da), of , 1992, by and between the City of Ramsey, a Minnesota municipal corporation (hereinafter referred to as the "City"), and WPH Properties, Inc., a Minnesota corporation; W1TNESSETH: WHEREAS, WPH Properties, Inc. (hereinafter referred to as "Owner") is the owner of certain real property in the City of Ramsey, legal})' described in Attachment One, attached hereto and hereby m~e a pan hereof (hereinafter referred to as the "Subject Property"); and WHEREAS, Owner desires to subdivide and develop the Subject Property; and WHEREAS, the developmenl of the Subject Property will require the construction of certain public improvements, generally including sanitary sewer, storm drainage facilities, water mains and appurtenances and streets with concrete curb and gutter (hereinafter referred to as the "Improvement Project"); and WHEREAS, a public heating on the Improvement Project was duly held on Jul), 9, 1991; and WHEREAS, the Owner wishes for the City to construct the Improvement Project without notice of hearing or hearing on the special assessments levied to finance the Improvement Project, and to levy 100% of the cost of the Improvement Project against the Subject Property; and WHEREAS, the City is willing to construct the Improvement Project as requested by the Owner without such notice or hearing, provided the assurances and covenants hereinafter stated are made by Owner to ensure that the City will have valid and collectable special assessments to finance the cost of the Improvement Project; and WHEREAS, were i: not for the assurances and covenants hereinafter provided, the C/ty would not construct the Improvement Project without such notices and hearings and is doing so solely at the behest, and for the benefit, of the Owner: NOW, "D--IEREFORE, ON THE BASIS OF THE PREMISES AND THE MUTUAL COVENANTS AND AGREEN'LE. NTS HEREINAFTER PROVIDED, THE PARTIES HERETO AGREE AS FOLLOWS: 1. Owner hereby petitions the City for construction of the Improvement Project on the Subject Prope~,. 2. Owner represents and warrants that it is the Owner of 100q'c of the Subject Property; that it has full legal power and authority to encumber the Subject Property as herein provided; and that as of the date hereof, it has fee simple absolute title in the Subject Property, which is not subject to an,,, liens, interests, or encumbrances, except as listed on Attachment Two, attached hereto and hereby made a part hereof.