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3. Owner requests that 100% of the cost of the improvement Project be assessed <br />against the SUbject Property. Owner understands and agrees that the cost of the Improvement <br />Project will be determined in accordance with the Ramsey City Charter and Ramsey City Code <br />Sections 4.60 to '4.60.23 and standard city practices and that such cost is estimated to be Sixty- <br />Two Thousand Dollars ($62,000.00). Special assessments shall be spread on a unit (per lot) basis <br />in accordance with standard city assessment practices, against the Subject Property exclusive of <br />public right~0f-way or land dedicated to the public at the present time or upon future subdivision of <br />the Subject Property. <br /> <br /> 4. Owner waives notice of hearing and hearing on the special assessments levied to <br />finance the Improvement Project pursuant to City Code Section 4.60.10 and specifically requests <br />that the Improvement Project be constructed and special assessments levied therefor without <br />hearings. <br /> <br /> 5, OWner waives the right to appeal the levy of special assessments in accordance with <br />this Agreement pursuant to City Code Section 4.60.12, or reapportionment thereof upon land <br />division pursuam lo City Code Section 4.60.11, or otherwise, and further specifically agrees with <br />respect to such si:racial assessments of reapportionment that: <br /> <br />AnY requirements of City Code Sections 4.60 to 4.60.23 with which the City does <br />not: comply are hereby waived by Owner. <br /> <br />The increase in fair market value to the Subject Property resulting from construction <br />of the Improvement Project will be in an amount of at least the amount of the total <br />potential project cost specified in paragraph 3, above, and that such increase in fair <br />market value is a special benefit to the Subject Property. <br /> <br />Co <br /> <br />Assessment of 100% of the cost of the Improvement Project against the Subject <br />Property is reasonable, fair and equitable and there are not other properties against <br />which such cost should be assessed. <br /> <br />Owner further specifically waives notice and right to appeal reapportionment of <br />such special assessments upon land division pursuant to City Code Section <br />4.60.11. <br /> <br /> 6. ' Ow~ner understands and agrees that the City may provide for the payment of such <br />special assessments in installments bearing such interest as may be determined by the City Council. <br />However, the recision whether to allow payment in installments, the period of time over which the <br />special assessmenlts ma2,' be paid and the interest rate to be applied is in the absolute and sole <br />discretion of the City Council, subject only to limitations imposed by law. <br /> <br /> 7. The covenants, waivers and agreements contained in this Agreement shall bind the <br />successors, and as~;igns of the Owner and shall run with the land legally described in Attachment <br />One and bind all s~ccessors in interest thereof. It is the intent and agreement of the parties hereto <br />that this Agreement be in a form which is recordable in the office of the County Recorder of Anoka <br />County, Minnesota and agree to make any changes in this Agreement to effect the recording and <br />filing of this Agreement against the rifle of the Subject Property. <br /> <br /> 8. This Agreement shall terminate upon the final payment of all special assessments <br />against the Subject Property levied pursuant to this Agreement for the Improvement Project, and <br />the City shall execute and deliver such documents, in recordable form, as are necessary to <br />extinguish its rights hereunder. <br /> <br /> <br />