Agenda - Council - 06/11/1992 - Laserfiche WebLink

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EXHIBIT C iS_U~NY PONDS SPECIAL ASSESSMENT AGREEMENT THIS AG ~D, EEMENTmade this day of , 1992, by and between the City Of Ramsey, a Minnesota municipal corporation (hereinafter referred to as the "City"), and NorthlSuburban Development, Inc., a Minnesota corporation; WHEREAS, North Suburban Development, Inc. (hereinafter referred to as "Owner") is the owner of certain r~al property in the City of Ramsey, legally described in Attachment I, attached hereto and hereby, hnade a part hereof (hereinafter referred to as the "Subject Property"); and WIll, AS, Owner desires to subdivide and develop the Subject Property; and WHEI~EAS, the development of the Subject Property will require the construction of certain publiclimp~ovements, generally including sanitary sewer, storm drainage facilities, water mains and appurtenances and streets with concrete curb and gutter (hereinafter referred to as the "hnproven~enl~ Project"); and WHEI~EAB, a public hearing on the Improvement Project was duly held on ie I992; and wHER~EAS, 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 1~0~% 6f 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 withoui 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 cO~t of ~he Improvement Project; and WHEI/tEA$, were it not for the assurances and covenants hereinafter provided, the City would not co'truSt the Improvement Project without such notices and hearings and is doing so solely at the b~hesti and for the benefit, of the Owner; NOW, iTHEREFORE, ON THE BASIS OF THE PREMISES AND THE MUTUAL COVENANTS AND AGREEMENTS HEREINAFTER PROVIDED, THE PARTIES HERETO AGREE AS FOLLOWS' 1. !iOwner hereby petitions the City for construction of the Improvement Project on the Subject Properly. ~ 2. rOwt~er represents and warrants that it is the Owner of 100% of the Subject Property; that ~it has full legal power and authority to encumber the Subject Property as herein provided; and ~that las of the date hereof, it has fee simple absolute title in the Subject Property, which ~s not stlbject to any hens, ~nterests, or encumbrances, except as hsted on Attachment Two, attached hereto~'andlhereby made a part hereof.