Agenda - Council - 05/25/1993 - Laserfiche WebLink

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2. Owner represents and wan'ants 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 as of the date hereof, it has fee simple absolute rifle in the Subject Property, which is not subject to any liens, interests, or encumbrances, except as listed on Attachment Two, attached hereto and hereby made a part hereof. 3. Owner requests that 100% of the cost of the Improvement Project be assessed against the Subject Property. Owner understands and agrees t,hat the cost of the Improvement Project will be determined in accordance with the Ramsey Cit3 Charter and Ramsey City Code Sections 4.60 to 4.60.23 and standard city practices and that such cost is estimated to be One Hundred Forty Six Thousand Dollars and no cents ($146,000.00). Special assessments shall be distributed in accordance with the Feasibility Report for Project ~93-10 prepared by Steven J. Jankowski, P.E., City Engineer, dated April, 1993, incorporated herein by reference and attached hereto as Attachment I. 4. Owner waives notice of hearing and hearing on the special assessments levied to finance the Improvement Project pursuant to City Code Section 4.60.10 and specifically requests that the Improvement Project be consnmcted and special assessments levied therefor without hearings. 5. Owner waives the right to appeal the levy of special assessments in accordance with this Agreement pursuant to City Code Section 4.60.12, or reapportionment thereof upon land division pursuant to City Code Section 4.60.! 1, or otherwise, and further specifically agrees with respect to such special assessments of reapportionment that: Any requirements of City Code Sections 4.60 to 4.60.23 with which the City does not comply are hereby waived by Owner. The increase in fair market value to the Subject Property resulting from construction of the Improvement Project will be in an amount of at least the amount of the total potential project cost specified in paragraph 3, above, and that such increase in fair market value is a special benefit to the Subject Property. Co Assessment of 100% of the cost of the Improvement Project against the Subject Property is reasonable, fair and equitable and there are not other properties against which such cost should be assessed. do Owner further specifically waives notice and right to appeal reapportionment of such special assessments upon land division pursuant to City Code Section 4.60.11. Owner understands and agrees that the City may provide for the payment of such special assessments in installments bearing such interest as may be determined by the City Council. However, the decision whether to allow payment in installments, the period of rime over which the special assessments may be paid and the interest rate to be applied is in the absolute and sole discretion of the City Council, subject only to limitations imposed by law. The covenants, waivers and agreements contained in this Agreement shall bind the successors, and assigns of the Owner and shall nm with the land legally described in Attachment One and bind all successors in interest thereof. It is the intent and agreement of the parties hereto that this Agreement be in a form which is recordable in the office of the County Recorder of Anoka County, Minnesota and agree to make any changes in this Agreement to effect the recording and ~ing of this Agreement against the rifle of the Subject Property. III