Agenda - Council - 01/13/2015 - Laserfiche WebLink

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f. Governmental Permits and Approvals . Contingencies shall include the following government approvals, on or before closing: 1) Buyer shall obtain Major Subdivision Final Plat Approval, and 2) Buyer shall obtain Site Plan Approval for 120 apartment units. For purposes of this Agreement, Governmental Approvals do not include Building Permit Review. Buyer shall be responsible for obtaining all required Building Permits. g. Flood Plain Designation. On or before closing date, Buyer shall determine that the Property is not located within a federally designated flood plain. h. Access. On or before closing date, Buyer shall have determined that the Real plat, shall have adequate unrestricted access to a dedicated public street sufficient i. Corporate Approvals. On or before closing date, Buyer shall have received all bligations under this Agreement and the transactions contemplated hereby. j.Legally Conveyable Parcels. On or before closing date, Buyer shall verify with th the Title Company as defined in Article 2(b), that Outlot A, 11 Addition Ramsey th Town Center and Outlot B, 11 Addition of Ramsey Town Center are legally conveyable lots and acceptable to Buyer. The Buyer will assume the responsibility of re-platting said lots in order to create buildable commercial lots that suit the needs. k.Special Service District. The Seller, as the owner of the Property and as the owner of other property in Ramsey Town Center Addition, will not file or join in a petition under Minn. Stat. Section 428A.08 for the creation of a special service district that would encompass the Property and, if other property owners file a petition for the creation of a special service district that would encompass the Property, the Seller will join with the Buyer in filing an objection to the adoption of the special service district ordinance in accordance with Minn. Stat. 428A.09. This Agreement will be documented in the form of a covenant that runs with title (10) years following the date of this Agreement. If the Seller has created a special service district which includes the Property, the Seller will take necessary steps to remove the Property from the special service district prior to closing. l.Right Of Way (ROW) & Public Street. The Buyer shall pay for the surveying, grading, and construction of a public street to be constructed in the 60 thth between Outlot A, 11 Addition and Outlot B, 11 Addition at the location shown in the attached Exhibit A. In addition, the Buyer shall pay for the construction and installation of water mains, sanitary sewer mains, and storm sewer mains in the easement area adjacent to the street and serving the Property in the locations shown on the attached Exhibit A through Exhibit D. Said public street that is to be constructed will 3