Agenda - Council - 09/13/2004 - Laserfiche WebLink

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23. any lot or outlot pursuant to Exhibit F exceeds the benefit to such lot or outlot. Developer also waives any appeal rights otherwise available pursuant to Mim~esota Statutes, Section 429.081 and any rights available under the City Charter or the City Ordinances. As set forth in Section 16.4, the consents and waivers set forth in this Section 7.19 run with title to the Subject Property and are binding on the Developer and its successors and assigns. Until the City levies the special assessment', the special assessment constitutes a pending special assessment. Once the City levies the special assessment and subject to Section 7.20, Developer must pay the instalh'nents of special assessment certified for'payment with ammal real estate taxes when and as they become due. The pending special assessment described in this Section 7.18 is. allocated among the lots and outlots the Master Final Plat creates in the manner set forth on the attached Exhibit F. If a subsequent Final Plat for a Phase subdivides one or more of the lots or outlots referenced on Exhibit F, the City must allocate the special assessment pending or levied against that lot or outlot among the lots or outlots created by such Final Plat. The Developer or a Secondary Developer, if applicable, must prepare and submit to the City, ~br its review, a proposed allocation of the pending or levied special assessments m'nong the lots or outlots created by such Final Plat. The City must adopt the Developer's or, if applicable, a Secondary Developer's proposed allocation if the Developer's or, if applicable, a Secondary Developer's proposed allocation is done on a per square foot basis. The City may accept or reject other proposed allocations in its sole and absolute discretion. The City and the Developer agree that notwithstanding the actual cost of the AUAR Roadway Improvements, the City will not assess more than $3,000,000 against the Subject Property for the AUAR Roadway Improvements. Section 7.20 is hereby added to the Master Development Agreement to read as follows: 7.20 PREPAYMENT OF AUAR ROADWAY' IMPROVEMENTS SPECIAL ASSESSMENTS UPON SALE OR TRANSFER. Under Minnesota Statutes, Chapter 429, the City may'cause the amounts askessed against the Subject Property to be payable in a single installment or in pqual annual installments extending over a period not to 'exceed 30 years. The City will make the special assessment described in Section 7.19 payable in annual installments extending over 15 years in consideration for the Developer's agreement, subject .to Section 16.6, to pay the entire, uncertified balance of the assessment levied pursuant to Section 7.17 against any lot or outlot (whether such lot or outlot is created in the Master Final Plat or is created as a result of a subsequent subdivision of all or a portion of a lot or outlot created in the Master Final Plat or a Final Plat for a Phase) upon the sale or other transfer (including, but not limited to, the conveyance of equitable ownership pursuant to a contract for.deed) of that lot or outlot. If the Developer conveys or otherwise transfers ownership of a lot or outlot subject to the assessment described in Section 7.19 before I r~84445v2 -329-