Agenda - Council - 11/28/2017 - Laserfiche WebLink

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City, whether pursuant to a PUD Agreement or any ordinance or resolution of the City, for Outlot A and the remainder of Alpha Development for park dedication, public benefit and open space. 4. Upon execution of the Agreement, Hageman shall execute in recordable form and deliver in escrow to Land Title, Inc. (the "Title Company") a quitclaim deed (the 'Deed"), conveying to the City Hageman's right, title and interest in and to the Alpha Development Open Space, but reserving, for the benefit of Lot 1, Block 1 and Outlot D, ALPHA DEVELOPMENT, the right and asement lo drain surface waters from said Lot 1, Block 1 and Outlot D, onto, over and across the Alpha Development Open Space. 5. The Title Company shall record or otherwise release or deliver the Deed only if and when the following contingencies have been satisfied, not later than March 30, 2018: the City has granted final plat approval of the New Plat and has released the New Plat for recording, and Buyer has acquired fee title to Outlot A from Hageman. The Agreement shall require that the Title Company shall return the Deed to Hageman if any of those contingencies is not satisfied by March 30, 2018. 6. The City recognizes that the Alpha Development Open Space does not now constitute one or more separate parcels Of real estate for purposes of real estate taxes and conveyancing. The City shall be solely responsible for taking all actions necessary in order to avoid the violation of any subdivision ordinance of the City or any statutory requirement as a result of the conveyance of the Alpha Development Open Space by Hageman to the City, and neither Buyer nor Hageman shall have any obligation to incur any cost in connection therewith. The parties agree in principle to this non -binding MOU. THE CITY: City of Ramsey, Minnesota, a Minnesota municipal corporation By: Dated , 2017 Sarah Strommen, Mayor By: Kurt Ulrich, City Administrator 2 3892318v3 I Commented [JJL2]: Can we get a warranty deed? I Commented [3)L3]: Is this to be a public D&U? Commented [))L4]: What process is intended to make this a separate parcel?