Laserfiche WebLink
Councilmember <br />adoption: <br />introduced the following resolution and moved for its <br />RESOLUTION #20-012 <br />RESOLUTION APPROVING RELEASE OF MULTIPLE AGREEMENTS AND <br />MORTGAGE FOR STONE BROOK ACADEMY <br />WHEREAS, the City of Ramsey, herein referred to as the "City," has approved a <br />development project known as Stone Brook Children's Academy at 7800 Sunwood Dr NW (the <br />"Subject Property"); and <br />WHEREAS, the current owner, MK Johnson Properties, LLC (the "Seller") has a <br />Development Agreement and Right of Re -Entry Agreement from 2017 filed in Anoka County <br />Registrar of Titles, relating to improvements on the Subject Property; and <br />WHEREAS, the current owner, MK Johnson Properties, LLC (the "Seller") has <br />Resolution #17-08-200 filed against Lot 1, Block 1, COR Stone Brook Academy, including terms <br />and conditions on the Subject Property; and <br />WHEREAS, the current owner, MK Johnson Properties, LLC (the "Seller") has granted a <br />Mortgage in favor of the City of Ramsey in the amount of $100,000.00; and <br />WHEREAS, the current owner, MK Johnson Properties, LLC (the "Seller") has requested <br />releases from the above -mentioned documents based on the proposed sale of the Subject Property. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br />That the City, subject to City Attorney review, approves: <br />a. Release from the agreement titled Development Agreement dated November 2, <br />2017, and recorded on November 7, 2017, as Anoka County Document Number <br />#552705.006 <br />b. Release from the Conditions noted on Resolution 17-08-200, approved on August <br />8, 2017, and recorded on November 7, 2017 as Anoka County Document Number <br />#552705.004 <br />c. Release from the Right of Re -Entry dated August 22, 2017, and recorded on <br />November 7, 2017 as Anoka County Document Number #552705.010 <br />d. Execution of Satisfaction of Mortgage for document dated November 6, 2018, and <br />recorded on November 8, 2018 as Anoka County Document Number 560952.001 <br />in the Office of the Anoka County, Minnesota Registrar of Titles. <br />That the motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />, and upon vote being taken thereon, the following voted in favor: <br />