Agenda - Council - 04/11/2023 - Laserfiche WebLink

Home

DECLARATION OF RESTRICTIVE COVENANTS This Declaration of Restrictive Covenants ("Declaration") is executed as of this day of , 20 (the "Effective Date"), by the County of Anoka ("Owner"). RECITALS A. The County of Anoka (`Owner") and the State of Minnesota, through its Commissioner of Transportation, (""State") entered into an agreement wherein the Owner agreed to purchase certain lands needed for construction of the U.S. Highway 10/169 Ramsey Gateway Project ("Highway Project") and the cost of said lands would be reimbursed by the State to Owner as outlined in MnDOT Joint Powers Agreement, Contract No. 1049476 ("Contract"). B. The County of Anoka is the owner of those certain parcels of land acquired pursuant to the Contract and located in the County of Anoka, State of Minnesota (the "State"), which are more fully described as the Parcel(s) set forth in Exhibit A attached hereto (the "'Property"). C. The parties acknowledge that upon completion of the Highway Project, some of the lands may be conveyed to the State for highway purposes, and some may be conveyed to the City of Ramsey for green space or future development purposes, if not needed for the Highway Project. D. As for the lands the State no longer wishes to own under the Contract, and to ensure reimbursement by the State for the purchase of those lands, the Owner and the City of Ramsey, as a consenting potential successor Owner, have agreed to establish certain restrictions with respect to the future sale and use of the Property that are intended to run with and encumber the land as more fully set forth herein. E. The parties are aware that after the Highway Project, some of the surplus land not needed for the Project may be conveyed by Owner to the City of Ramsey, to be made available for future use or development by the City. Such transfers between Owner and City are specifically permitted by the State and not considered a breach of this Declaration. NOW THEREFORE, in consideration of the foregoing promises, reimbursements, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Owner declares as follows: 1. Use Restrictive Covenant. (a) From and after the Effective Date, other than transfers by Owner to the City of Ramsey which are permitted, (1) the Owner and any successors or assigns shall not convey, sell, lease, mortgage, assign, enter into any agreement whatsoever for profit in any way from the use of the Property unless such transaction includes reimbursement to the State for the then present fair market value of the land, as determined by appraisal or such other X