Agenda - Council - 09/26/2023 - Laserfiche WebLink

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Recording Requested By And When Recorded Mail To: Kayne Law Group, Co., P.A. 612 Park St. Suite 100 Columbus, Ohio 43215 Attn: Jacob Worrel, Esq. SPACE ABOVE FOR RECORDER'S USE ONLY EASEMENTS, COVENANTS, AND RESTRICTIONS AGREEMENT THIS EASEMENTS, COVENANTS, AND RESTRICTIONS AGREEMENT (this "Agreement") is executed, delivered and made effective as of this day of , 2023 (the "Effective Date"), by and between City of Ramsey, a Minnesota municipal corporation ("City"), and Aldi Inc. (Minnesota), a Minnesota corporation ("Aldi"). Background Information A. Aldi and City entered into that certain Real Estate Purchase Agreement, dated March 3, 2023 (the "Purchase Agreement"). As a result, Aldi and City each own certain parcels of real property located at the southwest corner of Armstrong Blvd. SW and 147th Ave. N in Ramsey, Minnesota. A copy of a site plan that generally depicts the properties owned by each of the Parties is attached hereto and made a part hereof as Exhibit A (the "Site Plan"). B. Aldi's parcel, containing approximately 2.81 acres, is more particularly described on Exhibit B, attached hereto and made a part hereof (the "Aldi Property"). C. City's parcel, containing approximately 1.16 acres located adjacent to the Aldi Property, is more particularly described on Exhibit C, attached hereto and made a part hereof (the "City Property"; collectively, the Aldi Property and the City Property are sometimes referred to collectively as the "Overall Parcel" and individually sometimes as a "Property"). D. In order to provide for, among other things, the coordinated development and operation of the Overall Parcel, the Parties have agreed to grant to the other certain easements upon the terms and conditions specifically provided for herein. In addition, the Parties have agreed to subject the Overall Parcel to certain restrictions on use and development, as hereinafter set forth. ArRFFNAFNT