Agenda - Council - 08/08/2006 - Laserfiche WebLink

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of said Northwest Quarter of the Northeast Quarter; thence Northerly along said East line of said Northwest Quarter of the Northeast Quarter a distance of 164.05 feet; thence Westerly a distance of 1,327.03 Feet to the point of beginning. WHEREAS, the City has filed in District Court a Petition seeking to permanently acquire a portion of the Oiens' property for public street and utility purposes, namely to expand and modernize Potassium Street NW within the City (Project). WHEREAS, the Parties have reached agreement, and wish to settle the matter without further proceedings in court. NOW, THEREFORE, in consideration of the foregoing recitals and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 1. The Oiens hereby waive all claims and defenses to the condemnation Petition filed by the City, and will cooperate in all measures necessary to accomplish the transfer of the property. 2. The City hereby agrees to pay the Oiens the sum of Five Thousand Dollars ($5000.00) within fifteen (15) business days of the execution of this Settlement Agreement. 3. That the Oiens agree to grant an easement for drainage, street and utility purposes over, under and across the most westerly 38 feet of the of the above described property, as sought in the City's Petition. 4. That the City will not levy any special assessment upon the Oiens' property in connection with the Project. 5. That the Oiens will not be required to connect to any utilities installed during the Project including, but not limited to water, and sewage. 6. That the City will not construct a sidewalk, path, footway, pathway, or trail upon said easement as part of the Project. 7. This Settlement Agreement is made only for the benefit of the parties executing this agreement and shall be binding and inure to the benefit of the parties jointly and severally, including their successors, assigns, transferees, principals, officers, directors, agents, servants, insurers, subrogees, and legal representatives. No other parties are intended to, nor shall they have any interest in, or rights arising from this Settlement Agreement. 8. This Settlement Agreement contains the entire integrated agreement between the parties with regard to the matters set forth in the Settlement Agreement.