Agenda - Council - 01/27/2026 - Laserfiche WebLink

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Land Records Mgmt AMENDMENT NO. 1 TO LOAN AGREEMENT System No. MC-907 BETWEEN THE METROPOLITAN COUNCIL AND THE CITY OF RAMSEY FOR HIGHWAY RIGHT-OF-WAY ACQUISITION LOAN AGREEMENT NO. L-05-05 WHEREAS, the Metropolitan Council ("the Council") and the City of Ramsey ("the Recipient") have entered into a loan agreement for protective acquisition of highway right-of-way, which loan agreement is dated September 29, 2005 and is identified as Loan Agreement No. L-05-05 ("Loan Agreement"); and WHEREAS, the Loan Agreement provides that the Council will advance to the Recipient the Recipient's actual acquisition costs for the real property described in Exhibit A to the Loan Agreement in an amount not to exceed $11,000; and WHEREAS, Council and Recipient agree that it is in their best interests to amend the Loan Agreement to Reflect Recipient's actual acquisition cost; NOW, THEREFORE, for one dollar and other good and valuable consideration, the sufficiency and receipt of which is hereby acknowledged by Council and Recipient, the Loan Agreement between the Metropolitan council and the City of Ramsey for Hardship Acquisition of Highway Right of Way, Loan Agreement No. L-05-05 is hereby amended as follows: 1. Section I, Paragraph 1.01 is hereby amended by deleting $1,811,000 and substituting therefore $1,828,129. 2. Section I, Paragraph 1.02 is hereby amended by deleting $11,000 from the third sentence of said Paragraph 1.02 and substituting therefore the sum of $28,129, and amending the fourth sentence of said Paragraph 1.02 to include taxes. 3. In all other respects the Loan Agreement remains unchanged. APPROVED AS TO FORM: Chi - al Counsel Services APPROVED AS TO FORM: ity Attorney Ramsey (Nau Companies 6701 Hwy. 10) METROPOLITAN COUNCIL G Arlene McC hy, Dir cto Metropolitan Transportation CITY OF RAMSEY Tom Gamec, Ma r c By --� Kurt Ulrich, City Administrator