Agenda - Council - 02/24/2026 - Laserfiche WebLink

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the assessment amount against the Subject Property for the Improvement Project with no penalty pursuant to Minn. Stat. §429.061. 7. The Owner represents and warrants that the Subject Property is not so classified for tax purposes as to result in deferral of the obligation to pay special assessments; and Owner agrees that it will take no action to secure such tax status for the Subject Property during the term of this Agreement. 8. The covenants, waivers and agreements contained in this Agreement shall bind the successors and assigns of the Owner and shall run with the Subject Property and bind all successors in interest thereof. It is the intent of the parties hereto that this Agreement be in a form that is recordable among the land records of Anoka County, Minnesota; and they agree to make any changes in this Agreement which may be necessary to affect the recording and filing of this Agreement against the title of the Subject Property. The City will record this Agreement against the Subject Property. 9. This Agreement shall terminate upon the final payment of all special assessments levied against the Subject Property regarding the Improvement Project, and the City shall thereupon execute and deliver such documents, in recordable form, as are necessary to extinguish its rights hereunder. 10. If the Owner materially defaults in the due and timely performance of any of its covenants or agreements hereunder, the City may give notice of default of this Agreement. The notice shall specify with particularity the default or defaults on which the notice is based. The notice shall specify a ten (10) day cure period within which the specified default or defaults must be cured. If the specified defaults are not cured within the cure period, the City may pursue all remedies and sanctions available at law and in equity, including specific performance. 11. This Agreement, which includes the recitals and exhibits which are fully incorporated herein, shall constitute the entire agreement between the parties and shall supersede all prior oral or written negotiations. This Agreement may be amended or any of its terms modified or changed only by a written amendment authorized and executed by the City and the Owner. In any event any provision of this Agreement shall be held invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision hereof. (Left blank intentionally; signature pages and appendix to follow)