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Minnesota Public Facilities Authority Example Real Property Declaration <br /> <br />FOR USE BY FILING OFFICER ONLY <br /> <br />REAL PROPERTY DECLARATION <br /> <br />The undersigned has the following interest in the real property located in the County of ________, State of <br />Minnesota, that is legally described in Exhibit A attached and all facilities situated thereon (collectively, the <br />“Restricted Property”): <br /> <br /> (Check the appropriate box.) <br /> <br /> a fee simple title <br /> <br /> a lease <br /> <br /> an easement, <br /> <br />and as owner of such fee title, lease or easement, does hereby declare that such interest in the Restricted Property is <br />made subject to the following restrictions and encumbrances: <br /> <br />A. The Restricted Property is bond financed property within the meaning of Minn. Stat. Sec. 16A.695, is <br />subject to the encumbrance created and requirements imposed by such statute, and cannot be sold, <br />mortgaged, encumbered or otherwise disposed of without the approval of the Commissioner of Minnesota <br />Management and Budget, which approval must be evidenced by a written statement signed by the said <br />commissioner and attached to the deed, mortgage, encumbrance or instrument used to sell or otherwise <br />dispose of the Restricted Property; and <br /> <br />B. The Restricted Property is subject to all of the terms, conditions, provisions, and limitations <br />contained in that certain Agreement between the Minnesota Public Facilities Authority and (Borrower Name) <br />_____________ for Project No. ___________, and dated (Approval Date) _________. <br /> <br />The Restricted Property shall remain subject to this State of Minnesota General Obligation Bond Financed <br />Declaration for 125% of the useful life of the Restricted Property or until the Restricted Property is sold with the <br />written approval of the Commissioner of Minnesota Management and Budget, at which time it shall be released <br />therefrom by way of a written release in recordable from signed by both the Chair of the Minnesota Public Facilities <br />Authority and the Commissioner of Minnesota Management and Budget, and such written release is recorded in the <br />real estate records relating to the Restricted Property. This Declaration may not be terminated, amended, or in any <br />way modified without the specific written consent of the Commissioner of Minnesota Management and Budget. <br />Minnesota Public Facilities Authority 2020 Special Appropriation Forms <br />18 of 28 October 2020