CCP 09-22-1997 - Laserfiche WebLink

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- . (vii) the Redeveloper shall have secured from the owner of the AmberJack Property an executed Assessmenl Agreement as described in Section 6.5, unless the Authority in its sole discretion, determines to proceed prior to securing such Assessment Agreement. Section 3.3. Iiili:. The Authority's obligations under this Agreement are conditioned on the Redeveloper having acquired .lee title to the Redevelopment Property. Therefore, prior to the issuance of any Bonds or the Authority's or City's commencement of the Public Improvements, the Redeveloper shall provide to the Authority evidence in such form as the Authotity shall reasonably require demonstrating that the Redeveloper has acquired fee title to the Redevelopment Property and that such title is subject to no defects or encumbrances other than those to which the Authority approves in writing, which approval shall not be unreasonably withheld or delayed, or the Authority, in its sole disCl'etion, shall haVe approved the state of title to the Redevelopment Property. Section 3.4, Public ImnroVP.lT1ents. (a) In order to induce the Redeveloper to undertake the development of the Minimum Improvements and to assist the Redeveloper in such undertaking, the Authority will pay the cost of certain public improvements necessary to permit . the development of the Minimum Improvements. The Public Improvements are more specifically described on Schedule B to this Agreement and consist generally of the installation of roads, utilities, landscaping, storm water and water line relocation. (b) The 14th Street Improvements consist of the construction of a new road (l4th Street) and the reconstruction of the public utilities serving all Phases of Ihe Minimum Improvements. Subject to Unavoidable Delays and assuming that aU conditions to the issuance of the Bonds and the commencement of the Public Improvements have been satisfied by ." October14, 1997, the 14th Street Improvements will be commenced by November 1, 1997, and will be compleled by September 30, 1998. Tne 141h Street Improvements will be constructed pursuant to plans and specifications prepared by the Authority or the City in accordance with City construction requirements, The 14th Street Improvements will be undertaken as a public improvement project pursuant to Minnesota Statutes, Chapter 429, as is described in Section 3.6 of this Agreement. The 14th Street Improvements will be financed with the proceeds of the Bonds. (c) The West Round Lake Road Improvements consist of the reconstruction of West Round Lake Road. The West Round Lake Road Improvements will be constructed and paid for as described in Section 3.6 of this Agreement. (d) The Highway 96 Improvements consist of improvements related to the realignment of County Road 96, including the acquisition of property, signal improvements, and road improvements. Subject to Unavoidable Delays and assuming that all conditions to the e issuance ofthc Bonds and the commencement of the Public Improvements have been satisfied by QClober14, 1997,the Highway 96 Improvements will be commenced by May 1, 1998, and will be completed by December 31, 1998. The Highway 96 Improvements will be financed with the 10 Sl'd 6t'01. 1.1:6 1:19 'I:!'d '3)lI3G '8 A31a1:!l:lll t1:S1 1.661-61-d3S