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<br />SETTLEMENT AGREEMENT <br /> <br />. I.D Parties. This Agreement is dated the day of <br />, 199_, and is entered into by and between <br />Richard L. Shepley and Janet E. Shepley, husband and wife (herein <br />"Grantor" ); and the City of Arden Hills, a Minnesota municipal <br />corporation (herein "City"). <br /> <br />2.0 Recitals. <br /> <br />A. Grantor represents that it is the record fee owner of the <br />following described property situated in Ramsey County, <br />Minnesota: <br /> <br />The North 150.00 feet of Lot 5, Block 5, Shady Oaks <br />Addition, according to said plat on file and of <br />record in the office of the County Recorder, Ramsey <br />County, Minnesota, except the West 245.00 feet <br />thereof. ("Property") <br /> <br />B. The property abuts Oak Avenue. <br /> <br />C. The City has reconstructed and realigned Oak Avenue as <br />part of a public improvement project ("Project"). <br /> <br />D. The survey work which was done for the Project indicated <br />that a part ion of Oak Avenue as originally constructed <br />. encroaches on the Property; that a portion of Oak Avenue <br />as originally dedicated has been incorporated in the use <br />of the Property by Grantor; and that a portion of the <br />Property is being used for a fire hydrant and water main. <br /> <br />E. The parties wish to convey easements and vacate portions <br />of existing rights-of-way so as to conform the actual use <br />of the Property with the recorded and/or dedicated use of <br />the Property and to otherwise resolve all disputes <br />between the parties regarding the construction of the <br />Project and the acquisition of various easements. <br /> <br />3.0 Terms and Conditions. Now therefore, in consideration <br />of the mutual undertakings herein expressed, the Grantor and the <br />City agree as follows: <br /> <br />A. Verification of Title. Upon execution of this Agreement <br />by all parties, Grantor shall provide the City with an <br />Abstract of Title, Certificate of Title, or a title <br />insurance policy indicating that Grantor is the fee owner <br />of the Property. <br /> <br />B. Convevance of Easement. Upon verification of the <br />awnership of the Property, the City shall forward the <br />original of the permanent easement which is attached as <br />Exhibit I to Grantor for execution. Grantor shall <br />. properly execute and return the permanent easement to the <br />