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H. '�'he �it� is �roposing to speciall� ass�ss Parcel A for one lot unit and Pa�cel B <br />�or one lat u�i�, p�rsuan� to its assessment palicy. <br />�. Christens�n has object�d to �eing assessed for two lot u�its and stat�s t�iat <br />Christensen has n� current �tent �o de�elop Parc�l A now, or in the near futur�, <br />3.0 NUi� THEREFQRE, i�► considerati�n �� th� mut�� undertal�ngs herein exp�essed, <br />the p�rties �g�-ee : <br />A. �'h� City agrees t�t it vvi�l special�y assess �'arcel B for one (1 ��ot L�nit at the <br />p�esent time; wi� f�rego i1�e adoption of a def�rre�i spec�a� assessment ro11 fc�r <br />�'arcel A; and v�i�l for�go �1ie ado}�ti�� of a supple�ae�.ta� asses���nt rol� in #�e <br />. futu�e if a��i�di.ng }�ermit is req�ested for Parcel A. <br />B . Christensen �gre�s th�t: <br />1, It �vi�l pay the s�ec�al assessment levied aga�nst Par��l B pursuant to t�e <br />terms af the Special Assessment Reso�utia� ad�pted �y t�e ��ty for the <br />2�10 P�P. <br />2. Cbristensen agrees tliat a special ben.efit has accrued tt� Parcel A in the <br />amount of �ie proposed special assess�nent for Par�el A as a resu�� of the <br />constr�ction �� the City �f Arden Hills 2� 10 P11�IP. <br />4.� Payment of Special Assessmen�, �'aymer�t of an amount equa� to t�ie pr��sed s�ecial <br />assessment fnr Parcel A, p�us ac�rue�i interest t�ereon at the rate of 4. �% per annum <br />. �ha11 be payabie in fifteen {1 �} �ears fram the dat� on which the City CQunci� adopts <br />,^. .� �e �ssess�.ent re�ol��i�� f�r �l�P' 2�1� or prior t� �� issu�n�e e�� �� �u� din.g pe��s <br />far Parcel A, vv�iic�ever event �curs �rst. . <br />5.� Suc�essors and Assi�s. '�i� Agr�e�nent s�all be bindi�g upo� the parties, tlieir <br />heirs, su�cesso�s an.d assigns. <br />