Laserfiche WebLink
I. Pe�aquin ��jects to being assessed fo� �vo (�j Lot �Jnits and stat�s that Pelvqu� <br />has �afl intent to furth��r subdivit�e the Peloquin Property now ar in the near <br />�iture, <br />3.� N{�W �'I-�EREFt�RE, � co�.sitiera�ifl� of t�.ie mutual undertakings herein expressed, <br />t�ie �a�ties agr�e; <br />A, 'Tlie �ity agr�es �iat it wi�� s�ecial�� ass�ss t�e Peloquin Propert� �or a�e ��� <br />i,ot i�nit a� #he present time; wi�l forego �he ado}�tion of a deferred special <br />assessmen� roll for a the second Lot t7nit; and will foreg� t�ie adoption of the <br />su�plemental assessm�n� rv�� i� the fut�e �f t�e su�div�sion of the Pe�oquin <br />Property occurs . � <br />B. Peloqui� agrees that: <br />1. It w�ll pay t�i� specia� ass�ssment �f one � 1} Lot ��it p�rsuan� to t�e <br />ter�ns c�f the Special As��ss�ne�t Resolution to be adopt�d b� the �ity for <br />the �� 1 � PI�/IP, <br />2. I� �ill pay the equivalent of the spe�ial as�ess�nent for a sec�n� i.o� Unit <br />vvhen a subdivis�o� of t.�e Pe�aquin Prflperty occurs in t�� fut�re. <br />3. Pe�oquin agrees tliat if t�e Pei��ui� ��perty is s�i�divided into tv�c� (2) <br />par�ce�s, t�e nevv�y create� second �ar�e� will ha�� �ec�i�ed a special <br />�en�fit equal t� tlie Lat ��i.� assessment l�vied b� tbe Ci� f�r �ie 2� 10 <br />PMP. <br />�. �i� ���ell� i�l�� � �Yti� �ilt� D�V�.� �Iit�� �() t%� �i��'s s�a}� �f appr�va� <br />on the deed or the �lat whic� ef�ectuates t�ie futur� subdivision. <br />4.�0 Termina#io� of Ag�eement. If th� Pel�q�i� Pr�pert� is n�� subd�vided into t�� (2� <br />�ots v�ithin �rty {30j �ears af the dat� on w%ic� the Cit� adflpts the assess�aent <br />res�lutio� �or �he �0 �� PMP, this Agr�em.en� s�all become nu11 a�d void a�d shall not <br />be b�uading on Pela�uin or t�eir successors an�i as�igns. - If the �it�'s De�eloprne�t <br />Regulations are ame�d�d i� a�n�nn.er that either prc��ibits �itur�e subdivision of the <br />Pel�qui.� Pr��rty or, i� th� alte�-nativ�, a�lovvs the Pelflqui�n. I'roper� to � subdivided <br />into mflre than tvvo {2) �ots, t�e terms of this Agreement wi11 be renegotiated b� t�e <br />parti�s. <br />5,� S�cce�sors a�nd Assi�ns .���e�t as her�in abo�e prvvi�ed, this Agree��n� sball be <br />bind�g upon the �arti�s, the�r �eirs, succ�ssors �.d assigns. <br />2 <br />