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Willow Glen DRAFT <br /> Development Agreement Revised December 5, 1996 Developer waives aM appeal rights otherwise available pursbant to <br /> umi) the emire balftnee pitts aeefued interest is paid in f-dil t1riless paid earlier. in the <br /> Gounty Auditer for eolleetion with the real Estate Taxes. ift hhe event &-ty paymen <br /> is not made on the dates set eet herein, the City may exereise its rights gfat*e—d <br /> hereunder for stielt deftmit. The Developer waives any and all preeedtiral and <br /> assessfftenAs, ftteluding but mf limited to hearing reqttirements and any elaifn that the <br /> assessttient e3teeeds the benefit to ft property, In the event the total of all Gity <br /> Installed hinprovements is less than originally estimated by the (3ity Engineer in h <br /> 4 29 . 08 4- ' <br /> 3AOA - <br /> 4. Required Payments of Costs Sp°e'�tnettls by Developer Developer, its heirs, <br /> successors, or assigns hereby agrees that prior to or on issuance of certificate of <br /> occupancy, to pay the entire unpaid improvement costs of the Willow Glen project <br /> asses or to be assessed under this Agreement. against sueft property. <br /> if a eertifieate af oeettp&iey is issued before the speeial assessmeitts have been levied, <br /> the Developer, its heirs, sueeessors, or assigns shall pay the City the sum of eash equal <br /> be levied agaimt the property. Upon stteh paytneM the City sliall isstie a eertifteate <br /> showing the assessments are paid in full. Notwithstanding the s�uanee of said— <br /> eertifieate, the Developer shall be liable to the City for any defieieney and the City <br /> shall pay the Developer afty surphts arising from ffie pa""eftf based upon <br /> estima <br /> 5. Acceleration Upon Default In the event the Developer violates any of the covenants, <br /> conditions, or agreements herein contained to be performed by the Developer, violates <br /> any ordinance, rule, or regulation of the City, County of Anoka, State of Minnesota, <br /> or other governmental entity having jurisdiction over the plat, or fails to pay any <br /> installment of any special assessment levied pursuant hereto, or any interest thereon, <br /> when the same is to be paid pursuant hereto, the City, at its option, in addition to its <br /> rights and remedies hereunder, after ten (10) days' written notice to the Developer, <br /> may declare all of the unpaid special assessments which are then estimated or levied <br /> pursuant to this Agreement due and payable in full, with interest. The City may seek <br /> recovery of such special assessments due and payable from the security provided in <br /> Paragraph (B) hereof. In the event that such security is insufficient to pay the <br /> outstanding amount of such special assessments plus accrued interest, the City may <br /> certify such outstanding special assessment in full to the County Auditor pursuant to <br /> MS 429.061, Subdivision 3, for collection the following year. The City, at its option, <br /> may commence legal action against the Developer to collect the entire unpaid balance <br /> of the special assessments then estimated or levied pursuant hereto, with interest, <br /> including reasonable attorney's fees and Developer shall be liable for such special <br /> assessments and, if more than one, such liability shall be joint and several. Also, if <br /> the Developer violates any term or condition of this agreement, or if any payment is <br /> not made by Developer pursuant to this agreement, the City, at its option, may refuse <br /> 260/084- 2404.oct Page 7 <br />