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2023-07-12 CC Packet
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2023-07-12 CC Packet
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City will receive a Lien Waiver and a Form IC324 from John's ProCare upon completion of the <br />project and request for payment. Said payment will not exceed the amount assessed through this <br />agreement. <br />E. The costs to be incurred for the Improvement is the amount of the special <br />assessment listed below: <br />NOW, THEREFORE, IN CONSIDERATION OF THEIR MUTUAL <br />COVENANTS, THE PARTIES HERETO AGREE AS FOLLOWS: <br />1. The City will assess the Subject Property $8,831.25. The special assessment <br />principal shall be payable in equal installments over five (5) years, plus 4.5% <br />interest on the unpaid balance. Interest shall begin accruing on November 1, <br />2023. The special assessment principal and interest will be certified to the county <br />and become due and payable on the same schedule as the property taxes for the <br />Subject Property beginning in 2024. <br />2. The Property Owner waives any and all procedural and substantive objections to <br />the Public Improvement and special assessments, including, but not limited to, <br />hearing requirements and any claims that the assessment exceeds the benefit to <br />the Subject Property. The Property Owner waives any right to appeal pursuant to <br />Minn. Stat. §429.081. <br />3. Property Owner may prepay the entire special assessment without interest if paid <br />in full by November 1, 2023. <br />4. This Agreement shall be binding upon the Property Owner and the Property <br />Owner's successors and assigns. This Agreement may be recorded against the <br />title to the Subject Property and it shall run with the property. <br />5. No remedy herein conferred upon or reserved to the City is intended to be <br />exclusive of any other available remedy or remedies, but each and every such <br />remedy shall be cumulative and shall be in addition to every other remedy given <br />under this Agreement or now or hereafter existing at law or in equity or by statute. <br />6. No delay or omission to exercise any right or power accruing upon any default <br />-2- <br />
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