2001-09-26 CC - Laserfiche WebLink

Home Browse Search

Eagle Pass Development Agreement 5. Required Paymen!~ of Special Assessments by p~velope[. Developer, its heirs, successors, or assigns hereby agrees that prior to or on issuance of certificate of occupancy, to pay the emire unpaid improvement costs assessed or to be assessed under this Agreement against such property. If a certificate of occupancy is issued before the special assessments have been levied, r...'1e Developer, its heirs, successors, or assigns shall pay the City the sum of cash equal to the Engineer's e::;tL-nate of the special assessments for such improvements that would be levied against t..~e property- Upon such payment, the City shall issue a certificare shO\ving the assessments are paid in full. Notwithstanding the issuance of said certificate, the Developer shall be liable to the City for any deficiency and the City shall pay L,1e Developer any surplus arising from the payment based upon such estimate. I I t. I I 6. Acceleration TJp(l.!l Defauli. In tile event th.e Developer violates any of the covenants, conditions. or agre.;ments herein contained to be performed by the Developer, violates any ordL.'1al1ce, mle, or regulation of t'1e City, CounTY of Anoka, State of MilU1esota, or other goverrll'11ental entity h.aving jurisdiction oVer the plat, or fails to pay any installment of any special assessment levied pursuant hereto, or any interest thereon, when the same is to be paid pursuant hereto, the City, at its option, in addirion to its rights and remedies hereu.nder. after ten (10) days' written notice to me Developer, w.ay declare all of t1-:\e unpaid special assessrnenrs which are then estimated or levied pursuant to this ,A.greemem due and payable in full, with interest. The City may seek recovery of such special assessments due and payable from r.h.e security provided in Paragraph (B) hereot In the event that such securiry is insufficient to pay the outstanding amount of such special assessments plus accrued interest, the City may certify such outstandirlg special assessment in full to the County AuditOr pursuant to MS .:1.29.061, Subdivision 3, tor collection the following year. The City, at its option, may C0n1.il1enCe legJ.I action against u'1e Dt:veioper to collect the entire unpaid balance of the special assessments then estimated or levied pursuant hereto, with interest, including reasonable attorney's fees and De veloper shall be liable for such special assessments and, if more than one, such liability shall be joint and several. Also, if ihe Developer violates any term or condition of this agreement, or if any payment is not D,1ade by Deyeloper pursuant to this agreement, the City, at its option, may refuse to issue building permits to any of the property vv'ithin the plat on which the assessments have not been paid. C. RF.C()'RDlNG-A4......~D RElEASE. Tht' Developer agrees that t.!1.e terms of this Development Contract $.hall be it covenant on allY and all property included in the Subdivision. The Developer agrees rhat the Ciry shall have the right to record a copy of Ihis Development Comracr with the Anoka County Recor.j~r to give notice to future purchasers and owners. This shall be re:eorded against the Subdivtsion described on page 1 hereof.