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<br />SPECIAL ASSESSMENT AGREEMENT <br />WAIVER OF HEARING AND APPEAL <br /> <br />AGREEMENT made this <br /> <br />day of <br /> <br />. 20---, by and between the <br /> <br />City of Centervi11e, a Minnesota municipal corporation ("City"), and Rehbein <br /> <br />Properties("Property Owner"). <br /> <br />RECITALS <br /> <br />A Property Owner is the fee owner of the following described real property, located <br /> <br />in the City ofCenterville, Anoka County, Minnesota ("Subject Property"): <br />See attached Exln"bit A <br /> <br />B. Property Owner requests that the City ofCenterville undertake the improv~ent <br /> <br /> <br />ofFairview Street from 20th Avenue to a point approximately 800 feet east of 20th Avenue by <br /> <br /> <br />installation of pavement, concrete curb together with neces# draitiage" and ~. sew~. <br /> <br />("Public Improvement"). <br />C. The estimated costs expected to be incurred for the Public Improvement total <br /> <br />$282,673 . <br />NOW, THEREFORE, IN CONSIDERATION OF THElK MUTUAL <br /> <br />, <br /> <br />COVENANTS, THE PARTIES HERETO AGREE AS FOLLOWS: <br /> <br />1. The City will assess the Subject Property for the Public Improvement. The <br />amount of the special assessment is $169,604. The special assessment shall be <br />spread over ten years, together with six percent (6.5%) interest on the unpaid <br />balance. Interest shall begin accruing on Septmber 1, 2007. The special <br />assessment will be certified to the county and be due and payable with property <br />taxes on the Subject Property beginning in 2008. Property Owner agrees to pay <br />when due all installment of special assessments. Failure to pay any ~ent <br />when due, shall immediately cause all remaining oassesmient balances to be due <br />and payable. <br /> <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 /> <br />SId I <br />