2007-02-14 Set Agenda - Laserfiche WebLink

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SPECIAL ASSESSMENT AGREEMENT WAIVER OF HEARING AND APPEAL AGREEMENT mad~ this . day of . 20 ----J by and between . the City of Centerville, a Minnesota municipal corporation ("City"), and Royal Oaks Rea1ty("Property Owner"). RECITALS. A Property Owner is the fee owner of the following descnoed real property, located in the City ofCenterville, Anoka County, Minnesota ("Subject Property"): See attached Exhibit A B. Property Owner requests that the City ofCenterville undertake the improvement ofFairview Street from 2(fh Avenue to a point approximately 800 feet east of20fh Avenue by installation of pavement, concrete curb together with necessary drainage and storm sewer. ("Public Improvemenf'). C. The estimated costs expected to be incurred for the Public Improvement total $282,672. . NOW, THEREFORE, IN CONSIDERATION OF THEJR MUTUAL COVENANTS, THE PARTIES HERETO AGREE AS FOLLOWS: 1. The City will assess the Subject Property for the Public Improvement The amount of the special assessment is $113,069. The special assessment shall be spread over ten years, together with six percent (6.5%) interest on the unp~d balance. Interest shall begin accruing on September 1, 2007. The special assessment will be certified to the county and be due and payable with property taxes on the Subject Property ~g in 2008. Property Owner agrees to pay when due all installment of special assessments. Failure to pay any installment when due, shall immediately cause all rema.ining assessment balances to be due and payable. 2. The Property Owner waives any and all procedural and substantive objections to the Public Improvement and special assessments, including, but not limited to, .5/;