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<br />.._^-- .,...'.- -- -.. -- - ----- -- - ~-_.- - --,-- - - - ~-'-' -"-~ <br /> <br />2. The I'lopedy Owner waives any and all procedural and sul:Wn>tive ObjectiOllS 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 /> <br />3. Property Owner may prepay the entire special assessment without intmst if paid <br />in full by October 1,2007. <br /> <br />4. To guarantee COIl1pliance with the terms of this Agreement, the Property Owner <br />shall furnish the City with Security in a form aeceptable to the City and from II <br />bank acceptable to the City for the total value of the special assessment plus one- <br />year simple interest (the c=ut estimate amounl is $120,418). The Security sba1l <br />be for a period no less than six months longer tbal the term of the special <br />lISSeSsmellt. The City may draw down the Security, upon notice to the Property <br />Owner sent via first class mail, for any default of the terms of this Agreement or if <br />the Security is allowed to lapse prior to the end of the required term. If the <br />Security is drawn down the proceeds shall be used to cure the default and/or pay <br />for any costs under this Agreement. <br /> <br />S. 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 /> <br />6. No remedy herein conferred upon or reserved to the City is intended to be <br />ell:clusive 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 /> <br />7. No delay or omission to exercise any right or power accruing upon any default <br />shall impair any such right or power or shall be construed to be a waiver thereof, <br />but any such right and power may be ex.ercislld from time to time and as often as <br />may be deemed expedient by the City. <br /> <br />8. In the event any provision of this Agreement shall be held invalid, illegal, or <br />Wlenforceable by any court of competent jurisdiction, sw:h holding shall not <br /> <br />-2. <br />