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pf09-012
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Last modified
5/29/2014 9:51:11 AM
Creation date
6/21/2013 2:59:49 PM
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Planning Files
Planning Files - Planning File #
09-012
Planning Files - Type
Vacation Right-of-Way
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� <br />the site of the Metro Transit Project and an Outlot A, Twin Lakes Addition (hereinafrer the <br />"Out1oP'), which may be developed in the future; <br />WHEREAS, the disagreement over the nature of the interest com�eyed by the 1959 Quit <br />Claim Deed is, according to the Ow2�er, preventing the Owner from closing on the Metro Transit <br />transaction: <br />WHEREAS, in order to facilitate the platting of the Exhibit A Property into a plat to be <br />kno�vn as Twin Lakes Addition and the commencement of construction of the Metro Transit <br />Project on Lot I, City and Owner wish to resolve the disagreement over die interpretation of the <br />1959 Quit Claim Deed on the terms described herein; and <br />WHEREAS, Cent Ventures 2, a Miiu�esota limited liability company, as a contract <br />purchaser of the Outlot, also supports and agrees to the tenns of resolution of the issue described <br />herein. <br />NOW THEREFORE, IT IS AGREED AS FOLLOWS: <br />City shall execute and deliver to Owner a quit claim deed (hereinafter the "City <br />Quit Claim Deed") conveying to Owner all oPCity's interest in the 10 foot strips affecting the <br />Oudot. <br />Owner shall prepare a plat to be known as Twin Lakes Addition (hereinafier the <br />"PIaP'). As part of the Plat, the Owner will dedicate to the City die 10 foot strips on the noRh <br />and east sides of Lot I as '`public way." The Plat will also show dedication of ] 0 foot strips on <br />the north and east sides of the OuQot as 'public way". <br />Upon receiving the City Quit Claim Deed and receiving the necessary land use <br />approvals from the City for the Twin Lakes Addition plat, the Owner shall proceed to, tirst, <br />record the Quit Claim Deed, and, second, record the Plat, as described in paragraph two above. <br />Once the Pla[ described in paragraph hvo is accepted by Ramsey County for <br />recording the City will prompUy begin the vacation process of the 10 foot strips affecting the <br />
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