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2013_1118_packet
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2013_1118_packet
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11/14/2013 2:38:12 PM
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11/14/2013 12:57:59 PM
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3. Payments. The voluntary assessments will he spread over twelve (12' <br />.) years With <br />a two -year repaym ent de feffal wi th no interest ac cruin g and ten ( 10) ye ar repay M e rat <br />schedule beginning M* 2014. Interest shall accrue starting in 2014 at the rate of six <br />percent (6%) per year on the unpaid balance of the Assessment Amount. If the Owners <br />fail to make any payment of the Assessment Amount when due, the it may take all <br />necessary enforcement action, includm'g the n"ght to impose penalties and interest and to <br />commence j u d i 6 al acti on to col legit the paymeat. <br />4. Assessment Process. The parties shall cooperate with the Ramsey County <br />4. <br />Assessor's office and other County officials as necessary to effectuate the terms of this <br />Agreement'. <br />W <br />5. Sale of Property. In the event the Property is sold, i <br />the entire rernanm g balance <br />of the Assessment Amount shall be due and owing to the City upon closing of the <br />transaction. In the event a porti on of the Property i s so I d, a prorated p or ti on 0 f th e <br />remaining balance of the Assessment Amount proportionate to the percentage of the <br />Property being sold shall be due and owing to the City upon closing of the transaction. <br />The Owners shall make this a condition of any purchase agreement concerning the sale of <br />the Property. <br />6. Priority of Assessment, Pursuant to Minnesota Statutes section 514.67, the <br />voluntary assessment against the Property shall constitute and be a first and prior lien en on <br />flhc Property ,, <br />7. Indemnification for Environmental Matters. The Owners hereby indemnify, <br />and shall protect and hold the City harmless from and against all liabilities, losses, <br />claims, demands, costs, expenses, obligations, including penalties and reasonable <br />attorney's fees, or losses resulting from any claims, actions, suits or proceedings of any <br />nature arising, or alleged to arise from or in connection with a release or threat of release <br />of any hazardous substances, pollutants, or contaminants which may have existed on, or <br />which relate to, the Property and the City's actions in furtherance of this Agreement. <br />8. Rights of Pu bi i c. The Owners do not intend that the pub 1 is should h av e any <br />interest in the above -described land by virtue of this Assessment Agreement. It is <br />expressly agreed by and between the parties hereto that the Owners rctain ownership of <br />the Property and all incidents of ownership. Owners do not 'Intend that the public should <br />have any interest in the land or right to trespass thereon by virtue of this Assessment <br />Agreement or otherwise, except as herein set forth. <br />9. Indemnification. To the extent permitted by Minnesota law, the City hereby <br />indemnifies, and shall protect and hold the Owners harmless from and against all <br />5 <br />liabilities, losses. claims demands, costs, expenses, and judgments of any nature arising., <br />7 <br />
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