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CITY OF ROSEVILLE HOUSING REPLACEMENT PROGRAM . PARTICIPATION AGREEMENT ~ ~ ()t.*Oer This Agreement is made and entered into this ~ day of , 1998, by and between the City of Roseville, a municipal corporation under the laws of the State ofMinnesota,'ha~ing its_ A principal office at 2660 Civic Center Drive, Roseville, MN 55113 (City) and ~r~re&rLf~,~~<!/)" ::::r::::.n. ~ ,a Minnesota t!.r-rf'JtJr~(J h ,having its principal office at_ i J J "1, oS hi rJ') A ,,{'tf? . (Developer) >,p,.,"!.1 ~/J-k ~.l/ ~'1 ~3;;Z. In consideration of the mutual covenants and obligations of the City and the Developer, the parties do hereby covenant and agree as follows: 1. The Developer agrees to pay $500 to the City for the rights to participate in redevelopment of a property owned by the City in accordance with the guidelines of the Roseville Housing Replacement Program. 2.., The $500 payment, the receipt of which ITom the Developer is hereby acknowledged by the City, is consideration for CitY expenses and the granting to the Developer the right to negotiate with the City until the Expiration Date (defined below) in an attempt to enter into a Purchase and' .s1'- Redevelopment Agreement to redevelop the property located at ill q d s: f- C 1'61 Y and legally described as 7lJ 11 ~ ~e/e.rm,~~ ' in accordance with the City ofRoseville Housing Replacement Program. This negotiation right will expire on, 19_ ("Expiration Date"). 3. The City agrees to negotiate with the Developer until the Expiration Date regarding the redevelopment of the property but nothing contained in this Agreement shall require the City to enter into a Purchase and Redevelopment Agreement if, at the City's sole discretion, it deems such not to be in its best interests. The fee paid by the Developer to the City in connection with this Agreement for participation in the City of Roseville Housing Replacement Program is non-refundable and non-transferable to any other property or site owned by the City. However, if a Purchase and Redevelopment Agreement is executed by the City and the Developer, the $500.00 payment made herein shall be applied as a credit against the purchase price upon closing. DEVELOPER By: tw~th)C1{~ \J..f. ~\.. (\U..... ~~ CITY OF ROSEVILLE By: Its Mayor "' ....... Its: By: Its Manager -------..-- ---