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<br />III. SITE DESCRIPTION AND PURPOSE OF AGREEMENT <br /> <br />A. The land which is the subject of this Agreement (hereinafter referred to as the <br /> <br />Site) is located in the City within the area described in Attachment 1 and depicted <br />on Attachment 2. <br /> <br />B. Individual properties within the Site are owned by a number of entities; the Site is <br /> <br />entirely situated within the Twin Lakes Area Redevelopment Area which is <br /> <br />designated in the Comprehensive Plan for the City of Rose vi lie adopted by the <br /> <br />City Council on June 26,2001. <br />C. The City intends to perform an investigation of the conditions and characteristics <br /> <br />of the ground water in and around the Site to facilitate its redevelopment and to <br /> <br />simplify/expedite the process for securing environmental assurances for properties <br /> <br />within the Site. <br />D. Specifically, the purpose of this Agreement is to establish a framework for <br /> <br />conducting an area-wide ground water investigation at the Site in order to satisfy <br /> <br />MPCA requirements for ground water investigations needed to obtain <br /> <br />envirOlID1ental assurances and to secure preliminary property specific <br /> <br />determinations regarding the adequacy of investigation. <br /> <br />IV. DEFINITIONS <br /> <br />Unless otherwise explicitly stated, the definitions set forth in Minn. Stat. g 115B.02 <br /> <br />(2000) shall control the meaning of the tenns used in this Agreement. In addition, as used in this <br /> <br />Agreement, the following terms are defined as provided in this Section IV: <br /> <br />"Environmental Assurances" means and refers to written assurances issued by the MPCA <br /> <br />regarding completion of investigation and/or liability under MilID. Stat. ch. 115B or a closure .. <br /> <br />Doc# 1766546\2 <br /> <br />2 <br />