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<br />PAGE 5/ 11 <br /> <br />FILE t~o. 780 09/22 '03 10: 49 ID : WELLI NGTON FAX: 651 292 0072 <br />~=~ l~ ~~~J ~~:~b rK rH~YHN~Kc L~W rlRM bIZ 338 3857 TO 98S\2920072 <br /> <br />Minimum Valuation: <br /> <br />Eminent Domain: <br /> <br />11{~+ <br /> <br />Relocation of Tenants: <br /> <br />a. <br /> <br />b. <br /> <br />c. <br /> <br />d. <br /> <br />P.0.:.l <br /> <br />For Tux Increment Financing r:s:-t-_ if requested by ..... Q.. <br />Redevelop~ the City may require Redeveloperro execmB or CaUse <br />to be execmed an asseSSment agreement for each building, <br />guaranteeing minimum values. An aSS~5sment agreement will not <br />be required as to any building for which only pay-as-youx. ~x <br />increment financing is being provided. liS'; Q..-- <br /> <br />If necessary to complete the City and Councy pu lie purpose: plans <br />for the area, the City will consider (he use of minent domain, <br />including the use of quick take, if the er is unable to <br />purchase the Private Property through market negotiations <br />provided: <br /> <br />The required publiC purpose findings can be found to support such <br />action. J <br />1D(S' <br />To institute condemnation proceedings, the ~f'\JP10f)er will <br />provide 20% of the City's estimate of the total acquisition costs for <br />the parcel, which shall inclUde atrol11cy's fees and all other <br />professional fees and services, The City will seek the advice of the <br />:2ooe'lelaper for the attorney it engages to pursue eminent domain <br /> <br />proceedings. ~,q..I11 Ii ~ -{ <br /> <br />At the time a court deposit required, the ;r~pcr will <br />advance an amount equal co 30% of the estimated total <br />acquisition COStS, Jess the ~J,,(ldu.fler<s initial deposit. Transfer <br />of the parcel to the Ri:di"81ape_ e <br />acquisition of the parcel. At the closing, the r e1 et <br />shaH pay the condemnation costs, if any, incurred beyond the. Sums <br />previously deposited by the elve a refund <br />if the final total acquisition costs are less than the ~cl.c\'doP.Gr's <br />deposits. \(A"~' t '.,) <br /> <br /> <br />Interest on ~. de:tt will accrue to the benefit of the <br />R~developer.~' ~ <br /> <br />The City shall reimburse for the relocation servic~s and benefits <br />for all tenants of th~ Red~velopment Propeny in accordance with 14 :t <br />the requiroments of Minnesota St:atu~es. Th~..d~d.opt'~ 1,t.- <br />reimbursl;: th~ City for all reasonable costs an ex nses related <br />thereto for tenant relocation. 1Uc-' R...J6.(.~ may, in lieu of <br />reimbursement for such services and benefits for a tenant, provide <br />a written waiver by that tenant. Such waiver mus . a form <br />acceptable to the City. "Ii e shaH indemnify the City <br />for any relocation liabilities arising und~r applicable law with <br />respeCt to any portion of the Redevelopment Property. <br /> <br /> <br />3 <br />