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<br />FILE No.780 09/22 '03 10:49 ID:WELLINGTON FAX:651 292 0072 <br />Q=~ l~ ~~~J ~~:~b rK rH~YHN~Kc LHW rlRM 512 338 3857 TO 9B~t2820072 <br /> <br />PAGE 5/ 11 <br />P.U4 <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 />For Tux lncrernont Financing r~s~- if requested by ....- '\.. <br />Redevelop~ the City may require Redevelopefto execute. or CaUSe <br />to be executed 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 ~ <br />increment financing is being provided, '1'ltC; a..- <br /> <br />If necessary to complete the City and County pu lie purpose: plans <br />for the area, the City win consider the 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. ; <br />1D(~' <br />To institute condemnation proceedings, rhe ~\I"'lOfJer will <br />provide 20% of the City's estimate of the total acquisition cases for <br />the parcel, which shall include ;1uorn;y's fees and all other <br />professiom~l fc;es and services. The City will seek the advice. of the <br />~ooe\'eJlG'Per for the attorney it engages to pursue eminent domain <br />proceedings. ~tq.~ " ./ <br />. . ~. :iG ~ ""\ <br />At the tlme a court depostt reqUlred, the Re~pcr will <br />advance an amount equat to 30% of the estimated total <br />acquisition COStS, less the Ih,Jddupe:r<s initial deposit. transfer <br />of the parcel to the R~d.iHQ18pi_ e <br />acquisition of the parcel. At the closing, the r 81 er <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 kss than the ~Jtvclop'cr's <br />deposits. 'TeA'~' t '..,) <br /> <br /> <br />Interest on ~ _ depoiit will accrue to the benefit of the <br />R~developer. JG.'~.,..f-- <br /> <br />The City shall reimburse for the relocation servict:s and benefits <br />for an tenants of th~ Redevelopment Propeny in accordance with -;.~ :t <br />the requiroments of Minne;sota Sta.tutes. Th~ ~r.d.c.1l:clD~t'-wrr-r IO.l~"'" <br />reimburst: th~ City for all reasonable costs an ex nses related <br />thereto for tenant relocation. 1'Lo R.~d.6,L~' may, in lieu of <br />reimbursement for such services and beMfits for a,tenant, provide <br />a written waiver by that tenant. Such waiver mus . a fonn <br />acceptable to the City. To shan indemnify the City <br />for any relocation liabilities arising under applicable- law with <br />respect to any ponion of the Redevelopmenr Property. <br /> <br /> <br />3 <br />