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(b) Tl�ere is ��a litigatiora �e�lding, or to the b�st of its icnovvledge tlareatel��d, against t�e <br />Developer a�fectiz`�g its ability ta develop a��d ope�•ate t�e De�veloprn��at or to Garry out the <br />terins of this Agreeir�en�. <br />ART�C�� �T <br />`�`� �XE�`�'��� <br />Section 2.0�. Exei�pt S�atr�s. T1�� �eveloper sha�7 I�ave the right, at any ti�ne, following or <br />duri��g t�e co��structioil of partio��s of tlle l�evelopiale��t, tc� a�p1y £or exenaptiar� for soz�e pz' all of <br />t1�e Deve�opment �i•o�n real prope�-�y iaxafio�l ii�t accordance witI� apptica�le N�inn�sota law, and <br />tlae City a;r��s to acquiesoe in such a��plicatia�a, p�•oviditt; t��e D�v�loper is na� tla�rz in defaui� <br />l�ereu���er. <br />��T�c�,� �ri <br />������� �o� c�TY s������s <br />Sect'ro�i 3.01. Ci_,� Services. The City laereby agrees ta p�•ovide tkae Develope� with all af t�e <br />services that ix provides ta property awnez's ar�d t�ie p�blic in ge�e,ral witizzn t�e City lir�zats, <br />i��cl�dir�g withoui 1i�nitatiot� police protection and fre �rot�c��on services (referred ta generally <br />as "�vlunicipal Services"). <br />Section 3.02. �'�me�t for Mu�xieipa� ,�ervices. In e�ch eaIendar year �n wfaich no prope�y taxes <br />are payabie wit� respec# to a�ry poz�tia�� of tl�e Developrne�at because of a granted e�ce�nptioza, ��� <br />Deve�oper sha�l �nake a payz�nent in lieu of taxes to the City ec�ual to the anr�out�i tlle Ciiy a�1d <br />Independen� Scl�ool Distcict 622 wauld have �•eceived i£that pQrtio�a a�t1�e Uevelapznent <br />iticlusive of real estate anc� itnprove�a�en�s ��Zez'eto (t�Ze "Ex�rr�pt Prape�'ty") were �of exeznp� fi'o� <br />properE� tiaxatian az�d tiae market �alue o�t�e Exem��t �'�°operiy was cEeter��ined in acco�'dance <br />with the provisions hereo�: The Develapinent and �he City stipulate aa�d agree that sucil a�nount <br />is fair corzape��sation �'ar the Municipal Services. <br />Sectian 3.03. Cn�a�putation o��'av�ei�t. The City Ad►ninistrator/Cteric/Treasurer sha11 co�r�puie <br />the arnaunt �£ihe reguixed paytxzent aa�n�ally a��d advis� the Dev�loper af th� a�naunt du� i� such <br />year a��d o�f t�e �nanz�er ii� wlazck� sucl� ai�ount was com�uted as early as practicable, The <br />cornpt�tatio�a sha�I be co�rtpleied by t�e C�ty fgr tlle curr�nt year by Maa•ch 3 5 and calc�lated in <br />acco�•da�zce section 3.04 aiad invoiced �o late�• i�an March 31. The �ay�ne�3t shaIi be �nade in t-r�o <br />ee�ual i��stall�net�t�s due a�� 1VIay 15 and 4c�:ober 15 a�� eac�� year, or on suck� a�k�ez' dates as are <br />establisl�ed froi� ti�ne #o ti��ne by law �or the payzx�ent of ad vatore�n properiy taxes in Min�lesota. <br />In the e�Tent �a}�meni as not �nade �v�aea� due, 1he �]evelop�r sk�all also pay pei�alties a�d interest <br />co��.��uted as pravided in Miz���esoia Statufes, as a���ended froin titr�e to iirne, �ar delinque�at <br />pro�e�-ty tax }�a��nents. The aggregate ailnual payxnent shali be tl�►e product of the �narket value o�' <br />tl�e �xempt Prop�rty as a�Ja►��az'� 2 ofthe y�ar next preceding the year �`o�- wiaich the payx��nt <br />arr�oua�t is bei��� co�nputed a�1d deterini�led in accardance with tl�e folior�ing Sections 3.04 <br />fh�•ou�l� 3.07, the laeai tax rate for tl�� City azad Iaadependent Scl�ool Uistrici 622 deter�nined ii3 <br />