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3908 Cedar Grove Pkwy - Easement and Assessment Agreement Receipt# 300626 2982297 ABSTRACT FEE $46.00 Recorded on: 10/21/2013 09:00:01AM BY: DMB, Deputy Return to: DOUGHERTY MOLENDA 7300 WEST 147TH STREET STE 600 Joel T. Beckman County Recorder APPLE VALLEY, MN 55124 Dakota County, MN FIRST AMENDMENT TO AMENDED AND RESTATED EASEMENT AND ASSESSMENT AGREEMENT This First Amendment to the Amended and Restated Easement and Assessment Agreement ("Agreement") is made this 1s} day of «i~\,f , 2013, by and between the CITY OF EAGAN, a Minnesota municipal corporation (hereinafter "City") and CEDARVALE BUSINESS CENTER LLP, a Minnesota limited liability partnership (hereinafter "Cedarvale Partnership"). (The City and Cedarvale Partnership are collectively referred to as the "Parties"). WHEREAS, the Parties entered into that certain Easement and Assessment Agreement dated June 1, 2004, recorded July 14, 2004 as Document No. 2225141, and the Amended and Restated Easement and Assessment Agreement dated December 20, 2011, recorded December 30, 2011 as Document No. 2839436 (hereinafter the "Amended Agreement") relating to the following real property in Dakota County: Lot 1, Block 1, Stryker Addition, according to the recorded plat thereof, Dakota County, Minnesota, except that part thereof which lies above elevation 842.40 feet (mean sea level datum, N.G.V.D., 1929) being the lowest floor level of the existing apartment buildings located thereon; and lying within the area described as follows: Beginning at the most Southerly corner of said Lot 1; thence North 33° 24' 00" West on an assumed bearing along the Southwesterly line of said Lot 1, a distance of 80.52 feet; thence North 53° 25' 04" East, a distance of 157.82 feet; thence North 36° 34' 56" West, a distance of 40.00 feet; thence North 53° 25' 04" East, a distance of 210.60 feet; thence South 36° 34' 56" East, a distance of 40.00 feet; thence North 53° 25' 04" East, a distance of 156.49 feet to the Northerly line of said Lot 1; thence South 40° 42' 50" East along the Northerly line of said Lot 1, a distance of 80.61 feet to the Northeast corner of said Lot 1; thence South 53° 25' 04" West along the Easterly line of said Lot 1, a distance of 177.60 feet; thence North 36° 34' 56" West, a distance of 40.00 feet; thence South 53° 25' 04" West, a distance of 180.00 feet; thence South 36° 34' 56" East, a distance of 40.00 feet; thence South 53° 25' 04" West, a distance of 177.59 feet to said point of beginning. (the "Property"); and WHEREAS, the City is currently proposing to complete the Project in 2013 and Cedarvale Partnership has requested that the City modify the interest rate for the special assessment therein to reflect the correct rate charged by the City; and WHEREAS , the City is willing to modify the terms of the assessment all upon the terms and conditions contained herein. NOW, THEREFORE, in consideration of the mutual covenants and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows: 1. Paragraph 3 of the Amended Agreement is hereby revised to read as follows: 3. ASSESSMENT. Cedarvale Partnership recognizes the benefit to the Property as a result of the Future Project. Cedarvale Partnership, for itself, its successors and assigns, hereby accepts an assessment against the Property for the Future Project in an amount not to exceed $17,500.00. The assessment shall be levied against the Property in the year following completion of the Future Project. The assessment shall be payable over a period of 10 years at a rate of 3.5% per annum. Cedarvale Partnership hereby waives its right to object or appeal the assessment described herein, pursuant to MINN. STAT. §429.081, and further waives notice of hearing on this Agreement. CITY OF EAGAN, a Minnesota municipal corporation By: 4 41k Mike Maguire Its: Mayor By: diM-A& /w Christina M. Scipioni Its: Clerk 2 STATE OF MINNESOTA) )ss. COUNTY OF DAKOTA ) The foregoing was acknowledged before me thisfi day of DCkbCr , 2013, by Mike Maguire and Christina M. Scipioni, the Mayor and Clerk of the City of Eagan, a Minnesota municipal corporation, on behalf of the municipal corporation. Notary Public APPROVED AS TO FORM: City Attorney's Office CAROL SUE TUMINI Notary Public-Minnesota Dated: l Mr common E~tres Jen s1, 2o1s APPROVED AS TO CONTENT: P;Alic Works epartment Dated: 2 ! i 3 3 CEDARVALE BUSINESS CENTER LLP, a Minnesota limited liability partnership By: _ a~l Its: STATE OF MINNESOTA) )ss. COUNTY OF DAKOTA ) day of The foregoing was acknowledged before me this , 2013, by -I-z^, eX* -9 and , the Ay .-e 1 o and - of Cedarvale Business Center Lfl~ 'q Minnesota limited liability partnershi on behalf of the limited liability partnership. Subhasini Sin h MY 31/15 t il^.- P MY Commission Exorm 011,~1j' Notary Public THIS INSTRUMENT WAS DRAFTED BY: DOUGHERTY, MOLENDA, SOLFEST, HILLS & BAUER P.A. 7300 West 147th Street, Suite 600 Apple Valley, MN 55124 (952) 432-3136 (RBB: 206-21773) 4