925 Cliff Rd - Assessment Deferral AgreementReceipt#: 69339
TORRENS FEE
Return to:
SEVERSON SHELDON DOUGHERTY ETAL
7300 WEST 147TH STREET
STE 600
APPLE VALLEY, MN 55124
$46.00
T653040
Recorded on 10 26/2009 09:00:01AM
By KMP, Deputy
Certificate 128438
Joel T. Beckman Registrar of Title
Dakota County. MN
ASSESSMENT DEFERRAL AGREEMENT
This Assessment Deferral Agreement "Agreement is made this 2O4 day of &eerier',
2009, by and between Vladislav Gokhberg and Liliya Gokhberg, husband and wife, (hereinafter
"Landowner and the CITY OF EAGAN, a Minnesota municipal corporation (hereinafter
"City (Landowner and City are hereinafter collectively referred to as the "Parties
WHEREAS, Landowner is the fee owner of property located in the City of Eagan,
County of Dakota, State of Minnesota and legally described as
Lot Three (3), Block One (1), ACORN POND ADDITION, according to the
recorded plat thereof.
(the "Property
WHEREAS, as part of City Public Improvement Project 905R (hereinafter the "Project
the City assessed the Property for storm sewer trunk improvements iw the amount of Five
Thousand Eight Hundred Sixty -four and 05/100 Dollars ($5,864.05) (the "Assessment
WHEREAS, the Landowner has requested that the City defer the Assessment until the
Property is sold, subdivided or developed; and
WHEREAS, the City is willing to defer collection of the Assessment upon the terms and
conditions contained herein.
Page 2 /ASSESSMENT DEFERRAL AGREEMENT
WHEREAS, THEREFORE, in consideration of the mutual promises contained herein
and other good and valuable consideration, the receipt and sufficiency of which are hereby agree
as follows:
1. DEFERRED ASSESSMENT. Pursuant to Minn. Stat. 429.061, subd. 2, the
Parties agree that the payment of the first installment of the Assessment,
including interest thereon, shall be deferred until the Property is sold,
subdivided, platted or otherwise developed, whichever occurs first, at
which time the first installment of the Assessment shall become due and
payable. The Assessment shall bear interest at the rate of six percent (6%)
per annum as set forth in the assessment roll for the Project. When the
first installment of the Assessment becomes due and payable, interest
accrued on the Assessment from April 21, 2009, to December 31 of the
year that the first installment of the Assessment becomes due and payable
shall be added to the original principal amount of the assessment, and the
totals of those amounts shall become the "Principal Assessment Amounts
Payable." The Principal Assessment Amounts Payable shall be divided
for payment into fifteen equal annual installments, or such lesser number
of equal annual installments as is necessary for the last installment thereof
to be payable not more than 30 years after the levy of the Assessment.
The first installment of the Principal Assessment Amounts Payable, plus
one year interest thereon until December 31 of the year in which the first
installment is to be paid, shall be included in the first tax rolls completed
after it becomes due and payable, and shall be paid in the same year as the
taxes contained therein, and to each subsequent installment shall be added
interest for one year on the remaining unpaid installments which shall be
paid in a like manner.
The Parties agree that, notwithstanding anything in this Agreement to the
contrary, the Assessment and all interest thereon must be paid in full no
later than December 31, 2039. In the event the Assessment has not been
paid prior to December 31, 2019, the Principal Assessment Amounts
Payable shall be payable in 15 annual installments commencing January 1,
2020, together with interest thereon at the rate of six percent (6 per
annum.
WAIVER. The Landowner hereby accepts the Assessment and hereby
waives the right to object or appeal the Assessment pursuant to MINN.
STAT. 429.081 and further waives notice of hearing on this Agreement.
Page 3 /ASSESSMENT DEFERRAL AGREEMENT
3. BINDING EFFECT. This Agreement shall be binding upon and inure to the
b e n e f i t of the parties' heirs, successors and assigns an hall run with the
land.
STATE OF MINNESOTA)
)ss.
COUNTY OF DAKOTA
Vladi lav Gokhberg
Liliya Gokhberg
CITY OF EAGAN:
By:
Mike Maguire
Its: Mayor
By: Or(
Maria Petersen
Its: Clerk
The foregoing instrument was acknowledged before me this I of
fxtogE¢— 2009, by Vladislav Gokhberg and Li 'ya Gokhberg, husband and wife.
day of
Notary Itublic
John D. Bolling
[j 'ya F➢
NOTARY PUBLIC
A8 St
�s�a.Fe of M'selnesota
w r 'su romniision [zptres 1- 31 -2013
Page 4 /ASSESSMENT DEFERRAL AGREEMENT
STATE OF MINNESOTA)
)ss.
COUNTY OF DAKOTA
The foregoing instrument was acknowledged before me this ?-04.1%. day of
Oc. ober' 2009, by Mike Maguire and Maria Petersen, the Mayor and Clerk of the City
of Eagan, a Minnesota municipal corporation, on behalf of the municipal corporation.
APPROVED AS TO FORM:
City Attorney's Office
Dated: j4.5l'
Publi orks Department
Dated: /0 —AO— 0 9.
THIS INSTRUMENT WAS DRAFTED BY:
Severson, Sheldon, Dougherty Molenda, P.A.
7300 West 147 Street, Suite 600
Apple Valley, MN 55124
(952) 432 -3136
(RBB: 206 28146)
ti
JUDY M. JE NK1NS
NOTARY PUBLIC MINNESOTA
My Commission Expin es Jan. 31, 2010