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4290 Blackhawk Rd - Assessment Postponement AgreementReceipt#: 139364 ABSTRACT FEE $46.00 Return to: SEVERSON SHELDON DOUGHERTY ETAL 7300 W 147TH ST 4600 APPLE VALLEY, MN 55124 ASSESSMENT POSTPONEMENT AGREEMENT 2787532 Recorded on: 2/23/2011 09:31:42AM By: TMB, Deputy Joel T. Beckman County Recorder Dakota County, MN This Assessment Postponement Agreement ( "Agreement ") is made this (6 of 2010, by and between Robert D. Kruger and Iona L. Kruger, husband and wife, (collectively the "Owner ") and the City of Eagan, a Minnesota municipal corporation, (the "City ") (collectively referred to as the "Parties "). WHEREAS, the Owner is the fee title holder of real property located at 4290 Blackhawk Road, Eagan, Minnesota, legally described as follows: See Exhibit A attached hereto and incorporated herein (the "Property "); and WHEREAS, the current use of the Property is single - family residential; and WHEREAS, the Property is designated as high- density residential in the City's Comprehensive Guide Land Use Plan; and WHEREAS, the City's special assessment policy provides for property to be assessed at its highest and best use, which pursuant to the Comprehensive Guide Land Use Plan is high - density residential; and WHEREAS, the Owner has requested that the City postpone levying a portion of the special assessment against the Property for City Public Improvement Project 1015, Blackhawk Road Street Improvements, (the "Project ") until the Property is Developed for high- density residential use, as provided herein; and WHEREAS, the City is willing to postpone levying a portion of the assessment, subject to the terms and conditions contained herein; NOW, THEREFORE, in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 1. Levied Assessment. The Parties agree that the City shall levy an assessment against the Property for the Project, which assessment shall be calculated based on the current Single- Family Assessment Rate of $6.21 per front foot multiplied by 272 front feet for a total levied assessment of $1,689.12 (the "Levied Assessment "). The Levied Assessment shall be payable over five (5) years together with interest at the rate of five percent (5 %) per annum on the unpaid balance. 2. Postponed Assessment. The Parties agree that if and when the Property is Developed, the Owner shall pay to the City an amount equal to 272 front feet multiplied by the High- Density Assessment Rate then in effect for residential street overlay, less $1,689.12 (the "Postponed Assessment "). As used in this Agreement, the term "Developed" means issuance of a grading permit, building permit or other consent from the City to allow for the improvement of the Property for high- density residential use. If the Property is not Developed by December 31, 2040, then the Postponed Assessment shall be null and void. 3. Waiver. The Owner hereby accepts the Levied Assessment and the Postponed Assessment and hereby waives the right to object to or appeal the Levied Assessment or the Postponed Assessment pursuant to Minnesota Statutes § 429.081, as amended from time to time, and further waives notice of any hearing thereon. 4. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Parties and their heirs, successors and assigns and shall run with the Property. IN WITNESS WHEREOF, the Parties have executed this instrument. OWNER: Robert D. Kruger Dated: /X — C fib, 2010 Dated: / Z 4 , 2010 -'4 Iona . Kruger CITY OF EAGAN Dated: / 7 , 2010 By: Mike Maguir Its: Mayor >/1 Dated: - 7 , 2010 By: a ,l ;, c 2 Maria Petersen Its: City Clerk V r. • STATE OF MINNESOTA ) ) ss. COUNTY OF %c do` ) The foregoing instrument was acknowledged before me this 62 day of , 2010, by Robert D. Kruger and Iona L. Kruger, husband and wife. JOHN P. GORDER ti NOTARY PUMIC • MINNESOTA � My Commission Expires Jan. 31, 2012 1 ) ss. COUNTY OF DAKOTA ) The foregoing instrument was acknowledged before me this 7 day of , 2010, 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. MIRA L. BROYLES Notary Public-Minnesota My Commission Expires Jan 31, 2015 APPROVED AS TO FORM: City Attorney's Office Dated: 2 -1(' - e ( 1( et_ MINNESOTA Public Works Department Dated: I'2 - ' 2 - 2 1 6 THIS INSTRUMENT WAS DRAFTED BY: Severson, Sheldon, Dougherty & Molenda, P.A. 7300 West 147 Street, Suite 600 Apple Valley, Minnesota 55124 (952) 432 -3136 (MDK: 206 - 29068) Notary Public hyJ EXHIBIT A LEGAL DESCRIPTION That part of the Northeast 1/4 of Section 29, Township 27, Range 23, Dakota County, Minnesota, described as follows: Commencing at a point on the North line 244.5 feet East of the Northwest corner of the Northwest 1/4 of Northeast 1/4 of Section 29, Township 27, Range 23, thence Southerly along the center line of the Township Road running southerly through said subdivision, a distance of 1320.6 feet to the actual place of beginning; thence Southerly along the center line of said township road 136 feet; thence East a distance of 160 feet; thence North and parallel with the West line and the center line of said township road a distance of 136 feet; thence West and parallel with the said south line a distance of 160 feet to the place of beginning; subject to existing highways and existing easement in favor of the Northern National Gas Company, according to the Government Survey thereof, Z and tT That part of the Northeast Quarter (NE %) of Section Twenty -Nine, Township Twenty -Seven (27), Range Twenty -Three (23), Dakota County, Minnesota, described as follows: Commencing at a point on the North line 244.5 feet East of the Northwest Corner of the Northwest Quarter (NW %) of the Northeast Quarter (NE'/) of Section Twenty -Nine (29), Township Twenty -Seven (27), Range Twenty -Three (23); thence southerly along the center line of the Township Road running southerly through sub - division a distance of 1320.6 feet to the actual point of beginning; thence East a distance of 160 feet; thence North and parallel with the West line of said Township Road a distance of 136 feet; thence West 160 feet to the center line of said road; thence South along said center line 136 feet to the actual place of beginning, all according to the Government Survey thereof. (PID No. 10- 02900 - 010 -08) ASSESSMENT POSTPONEMENT AGREEMENT This Assessment Postponement Agreement ( "Agreement ") is made this 0 of ‘`) °�y� — 2010, by and between Robert D. Kruger and Iona L. Kruger, husband and wife, (collectively the "Owner ") and the City of Eagan, a Minnesota municipal corporation, (the "City ") (collectively referred to as the "Parties "). WHEREAS, the Owner is the fee title holder of real property located at 4290 Blackhawk Road, Eagan, Minnesota, legally described as follows: See Exhibit A attached hereto and incorporated herein (the "Property "); and WHEREAS, the current use of the Property is single - family residential; and WHEREAS, the Property is designated as high- density residential in the City's Comprehensive Guide Land Use Plan; and WHEREAS, the City's special assessment policy provides for property to be assessed at its highest and best use, which pursuant to the Comprehensive Guide Land Use Plan is high - density residential; and WHEREAS, the Owner has requested that the City postpone levying a portion of the special assessment against the Property for City Public Improvement Project 1015, Blackhawk Road Street Improvements, (the "Project ") until the Property is Developed for high - density residential use, as provided herein; and WHEREAS, the City is willing to postpone levying a portion of the assessment, subject to the terns and conditions contained herein; NOW, THEREFORE, in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: ?o cgict&eitacoK 1. Levied Assessment. The Parties agree that the City shall levy an assessment against the Property for the Project, which assessment shall be calculated based on the current Single - Family Assessment Rate of $6.21 per front foot multiplied by 272 front feet for a total levied assessment of $1,689.12 (the "Levied Assessment "). The Levied Assessment shall be payable over five (5) years together with interest at the rate of five percent (5 %) per annum on the unpaid balance. 2. Postponed Assessment. The Parties agree that if and when the Property is Developed, the Owner shall pay to the City an amount equal to 272 front feet multiplied by the High- Density Assessment Rate then in effect for residential street overlay, less $1,689.12 (the "Postponed Assessment "). As used in this Agreement, the term "Developed" means issuance of a grading permit, building permit or other consent from the City to allow for the improvement of the Property for high- density residential use. If the Property is not Developed by December 31, 2040, then the Postponed Assessment shall be null and void. 3. Waiver. The Owner hereby accepts the Levied Assessment and the Postponed Assessment and hereby waives the right to object to or appeal the Levied Assessment or the Postponed Assessment pursuant to Minnesota Statutes § 429.081, as amended from time to time, and further waives notice of any hearing thereon. 4. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Parties and their heirs, successors and assigns and shall run with the Property. IN WITNESS WHEREOF, the Parties have executed this instrument. Dated: / — — l0, 2010 OWNER: Dated: / , 2010 By: Mike Maguir Its: Mayor D a t e d : / , 2010 By: ( � Maria e Its: City Clerk Robert D. Kruger 2 Iona L. Kruger ger CITY OF EAGAN Dated: < Z— , 2010 ,� rte/ T l /L , f ..OA STATE OF MINNESOTA ) ) ss. COUNTY OF Vc,o t ) The foregoing instrument was acknowledged before me this CO day of , 2010, by Robert D. Kruger and Iona L. Kruger, husband and wife. JOHN P. GORDER NOTARY PUBLIC - MINNESOTA My Commission Expires Jan. 31, 2012 MINNESOTA ) ) ss. COUNTY OF DAKOTA The foregoing instrument was acknowledged before me this day of , 2010, 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. MIRA L. BROYLES Notary Public-Minnesota My Commission Expires Jan 31. 2015 APPROVED AS TO FORM: City Attorney's Office Dated: p(-■ Public Works Department Dated: ! 2-- 22- t THIS INSTRUMENT WAS DRAFTED BY: Severson, Sheldon, Dougherty & Molenda, P.A. 7300 West 147 Street, Suite 600 Apple Valley, Minnesota 55124 (952) 432 -3136 (MDK: 206- 29068) 3 Notary Public 6AJ That part of the Northeast 1/4 of Section 29, Township 27, Range 23, Dakota County, Minnesota, described as follows: Commencing at a point on the North line 244.5 feet East of the Northwest comer of the Northwest 1/4 of Northeast 1/4 of Section 29, Township 27, Range 23, thence Southerly along the center line of the Township Road running southerly through said subdivision, a distance of 1320.6 feet to the actual place of beginning; thence Southerly along the center line of said township road 136 feet; thence East a distance of 160 feet; thence North and parallel with the West line and the center line of said township road a distance of 136 feet; thence West and parallel with the said south line a distance of 160 feet to the place of beginning; subject to existing highways and existing easement in favor of the Northern National Gas Company, according to the Government Survey thereof, and (PID No. 10- 02900 - 010 -08) EXHIBIT A LEGAL DESCRIPTION That part of the Northeast Quarter (NE %) of Section Twenty -Nine, Township Twenty -Seven (27), Range Twenty -Three (23), Dakota County, Minnesota, described as follows: Commencing at a point on the North line 244.5 feet East of the Northwest Corner of the Northwest Quarter (NW' /) of the Northeast Quarter (NE'/) of Section Twenty -Nine (29), Township Twenty -Seven (27), Range Twenty -Three (23); thence southerly along the center line of the Township Road running southerly through sub - division a distance of 1320.6 feet to the actual point of beginning; thence East a distance of 160 feet; thence North and parallel with the West line of said Township Road a distance of 136 feet; thence West 160 feet to the center line of said road; thence South along said center line 136 feet to the actual place of beginning, all according to the Government Survey thereof.