HomeMy WebLinkAbout6.k. Agreements for Prestwick Place 2nd EXECUTIVE SUMMARY
CITY CBUNCIL
City Council Meeting: August 16, 2011
AGENDA ITEM: Agreements for Prestwick Place 2"d AGENDA SECTION:
PREPARED BY: Andrew J. Brotzler, PE AGENDA NO.
Director of Public Works City Engin
ATTACHMENTS: Subdivision Agreement APPROVED BY:
RECOMMENDED ACTION: Motion to Authorize the Execution of the Subdivision
Agreement for Presfinrick Place 2" City Project 425
BACKGROUND
On July 19, 2011, City Council approved the final plat for Prestwick Place 2° conditioned upon the
execution of a subdivision agreement with the developer, D.R Horton. Attached for Council
consideration is a subdivision agreement for Prestwick Place 2" that includes a petition and waiver
agreement for the assessment of public improvement costs and trunk area fees for the project.
Also included in the subdivision agreement is a land exchange agreement between the City and Arcon
Development. As part of the Akron Avenue project, the city previously acquired three (3) exception
parcels along Akron Avenue that are encompassed bythe Prestwick Place 2 °d ACiC�1L1011 These parcels
were acquired based on the need for road right-of-way, and the remnant parcels are now proposed to be
incorporated into the Prestwick Place 2° Addition subdivision. In the attached agreement, Arcon
Development agrees to give the City an outlot of land which will be used as a futur•e well site, plus an
amount of cash, which together equaLs the negotiated value of the three City-owned parcels on Akron
Avenue that will be included in the subdivision.
SUMMARY
Staff is recommending City Council authorization to execute the subdivision agreement for Prestwick
Place 2° The master subdivision agreement includes the petition and waiver agreement for the
assessment of the project costs, and the land exchange agreement with Arcon Development.
G:\ENGPROJ\425\20110816 CC SubAgr-PetWav LandEs.docx
SUBDIVISION AGREEMENT
Prestwick Place 2 Addition
AGREEMENT dated this day of 2011, by and
between the CITY OF ROSEMOUNT, a Minnesota municipal corporation, (the "City"), D.R.
HORTON, INC. MINNESOTA, a Delaware corporation (the "Developer"), and ARCON
DEVELOPMENT, INC., a Minnesota corporation ("Arcon").
1. Request for Plat Approval and Back�round. The City has been requested to approve
the subdivision of land and a plat of land to be known as Prestwick Place 2 Addirion,
which land is legally described on ATTACHMENT ONE, attached hereto and hereby
made a part hereof (hereinafter referred to as the "Subject Property"). The owner of the
Subject Property is Arcon. Upon recording of the plat of Prestwick 2" Addirion, Arcon
will convey to Developer all of the Subject Property except those parts to be platted as
Outlots B, C and D in the Plat of Prestwick 2" Addition. Such property to be conveyed
to Developer is sometimes hereinafter referred to as "Developer's Property". Developer,
and Developer's successors and assigns (or Arcon if the Developer's Property is not
conveyed to Developer), will assume a11 responsibilities under this Agreement, except
those explicitly made applicable to Arcon.
2. Conditions of Plat Approval. The City has approved the subdivision and the plat on
the following conditions:
a. Incorporation of recommendations of the City Engineer concerning design and
installation of public infrastructure and including grading, erosion control, streets
and utilities.
b. Execution of a Subdivision or Development Agreement to secure the public and
private improvements.
c. Payment of all applicable fees including G.I.S., Park Dedication and other fees
identified in the current fee schedule.
d. Incorporation of any easements necessary to accommodate drainage, ponding, trails,
underpasses, conservation areas, streets and utilities.
e. Payrnent of $155,637 for the Developer's share of Connemara Trail extension project,
as indicated on EXHIBIT D of ATTACHMENT TWO. This amount is based on
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construction estimates at the time of execution of this Agreement and may be subject
to change. In the case of overpayment, the Developer will receive a refund. In
the case of underpayment, the Developer will be required to pay addirional amounts
upon request by the City.
f. Payment of $3,427 for the Developer's share of the construction of Akron
Avenue, as indicated on EXHIBIT D of ATTACHMENT TWO. This amount is
based on a$278 per acre assessment x 12.31 acres.
3. Phased Development. The City may refuse to approve final plats of subsequent
additions of the plat if the Developer or Arcon has breached this Agreement and the breach
has not been remedied. Development of subsequent phases may not proceed until
Subdivision Agreements for such phases are approved by the City. This paragraph
applies to Arcon and Developer.
4. Effect of Subdivision Aaaroval. For two (2) years from the date of this Agreement, no
amendments to the City's Comprehensive Plan, except an amendment placing the plat in
the current urban service area, or official controls shall apply to or affect the use,
development density, lot size, lot layout or dedications of the approved plat unless
required by state or federal law or agreed to in writing by the City and the Developer.
Thereafter, notwithstanding anything in this Agreement to the contrary, to the full extent
permitted by state law, the City may require compliance with any amendments to the
City's Comprehensive Guide Plan, official controls, platting or dedication requirements
enacted after the date of this Agreement.
5. Development Plans. The Subject Property shall be developed in accordance with
the following plans, original copies of which are on file with the City Engineer. The plans
may be prepared, subject to City approval, after entering this Agreement, but before
commencement of any work on the Subject Property. If the plans vary from the
written terms of this Agreement, the written terms shall control. The plans are:
Plan A Plat
Plan B- Soil Erosion Control Plan and Schedule
Plan C- Drainage and Storm Water RunoffPlan
Plan D- Plans and Specificarions for Public Improvements
Plan E- Grading Plan and House Pad Elevations
Plan F Street Lights
Plan G Landscape Improvements
6. Installation bv Developer. The Developer shall install or cause to be installed and pay
for the following, hereinafter referred to as the "Developer Improvements":
A. Setting of lot and block monuments
B. Surveying and staking of work required to be performed by the Developer
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C. Gas, electric, telephone, and cable lines
D. Site grading
E. Landscaping
F. Streetlights
G. Other items as necessary to complete the development as stipulated herein or in
other agreements.
7. Time of Performance. The Developer shall install all required improvements
enumerated in Paragraph 6 which will serve the Subject Property by December 31,
2012. The Developer may, however, request an extension of time from the City. If an
extension is granted, it shall be conditioned upon updating the security posted by the
Developer to reflect cost increases and the extended completion date.
8. Public Infrastructure. The following improvements, hereinafter referred to as
"Public Infrastructure Improvements" (known as City Project 425), shall be designed,
inspected, surveyed and administered by the City, and installed in the Subject Property
at Developer expense by a Contractor selected by the City through the public bidding
process:
A. Sanitary Sewer
B. Watermain
C. Storm Sewer
D. Streets
E. Sidewalks/Pathways
ATTACHMENT ONE (page 3) shows the area within which the Public
Infrastructure Improvements will be constructed pursuant to this Paragraph. Contracts
shall provide for construction in accordance with plans and specifications prepared
by the City or its consultants. The City will not enter into such contracts until all
conditions of plat and subdivision approval have been met, the plat is recorded, and the
City has received the bonds and security required by this agreement.
The City will obtain any necessary permits from the Minnesota Pollution Control
Agency, Deparhnent of Health and all other agencies before proceeding with
construction.
9. Assessment for Costs of Public Infrastructure Improvements. Developer
petitions the City for construction of the Public Infrastructure Improvements listed in
paragraph 8, the construction of Connemara Trail and Akron Avenue, and the assessment
of Developer's share of the cost thereof, together with Storm Sewer Trunlc Charge,
Sanitary Sewer Trunk Charge and Watermain Tmnk Charge against the Developer's
Property in accordance with the Petition and Waiver Agreement attached hereto as
ATTACHMENT TWO, which is hereby made a part hereof.
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Payment of special assessments when due as levied and as specified in ATTACHMENT
TWO is a personal obligation of Developer and upon failure of Developer or its
successors in interest to pay such assessments when due the City may exercise any
remedy specified herein or otherwise allowed in law or equity including, but not
limited to, refusal to issue building permits and certificates of occupancy for any lot or
lots for which the full amount of principal and accrued interest of assessments levied
pursuant to ATTACHMENT TWO are not fully paid. Upon execution of this
Agreement, the Developer will provide the letter of credit described in ATTACHMENT
TWO.
10. Securitv for Develoner Imurovements. To guarantee compliance with the terms of
this Agreement, payment of the costs of all Developer Improvements, and construction
of all Developer Improvements (as noted in Paragraph 6), the Developer shall furnish
the City with a cash escrow or irrevocable letter of credit from a bank("security") in the
amount of One Hundred Ninety Thousand, Sixty-Nine Dollars ($190,069), which is
110% of the estimated cost of the Developer Improvements. The amount of the
security was calculated as follows:
Cost 110%
radin Erosion Control $48,230 $53,053
ond Restoration and Erosion Control $50,000 $55,000
emoval
Surve Monumentation $14 500 $15 950
Landsca in $27,360 $30,096
Street Li tin S li ts $32 000 $35 200
uffer Monumentation $700 $770
otal $172,790 $190,069
Refer to EXHIBIT A and EXHIBIT B for an explanation of each item.
The bank and form of the letter of credit or other security shall be subject to the
approval of the City Administrator. The letter of credit shall be automatically
renewable until the City releases the developer from responsibility. The letter of credit
shall secure compliance with the terms of this Agreement and a11 obligations of the
Developer under it. The City may draw down on the letter of credit without notice if the
obligations of the Developer have not been completed as required by this Agreement. In
the event of a default under this Subdivision Agreement by the Developer, the City
shall furnish the Developer with written notice by certified mail of Developer's
default(s) under the terms of this Subdivision Agreement. If the Developer does not
remove said default(s) within two (2) weeks of receiving notice, the City may draw on
the letter of credit. With City approval, the letter of credit may be reduced from time to
time as financial obligations are paid and developer-installed improvements completed
to the City's requirements.
11. Grading Plan/Site Grading. Site grading shall be completed by the Developer at its
cost and approved by the City Engineer. The completion of grading activities will
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need to be coordinated by the City in conjunction with the installation of utilities.
Developer shall furnish the City Engineer satisfactory proof of payment for the site
grading wark and shall submit a certificate of survey of the development to the City as
the site grading is completed by phase, with street and lot grades. If the installation of
utilities is occurring simultaneously with the grading, tl�e utility contractor shall have
preference over the grading activities. No substantial grading activities can be completed
over installed utilities unless otherwise protected. All improvements to the lots and the
final grading shall comply with the grading plan as submitted and shall be the
responsibility of the Developer.
12. License. The Developer hereby grants the City, its agents, employees, officers
and contractors a license to enter the Subject Properiy to perform a11 work and inspections
deemed appropriate by the City during the installation of Public Infrastructure
Improvements.
13. Erosion Control. Prior to site grading, and before any utility construcrion is commenced
or building permits are issued, the erosion control plan, Plan B, shall be implemented,
inspected and approved by the City. All areas disturbed by the excavation and
backfilling operations shall be reseeded within 72 hours after the completion of the work
in that area. Except as otherwise provided in the erosion control plan, seed shall be rye
grass or other fast-growing seed suitable to the existing soil to provide a temporary
ground cover as rapidly as possible. All seeded areas shall be mulched and disc-
anchored as necessary for seed retention.
All basement andJor foundation excavation spoil piles shall be kept completely off City
right-of-way and shall be completely surrounded with an approved erosion control silt
fence. Approved erosion control fencing shall be installed around the perimeter of
each lot or at City-approved locations at the time of building permit issuance and
remain in place until the lot is seeded or sodded. A 20-foot opening will be allowed
on each lot for construction deliveries.
The parties recognize that time is critical in controlling erosion. If development does
not comply with the erosion control plan and schedule, or supplementary instructions
received from the City, the City may take such action as it deems appropriate to
control erosion. This right also applies to the required erosion control for basement
and/or foundation excavation spoil piles. The City will attempt to notify the Developer
in advance of any proposed action, but failure of the City to do so will not affect the
Developer's or City's rights or obligations hereunder. If the Developer does not
reimburse the City for any cost the City incurred for such work within thii (30) days,
the City may draw down the letter of credit to pay any costs. No development will be
allowed, and no building permits will be issued unless the Subject Property is in full
compliance with the erosion control requirements.
14. Plantin$ and Seedin�. Landscaping shall be in accordance with Landscape Plans
approved by the City Planner.
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15. Clean up. The Developer shall clean streets of dirt and debris that has resulted from
construction work by the Developer, its agents or assignees. The City will inspect the site
on a weekly basis and determine whether it is necessary to take additional measures to
clean dirt and debris from the streets. After 24 hours' verbal notice to the Developer,
the City will complete or contract to complete the clean up at the Developer's expense
in accordance with the procedures specified in Paragraph 13. The Developer shall
inspect and, if necessary, clean all catch basins, sumps, and ponding areas of
erosion/siltation and restore to the original condition at the end of home construction
within this development. All silt fence and other erosion control should be removed
following the establishment of turf. These items are to be secured through the letter of
credit as is noted in EXHIBIT A.
16. Ownership of Imurovements. Upon completion and City acceptance of the work and
construction required by this Agreement, the public improvements lying within public
rights-of-way and easements shall become City property without further notice or action
unless the improvements are slated as private infrastructure.
17. Warranty. The Developer warrants all work required to be performed by it against
poor material and faulty workmanship for a period of two (2) years after its
completion and acceptance by the City. All trees, grass and sod shall be warranted to
be alive, of good quality and disease free for twelve (12) months after planting.
18. Resuonsibilitv for Costs.
A. Except as otherwise specified herein, the Developer shall pay all costs incurred by
it or the City in conjunction with the development of the Subject Property including,
but not limited to, Soil and Water Conservation District charges, legal, planning,
engineering and inspection expenses incurred in connection with approval and
acceptance of the subdivision and the plat, the preparation of this Agreement and
any amendments hereto, and all costs and expenses incurred by the City in
monitoring and inspecting the development of the Subject Property.
B. The Developer shall hold the City and its officers and employees harmless from
claims made by itself and third parties for damages sustained or costs incurred
resulting from plat or subdivision approval and development of the Subject
Property. The Developer shall indeiruufy the City and its officers and employees for
all costs, damages or expenses which the City may pay or incur in consequence of
such claims, including attorney's fees.
C. The Developer shall reimburse the City for costs incurred in the preparation and
enforcement of this Agreement, including engineering and attorney's fees.
The estimated City fees of $181,354 shall be deposited with the City at the
time this Agreement is signed, and represent the following estimates:
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10,000 Engineering Review Fees
119,000 Engineering Design and Construction Admin Fees
5,000 Attorney Fees
29,750 5% City Fees
2,304 Street Light Energy Cost
15 300 Seal Coating
$181,354
If the actual City fees exceed this estimate, the Developer shall pay the additional
costs to the City within ten (10) days of the request.
D. The Developer shall pay in full all bills submitted to it by the City for
obligations incurred under this Agreement within thirty (30) days after receipt. If
the bills are not paid on time, the City may halt development work and construction
including, but not limited to, the issuance of building permits for lots which the
Developer may or may not have sold, until the bills are paid in full. Bills not paid
within thirty (30) days shall accrue interest at the rate of nine percent (9%) per year.
E. The Developer shall pay all energy costs for street lights installed within the
Subject Property for 24-months at a cost of $12/month/light. After that, the City
will assume the energy costs.
F. The Developer will pay the cost of sealcoating the streets within the development
at a cost of $1.70/SY. The sealcoating will be completed within two (2) years
following wear course placement.
19. The Developer agrees to pay fees, charges and assessments set forth in this Section
prior to, or at the time of, execution of any plat by the City:
A. Geographic Information System (GIS) fees in the amount of $1,740.
Or other amounts for such fees as in effect at the time of plat approval.
20. The Developer understands that builders will be required to pay for the Subject Property
fees, charges and assessments in effect at the time of issuance of building permits.
The rates for each of these items will be set according to the current rate structure at the
time the building permit is received. The fees, charges, and assessments in effect as
of the date of this agreement are:
A. Metropolitan Council Environmental Services Availability Charges per SAC unit
(current rate is $2,230).
B. Storm Sewer Connection Charges per single family unit and per multiple family
unit (single family currently at $770; multi-family currently at $290 per housing
unit).
C. Sanitary Sewer Availability Charges per SAC unit (currently at $1,200/SAC
unit).
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D. Water Availability Charges per SAC unit (currently at $2,175/SAC unit for single
family residential and multi-family residential).
E. Park dedication fees (currently $3,400 per single family unit).
21. Building Permits. No occupancy permits shall be issued until:
A. The site grading is completed and approved by the City.
B. All public utilities are tested, approved by the City Engineer, and in service.
C. All curbing is installed and backfilled.
D. The first lift of bituminous is in place and approved by the City.
E. All building permit fees are paid in full.
F. No early building permits will be issued.
The Developer, in executing this Agreement, assumes all liability and costs for
damage or delays incurred by the City in the construction of public improvements
caused by the Developer, its employees, contractors, subcontractors, material men or
agents. No occupancy permits shall be issued until the public streets and utilities
referred to in paragraph 6 and 8 are in and approved by the City, unless otherwise
authorized in wriring by the City Engineer.
22. Record Drawin�s. At project completion, Developer shall submit record drawings
of all public and private infrastructure improvements in accordance with the City's
Engineering Guidelines. No securities will be fully released until all record drawings
have been submitted and accepted by the City Engineer.
23. Develoaer's Default. In the event of default by the Developer as to any of the work to be
performed by it hereunder, the City may, at its option, perform the work and the
Developer shall promptly reimburse the City for any expense incurred by the City,
provided the Developer is first given notice of the work in default, not less than 48 hours
in advance. This Agreement is a license for the City to act, and it shall not be necessary
for the City to seek a court order for permission to enter the land. When the City does
any such work, the City may, in addition to its other remedies, levy the cost in whole or
in part as a special assessment against the Developer's Property. Developer waives its
rights to notice of hearing and hearing on such assessments and its right to appeal such
assessments pursuant to Minnesota Statutes, Section 429.081.
24. Land Exchan�e. The City is the owner of land within the Subject Property described on
ATTACHMENT THREE (the "City Property"). Arcon will convey Outlot D in the
Subject Property to the City in exchange for the City Property in accordance with the
Land Exchange Agreement attached hereto as ATTACHMENT FOUR. No work on the
Subject Property shall commence or continue until such land exchange has been
completed.
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25. Miscellaneous.
A. The Developer represents to the City that the development of the Subject Property, the
subdivision and the plat comply with all city, county, metropolitan, state and federal
laws and regulations including, but not limited to: subdivision ordinances, zoning
ordinances and environmental regulations. If the City determines that the
subdivision, or the plat, or the development of the Subject Properiy does not comply,
the City may, at its option, refuse to allow construction or development work on the
Subject Property until the Developer does comply. Upon the City's demand, the
Developer shall cease work until there is compliance.
B. Third parties shall have no recourse against the City under this Agreement.
C. Breach of the terrns of this Agreement by the Developer shall be grounds for denial of
building permits, including lots sold to third parties.
D. If any portion, section, subsection, sentence, clause, paragraph or phase of this
Agreernent is for any reason held invalid, such decision shall not affect the validity of the
remaining portion of this Agreement.
E. If building permits are issued prior to the completion and acceptance of public
improvements, the Developer assumes all liability and costs resulting in delays
in completion of public improvements and damage to public improvements caused
by the City, the Developer, its contractors, subcontractors, material men, employees,
agents or third parties.
F. The action or inaction of the City shall not constitute a waiver ar amendment to the
provisions of this Agreement. To be binding, amendments or waivers shall be in
writing, signed by the parties and approved by written resolution of the City
Council. The City's failure to promptly take legal action to enforce this Agreement
shall not be a waiver or release.
G. This Agreement shall run with the land and may be recorded against the title to the
Subject Properiy. The Developer shall take such steps, including execution of
amendments to this Agreement, as are necessary to effect the recarding hereof. After
the Developer has completed the work required of it under this Agreement, at the
Developer's request, the City will execute and deliver to the Developer a release.
H. Each right, power or remedy herein conferred upon the City is cumulative and in
addition to every other right, power or remedy, express or implied, now or
hereafter arising, available to the City, at law or in equity, or under any other
agreement, and each and every right, power and remedy herein set forth or
otherwise so exciting may be exercised from time to time as often and in such
order as may be deemed expedient by the City and sha11 not be a waiver of the right
to exercise at any time thereafter any other right, power or remedy.
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I. The Developer may not assign this Agreement without the written permission of
the City Council.
26. Notices. Required notices to the Developer shall be in writing, and shall be either
hand delivered to the Developer, its employees or agents, or mailed to the
Developer by registered mail at the following address:
Mr. Mike Suel
D.R. Horton
20860 Kenbridge Court, Suite 100
Lakeville, MN 55044
Required notices to Arcon shall be in writing, and shall be either hand delivered to
Arcon, its employees or agents, or mailed to Arcon by registered mail at the
following address:
Mr. Scott Johnson
Arcon Development, Inc.
744 Southcross Drive West, Suite 103
Burnsville, MN 55306
Notices to the City shall be in writing and shall be either hand delivered to the
City Administrator, or mailed to the City by registered mail in care of the City
Adminisirator at the following address:
City Administrator
Rosemount City Hall
2875 145�' Street West
Rosemount, Minnesota 55068
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July 2011
IN WITNESS WHEREOF, the parties have hereunto set their hands the day and year
first above written.
CITY OF ROSEMOUNT
By:
Wlliam H. Droste, Mayor
By:
Amy Domeier, City Clerk
STATE OF MINNESOTA
ss.
COUNTY OF DAKOTA
The foregoing instrament was acknowledged before me this day of
2011, by William H. Droste, Mayor, and Amy Domeier, City Clerk, of the City of Rosemount, a
Minnesota municipal corporation, on behalf of the corporation and pursuant to the authority
granted by its City Council.
Notary Public
11 389490v3 CLL RS22U-285
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D.R. HORTON, INC. MINNESOTA
B y
Its
By:
Its
STATE OF MINNESOTA
ss.
COUNTY OF DAKOTA
The foregoing instrument was acknowledged before me this day of
2011, by and of D.R.
Horton, Inc. Minnesota, a Delaware corporarion, on behalf of the corporation.
Notary Public
ARCON DEVELOPMENT, INC.
By:
Its
By:
Its
STATE OF MINNESOTA
ss.
COUNTY OF DAKOTA
The foregoing instrument was acknowledged before me this day of
2011, by and of Arcon
Development, Inc., a Minnesota corporation, on behalf of the corporation.
Notary Public
12 389490v3 CLL RS220-285
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Drafted By:
City of Rosemount
2875 145th Street West
Rosemount, MN 55068
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Prestwick Place 2nd
EXHIBIT B(Page 1 of 2)
Letter of Credit for Develo er Im rovements due before si ned lat is released
No. Item Cost 110% Calculation
1 Gradin and Erosion Control 48,230 53,053 $3500/acre x 13.78 acres*
2 Pond Restoration and Erosion Control Removal 50,000 55,000 Minimum $25,000
3 Surve Monumentation 14,500 t5,950 $500/lot x 291ots
4 Retainin Wall n/a
5 Landsca in 27,360 30,096 Per Ci Planner EZ
6 Street Li hts 32,000 35,200 8 li hts x$4000/li ht
7 Buffer Monumentation 700 770 14 si ns x$50/si n
8 Park E ui mendIm rovements n/a
9 Wetland Restoration/Miti ation n/a
10 Wetland Monitorin n/a
Total 172 790 190 069
*Total plat area Outlot B— Outlot C
Ci Fees due with si ned a reement
No. Item Cost Calculation
1 En ineerin Review Fees 10,000 Ci En ineer Estimation
2 En ineerin Desi n and Construction Admin Fees 119,000 20% of Estimated Construction Cost
3 Attome Fees 5,000 Estimate
4 5% Cit Fees 29,750 5% of Estimated Construction Cost
5 Street Li ht Ener Cost 2,304 8 li hts x 24 months x$12/month
6 Seal Coatin 15,300 $1.70/SY x 9000 SY**
Total 181354
**Streets A, B, C and %z of 1045 feet of Connemara
Develo ment Fees due before si ed lat is released
No. Item Cost Calculation
1 Park Dedication 98,600 29 units x.04 x$85,000
2 GIS Fees 1,740 $60/unit x 29 units, or $120/acre
3 Stormwater Pondin Fee n/a
Total 100,340
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EXHIBIT B(Page 2 of 2)
Totats
Block Lots Units Block Lot Units S FT Acres
1 19 19 1 1 1 12,149.7 0.28
2 8 8 1 2 1 9,428.0 0.22
3 2 2 1 3 1 9,553.5 0.22
0 0 1 4 1 9,661.5 0.22
0 0 1 5 1 9,681.6 0.22
0 0 1 6 1 12,809.5 0.29
Total 29 29 1 7 1 14,871.8 0.34
1 8 1 11,510.3 0.26
Total Plat Area 119.10 acres 1 9 1 4,669.5 0.22
Park Dedication 0.00 acres 1 10 1 10,061.3 0.23
Dedicated ROW 3.48 acres* 1 ll 1 13,221.1 0.30
Future Plat Area 105.32 acres** 1 12 1 45,054.1 1.03
Ponding to HWL 2.72 acres 1 13 1 59,950.7 138
1 14 1 18,774.7 0.43
1 15 1 11,927.5 0.27
Streets A and B, Akron, Connemara 1 16 1 10,977.7 0.25
OUTLOTS B and C 1 17 1 11,139.0 0.26
1 18 I I0,608.5 0.24
1 19 1 13,418.0 031
2 1 1 10,150.0 0.23
2 2 1 9,456.8 0.22
2 3 1 11,708.5 0.27
2 4 1 12,454.2 0.29
2 5 1 16,221.6 0.37
2 6 1 21,976.3 0.50
2 7 1 16,6843 038
2 8 1 11,647.8 0.27
3 1 1 12,804.8 0.29
3 2 1 11,061.0 0.25
AKRON AVE. 44,886.3 1.03
CONNEMARA TRL 19,112.2 0.44
STREET A& C) 61,327.6 1.41
STREET B 26,205.8 0.60
OUTLOT A 10,049.7 0.23
OUTLOT B 1,413,530.8 32.45
OUTLOT C 3,174,077.1 72.87
Bounda Check 5,187,830.7 119.10
15 389490v3 CLL RS220-285
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PRES T W/CK PLA CE 2ND ADD/T/ON ATTACHMENT oNE
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PRES T W/CK PLA CE 2ND ADD/TION ATTACHMENT ONE
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ATTACHMENT TWO
PETITION AND WAIVER AGREEMENT
This Agreement made this day of 2011, by and between the
CITY OF ROSEMOUNT a Minnesota municipal corporation ("City"), and D.R. HORTON, INC.
MnvlvESOTA, a Delaware Corporation ("Owner").
WITNESSETH:
WHEREAS, the Owner is the fee owner of certain real property (the "Subject Property")
located in the City, the legal description of which is set forth on ExxtB�T A, attached hereto and
hereby made a part hereof; and
WHEREAS, the Owner desires to have certain public improvements constructed to serve
the Subject Property generally described as Prestwick Place 2 and as more specifically described
in Exx�B�T B, attached hereto and hereby made a part hereof (hereinafter referred to as the
"Improvement Project"); and
WHEREAS, the Owner wishes for the City to conshuct the Improvement Project without
notice of hearing or hearing on the Improvement Project, and without notice of hearing or hearing
on the special assessments levied to finance the Improvement Project, and to levy $977,314 of the
cost of the Improvement Project, and $180,311 in public utility tiunk area fees against the Subject
Property as outlined in EXHIBIT D attached hereto and hereby made a part hereof; and
WHEREAS, the City is willing to construct the Improvement Project in accordance with the
request of the Owner and without such notices or hearings, provided the assurances and covenants
hereinafter stated are made by the Owner to ensure that the City will have valid and collectable
special assessments as they relate to the Subject Property to finance the costs of the Improvement
Project and to pay trunk area fees; and
1 G:�ENGPR0.1�425V'etition and waiver 425.docx
WHEREAS, were it not for the assurances and covenants hereinafter provided, the City
would not construct the Improvement Project or levy such assessments without such notices and
hearings and is doing so solely at the behest, and for the benefit, of the Owner.
NOW, THEREFORE, ON THE BASIS OF THE MUTUAL COVENANTS AND
AGREEMENTS HEREINAFTER PROVIDED, IT IS HEREBY AGREED BY AND BETWEEN
THE PARTIES HERETO AS FOLLOWS:
1. The Owner hereby petitions the City for construction of the Improvement Project.
2. The Owner represents and warrants that it is the owner of 100 percent of the Subject
Property, that it has full legal power and authority to encumber the Subject Property as
herein provided, and that as of the date hereof, it has fee simple absolute title in the Subject
Property, which is not subject to any liens, interests or encumbrances, except as listed on the
attached Exx�s�T C.
3. The Owner requests that $977,314 of the cost of the Improvement Project be assessed
against the Subject Property. The Owner further requests that trunk area fees for sanitary
and storm sewer and water in the amount of $180,311 be assessed against the Subject
Property.
4. The Owner waives notice of hearing and hearing pursuant to Minn. Stat. Section 429.031,
on the Improvement Project and notice of hearing and hearing on the special assessments
levied to finance the Improvement Project and trunk area fees pursuant to Minn. Stat.
Secrion 429.061, and specifically requests that the Improvement Project be constructed and
special assessments levied against the Subject Property for the Improvement Project and for
trunk area fees without hearings.
5. The Owner waives the right to appeal the levy of the special assessments in accordance with
this Agreement pursuant to Minn. Stat. Section 429.081, or reapportionment thereof upon
land division pursuant to Min. Stat. Secrion 429.071, Subd. 3, or otherwise, and further
specifically agrees with respect to such special assessments against the Subject Property or
reapportionment that:
a. Any requirements of Minn. Stat., Chapter 429 with which the City does not comply
are hereby waived by the Owner;
b. The increase in fair market value of the Subject Property resulting from construction
of the Improvement Project will be at least equal to the amount specified in
paragraph 3, and that such increase in fair market value is a special benefit to the
Subject Property; and
2 G:�ENGPRO.I�425�Petition and waiver A25.docx
c. Assessment of amount specified in paragraph 3 against the Subject Property is
reasonable, fair and equitable.
6. Special assessments for the Improvement Project and for trunk area fees will be levied on a
per lot basis against all lots in the plat, payable over five (5) years and bearing interest at a
rate of two points over the bond rate if bonds are issued by the City for the Improvement
Project, or two points over a current bond rate as determined by the City's fmancial
consultant. To secure payments of the special assessments, the Owner or its assignees will
provide to the City a letter of credit in the amount of Six Hundred Ninety-Four Thousand,
Five Hundred Seventy-Five Dollars ($694,575), which is 60% of the total assessment
amount. The bank and fortn of the letter of credit or other security shall be subject to the
approval of the City Administrator. Such letter of credit shall be maintained in effect until
all assessments are paid in full. As assessments are paid, the letter of credit may be reduced
or replaced by substitute letters of credit, not more often than once every twelve months, to
an amount that is not less than the amount of the unpaid assessments. In the event special
assessments are not paid when due, the City may draw on the letter to pay such special
assessments. Special assessments against each lot must be paid in full prior to issuance of a
building permit for that lot.
7. Owner represents and warrants that the Subject Property is not so classified for tax purposes
as to result in deferral of the obligation to pay special assessments; and Owner agrees that it
will take no action to secure such tax status for the Subject Property during the term of this
Agreement.
8. The covenants, waivers and agreements contained in this Agreement shall bind the
successors and assigns of the Owner and shall run with the Subject Property and bind all
successors in interest thereof. It is the intent of the parties hereto that this Agreement be in a
form that is recordable among the land records of Dakota County, Minnesota; and the
parties agree to make any changes to this Agreement that may be necessary to effect the
recording and filing of this Agreement against the title of the Subject Property.
9. This Agreement shall ternlinate upon the final payment of all special assessments levied
against the Subject Property regarding the Improvement Project and trunk area fees, and the
City shall thereupon execute and deliver such documents, in recordable form, as are
necessary to extinguish its rights hereunder.
3 G:�ENGPRO.T�425�Petirion and waiver 425.docx
IN WITNESS WHEREOF, the parties have set their hands the day and year first written
above.
CITY OF ROSEMOUNT
By:
William Droste, Mayor
And by:
Amy Domeier, City Clerk
STATE OF MINNESOTA
ss.
COUNTY OF DAKOTA
The foregoing instrument was aclrnowledged before me this day of
2011, by William Droste and Amy Domeier, the Mayor and Clerk, respectively, of the City of
Rosemount, Minnesota, a municipal corporation under the laws of the State of Minnesota, on behalf
of the City.
Notary Public
4 G:�ENGPRO.T�425�Petition and waiver 425.docx
OWNER
By:
Its:
And by:
Its:
STATE OF MINNESOTA
ss.
COUNTY OF
The foregoing instrument was acknowledged before me this day of
2011, by and the
and respectively, of D.R.
HoRTOtv, INC. MINNESOTA, a Delaware corporation, on behalf of the corporation.
Notary Public
5 G:�ENGPROJ�4251Petition and waiver 425.docx
PRES T W/CK PLACE 2ND ADDlT/ON ATTACHMENT TWa,
EXHIBIT A
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By
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Professional Servi<es, Inc.
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----CONNEMARA TRAIL professional5ervices, Inc.
ExxisiT B
Description of the Improvements
The following improvements, known as City Project 425, shall be designed, inspected,
surveyed and administered by the City, and installed in the Subject Property by a Contractor
selected by the City through the public bidding process:
A. Sanitary Sewer
B. Watern�ain
C. Storm Sewer
D. Streets
E. Sidewalks/Pathways
Contracts shall provide for construction in accordance with plans and specifications prepared
by the City or its consultants.
The City will obtain any necessary permits from the Minnesota Pollution Control A.gency,
Department of Health and all other agencies before proceeding with construction.
G:�ENGPRO.T�425�Petition and waiver 425.docx
EXH[BIT C
Liens, Interests or Encumbrances
G:�ENGPROJ�425�Petition and waiver 425.docx
ExxisiT D
Item Cost Calculation
Estimated Pro'ect Cost for Prestwick Place 2" $818,250 $654,500 Construction +$163,750 Overhead
Connemara Trail Assessment west of Akron $155,637
Akron Avenue Assessment $3,427
Total Pro'ect Costs $977,314
Storm Sewer Trunk Char e $75,927 $6865/net develo able acre x 11.06 acres
Sanit Sewer Trunk Char e $14,814 $1075/acre x 13.78 acres
Watermain Trunk Char e $89,570 $6500/acre x 13.78 acres
Total Trunk Char es $180,311
Total plat area Outlot B- Outlot C- Ponding to HWL (2.72)
Total plat area Outlot B- Outlot C
G:�ENGPROJ�425�Petition and waiver 425.docx
Exhibit D
Prestwick Place Cost Sharing
Acre Cunnemarn 7'rail Connemnra
Trnct Owner (Fe. sibility) �E A ti t D) (Developable Akron Avenue CR 42 Access Wesl of Akron Trail Easf of Streef 4 Street 8 Street 9 Street 14 Street 16 Street 17 Total Assessment
PlatteA Area Avemie Akron Avenne
PEMTOM I.AND COMPANY FIRST
1:�' isasa 15.68 14]4 $3,842 $0 $35072 $107,035 $50,198 $193,39? $l34,705 $0 $0 $0 $524,244
CITIZENS NATIONAL 6ANK
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��`��.USHOMECORPORATION 28329 27.34 2829 $7041 $0 $6d,275 $196,157 $50,198 $201,638 $IOQ239 $287,789 $0 $0 $907,336
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A6RON 42 L,LC 20.146 19.18 19.18 $19,0'_6 $162,880 $7.09 012 $0 $0 $0 $0 $334,31 I $0 $0 $725,229
r� DA60TA COUN'IY COMMUNITI'
�-���"���;°�DEVGLOPMENTAGENCY 19 7 8 ��-�5 $A,90R $0 $4d,R06 $136,740 $0 $0 $0 $0 $270,310 $207,R22 $664,586
�e� PEMTOM LAND COMPANY 8 FIRST
PI�'"� 7912 791 $1,9G7 $0 $17.951 $54,785 $0 $0 $0 $0 $451.0)9 $0 $525,802
-..Y. �;I CITILENS NA9'IONAL BANK
w US HOME CORPORATION 15.072 Ii07 $3,746 $0 $34,196 $104,362 $0 $0 $0 $0 $221,A01 $208,038 $571,74A
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AKRON42LLC 29513 29.52 $19,017 $371,470 $0 $595,187 $0 $0 $0 $0 $0 $0 $988,674
rY .g .4RCON DBVELOPMENT INC 16217 16.22 1G2^_ $4,526 $0 $205,531 $0 $0 $0 $0 $0 $0 $0 $210,056
4RCON DEVBLOPMENT INC. 117.096 117.13 11738 $32,b98 $0 '�:51,484,049 $0 $0 $0 $0 $0 $0 $0 $i,516,928
TOTAL 269.49 195..55 265.06 $96,751 $534,350 $2,U94,892 $1,197,267 $100,396 $395,030 $234,943 $622,100 $942,810 $a15,860 $6,639,399
Tract 7B: ARCON DEVELOPMENT INC.
Acre" Connemara Trail Connemara
Tract Development (Fe 9'I� )ity) (E. h ti t D) (Developable Akron Avenue CR 42 Access W est of Akron Trail East of Street 4 Street 8 Street 9 Sheet 14 Street 16 Stree[ 17 Total Assessment
Plntted Aren Avenue Akron Avenue
COST PER ACRF. $278 $0 $12 643 $0 $0 $0 $0 $0 $0 $0 $12,922
PRESTWICKPLACE2NDADDITION 1231 $3,427 $0 $155,637'� $0 $0 $0 $0 $0 $0 $0 $ISQ064
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FUTURG FINAL PLAT 105.07 $?9 <51 $0 $1,328,41? $0 $0 $0 $0 $0 $0 $0 $1,357,664
"fOTAL OAO OAU 117.38 $3?,67R $U $1,4Ri,U49 $0 $0 $0 $0 $0 $0 $0 $1,516,728
Developable Platted Area Exhibit D
Prestwick Place Plat
Tract 4A
Outlot M 19.75
Total Tract 4A 19.75
Tract 4B
Outlot N 7.91
Total Tract 4B 7.91
Tract 5
Outlot L 15.07
Total Tract 5 15.07
Tract 6
Outlot J 28.57
Outlot O 0.95
Total Tract 6 29.52
Tract 7A
Outlot C 8.02
Outlot D 8.20
Total Tract 7A 16.22
Prestwick Place 2nd Addition
Tract 7B
Prestwick Place 2nd Addition: Lots 10.07
Prestwick Place 2nd Addition: Street A& C 1.41
Prestwick Place 2nd Addition: Street B 0.60
Prestwick Place 2nd Addition: Outlot A 0.23
Connemara Trail (0.44 acres) 0.00
Akron Avenue (1.03 acres) 0.00
Prestwick Place 2nd Addition Subtotal 12.31
Outlot B 32.45
Outlot C- 0.25 (Outlot D: Future City Well) 72.62
Outlot D: Future City Well (0.25 acres) 0.00
Total Tract 7B 117.38
Prestwick Place 3rd Addition
Tract 1
Outlot A 14.54
Outlot C 0.20
Total Tract 1 14.74
Tract 2
Prestwick Place 3rd Addition: Lots 8.13
Prestwick Place 3rd Addition Street A 0.84
Prestwick Place 3rd Addition Street B 0.85
Prestwick Place 3rd Addition: Outlot B(5.80) Park (3.51) 2.29
Prestwick Place 3rd Addition: Connemara Trail 0.01
1/2 Street 14 (Prestwick Place Outlot H) (1.04 acres) 0.00
Prestwick Place 3rd Addition Subtotal 12.12
Outlot D 16.17
Total Tract 2 28.29
Tract 3
Prestwick Place Outlot I 19.18
1/2 Street 14 (Prestwick Place Outlot H) (1.04 acres) 0.00
Total Tract 3 19.18
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COST SHARING AGREEMENT Exhibit D
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ATTACHMENT FOUR
LAND EXCHANGE AGREEMENT
This Land Exchange Agreement ("Agreement") is made this day of 2011, by and
between the City of Rosemount, a Minnesota municipal corporation ("City"), and Arcon Development, Inc., a
Minnesota corporation ("Arcon").
RECITALS
The City owns certain property located in Rosemount, Minnesota, which is legally described on Exhibit
A attached hereto ("City Parcel").
Arcon is the fee owner of certain property located in Rosemount, Minnesota, which upon recording of
the plat of Prestwick Place Second Addition, Dakota County, Minnesota will be legally described as Outlot D,
Prestwick Place Second Addition, Dakota County, Minnesota ("Outlot D").
The parties wish to exchange the City Parcel for Outlot D(the "Land Exchange") in connection with the
subdivision and platting of Prestwick Place Second Addition.
AGREEMENT
1. OFFER/ACCEPTANCE. In consideration of the mutual agreements herein contained, Arcon offers and
agrees to convey to City Outlot D and pay to City the additional sum of $50,683.91, and City offers and
agrees to convey to Arcon the City Parcel, together with all appurtenances, and for no additional monetary
compensation. Each Party accepts the parcels and sums so offered.
2. VALUE FOR STATE DEED TAX PURPOSES: For purposes of determining values for State Deed
Tax, the parties agree that the value of the City Parcel is $62,673.91 and the value of Outlot D is
$11,990.00.
3. DEED/MARKETABLE TITLE: Subject to performance by Arcon, City agrees to execute and deliver a
Quit Claim Deed conveying marketable title to the City Parcel to Arcon, subject only to the following
exceptions:
A Building and zoning laws, ordinances, state and federal regulations.
B. Reservation of minerals or mineral rights to the State of Minnesota, if any.
C. Utility and drainage easements that do not interfere with Arcon's intended use of the property.
Subject to performance by City, Arcon agrees to execute and deliver a Quit Claim Deed conveying
marketable title to Outlot D to City, subject only to the following exceptions:
A. Building and zoning laws, ordinances, state and federal regulations.
B. Reservation of minerals or mineral rights to the State of Minnesota, if any.
C. Utility and drainage easements that do not interfere with City's intended use of the property.
389489v6 CLL RS220-285
1
4. DOCUMENTS TO BE DELIVERED AT CLOSING. In addition to the Quit Claim Deed required by
paragraph 3 above, City shall deliver to Arcon:
A. Standard form Affidavit of Seller.
B. Well disclosure certificate.
C. Such other documents as may be reasonably required by Arcon's title examiner or title insurance
company.
In addition to the Quit Claim Deed required by paragraph 3 above, Arcon shall deliver to City:
A. Additional purchase price of $50,683.91.
B. Standard form Affidavit of Seller.
C. Well disclosure certificate.
D. Such other documents as may be reasonably required by City's title examiner or title insurance
company, including, but not limited to, the fmal plat of Prestwick Place Second Addition, in
recordable form and all fees and taxes necessary for recording of said plat.
5. REAL ESTATE TAXES AND SPECIAL ASSESSMENTS.
A. Arcon will pay all real estate taxes due and payable in the year of closing for Outlot D. No taxes are
due in 2011 on the City Parcel.
B. Arcon shall pay at or before closing the unpaid balance of all levied special assessments on Outlot D
and the City shall pay at or before closing the unpaid balance of all levied special assessments on
the City Parcel.
C. Each parly shall assume all special assessments against the property to be conveyed to it that are
levied after the date of closing.
6. SURVEY, SUBDIVISION AND MARKETABILITY OF TITLE. The City may, at its own expense,
conduct a survey of Outlot D. Within a reasonable time after execution of this Agreement, Arcon shall
furnish City a commitment for title insurance covering Outlot D, in the amount of $11,990. Within a
reasonable time after execution of this Agreement, Arcon shall also obtain a commitment for a policy of
title insurance covering the City Parcel. Each party shall have fifteen (15) business days after receipt of
its title commitment to examine the same and to deliver written objections to title, if any, to the other
party. Each party shall have twenty (20) days after receipt of written objections to cure title defects, at
the transferor's cost. In the event that title to either parcel cannot be made marketable by the transferor
by the Closing Date, then, at the option of the transferee, this Agreement shall be null and void.
7. ENVIRONMENTAL MATTER5.
A. Each Party warrants that its properiy has not been used for production, storage, deposit or
disposal of any toxic or hazardous waste or substance, petroleum product or asbestos product
during the period of time the Party has owned the property. The Parties further warrant that the
Parties have no knowledge or information of any fact that would indicate its property was used
for production, storage, deposit or disposal of any toxic or hazardous waste or substance,
389489v6 GLL R5220-285
2
petroleum product or asbestos product prior to the date the Party purchased its property.
Notwithstanding the above, the Parties' warranties regarding petroleum products do not preclude
the presence of heating oil or other similar products used as a heating fuel for their respective
property or above-ground gasoline or oil used for routine maintenance of their respective
property but the Parties do warrant that if there was a fuel tank on their respective property used
for the storage of heating oil or other similar product, the Party has no knowledge of any leak in
the tank or contamination caused thereby.
B. Each Party and its agents shall have the right to enter upon the other's property after the date of
this Agreement for the purpose of inspecting and surveying the property it will acquire and
conducting such environmental examination and tests as it deems necessary. Each Party agrees
to indemnify the other, to the extent such indemnification is legally authorized, against any liens,
claims, losses, or damage occasioned by the other Party's exercise of its right to enter and work
on the property. Each Party agrees to provide the other Party with a copy of any report as a
result of such examination and tests. If such environmental examination results in a finding that
there are or may be pollutants or contaminants on the property, either Party may terminate this
Agreement, at any time prior to the Closing Date.
8. CLOSING DATE. The closing of the exchange of the properties shall take place at the time of the
execution and recording of the plat of Prestwick Place Second Addition, but no later than September 15,
2011. The closing shall take place at City's offices, City Hall, Rosemount, Minnesota, or such other
location as is mutually agreed upon by the parties.
9. CLOSING COSTS AND RELATED ITEMS. Arcon will be responsible for:
A. Payment of fees charged in connection with title commitments for the City Parcel and Outlot D;
B. Recording fees of instruments required to establish marketable title in Outlot D;
C. The premium for title insurance on Outlot D;
D. Recording fee for the deed on Outlot D and the City Parcel;
E. State Deed Tax and conservarion fee on the City Parcel Deed and Outlot D Deed;
F. The premium for title insurance on the City Parcel if Arcon elects to purchase such insurance.
City will be responsible for:
A. Recording fees of instruments required to establish marketable title in the City Parcel.
Unless otherwise provided herein, Arcon sha11 be responsible for the payment of all other closing costs and
fees, including attorneys' fees and costs.
10. POSSESSION/CONDITION OF PROPERTY.
A. Possession. The Parties agree to deliver possession not later than date of Closing ("Date of
Possession").
B. Condition of Property/No Personal Property. Each Party shall deliver possession of its
respective Parcel to the other Party on the Date of Possession in the same condition as the Parcel
existed on the date of this Agreement. Each Party acknowledges the parcels are vacant land and
there is no personal property included in this exchange.
389489v6 CLL RS220-285
3
11. DAMAGES TO REAL PROPERTY. If the City Parcel or Outlot D is damaged prior to closing, City or
Arcon may rescind this Agreement by notice to the other Party within twenty-one (21) days after
notification of such damage, during which 21-day period City or Arcon may inspect the real property.
12. DISCLOSURE; INDIVIDUAL SEWAGE TREATMENT SYSTEM. Each party certifies to the other
that it does not know of any individual sewage treatment systems on the property it will transfer.
13. CONDITION OF SUBSOIL AND GROUND WATER. Each Party hereby warrants to the other that
during the time it has owned the properiy contemplated in this Agreement, there have been no acts or
occurrences upon the property that have caused or could cause impurities in the subsoil or ground water of
the property or other adjacent properties. This warranty shall survive for a period of two years following
the date of Closing.
14. WELL DISCLOSURE. Each Party certifies to the other that it does not know of any wells on the property
it will transfer.
15. SELLER'S WARRANTIES. Each Party warrants that there has been no labor or material furnished to its
property for which payment has not been made. Each Pariy warrants that there are no present violations of
any restrictions relating to the use or improvement of its respective property. These warranties shall survive
the closing of this transaction.
16. RELOCATION BENEFITS. Arcon represents and asserts to City that the transfer of Outlot D to the City
will not cause Arcon or any other person or entity to be a displaced person within the meaning of Minnesota
Statutes, Section 117.50, Subd. 3, and that Arcon is therefore not entitled to any relocation assistance,
services, payments or benefits under Minnesota Statutes, Section 117.52.
17. BROKER COMMISSIONS. Arcon and the City represent and warrant to each other that there is no
broker involved in this transaction with whom either has negotiated or to whom either has agreed to pay a
broker commission. Arcon agrees to indemnify City far any and all claims for brokerage commissions or
finders' fees in connection with negotiations for exchange of the City Parcel and Outlot D arising out of
any alleged agreement or commitment or negotiation by Arcon or by D.R. Horton, Inc., to the extent such
indemnification is authorized by law; and City agrees to indemnify Arcon for any and all claims for
brokerage commissions or finders' fees in connection with negotiations far exchange of the City Parcel and
Outlot D arising out of any alleged agreement or commitment or negotiation by City, to the extent such
indemnification is authorized by law.
18. NO MERGER OF REPRESENTATIONS, WARRANTIES. All representations and warranties
contained in this Agreement shall not be merged into any instruments or conveyance delivered at Closing,
and the parties shall be bound accordingly.
19. ENTIRE AGREEMENT; AMENDMENTS. This Agreement constitutes the entire agreement between
the parties and no other agreement prior to this Agreement shall be effective except as expressly set forth or
incorporated herein. Any purported amendment shall not be effective unless it shall be set forth in writing
and executed by both parties or their respective successors ar assigns.
20. BINDING EFFECT; ASSIGNMENT. This Agreement shall be binding upon and inure to the benefit of
the parties and their respective heirs, executors, administrators, successors and assigns. The Parties shall
not assign its rights and interest hereunder without notice to the other Party.
389489v6 CLL RS220-285
4
21. NOTICE. Any notice, demand, request or other communication that may or shall be given ar served by
the parties shall be deemed to have been given or served on the date the same is deposited in the United
States Mail, registered or certified, postage prepaid and addressed as follows:
a. If to Arcon: Arcon Development, Inc.
ATTN: Mr. Scott Johnson
744 Southcross Drive West, Suite 103
Burnsville, NIN 55306
c. If to City: City of Rosemount
AT"TN: City Administrator
2875 145�` Street W
Rosemount, MN 55068
with a copy to: Charles L. LeFevere, Esq.
Kennedy Graven, Chartered
470 U.S. Bank Plaza
200 South Sixth Street
Minneapolis, MN 55402
(612)337-9215
22. SPECIFIC PERFORMANCE. This Agreement may be specifically enforced by the parties, provided
that any action for specific enforcement is brought within six months after the date of the alleged breach.
This paragraph is not intended to create an exclusive remedy for breach of this agreement; the parties
reserve all other remedies available at law or in equity.
23. COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which shall
constitute one and the same instrument.
24. RECITALS. The Recitals set forth in the preamble to this Agreement and the Exhibits attached to this
Agreement are incorporated into this Agreement as if fully set forth herein.
389489v6 CLL RS220-285
5
IN WITNESS WHEREOF, the parties have executed this agreement as of the above date.
ARCON DEVELOPMENT, INC.
CITY OF ROSEMOUNT
By:
Bill Droste, Mayor
By:
Amy Domeier, City Clerk
389489v6 CLL RS220-285
6
PRES T W/CK PLA CE 2ND ADD/T/ON L�D EXCHANGE
AGREEMENT
EXHIBIT A
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Print Preview page 1 Qf 1
Dakota Coanty,ll�IN
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Owner N�trne Gity Of R osemount Garag Sq Ft j
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2 1 Value $38 200
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5�G63 Value
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�-o��i Estimated �38,204
Common Name V�lue
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Property 1�3925AKR4N e
Address �VE Speciat As„ess�neats �w0
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Prop�riy City ROS��tOUPJT �i Total Property Tax ;$p m���r �e r_
Us� �xemp} Da otS ate Monday, Au�ust 15, 2Q05 �e_. _m..q
Homestead_ �SateValue� f�155,00� _e�. a�_� e. �_A
_,_�.a �e.a..� a m a _A s ,�_�,b
Ye�r 6uiit Acres 4.52
Building Type School District 196 a d .bu e
��s� ��a,�, e_e� _.���_e .a m
8uitding Style Wat�rshed Drstrict VERMII.LION RIVEf2
e.� eT,.�, _,e,u�a_
Foundation Sq j
Ptat Name S�CTIQN 27 TWP� 1 i 5 RANG� 19
_.v m.�b� M e m �„e, e _,a a _�o_s
�inished Sq Ft Tax Descrr"pt+on ����8.71 FT 0� N 945.2A FT O� E 208.71 FT 4F
�N 7120FNN714
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Fra��e tot and Bloch ��OD52Q 27t 9 519
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Badreoms
Disclaimer, (�ta� and parcei data are betieved fo bE accur�,fe, �iut accuracy is nct
�uaranteed. 7his is not a fec�al document and sho��ld not be substitut�d ior a title search, 5
appraisat, survey, ar Ear zoninc� verification. 'f inch 161 feet
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�#�kota Cau�t�, MN
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ParcellU 34f72 7C1C}3109 0 B�titrooms
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C}wn�r Name G �Ey {7fi Rosemcaunt g Garac�e Sc� Ft
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Jt�inf Owrrer tlther Gara�e
04vner Address 2875 145Th St W Mrsc Burfdrng
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OwnerAdr�ress E�timat�d L�r�d $3fi,2a4
2 Vafue
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Ros�mo+�r�+. Mn [Esti�rtafed d_� e .z,._�
CityfStatel�ip ��G6£� U�lu�
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Tot�t E`stimated
Coma�on Narrre i Vafu� �38,20�
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Ad� ess i 41 �5 AKRC�P� AVE i Special Assessments 50
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Property City RC}SEMOU�IT Tofa! Properiy Fax �$0
Use Exer�pt_ y I�ate af �afe S��urd�y J�ne 04 1394
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Bustr9ing Typ� Sc�roo! Dfctrt�t 1�6
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Buit�ing S1yte Ndatersh��t(?isfrtet VERIt�EL�tC�hl RtVE[2
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��untfatiQn �q ��tat l�la�ne SECI`I�7N 27 TW€4 115 RAfV�E 19
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�inished Sq Ft i Tax I�escripti�rx S 100 �T C?F [V 1 Q45,25 F7 OF E 2d8.71 FT OF h!
,1l2 t?F N�! 1I�
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FP�me Lat ancf B1cCk Q�44�,0 271151
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Bedra�ams
l,Jiscl��mer: tvlap and parcel data are beHeved #o be accurate, but a�curacy is nai Sr�4�
�uaranteed. This is nof a le�al cfacum�nt �r�d should nat be substitut�d far a title se�rch, 1 inch 161 feef
�ppraisal, surve�, cr ��r zoning veri(ic�tiqn.
lltt�:l��is.c�?.clakc�ta,i�z�.u�?j�°ebsit�,`d��c��ar�et�is;`�rii�tPre��ie��t.as��x�I't•intC}��tI)�t�=L)�krata 07/20/2t?11