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Home My WebLink AboutHRA Resolution No. 2007-01 Termination of Developers Agree & Easement Releases 5000 France Co RESOLUTION NO. 2007-01 tNa. i . A RESOLUTION APPROVING TERMINATION OF DEVELOPER'S AGREEMENT AND o RELEASES OF EASEMENTS FOR 5000 FRANCE COMPANY WHEREAS, the Housing and Redevelopment Authority of Edina, Minnesota (the "HRA") entered into that certain Developer's Agreement dated September 20, 2005, recorded September 23, 2005, as Document No. 8659950 in the office of the County Recorder in and for Hennepin County, Minnesota (the "Developer's Agreement") by and among the City of Edina (the "City"), the HRA, and 5000 France Company (the "Company") with respect to the property (the "Property") to be developed by the Company at the southwest corner of 50th and France in Edina, which Property is more specifically described in the Developer's Agreement; WHEREAS, in connection with the aforementioned development of the Property, the City and the HRA conveyed certain property to the Company by virtue of quit claim deeds (the "Deeds") and also reserved certain easements in favor of the City and the HRA in the Deeds; WHEREAS, the Company has substantially completed its development of the Property and has requested that the City and the HRA terminate the Developer's Agreement and release the easements reserved in the Deeds; and WHEREAS, the HRA has heretofore executed and delivered that certain Termination of Developer's Agreement and that certain Release of Easements in the forms attached hereto in exchange for performance by the Company of certain obligations. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the HRA, that the Chair and the Secretary of the HRA are authorized, for and on behalf and in the name of the HRA to execute and • deliver the Termination of Developer's Agreement and the Release of Easements attached hereto; FURTHER RESOLVED, that the Chair and the Secretary are hereby authorized, for and on behalf and in the name of the HRA to do, perform and carry out any and all further acts which they shall determine to be necessary, appropriate or desirable in order to carry out the intent and purposes of the foregoing resolution; and FURTHER RESOLVED, that any and all actions heretofore taken br caused to be taken by the Chair and the Secretary consistent with the tenor and purpose of tMoreing resolutions are hereby ratified, confirmed and approved in all respects. PASSED AND ADOPTED IS 2ND DAY OF OCTOBER, 2 Attest tom. Linda M. asica, Secretary James B. Hovland, Chair STATE OF MINNESOTA ) ) ss. CERTIFICATE OF EXECUTIVE DIRECTOR COUNTY OF HENNEPIN ) I, the undersigned duly appointed and acting Executive Director of the Board of Commissioners for the Housing and Redevelopment Authority of Edina, Minnesota, do hereby certify that the forgoing Resolution is a true and correct copy of the Resolution adopted by said Board of Commissioners at its regular meeting of October 7— , 2007 and as recorded in the Minutes of said regular meeting. Witness my hand and seal of said Authority this�- day of _ • Gordon Hughes, E cutive Director City Hall 952-927-8861 4801 WEST 50TH STREET FAX 952-826-0390 EDINA, MINNESOTA, 55424-1394 www.cityofedina.com TTY 952-826-0379 RESOLUTION NO. 2007-01 Page 2 • TFR?riINATION OT DEVELOPER'S AGREEMENT TATS TF WINATION OF DEVELOPER'S AG EENIENT is made and entcmd into this day of September,2007,by and between the City of Edina,a municipal corporation organized under the laws of the State of 14tinnesota((he"City"),and Housing and Redevelopment Authority of Edina, Minnesota, a body politic and corporate under the laws of the State of Minnesota (the "HRA"),and 5000 France Company,a Minnesota corporation(the"Developer"). WITNESSETH THAT: WHEREAS,the parties hereto executed a Developer's A grccment dated September 20,2005, which Developer's Agreement was recorded in the office of the County Recorder in and for Hennepin County,Minnesota,as Doctunent No. 8459950 on September 23,2005(the"Developer's Agreement");and WHEREAS, the parties hereto desire to terminate the terms and conditions of the Developer's Agreement; NOW, THEREFORE,', in consideration of the premises and the covenants and agreements hereinafter contained it is hereby agreed as follows: • f. The Developer's Agreement is hereby terminated and of no further force and effect_ IN WITNESS WHEREOF,the parties hereto have executed this Termination of Developer's Agreement as of the date first above written. CITY OF E A a municipal corporation organized e t laws ofthe State of Stinnes a 1 s 8 Ho-on-, h .r Ay _ — G r on L,Hu a-, l ty•Manager g • RESOLUTION NO. 2007-01 Page 3 • HOUSIN-ci AND REDEVELOPMENT AUTHORITY OF EDIINIA,MINNESOTA,a hodypolitic and co race under the laws of the State crf James B.Hovland,Chair By:- e�nA V Linda McrMasic'a.Secr&ry 5000 FRANCF COMPWR� Ey.- _ Its Presided STATE OF MINNESOTA )Ss COUNTY OF UENTNEPIN The foregoing instrument was acknowledged before me this C day of September, 2007,by James B.Hovland,the Mayor,and Gordon L.Hughes,the City Manager of the City of Edina,a municipal corporation organized under the laws of the State of Minnesota,on behalf of the corporation. , ms's M.TIMM N. FAI C—Vik"Eu—u-31,MIC Nola Public SPATE OF MINNESOTA ) )ss COUNTY OFllr-,NNEPIN ) The foregoing instniment was acknowledged before irne this day of September, 2007, by James B. Hovland, the Chair, and Linda M. MasiO, the Sectary of Housing and Redevelopment Authority of Edina,Minnesota, a body politic and corporate under the laws of the State of Minnesota,on behalf of the Political and corporatc body. J;AINtE M.'TIM�M 3. 'a � 17� "oWy rubft-Vinnesaft t -Q��' M,Co,-*—Ew.O.W 31,2MC -P 4otukc RESOLUTION NO. 2007-01 Page 4 STATE OF NINNESOTA • )SN COVNTY OF HENNEPIN ) The forcgoing instrument was acknowlcdgcd before me this day of September, 2007, by Gene H"Iand, the President of 5000 Franoc Company, a Minnesota corporation, on behalf of thccorporadon. N;P,t 4� c Tfus jNs'rKUNIUKT PRFPARED BY: GRAY,PLANT.Mousy,Mm ry &BESWFTT,P.A.(JI.r) CHUft K Mou 500 IDS CENMWwy Publio So SouT-ri FiGnnt STREET ®R I Wwvsota MNNEAPOLIS,MN 55402 thy Comtean Expim Jam-&y 31,M10 RESOLUTION NO. 2007-01 Page 5 • DRAFTED BY AND UPON RECORDING RETURN TO: GRAY,PLANT,MOOTY,MOOTY &BENNETT,P.A.()LT) 500 IDS CENTER 80 SOUTH EIGHTH STREET MINNEAPOLIS,MN 55402 RELEASE OF EASEMENTS Date: September ,2007 FOR VALUABLE CONSIDERATION,the undersigned hereby releases all right,title and interest of the undersigned in and to the easement or easements reserved in that certain Deed dated September 20,2005, Filed for record in the office of the Hennepin County Recorder as Document No. 8659951. Nothing herein shall release easements granted to the undersigned under any other recorded document. HOUSING AND RE EVELOPMENT AUTHORITY OF EDINA, E' TA,a body politic and corporate under the la t ate of Minnesota Jame .Hovla d,Chair By: Linda: asica,Secreta STATE OF MINNESOTA ) )ss COUNTY OF HENNEPIN ) The foregoing instrument was acknowledged before me this day of September, 2007, by James B. Hovland, the Chair, and Linda M. Masica, the Secretary of Housing and Redevelopment Authority of Edina,Minnesota, a body politic and corporate under the laws of th State of Minnesota, on behalf of the political and corporate body. JANE M.TiMM Nota ublic Notary Publio-MiMesota GP:2259712 v l MV Com,jss'°"Exomms Jan 31,2010 •