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Home My WebLink About2111t z W AGREEMENT THIS AGREEMENT is made and entered into this 2e day of October, 1980, by and between EDINA PLACE, INC., a Minnesota corporation.(hereinafter referred to as the "Com- pany ") and the CITY OF EDINA, a Minnesota municipal corpora- tion (hereinafter referred to as "Edina "); W I T N E S S E T H: WHEREAS, the Company is the owner of premises situate in the County of Hennepin, State of Minnesota, legally de- scribed as follows: Outlots A and B, Martens 1st Addition, according to the duly recorded plat thereof, Hennepin County, Minnesota (hereinafter referred to as "Subject Property "); and WHEREAS, the Company is the fee owner of property abutting the westerly boundary of the Subject Property which is situate in the County of Hennepin, State of Minnesota, le- gally described as follows: Lot 18, Edina Interchange Center 3rd Addition, according to the duly recorded plat thereof, Hennepin County, Minnesota (hereinafter referred to as "Development Property "); and WHEREAS, Company will hereafter be granting to Edina an easement for public road and utility purposes over, under and across a portion of the Development Property and the Subject Property in a location hereafter to be determined by the'City (the "City Easement "); and WU 'A l`4z, 'iW- tjent taxes and transfer mteted T' Mf tt i PROPERTY TAXATION[ �iCNNEFI ±N COUNTY MINN, NOV 17 1 0 R fCiOR Sf PO RTY Of TAXA0 BY This ccertiti does not relate to taxes T /� //, which may or may not be peta. current yepr WHEREAS, the Company and Edina have agreed that it is in their mutual best interests to provide for the dedica- tion of the Subject Property to the general public at such time as the Development Property is developed, all in accor- dance with the terms of this Agreement. NOW, THEREFORE, in consideration of the mutual cove- nants and agreements hereinafter set forth, the parties do hereby agree as follows: I. At such time as a building permit is requested from Edina for location or construction of a structure (i) upon any part of the Development Property lying southerly of the City Easement, or (ii) upon property other than the De- velopment Property, but which structure includes, as a part of the overall development area for such structure, any part of the Development Property lying southerly of the City Easement, then Company, pursuant hereto, shall convey to Edina the fee simple title to that part of the Subject Pro- perty lying southerly of the center line of the City Easement. Likewise, if such structure is (a) upon any part of the De- velopment Property lying northerly of the City Easement, or (b) upon property other than the Development Property, but which structure includes, as a part of the overall development area for such structure, any part of the Development Property lying northerly of the City Easement, then Company, pursuant hereto, shall convey to Edina the fee simple title to that part of the Subject Property lying northerly of the center -2- line of the City Easement. The grant of the City Easement and said conveyances to Edina shall be conditions precedent to the obligation of Edina to issue any such building permit. Also the grant of the City Easement shall be a condition precedent to the obligation of Edina to give any plat approvals or building permits for the property southeast of the Development Property and now proposed to'be platted as One Corporate Center Phase 5. II. The Subject Property so conveyed shall be included in Floor Area Ratio calculations and Lot Coverage calculations under the applicable ordinances of Edina with respect to the structure to be located or constructed pursuant to the building permit requested pursuant to paragraph I above. III. Conveyance to Edina of all or any part.of the Subject Property shall be by warranty deed, free and clear of all liens, charges and encumbrances whatsoever, except only the encumbrances (the "Permitted Encumbrances ") set out on Exhibit A attached here- to and hereby made a part hereof. IV. Company agrees not to voluntarily encumber all or any part of the Subject Property (except for the Permitted Encumbrances) so that, when conveyed to Edina, the Subject Property will be sub- ject only to the Permitted Encumbrances. It is further agreed that if any encumbrance is hereafter voluntarily or involuntarily placed on all or any part of the Subject Property, the interest of Edina shall have priority over such encumbrance and upon conveyance of the Subject Property to Edina pursuant hereto the Subject Pro- perty shall be free of all such encumbrances and Edina's interest 1XIM in the Subject Property shall not be subject or subordinate, in any way, to such encumbrances. V. Upon written request of Edina, the Company shall pro - vide Edina with one registered property abstract for the Subject Property certified to a then current date including all searches for judgments, bankruptcies and tax liens and current real es- tate tax certificates. Edina shall have twenty days after re- ceipt of such abstract within which to examine the title and to make any objections thereto in writing to the Company. Any ob- jections not so made shall be deemed waived. The Permitted En- cumbrances shall not be deemed objections to title. If any ob- jections are so made, the Company shall promptly and diligently exercise its best efforts, and will expend all necessary funds, to correct and remove such objections If such objections cannot ber7 corrected or removed, Edina may accept title to the Subject Pro- perty subject to such objections, or may elect to terminate this Agreement, or may enforce this Agreement by an action for specific performance. VI. Company shall pay all real estate taxes against the Subject Property payable in the year of conveyance, and also pay- able in the year following the year of conveyance if the convey- ance is delivered or recorded after October 14 of any year. All special assessments levied or pending against the Subject Property as of the time of conveyance shall be paid in full by Company, or, at Company's written request, consented to in writing by all then owners and encumbrancers of the Development Property, Edina will transfer all such -4- special assessments to all or such parts of the Development Property as shall be so requested and they will then be a lien against the Development Property to the same extent and priority as previously a lien against the Subject Property. VII. The terms and conditions of this Agreement shall inure to the benefit of and shall bind.the parties hereto, their respective successors and assigns, and shall be deemed covenants running with the land which shall bind all present and future owners and encumbrancers of the Subject Property and Development Property. IN WITNESS WHEREOF, the parties have caused this instrument to be executed the day and year first above written. EDINA PLACE, INC. By s CITY OF EDINA -5- STATE OF MINNESOTA SS COUNTY OF HENNEPIN r. On this � day of Qj� , 1980, before me, a Notary Publi , within and for said County, personally appeared to me personal known, who, being by me duly sworn d ay that he is the dt of EDINA PLACE, INC., one of the corporations named in the aregoing instrument, and that said instrument was signed and sealed in behalf of said corporation by authority of its Board of Directors, and said ;(Aar/ L 4 toeucvc q acknowledged said instrument to be the free act and deed of Wiid corporation. 0 v „r.. r. t4.I?'IS�IERT d�u0TA E.,i �JTY N.y emm�ssion expires Oct_ 12, 1985 STATE OF MINNESOTA ) ) SS COUNTY OF HENNEPIN ) � r S6-t-Ar-y/)Public On this day of A)00,etir1 eyL- , 1980, before me, a Notary Public, within and f r said Count per ovally appeared �/3n?P5 (JA�IiA�KP,�� a� and eiviu� {'�� n , to me per- sonally known, who, being by me duly sworn did say that they are the Mayor and Manager, respectively, of the CITY OF EDINA, one of the corporations named in the foregoing instrument, and that said instrument was signed and sealed i�} behalf of said cori4oration by authority of its CUG�1 and said and acknowledged said in trument to a the free act and deed of said corporation. os�scedsv^cy+s� *spa. ::a�•� .: CRAIG L. LARSE�J It { NOTARY PUBLIC - MINNESOTA ?,A ftw� a� HENNEPIN COUNI-Y ary My Commission Expires Sept. 15, 1984 THIS INSTRUMENT WAS DRAFTED BY: Dorsey, Windhorst, Hannaford, Whitney & Halladay 2300 First National Bank Building Minneapolis, Minnesota 55402 (TSE) EXHIBIT A TO AGREEMENT BETWEEN EDINA PLACE, INC., AS COMPANY, AND THE CITY OF EDINA, AS EDINA The Subject Property is or will be subject to the following encumbrances (the "Permitted Encumbrances "): 1. Any public road hereafter dedicated to and accepted by Edina; 2. Any Conservation Restriction now or hereafter granted to and accepted by;Edina; 3. Limitation of right of access as acquired by the State of Minnesota by Document No. 1072571, files of the Registrar of Titles, Hennepin - County, Minnesota. • 0 4 CONSENT AND SUBORDINATION The undersigned, being the holder of a mortgage on the Subject Property as described in the Agreement to which this Consent and Subordination is attached, which mortgage is dated September 3, 1971, and recorded as Document No. 1008572, in the office of the Registrar of Titles, Hennepin County, Minnesota, and in Book 71 of Hennepin County Records, Page 3904653, in the office of the County Recorder, Hennepin County, Minnesota, does hereby agree and consent to all of the terms and conditions of the Agreement to which this Con- sent and Subordination is attached, and agrees to be bound by all of the obligations of, and subject to all of the reme- dies available against, Company, as defined in said Agreement, in the event it becomes the owner-of the Subject Property. THE FIRST NATIONAL BANK OF SAINT By6� / /�/�,�L`cr Its VICE PRESI )EPd 7 And --�x (A / Its STATE OF MINNESOTA ) SS COUNTY OF RAMSEY ) The foregoing Consent and Subordination was acknowl- edged before me this 27th day of October , 1980, by Edward G. Wollerman and John C. Whi a er respectively, of THE FIRST NATIONAL BANK OF SAINT PAUL, a United States corpora- tion, on behalf of the corporation. /) , 'AA A, Annan�n�nann�am�nnnnan��nn�� `��^ v L W. L. HAFLING ex NOTARY PUBLIC - MINNESOTA RAMSEY COUNTY xpires Feb. 11. 1987 MY Commission E�� X' 41� ►i9��tl�Y "J�7VC/C/�l'C/GG'fY'C/ v -7- z�tt f 1405108 mw**fn VOL OFFICE pF THE REGISTRAR H OF TITLES E.!';' ^;r� COUNTY, MINNES07a C:i=- i'iFIED FILED QN NOV 2 6 i98Q REGISTRAR OF, 8 ILTLF�q Y i F� REoU1RED ABA FU SEPlEl-7 TpOP_PUBI 1C IZC;�D PURPOSES THIS Ii3STRU:: NT, Made this't5t7/ day of_ nAenlm.6c 19 by and between��' 1'L„tj�E a corporation under the laws of the State of Minnesota, party of the first part, and the City of Edina, a municipal corporation organized under the laws of the State of Pinnesota, party of the second part; WITNESSETH, That the said party of the first part, in consideration of One and No /100 Dollars ($1,00), to it in hand paid by the said party of the second part, the receipt whereof is he=reby acknowledged, does Grant, Bargain, Sell, Convey, and Warrant to said party of the second part an Easement in perpetu- ity for public road purposes in, under, and over the following described property situate in the COunty of Hennepin and State of Minnesota, to-wit: A 72.00 foot easement for road:aay purposes o��e'under and across that part of Lots 18 and 19, Block 1, EDINA IIdTyRCHA11GE CENTER. T.iIRD .:DDITION , according to the recorded plat thereof, Hennepin. County, Minnesota; and that part of Outlots A and B, MARTENS 1ST ADD?TION, according to the recordedl plat thereof; the centerline of said easement is described as follows: Com_- mencing at the southwest corner of said Lot 19; thence northwesterly along the west line of said Lot 19 on a curve concave to the west, tangent to the west line of Lot 20,. said Block 1, having a radius of 386.93 feet, a central angle of 29 degrees 37 minutes 00 seconds, a chord of 197.79 feet, a chord bearing of North 14 degrees 19 Minutes 59 seconds West, a distance of 200.01 feet to the point of beginning of said centerline; thence North 48 degrees 54 minutes 51 seconds East, a distance of 503.32 feet to the northeasterly line of said Outlot B and there terminating. v , IN TESTIM0f1Y �IIIERLOF, the said first party has used these presents to be executed in its corporate name by its and its corporate seal to be hereunto affixed the day and year first above wri tten . (Corporate Seal) STATE OF MINNESOTA ) SS COUNTY OF HENNEPIN ) Far. � MAI,� Title Title L/crti 1� On this .52ce day of 19,0 , before me, a Notary Public, within and for said County, personally appeared and' to me personally known, who, being each by me duly sworn', did say that they are respectively the and V%CCE.. of the corporation namned in the foregoing instrument and that the seal affixed to said instrualellit was signed and sealed in behalf of said corporation by authority of I- 11cliar/ T F 6urc� j and & u�c acknowledged said instrument to be the free act and deed of said corporation. !p �. MARGARET fA. SOISVER W1Y COMMISSion Expires Oct. 12, 1985 (Notarial Seal) THIS DOCUFIENT IS EXEMPT FROM DEED TAY, i This instrument ;gas drafted by: City of Edina 4801 ldest 50th Street Edina, flinnesota 55424