CR 92-69 Ramsgate Townhome
1 y 0
\
V "'"
~
.y , c"
March 12, 1992 OPK'~ Council Report #92-69
RAMSGATE TOWNHOME PROPERTY PURCHASE
proposed Action
staff recommends adoption of the following motion: Move to approve the
following items and authorize the Mayor and City Manager to sign the
applicable documents.
0 Special assessment agreement between the city of Hopkins and the
property owners along Hiawatha Avenue.
0 Purchase Aqreement between the city of Hopkins and Mark Z. Jones.
0 Acguisition of easement from Ramsgate A~artments for sanitary
sewer purposes at a cost not to exceed $25,000.
Overview
On February 18, 1992, the city Council approved general terms for the
purchase of the Ramsgate Townhome property (see attached term sheet).
In addition, the city approved the final plat/landscaping plan for
Ramsgate Second Addition with the understanding that Mark Z. Jones
would not take any action on the project until after March 24th to
permit a number of steps to be undertaken to allow for the sale of the
propert:(y. Mr. Jones has agreed with the terms of the sale and the 30-
day extension.
At this point, staff is still discussing with the applicable parties
the terms of the various agreements. As a result, it should be
understood that the documents which are attached are not necessarily
in final form. The action recommended assumes that these items will
be resolved by March 17th (City Council meeting). If these
negotiations are not completed, the City Council may be requested to
conduct a special meeting on or before March 24th.
primary Issues to consider
0 What are the specifics of the various agreements?
supportinq Information
0 Staff analysis of issues.
0 Alternatives
0 Draft of purchase agreement between Mark Z. Jones and City of
Hopkins
0 Draft of Special Assessment Agreement between the City of Hopkins
and property owners along Hiawatha Avenue.
0 Map illustrating area of easement needed for sanitary sewer
extension on Ramsgate Apartment property.
....
Tom Harmening,
Community Develo irector
primary Issues to Consider
0 What are the specifics of the various agreements?
A. Special Assessment Agreement
This agreement would be entered into between the
City of Hopkins and the property owners along
Hiawatha Avenue who agree to be assessed for the
acquisition of the Mark Z. Jones property. This
agreement outlines the terms and conditions of the
assessment and the purpose for which the city is
acquiring the property. Please note that
paragraph 7 on page 4 illustrates the basic
understanding of why the property is being
acquired and what its general use will be after it
has been acquired. However, it is suggested that
the Park Board be allowed to review -the inclusion
of this property into the City's park system and
make recommendations to the city council on the
future use of the property and its care and
maintenance.
The agreement indicates that the neighborhood will
provide $~85,OOO to the City thru the use of
donations and assessments against their individual
properties.
The terms within the agreement outline a ~5-year
amortization period on the assessment amount and
an 8% interest rate. These terms are similar to
the terms which the City uses for other assessment
projects. It is proposed that the city council
not certify the assessment roll to Hennepin County
until October of 1992. This will allow the
homeowners time to raise additional funds between
now and October to help reduce the assessment to
each property. However, it should be understood
that by not certifying the assessment roll until
October, the City will experience a loss in
interest earnings from the time the city closes on
the property until the assessment is certified to
the County.
It should be noted that the Neighborhood
Association is still reviewing the language in the
agreement. The agreement contains a provision
that the neighborhood is to execute and deliver
the agreement to the City by March 24, ~992. It
was staff's hope that the language in this
document would be agreed upon and executed by all
applicable property owners by March 17. This may
or may not be possible.
council Report 92-69
Page 3
B. Purchase Agreement between Mark Z. Jones and the
City of Hopkins
This document illustrates that the City of Hopkins
will purchase the property from Jones for a price
of $285,000 based upon the following
understandings or conditions:
0 Jones provides $100,000 donation toward the
selling price.
0 The Neighborhood Association will provide
$185,000 through donations or a special
assessment.
0 Acquisition is conditioned upon city
obtaining an easement for sanitary sewer
purposes over Ramsgate Apartment property.
0 Closing will occur within approximately 45
days.
0 The City will be responsible to pay for pro-
rated 1992 property taxes. These taxes
amount to approximately $420 per month.
0 Jones will undertake the necessary steps to
have a Waiver of Plat approved by the City to
allow him to split the property, thereby
allowing him to retain a strip of property
along the west side of the site to be used by
Ramsgate apartments for parking purposes.
At this point, Mr. Jones and his representatives
are in the process of reviewing the terms in the
purchase agreement. Again, it is hoped that this
item may be worked out by March 17th.
C. Sanitary Sewer Easement
The city desires to receive an approximate 301 x
400' permanent sanitary sewer easement from
Ramsgate Apartments to allow for the installation
of a sanitary sewer main to resolve a sewer
capacity problem in the area. Another alternative
which the City has to resolve the sewer problem
would be to undertake the installation of a
sanitary sewer main along Hiawatha Avenue.
However, this alternative costs approximately
$60,000 more than using the Ramsgate Apartment
property.
council Report 92-69
Page 4
City staff has made a proposal to Jones outlining
the proposed easement area with an indication that
the City would consider paying $20,000 - $25,000
for the easement. This dollar amount was based on
discussions with the city's appraiser and assumes
a dollar amount the City might be required to pay
if it attempted to acquire the easement through a
condemnation procedure.
Representatives of the owners of Ramsgate
Apartments have verbally agreed to providing the
easement for $25,000 subject to details being
worked out on how the site will be restored and
how access will be maintained to the garages.
Alternatives
0 Approve staff's recommendation.
0 Approve staff's recommendation with modifications
to the document, based upon negotiations with the
city and the applicable parties.
0 Do not approve the documents and discontinue
action on the purchase of the property. This
would appear to result in Mr.. Jones continuing
with the townhouse project.
0 Continue matter for further information or
continue negotiations with applicable parties.
Unless an extension was agreed to by Mr. Jones, it
would appear the city council would be asked to
consider meeting on or before March 24th.
lID & ~
SPECIAL ASSESSMENT AGREEMENT
This Agreement is made on the day
of , 1992 by and among the City of Hopkins, a
municipal corporation ("Citytt), Minnehaha Oaks Association, a
nonprofit corporation ("Association") and
, (collectively referred to as "Homeowners"):
RECITALS:
1. City is a municipal corporation created by Charter
and possessing all of the powers of a municipality.'
2. Association is a nonprofit corporation composed of
members residing on Hiawatha Avenue within the City.
3. Homeowners own and occupy certain single family
residences located on Hiawatha Avenue within the City and as
such are members of the Association.
4. The Association and Homeowners have requested the
City to acquire certain undeveloped property lying adjacent
to and west of Hiawatha Avenue. The land is owned by Mark Z.
Jones, II ("Ownertt) and consists of 1.54 acres of heavily
forested trees which the Association and Homeowners desire be
preserved for passive park and nature area purposes for them
and the community as a whole.
5. The Owner has elected to convey said land to the
City for the sum and upon the terms hereinafter described.
6. The Homeowners have agreed to reimburse acquisition
costs incurred by the City in the sum and upon the terms
hereinafter set forth.
-l-
7. The market value of the property has been
determined to be in the sum of One Hundr"ed Ninety-two
Thousand Dollars ($192,000.00) by appraisal.
NOW, THEREFORE, in consideration of the mutual
benefits, the terms of this Agreement accord to all parties,
it is agreed as follows:
1. The City shall acquire the land from the Owner for
the sum of Two Hundred Eighty-five Thousand Dollars
($285,000.00) payable in cash upon the receipt of which good
and marketable title shall be conveyed to the City.
2. The Owner has separately agreed to make a
charitable contribution in the sum of One ijundred Thousand
Dollars ($100,000.00) to assist in the acquisition of said
land.
3. In consideration for the action of the City in
acquiring by, purchase for the sum of Two Hundred Eighty-five
Thousand Dollars ($285,000.00), the premises legally
described on Exhibit A and in fulfillment of the request by
the Association for such acquisition, each of the Homeowners
as parties to this Agreement do hereby jointly and
individually agree to pay the sum of $185,000.00 of said
purchase price to the City in the following manner:
a) Remittance of $ as a donation in reimbursement
of such acquisition by the City;
b) $ by assessment 'against and a lien upon the
real estate owned by each of the parties to this
Agreement and legally described on Exhibit B.
c) Each of the parcels described on Exhibit B shall be
assessed in equal purportion regardless of Lot size or
location on Hiawatha Avenue.
-2-
4. The assessment shall be for a term of 15 years,
bear interest at the rate of eight percent (8%) per annum and
shall be certified to the Hennepin County Auditor by November
30, 1992 for inclusion on the 1993 real estate tax statement
of each such parcel. Payment terms and prepayment terms
shall be as provided in Minnesota Statute 429 as follows:
a. The Homeowner of a property so assessed, may, at any
time prior to certification of the assessment or the
first installment thereof to the County Auditor, pay
the whole of the assessment with interest accrued to
the date of payment. No interest shall be charged if
the entire assessment is paid within 30 days from the
adoption of the assessment.
b. The Homeowner may prepay the whole of said assessment
.any time prior to November 15 of any year with interest
to December 31 of the payment year.
5. Each of the parties to this Agreement jointly and
individually in order to induce the City to acquire the
property described on Exhibit A and implement the assessment
procedure do and hereby agree to expressly waive objection to
any irregularity with regard to the acquisition of the real
estate by the City which shall include but not be limited to
the following:
a) Waiver of right to a notice of assessment except and to
the extent notice of such assessment is provided for in
this Agreement;
b) Waiver of objection to such assessment by the parties
to be assessed;
c) Waiver of rights to appeal such assessment herein
agreed to;
d) Waiver of right to object to the assessment levy
provided for in this Agreement upon any ground
including but not limited to excessiveness of such
assessment.
-3-
6. Each of the undersigned Homeowners for themselves,
their heirs and assigns hereby agree that the acquisition of
the property by the City is feasible, necessary and proper
for the protection and benefit of the community, health,
safety, welfare and betterment and that each of the
properties to be assessed hereunder shall be improved and
benefited by such acquisition.
7. It is the intent and aim of the City to maintain
and enhance the property as a nature area and manage the site
for passive use and enjoyment of the community with due
regard for preservation of trees in a natural setting.
8. Each Homeowner shall execute and deliver to City
the Consent of Assessment form attached as Exhibit C.
9. Homeowners shall execute and deliver this Agreement
to the City on or before March 24, 1992 for approval and
execution by the City as soon as possible thereafter. The
aforementioned date may be extended by mutual consent of all
parties.
10. The provisions of this Agreement shall govern over
any other contrary, term, condition or provision contained in
any prior agreement or understanding among the parties.
11. This Agreement shall be binding upon and inure to
the benefit of all parties hereto, their successors,
representatives and assigns including without limitation any
purchaser of anyone or more of the properties to be assessed
and described on Exhibit E.
-4-
IN WITNESS WHEREOF, the parties have caused this
Agreement to be executed on the date first written above.
CITY OF HOPKINS
By
I:ts
MINNEHAHA OAKS ASSOCIATION
By
Its
HOMEOWNERS:
Bernardine Nelson
Bonnie Gilbert
Ronald Gilbert
Lisa Benson
Neal Benson
Trina Munnings
Jeffrey Jordan
Marie McNeff
'Larry McNeff
Marilyn Runquist
I Douglas Runquist
-5-
Betty Carroll
Norma Glasgow
John Glasgow
Patricia Isaak
.
Vernon Isaak
Malora Carlson
Joey Carlson
Edward Strom
Irene Ibsen
Kenneth Ibsen
John Carroll
.
STATE OF MINNESOTA)
) 5S
COUNTY OF HENNEPIN)
The foregoing instrument was acknowledged before me
this day of , 1992, by
the of the City of Hopkins, a
municipal corporation under the laws of Minnesota, on behalf
of the City.
Notary Public
-6-
STATE OF MINNESOTA)
) SS
COUNTY OF HENNEPIN)
The 'foregoing instrument was acknowledged before me
this day of , 1992, by
the of the Minnehaha Oaks
Association, a nonprofit corporation under the laws of
Minnesota, on behalf of Minnehaha Oaks Association.
Notary Public
STATE OF MINNESOTA)
) SS
COUNTY OF HENNEPIN)
The foregoing instrument was acknowledged before me
this day of , 1992 by Bernardine
Nelson.
Notary Public
STATE OF MINNESOTA)
) SS
COUNTY OF HENNEPIN)
The foregoing instrument was acknowledged before me
this day of , 1992 by Bonnie Gilbert
and Ronald Gilbert.
.
Notary Public
STATE OF MINNESOTA)
) SS
COUNTY OF HENNEPIN)
The foregoing instrument was acknowledged before me
this day of , 1992 by Lisa Benson and
Neal Benson.
Notary Public
-7-
STATE OF MINNESOTA)
) SS
COUNTY OF HENNEPIN)
The foregoing instrument was acknowledged before me
this day of , 1992 by Trina Munnings
and Jeffrey Jordan.
Notary Public
STATE OF MINNESOTA)
) 55
COUNTY OF HENNEPIN)
The foregoing instrument was acknowledged before me
this day of , 1992 by ,Marie McNeff and
Larry McNeff.
Notary Public
STATE OF MINNESOTA)
) 5S
COUNTY OF HENNEPIN)
-The foregoing instrument was acknowledged before me
.
this day of , 1992 by Marilyn Runquist
and Douglas Runquist.
Notary Public
STATE OF MINNESOTA)
) 55
COUNTY OF HENNEPIN)
The foregoing instrument was acknowledged before me
this day of , 1992 by Betty Carroll.
Notary Public
-8-
STATE OF MINNESOTA)
) SS
COUNTY OF HENNEPIN)
The foregoing instrument was acknowledged before me
this day of , 1992 by Norma Glasgow
and John Glasgow~
Notary Public
STATE OF MINNESOTA)
) SS
COUNTY OF HENNEPIN)
The foregoing instrument was acknowledged before me
this day of , 1992 by Patricia Isaak
and Vernon Isaak.
Notary Public
STATE OF MINNESOTA)
) 55
COUNTY OF HENNEPIN)
The foregoing instrument was acknowledged before me
this day of , 1992 by Malora Carlson
and Joey Carlson.
Notary Public
STATE OF MINNESOTA)
) 55
COUNTY OF HENNEPIN)
The foregoing instrument was acknowledged before me
this day of , 1992 by Edward Strom.
Notary Public
-9-
STATE OF MINNESOTA)
) SS
COUNTY OF HENNEPIN)
The foregoing instrument was acknowledged before me
this day of , 1992 by Irene Ibsen and
Kenneth Ibsen.
Notary Public
STATE OF MINNESOTA)
) S5
COUNTY OF HENNEPIN)
The ' foregoing instrument was acknowledged before me
this day of , 1992 by John Carroll.
Notary Public
.
-10-
J
EXHIBIT A
All that part of the Northeast Quarter of the Northwest
Quarter of Section 19, Township 117, Range 21, West of the
Fifth Principal Meridian, lying South of the State Highway
Number 7, except the one hundred foot right-of-way of the
Great Northern Railway Company across said land, and except
that part. thereof described as follows: Commencing at the
Southwest corner of said Quarter Quarter, thence North along
the West line thereof to the Easterly right-of-way line of -
.the present right-af-way af the Great Northern Railway,
thence Northeasterly along said Easterly right-of-way line to
the Southerly line of Trunk Highway #7 as built and. operated
across said Quarter Quarter, thence Easterly along said
Southerly line 609.23 more or less to a point midway benqeen
the intersections of said Southerly line with the East line
of said Quarter Quarter and the Easterly right-of-way line of
the Great Northern Railway; thence in a direct line to a
point in the South line of said Quarter Quarter which is 810
feet distant measured West on said South line from the
. Southeast corner thereof, thence West along said South line
to point of beginning, and except that part embraced within
the plat of Ramsgate, and situate in Hennenin County,
Minnesota.
(excepted from this description' shall be approximately 25 feet along the
westerly property line}
.
.,
.
"
" .'
.
EXHIBIT B
1. Bernardine Nelson, 402 Hiawatha Avenue, Hopkins,
Minnesota:
That part of Lot 8 lying southwest of road as opened by
Document No. 347404, Lot 8, Block 1, Minnehaha Oaks
2. .Eonnie and Ronald Gilbert, 406 Hiawatha Avenue, Hopkins,
Minnesota:
That part of Lots 7 and 9 lying southeasterly of a line
running parallel with the northwesterly line of Lot 9 from a
point in the northeasterly line thereof distant 43 3/10 feet
southeasterly from most northerly corner thereof Block 1,
Minnehaha Oaks
3. Lisa Benson and Neal Benson, 409 Hiawatha Avenue,
Hopkins, Minnesota:
Tract B Registered Land Surveyor #825
4. Trina Munnings and Jeffrey Jordan, 410 Hiawatha Avenue,
Hopkins, Minnesota:
That part of Lot 10 lying southeasterly of a line running
parallel with northwesterly line of Lot 10 and extension from
a point in the northeasterly line distant 88 feet
southeasterly from must northerly corner of Lot 10 and that
part of Lot 9 lying northwesterly of a line running parallel
with the northwesterly line of Lot 9 from a point in the
northeasterly l.ine distant 43 3/10 feet southeasterly from
most. northerly corner thereof and that part of Lot 7 lying
northwesterly of a line running parallel with the
northwesterly l.ine of Lot 7 from a point in the southwesterly
line distant 43 3/10 feet southeasterly from most westerly
corner thereof and southwesterly of road as opened by
Document No. 347404 Block 1, Minnehaha Oaks
5. Marie McNeff and Larry McNeff, 413 Hiawatha Avenue,
Hopkins, Minnesota:
Tract A Registered Land Survey No. #825
,
.,
,
6. Marilyn Runquist and Douglas Runquist, 418 Hiawatha
Avenue, Hopkins, Minnesota:
That part of ,Lot 10 lying northwesterly of a line running
parallel with northwesterly line of Lot 10 and extension from
a point in the northeasterly line distant 88 feet
southeasterly :from most northerly corner of Lot 10, Block 1,
Minnehaha Oaks
7. Betty Carroll, 425 Hiawatha Avenue, Hopkins., Minnesota:
Tract B Registered Land Survey #362
8. Norma Glasgow and John Glasgow, 426 Hiawatha Avenue,
Hopkins, Minnesota:
Lot 11, Block 1, Minnehaha Oaks
9. Patricia Isaak and Vernon Isaak, 434 Hiawatha Avenue,
Hopkins, Minnesota:
Lot 12, Block 1, Minnehaha Oaks
10. Malora Carlson and Joey Carlson, 435 Hiawatha Avenue,
Hopkins, Minnesota:
Tract A Registered Land Survey #362
,
11. ' Edward Strom, 505 Hiawatha Avenue, Hopkins, Minnesota:
That part of Lots 2, 3 and 4 lying south of the line running
east at right angles.from the west line of Lot 2 at a point
distant 90 feet south from the northwest corner thereof and
north of a ~ine running east at right angles from the west
line of Lot 3 at a point distant 50 feet south from the
northwest corner thereof 'Lots 2, 3 and 4, Block 1"Minnehaha
Oaks
.
l2. Irene Ibsen and Kenneth Ibsen, 51,l Hiawatha Avenue,
Hopkins, Minnesota:
That Part of Lots 1, 2, 3 and 4 lying southwesterly of creek
south of a line running east at right angles from the west
line of Lot 1 at a point distant 10 feet north from the most
southerly corner thereof and north of a line running east at
right angles from the west line of Lot 2 at a point distant
90 feet south from ,the northwest corner thereof Block 1,
Minnehaha Oaks
,
~
13. John Carroll, 517 Hiawatha Avenue, Hopkins, Minnesota:
That part of Lots 1, 2, and 3 lying southwesterly of creek
and north of a line running east at right angles from the
west . line of Lot 1 at a point distant 10 feet north f~om the
most southerly corner thereof except road Block ,1, Minnehaha
Oaks.
. .
.
-_ . ' ,. EXHrBIT C
WAIVER BY PROPERTY OWNE...~S
, hereinaf~er called tl:e
property owner I states that hej she is the 'owner" of
r Hopkins I Minnesota-- more particularl.y
described as:
Said property owner hereby' requests the City of Hopkins to make
, 'the arrangements necessary to:
Property owner hereby waives any right to notice or objection to
said improvement as provided in Chanter' 429 of the. Minnesota
statues and any other provisions of IDlliiicipal for state law
providing for notice or objections. Property owner understands
that for the foresaid work hejshe will be assessed for all costs
inc~=ed.
Hit:1ess cur har..ds to this agree::nent that we have read and fully
understand this agreement and consent ~~ereto this day
of ,.
- Property Owner
Property Owner
WITTNESSETH '
Witness
Witness
[IDill~~ ~
PURCHASE AGREEMENT
Hopkins, MN, March ,1992
RECEIVED OF City of Hopkins the sum of One Hundred
Dollars ($100.00) as earnest money and in part payment for
the purchase of property at Hopkins, Minnesota, County of
Hennepin described as follows:
See Legal Description Attached
all of which property the undersigned has this day sold to
the buyer for the sum of Two Hundred Eighty-five Thousand
Dollars ($285,000.00) cash on April 15, 1992 which the buyer
agrees to pay.
Subject to performance by the buyer and seller agrees
to execute and deliver a Warranty Deed conveying marketable
title to said premises subject only to the following
exceptions:
(a) Building and zoning laws, ordinances, State and Federal
regulations;
(b) Restrictions relating to use or improvement of premises
without effective forfeiture provisions;
(c) Reservation of any minerals or mineral rights to the
State of Minnesota;
(d) Utility and drainage easements which do not interfere
with present improvements;
(e) See conditions attached.
Seller shall pay 4/12ths of the real estate taxes and
installments of special assessments due and payable in 1992
and all such taxes and installments of special assessments
when due in subsequent years.
-1-
Buyer shall pay Bj12ths of the real estate taxes and
installments of special assessments due and payable in 1992.
Seller covenants that buildings, if any, are entirely
within the boundary lines of the property and agrees to
remove all personal property not included herein and all
debris from the premises prior to possession date.
The seller further agrees to deliver possession on
April 15, 1992 provided that all conditions of this agreement
have been complied with.
The buyer and seller also mutually agree that pro rata
adjustments of rents, interest, insurance, utilities and any
other operating expenses, shall be made as of April 15, '1992.
The seller, shall within a reasonable time after
approval of this agreement, furnish an abstract of title or a
Registered Property Abstract certified to date and to include
proper searches covering bankruptcies, and State and Federal
judgment and liens. The buyer shall be allowed days
after' receipt thereof for examination of said title and the
making of any objections thereto, said objections to be made
in writiI)g or deemed to be waived. If any objections are so
made, the seller shall be allowed 120 days to make such title
marketable. Pending correction of title the payments
hereunder required shall be postponed, but upon correction of
title and withi~ 10 days after written notice to the buyer,
-2-
the parties shall perform this agreement according to its
terms.
If said title is not marketable and is not made so
within 120 days from the date of written objections thereto
as provided, this agreement shall be null and void, at option
of buyer, andneither principal shall be liable for damages
hereunder to the other principal. All money theretofore paid
by the buyer shall be refunded. If the title to said
property be found marketable or be so made within said time,
and said buyer shall default in any of the agreements and
continue in default for a period of 10 days, then and in that
case the seller may terminate this contract and on such
termination all the payments made upon this contract shall be
.
retained by said seller and said agent, as their respective
.
interests may appear, as liquidated damages, time being of
the essence hereof. This provision shall not deprive either
party of the right of enforcing the specific performance of
this contract provided such contract shall not be terminated
as aforesaid and provided action to enforce such specific
performance shall be commenced within six months after such
right of action shall arise.
It is understood that seller/buyer has until March 24,
1992 to accept the terms and conditions of this purchase
agreement. The delivery of all papers and monies shall be
made at the office of Vesely, 'Miller & Steiner, 400 Norwest
Bank Building, 1011 First Street South, Hopkins, MN 55343.
-3-
Dated Dated
CITY OF HOPKINS
BY
Mark Z. Jones, III
ITS
Judy Jones
-4-
ADDENDUM TO PURCHASE AGREEMENT
CONDITIONS OF PURCHASE:
1. This Agreement to Purchase shall be conditional
upon receipt by Buyer of a fully executed assessment
agreement duly approved and adopted by Buyer, a copy of which
is attached.
2. This Agreement is conditional upon receipt from
Seller of an easement or easement agreement providing for a
sanitary sewer 30 feet in width over, across and upon certain
premises described as Ramsgate Apartments for which Seller
shall be compensated by Buyer in the sum of Twenty-five
Thousand Dollars ($25,000.00), a copy of which is attached
hereto.
3. Receipt and delivery from Mark Z. Jones, III the
sum of One Hundred Thousand Dollars ($100,000.00) as a
charitable donation to the City of Hopkins to assist in
acquisition of the property to be purchased herein.
4. Subdivision by Seller of a certain tract
approximately 25 feet in width adjacent to the westerly
boundary line of the property to be purchased herein, the
precise location of which shall be determined by Seller's
survey.
CITY OF HOPKINS
By
Mark. Z. Jones, III
Its
I
By
.
EXHIBIT A
All that part of the Northeast Quarter of the Northwest
Quarter of Section 19, Township 117, Range 21, West of the
Fifth Principal Meridian, lying South of the State Highway
Number 7, except the one hundred foot right-of-way of the
Great Northern Railway Company across said land, and except
that part, thereof described as follows: Commencing at the
Southwest corner of said Quarter Quarter, thence North along
the West line thereof to the Easterly right-of-way line of
, the present right-af-way of the Great Northern Railway,
thence Northeasterly along said Easterly right-of-way line to
the Southerly line of Trunk Highway #7 as built and" operated
across said Quarter Quarter, thence Easterly along said
southerly line 609.23 more or less to a point midway between
the intersections of said southerly line with the East line
of said Quarter Quarter and the Easterly right-of-way line of
the Great Northern Railway; thence in a direct line to a
point in ,the South line of said Quarter Quarter which is 810
feet distant measured West on said South line from the
. Southeast corner thereo f , thence West along said South line
to point of beginning, and except that part embraced within
the ' plat of Ramsgate, and situate in Hennepin County,
Minnesota.
(excepted from this description'shall be approximately 25 feet along the
westerly property line)
.
I
,
,
2/18/92
TERMS OF SALE
$285,000 Purchase Price
Less 100,000 Donation by Mark Z. Jones to city or
Neighborhood as deemed appropriate
$185,000 contribution to be provided by Donations/
Assessments from Neighborhood
Mark Z. Jones is allowed to retain strip of land on western
portion of site.
city approves final plat/landscaping plan subject to
understanding that Jones does not file the plat with the
County, does not remove trees from the property or otherwise
disturb the site, or apply for 'building permits for a period
of at least 30 days (March 24) or otherwise ~xperience any
other undue expense relating to the development of the
property.
This 30 day period will allow the following to occur:
o Allow neighborhood additional time to raise
remaining funds
o Allow for details to be worked out on the sanitary
sewer easement
o Allow for details to be resolved on donation
issue, i.e. should donation be made to
neighborhood or city?
o Allow for details to be resolved on the overall
structure of the sale
o Allow for details to be resolved on property owner
assessment
~
If $185,000 is not raised or committed within the 30 day
period, Mr. Jones has the option of proceeding with his
development.