HomeMy WebLinkAboutResolution No. 156-06 i
RESOLUTION
WHEREAS, on or about July 16, 2002, the City entered into a Contribution Agreement with Arcon
Development, Inc., and R.C. Properties, Inc. (the "Owners"), for lands commonly referred to as the Forest
Knoll development, and legally described on the attached Exhibit 'A' (the "Property"), which agreement was
recorded on or about August 1, 2002, as Document#A-927545, and addressed the Owners' obligations
related to City's J9799 Sanitary Sewer &Watermain Extension Project; and
WHEREAS, since the date that the Contribution,Agreement was recorded R.C. Properties, Inc. has
transferred its interest in said Property to Arcon Development, Inc., and subsequently the City has entered
into a Development Agreement with Arcon Development, Inc. for the Property, the Development
Agreement being recorded on or about March 23, 2005, as Document#A-1056567; and,
WHEREAS, it was the intent of the parties that the terms of the Development Agreement would
incorporate in and supersede all of the terms of the earlier Contribution Agreement, even though that was
not specifically stated in the subsequent Development Agreement.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Rochester that the City
does hereby rescind that certain July 16, 2002 Contribution Agreement between the City of Rochester and
Owners, which agreement was recorded on or about August 1, 2002, as Document #A-927545, the terms of
which are to be considered superseded by the later development agreement referred to above.
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PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS �9,Qqj2j _ DAY OF WPACh , 2006.
PRESIDENT OF SAID COMMON COUNCIL
ATTEST:
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APPROVED THIS DAY OF 97)&12- , 2006.
A4:0� ;�X;00�
MAYOR OF SAID CITY
(Seal of the City'of
Rochester; PAinnesota)
Res05\rescJnd.CA.doc