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RESOLUTION
BE IT RESOLVED by the Common Council of the City of Rochester that the City approve
of and execute an amendment to the August 27, 2007, purchase agreement with G & H
Holdings that accomplishes the following:
1. Amends Paragraph 6 to provide a closing date no later than January
1, 2009.
2. Amends Paragraph 14 to provide for conveyance of the property
back to the City if construction of the project has not commenced by
March 1, 2009.
3. Amends Paragraph 15 to provide the City with a 90-day option to
purchase the adjacent properties from G & H if construction of the
project has not begun by March 1, 2009.
BE IT FURTHER RESOLVED that the City approve of and execute an amendment to
Section 2.2(g) of the September 5, 2007, Development Assistance Agreement with G & H
Holdings so as to provide for a construction commencement date of not later than March 1,
2009.
The Mayor and City Clerk are authorized and directed to execute the amendments to the
agreements on behalf of the City.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS OF A&Sr , 2008.
PRESIDENT OF SAID COMMON COUNCIL
ATTEST:
ITY LCLERK
APPROVED THIS /'hW DAY OF �� , 2008.
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
ResMExecuteAgA223