08-15-05 - Laserfiche WebLink

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CERTIFICATE This Certificate is executed this _ day of , 2005, by the City of Hastings, Minnesota, a home rule charter city under the laws of the State of Minnesota (the "City"). WITNESSETH: WHEREAS, pursuant to a Purchase and Development Agreement dated as of July 20, 2000, (the "Development Agreement"), the City has conveyed to Arthur G. Miller, a married individual, (the "Developer") certain real propertY legally described as Lot 2, Block 1, Hastings I Industrial Park Number 5, according to the recorded plat thereof, Dakota County, Minnesota (the ! "Property"); and ' WHEREAS, the Developer onl,.Y paid a portion of the actual value of the Property in consideration for the City's conveyance of the Property to the Developer but with the understanding that if the Developer did not meet certain construction and wage and job goals, all or a portion of the value of the Property not paid at the time of the closing on the conveyance to the Developer would be payable by the Developer; and WHEREAS, pursuant to the Agreement the Developer agreed that the Developer's obligation to pay the value of the Property not paid at the closing on the conveyance would be assessed as a lien (the "Assessments") against the Property, subject to discharge if and when the Developer meets its construction and wage and job goals set forth in the Agreement; and WHEREAS, the Agreement also provided that upon request by the Developer and upon submission by the Developer to the City of documentation showing that the Developer has met in full or in part its construction and wage and job goals the City would execute a certificate to be recorded against the property evidencing the Developer's performance and discharging in whole or in part the Assessments as a lien against the Property; and WHEREAS, the Developer has provided to the City documentation sufficient to allow the City to execute and deliver to the Developer this Certificate in accordance with the provisions of the agreement.