09-25-2017 Council Packet - Laserfiche WebLink

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AMENDMENT TO PLANNED UNIT DEVELOPMENT This Amendment to Planned Unit Development No. 2B (the "Amendment") is made and entered into effective as of , 2017, between and among the City of Orono, a municipal corporation (the "City"), and the Orono Housing and Redevelopment Authority, a body corporate and politic, and a political subdivision (collectively, the "HRA"), and Orono Woods Apartments, LLC, a Minnesota limited liability company (the "Developer"). BACKGROUND The City, the HRA, and Orono Senior Housing, LLC, a Minnesota limited liability company (the "Original Developer") are parties to that certain Planned Unit Development No. 2B Agreement for Orono Woods Apartments dated December 3, 2001, filed with the Office of the Registrar of Titles December 4, 2001, as Document No. 3466807 (the "PUD"). The City is also a party to that certain Certificate of Completion and Partial Release dated December 28, 2006, filed with the Office of the Registrar of Titles December 29, 2006, as Document No. 4342060 (the "Certificate"). All capitalized terms which are defined in the PUD will have the same meaning(s) when used in this Amendment. Prior to this Amendment and in accordance with the plans, specifications, and covenants provided in the PUD, the Original Developer constructed the 62 -unit Senior Housing Building. Prior to or contemporaneous with this Amendment, pursuant to an agreement with the Developer, and with the approval of the City and HRA, the Original Developer sold and transferred to Developer, inter alia, all of Original Developer's right, title, and interest in: (i) the Senior Housing Building; (ii) the TIF Note; (iii) the PUD; (iv) that certain 99 -year Ground Lease of the Property by and between the HRA and Original Developer dated November 30, 2001, filed December 4, 2001, as Document No. 3466810, as amended by First Amendment to Ground Lease dated December 1, 2006, filed December 29, 2006, as Document No. 4342059 (the "Ground 100363531 1