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WHEREAS, at the request of the County of Hennepin,the City adopted Resolution No.4405 <br /> on December 13, 1999 (a copy of which is attached hereto and incorporated herein by reference as <br /> Exhibit B), being a"Resolution of Intent to Enter into an Agreement"with the Hannings; <br /> WHEREAS the Cit ado•ted the Resolution in •art to limit .otential I a ent of a lar•er <br /> condemnation award; <br /> WHEREAS, the Hannings, in reliance on the aforesaid December 13, 1999 Resolution by <br /> the City, entered into a settlement of the condemnation proceeding with the County of Hennepin;and <br /> WHEREAS, the parties hereto desire to enter into the Agreement that was contemplated in <br /> the City's aforesaid Resolution of December 13, 1999, upon the following terms and conditions. <br /> NOW, THEREFORE, the parties hereto agree as follows: <br /> 1. Upon any request by the Hannings, or their heirs, successors or assigns, to subdivide <br /> the Subject Property, the City shall consider the Subject Property to include the area of permanent <br /> easement that the County of Hennepin acquired by eminent domain from the Hannings for highway <br /> purposes and for drainage purposes, as described in Exhibit A attached hereto and made a part hereof <br /> by reference, so that the Subject Property, and any proposed subdivision thereof, will be considered <br /> by the City based upon the pre-taking dimensions and area of the Subject Property. <br /> • . • . - • . •1 • • . .UOU. , I •1 I •1 , . • • <br /> . •I. to, • . 1 •1 . • •, • . . • . , . . . .. .. • . I • ••.i • <br /> .. . • •. • • • . . •. _• • • I .. .. 1 •II , • <br /> • <br /> .A• • . • , . •1 • • V • 1 • • . .• 1 _ I • - I <br /> 3.2. This Agreement shall be binding upon the parties hereto, as well as their respective <br /> heirs, successors, and assigns and shall run with the land comprising the Subject Property. <br /> HC26DS4/4707/26510121.v2 7/19/2000 2 <br />