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f <br />SPECIAL ASSESSMENT AGREEMENT <br />This Agreement is made this__day of December, 1998, by and between the City of <br />Orono, a Minnesota municipal corporation (“City”) and Green Valley Associates, Inc., a <br />Minnesota corporation (“Developer”). <br />Recitals <br />A The Developer is the fee owner of Outlet E, SUGAR WOODS, except that part shown <br />as Parcel 342A, Minnesota Department of Transportation Right-of-Way Plat No. 27-70, Hennepin <br />County, Minnesota. T' * Developer is replatting said land into SUGAR WOODS 2ND <br />ADDITION, consisting of Lot 1, Block 1 and Outlot A. <br />B. The Developer intends to develop Lot 1, Block 1, SUGAR WOODS 2ND <br />ADDITION, with an ol£ce building. The Developer is granting to the City a perpetual easement <br />for street, trailway, utMity and drainage purposes over all of Outlot A, SUGAR WOODS 2ND <br />ADDITION. The City already holds easements for street, trmlway, utility and drainage purposes <br />over all of Outlot D, SUGAR WOODS. <br />C. On October 26,1998, the City renewed its preliminaiy plat approval for SUGAR <br />WOODS 2ND ADDITION by passing Resolution No.______. Resolution No.______ <br />contemplates the possibility of the future installation of an east/west frontage road north of <br />Wayzata Boulevard between Brown Road and Willow Dr^e (“Frontage Road”). <br />Paragraph 4 on page 7 of Resolution No.reads as follows: <br />Lot 1 [of Block 1 of SUGAR WOODS 2ND ADDITION] shall bear the total reasonable <br />cost of constructing the portion of the frontage road directly adjacent to Lot 1. If the <br />frontage road is built, the owner of Lot 1 reserves the right to contest the necessity and <br />feasibility of the frontage road improvement. The [City] Council will require at the time of <br />final platting security in the form of a cash escrow, letter of credit or other form of <br />security acceptable to the City. <br />1750149.01 Printed 12/14/98 4:08 PM