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J«n 04 99 03:18p 612-475-0007 p.2 <br />' <br />SPECIAL ASSESSMENT AGREEMENT <br />This Agreement is made this ___day of December, 1998, by and between the City of <br />Orono, a Minnesota muuicipiil corporation (‘’Cit/’) and Greea Valley Associates, Inc., a <br />Minnesota corporation (“Developer”). <br />Recitals <br />A. The Developer is the fee owner of Outlet E, SUC.AJR. WOODS, except lliai part shown <br />as Pared 342A, Minnesota Deparcraent cf Transportation Right-of-Way Plat No. 27-70, Hennepin <br />County, Minnesota. The Developer is replattmg said land into SUGAR WOODS 2ND <br />ADDITION, consisting of Lot 1, Block I and OuUot A. <br />B. The De-v eloper intends to develop Lot 1, Block 1, SUG.AR WOODS 2ND <br />ADDITION, with an otSce building. The Developer is granting to the City a perpetual easement <br />for street, trailway, utility and drainage purposes over all ofOutloi A, SUGAR WOODS 2ND <br />ADDITION. The City already holds easements for street, trailway, utility and drainage purposes <br />over all of OuUot D. SUG.AR WOODS. <br />C. On October 26, 1998, the City renewed its preliminary pla» approval for SUGAP, <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 Drive (“Frontage Road”). <br />D. Paragraph 4 on page 7 of Resolution No.reads as follows. <br />Lot 1 [of Block 1 of SUO-AR WOODS 2ND ADDITION] shall bear the total reasonable <br />cost of constructing the ponion of the frontage road directly adjace-* j Lot 1. If the <br />frontage road is built, the owner of Lot 1 reserves the right to conie^i the necessity and <br />feasibility of the frontage road improvement The [City] Council will require at the lime 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 />l750Hy,01 Pniitcd 12/14/98 4 08 FM