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AGREEMENT OF ASSESSMENT A*:D <br />WAIVER OF IRREGULARITY AND APPEAIJ <br />THIS AGREEMENT is made this 5th day of October, 1987, <br />between the City of Orono (hereinafter referred to as the <br />"City") and Woodhill Country Club, a Minnesota nonprofit <br />corporation, and MSM Associates, a Minnesota general <br />partnership, (hereinafter referred to as "Applicants"). <br />In consideration of the a-:tion of the City Council to <br />approve the final subdivision of certain real property legally <br />described in Exhibit A, attached hereto, prior to the City's <br />final determination of costs and assessments associated with <br />the Woodhill Avenue upgrade and in consideration <br />of the <br />to c�Y <br />benefits conferred by such upgrade, the Applicantsagree <br />a fair share of such costs as set forth below. The <br />improvements to Woodhill Avenue (hereinafter ref-rred to as <br />"the Project") include an upgrade to a 22 foot standard from <br />Orono Orchard Road east to its connec_.On with the private road <br />to be constructed to serve the 'Wood,-iill Ridge development in <br />accordance with information outlined in the City Engineer's <br />Report for Woodhill Avenue Street Improvement Project 87-3, <br />dated September 23, 1987. <br />In consideration of the City's action, Woodhill Country <br />Club agrees to pay 3/'_6ths of the com-t of the 'Project up to a <br />maximum �f $11,565.00. MSM Associates, also in consideratic.)n <br />of the City's action, agrees to pay 9/16ths of tthe <br />i-e cost �� <br />Project up to a ffaximum of t34,695.00. Although the final <br />specifications Of the Project have not been determined, the <br />foregoing agreements assume a maximum Project cost of <br />t6l,680.0r. In the event the Project cosr_s exceed t61,680.00, <br />neither the Woodhill property, nor tha MS:•i property shall be <br />assessed any more that, the respective amounts set forth above. <br />Finally, the Applicants expressly waive objection to any <br />irregularity with regard to the improvement assessments and any <br />clam that the amount thereof levied against t:,e Applicants' <br />property is excessive, together wit'� all rights to appeal in <br />the costs. <br />