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AGREEMENT OF ASSESSMENT AND <br />WAIVER OF IRREGULARITY AND APPEAL <br />THIS AIGRE'EMF.NT is nade this 5th day of October, 1987, <br />between the City of. Orono (hereinafter referred to as the <br />"City") and Woodhill Country Cluh, a Minnesota nonprofit <br />corporation, and 14SM Associates, a Minnesota general <br />partnership, (hereinafter referred to as "Applicants"). <br />In consideration of the action of the City Council to <br />approve the final subdivision of certain real property legally <br />described in Exhibit A, attached hereto, prior to thf, City's <br />final determination of costs and assessments associated with <br />the Woodhill Avenue upgrade and in consideration of the <br />benefits conferred by such upgrade, the Applicants agree to pay <br />a fair share of such costs as set forth below. The <br />improvements to Woodhill Avenue (hereinafter referred to as <br />"the Project") include an upgrade to a 22 foot standard from <br />Orono Orchari Road east to its connection with the private road <br />to be constructed to serve the Woodhill Ridge development in <br />accordance with information outlined in the City Engineer's <br />Report for 1oodhill Avenue Street Improvement Project 87--3, <br />dated September 23, 1987. <br />Ir consideration of the City's action, Woodhill Country <br />Club agrees to pay 3/16ths of the cost of the Project up to a <br />maximum of t11,565.00. MSM Associates, also in consideration <br />of the City's action, agrees to pa-y 9/16`hs of thcs cost of the <br />Project up to a maximum of S34,695.00. Although the final <br />specifications of the Project have not been deternined, the <br />foregoin agreements assune a naximun Project cost of <br />$61,680.0o. In the event the Project costs exceel t61,680.00, <br />neither the Woodhill property, nor the MSM property shall be <br />assesse3 any more than the respective amounts set forth above. <br />rinally, the Applicants expressly waive objection to any <br />irregularity with regard to the improvement assessments and any <br />claim th-�t the amount thereof levied against the Applicants' <br />property is excessive, together with all rights to appeal in <br />the costs. <br />