11-23-1987 Council Packet - Laserfiche WebLink

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AGREEMENT OF ASSESSMEITT AND WAIVER OF IRREGULARITY AND APPEAL THIS AGREEMENT is made this 5th day of October, 19C7, between the City of Orono (hereinafter referred to z= the "City") and Woodhill Country Club, a Minnesota nonpr-,3fit corporation, and 145M Associates, a Minnesota genera. partnership, (hereinafter referred to as "Applicants"). In consideration of the action of the City Council to approve the final subdivision of certain real property lega.ly described in E.thibit A, -attached hereto, prior to the City's final determination of costs and assessments associated with the Woodhill Avenue upgrade and in consideration of the benefits conferred by such upgrade, the Applicants agree to ray a fair share of such costs as set forth below. The improvements to Woodhill Avenue (hereinafter referred to as "the Project") include an upgrade to a 22 foot standard fro: Orono Orchard Road east to its connection with the private road to be constructed to serve the Woodhill Ridge development in accordance with information outlined in the City Engineer's Report for Woodhill Avenue Street Improvement Project 87-3, dated September 23, 1987. In consideration of the City's action, Woodhill Country Club agrees to pay 3/16ths of the cost of the Project up to a maximum of $11,565.00. MSM Associates, also in consideration of the City's action, agrees to pay 9/16ths of the cost of the Project up to a maximum of $34,695.00. Although the final specifications of the Project have not been determined, t}tie foregoing agreements assume a maximum Project cost of $61,680.00. In the event the Project costs exceed $61,680.00, neither the Woodhill property, nor the MSM property shall be assessed any more than the respective amounts set forth above. Finally, the Applicants expressly waive objection to any irregularity with regard to the improvement assessments and any claim that the amount thereof levied against the Applicants' property is excessive, together with all rights to appeal in the costs.