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, . . ���3�`�3 <br /> (reserved for recordin� <br /> �°U�31.1�� I�?PRCI�F���'� <br /> AND <br /> SPECIAL ASSESSMENT AGREEMENT <br /> AGREEMENT made this / � day of �. � � , 20 0�, by and between <br /> the CITY OF ORONO, a Minnesota municipal corporation ("Cit}�') and Timothy C. and <br /> Gayle W. DeVries (the"Property Owner"). <br /> RECITALS <br /> A. Property Owner is the fee owner of Lot 2 , Block 1 , of West Fox , with a <br /> street address of 3125 Fox Street , Orono,Minnesota 55356 and PINS O4-117-23-33-0011 <br /> (the"subject property"). <br /> B. Property Owner has requested that the City instal] sanitary sewer to serve the subject <br /> property. <br /> NOW, THEREFORE, IN CONSIDERATION OF THEIR MUTUAL COVENANTS, <br /> THE PARTIES AGREE AS FOLLOWS: <br /> 1. PUBLIC IMPROVEMENTS. The City will construct sanitary sewer to <br /> serve the subject property. <br /> 2. PAYMENT AND SPECIAL ASSESSMENTS. The total cost of the <br /> project, estimated at $ 25,000, shall be paid by the Property Owner within 30 days of <br /> project completion, or by October 31, 2008, whichever is sooner. If the total costs of the <br /> project are not paid within this timeframe, the City will assess the subject property for <br /> sanitary sewer in the principal amount of$25,000, together with 6.25°/o interest per year <br /> on the unpaid balance. The special assessment shall be due and payable in full with taxes <br /> in 2009. The Property Owner waives any and all procedural and substantive objections to <br /> the public improvements and special assessments, including but not limited to hearing <br /> requirements and any claims that the assessments exceed the benefit to the subject property. <br /> 136304 ! /�, `��jC,��� <br /> 11 / � <br /> � <br />