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(reserved for recordin� <br /> PUBLIC IMPROVEMENT <br /> AND <br /> SPECIAL ASSESSMENT AGREEMENT <br /> AGREEMENT made this day of ,2010,by and between the <br /> CITY OF ORONO, a Minnesota municipal corporation("City")and PHILIP R. KAUFMAN <br /> AND 1vICOLE Y. KAUFMAN, husband and wife, (the"Property Owners"). <br /> RECITALS <br /> A. Property Owners are the fee owners of Lot 9,Block 1,The Farm at Long Lake, <br /> Hennepin County,Minnesota,with a street address of 1680 North Fann Road, Orono,Minnesota <br /> 55356,and Property ID No. 27-118-23-44-0010(the"subject property"). <br /> B. Property Owners have requested that the City install sanitary sewer to serve the <br /> subj ect 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 serve the <br /> subject property(the "Improvement"). <br /> 2. SPECIAL ASSESSMENTS. The City will assess the subject properiy for all <br /> installation and construction costs associated4with the Improvement in an amount not to exceed the <br /> principal amount of$7,500.00. The assessment sha11 be deemed adopted on the date this <br /> Agreement is signed by the City. The assessment shall be paid over a 15-year period without <br /> deferment,together with 6.25%interest per year on the unpaid balance. The first installment shall <br /> be due and payable with first half of property taxes in 2011. The Property Owners waive any and <br /> all procedural and substantive objections to the public improvements and special assessments, <br /> including but not limited to hearing requirements and any claims that the assessments exceed the <br /> benefit to the subject property. The Property Owners waive any appeal rights otherwise available <br /> pursuant to Minn. Stat. § 429.081. <br /> 154051v1 <br />