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IP #1047 contracts destroy 2032Existing Certs 1515550 1111111111111111111111 LAND TYPE Torrens (T) DOC NUM 5788079 Certified, filed and/or recorded on Jan 6, 2021 8:50 AM Office of the Registrar of Titles Hennepin County, Minnesota Martin McCormick, Registrar of Titles Mark Chapin, County Auditor and Treasurer Deputy 122 Document Recording Fee Document Total Pkg ID 2144696E $46.00 $46.00 This cover sheet is now a permanent part of the recorded document. PURCHASE AND REDEVELOPMENT AGREEMENT This Purchase and Redevelopment Agreement ("Agreement") is made by and between GREAT BUY HOMES, INC. a Minnesota corporation ("Buyer") and the Economic Development Authority in and for the City of New Hope, Minnesota, a public body corporate and politic created pursuant to the laws of the State of Minnesota ("Seller") effective September 28, 2020. In consideration of the covenants and agreements of the respective parties as hereinafter set forth, Seller shall sell and Buyer shall purchase the vacant parcel of real property located in the City of New Hope at the property address of 4215 Louisiana Avenue North, New Hope, Minnesota 55428, and legally described on the attached Exhibit A (the. "Property"). 1. Purchase Price. The purchase price for the Property is Sixty -Nine Thousand and No/100 Dollars ($69,000.00) (the "Purchase Price"), which Buyer shall pay as follows: an initial payment of Two Thousand and No/100 Dollars ($2,000.00) (the "Earnest Money"), which sum shall be paid to Seller upon Buyer and Seller's execution of this Agreement and Sixty - Seven Thousand and No/100 Dollars ($67,000.00) payable by wire, cashier's check or cash on the "Date of Closing", as that term is defined in paragraph 6 below. There are no items of personal property or fixtures included in this sale. 2. Title Conveyed. On the Date of Closing, Seller shall deliver a Quit Claim Deed (the "Deed") to Buyer conveying marketable title of record, free and clear of liens, encumbrances, assessments, and restrictions, except for the "Permitted Encumbrances" set forth on Exhibit B and the restrictive covenants referenced below in paragraph 4.b. 3. Representations of Seller. Seller represents and agrees as follows: a. Seller owns the Property and has the right to sell the same, and that there are no unrecorded contracts, leases, easements or other agreements or claims of any third party affecting the use, title, occupancy or development of the Property, there are no parties other than Seller in possession of any portion of the Property, and no person, firm or entity has any right of refusal, option or other right to acquire all or any part of the Property. b. Seller has not received any notice from any governmental authority concerning any eminent domain, condemnation, special taxing district, or rezoning proceedings. C. To the best of Seller's knowledge, there are no septic systems or wells on the Property. d. Seller represents that it has the requisite power and authority to enter into and perform this Agreement and any Seller's Closing Documents signed by it. e. Seller is not a "foreign person," "foreign partnership," "foreign trust" or "foreign estate" as those terms are defined in Section 1445 of the Internal Revenue Code. f. To the best of Seller's knowledge without inquiry, no above ground or underground tanks are located in or about the Property. g. Seller makes no other warranties as to the condition of the Property. Seller agrees that any breach of Seller's foregoing representations shall be grounds for Buyer to terminate this Agreement. In the event of such termination, the Earnest Money shall be returned. Wherever herein a representation is made "to the best of Seller's knowledge," such representation is limited to the actual knowledge of the President and/or Executive Director of Seller. 4. Representations of Buyer. As an essential part of this Agreement and in order to induce Seller to enter into this Agreement and sell the Property, Buyer hereby represents to Seller: a. SUBJECT TO THE FOREGOING REPRESENTATIONS BY SELLER, BUYER HEREBY ACKNOWLEDGES THAT BUYER IS PURCHASING THE PROPERTY IN "AS IS" CONDITION AS TO THE USE OF THE PROPERTY. Buyer understands and agrees that the Purchase Price is the fair market value of the Property in its "AS IS" condition. Buyer acknowledges that they have inspected or have had the opportunity to inspect the Property and agree to accept the Property "AS IS." Buyer has the right, at its own expense to take soil samples for the purpose of determining if the soil is suitable for construction of the homes described in paragraph 10 below. If the soil is determined to be unacceptable Buyer may rescind this Agreement by written notice to Seller, in which case the Agreement shall be null and void and all earnest money paid hereunder shall be refunded to Buyer. b. Buyer agrees the first sale of the separate homes on the Property will be sold to owner -occupants. An "owner -occupant" shall be defined as an individual(s) that purchases the home from Buyer by warranty deed or a contract for deed and intending to reside in the home as a primary residence. To insure the intent of the parties that the home constructed on the Property is purchased by an owner - occupant, Buyer will record restrictive covenants and assessment agreement against the Property prohibiting the leasing of the home for a period of two (2) years after the sale of such home by Buyer to an owner -occupant of the home. The restrictive covenants and assessment agreement shall be substantially in the form of the documents attached hereto as Exhibits C and D, respectively. Further, the restrictive covenants and assessment agreement shall provide that the EDA may levy a $20,000.00 assessment on the Property prior to the sale if the lot is not being sold to an owner -occupant. The EDA shall release the Property from these restrictive covenants and assessment agreement upon the issuance of a certificate of occupancy for the construction of the home on the Property and upon the receipt by the EDA of an affidavit signed by Buyer and the owner - occupants verifying owner -occupants' intent to reside in the homes as their primary residence in compliance with the restrictive covenants described herein in the form attached as Exhibit C. 2 C. Within one (1) year of Closing, Buyer shall complete the construction of the single family home on the Property (the Improvements). The Improvements must be consistent with all building and zoning requirements and the restrictive covenants applicable to the Property. The representations set forth in this paragraph shall be incorporated into appropriate documents to be recorded against the Property (whether by declaration, restrictive covenants, or development agreement as hereinafter defined) subject to approval by Seller and Buyer as a condition of Closing. 5. Title Commitment and Policy. a. Seller shall deliver to Buyer a Commitment for an ALTA Form B owner's policy of title insurance (the "Commitment") issued by a title insurance company of Buyer's choice ("Title Company") and covering title to the Property, in the amount of the Purchase Price. Buyer agrees to pay the costs associated with the preparation and issuance of the Commitment; Buyer shall pay the premium for the owner's policy, if any, and the lender's policy, if any, along with the price for any endorsements requested by Buyer or Buyer's lender. b. Buyer shall have fifteen (15) days after receipt of the Commitment to review and approve the title to the Property and to object to any exception to title that is disclosed in the Commitment or which is otherwise discovered by Buyer. In the event that Buyer does not within such fifteen (15) day period give notice to Seller objecting to any such exceptions, then all such exceptions shall be deemed approved and shall be considered a part of the Permitted Encumbrances. If Buyer timely objects to an exception to title, then on or before the tenth (10) day following Buyer's notice of exception, Seller shall remove the exception or notify Buyer that Seller is unwilling or unable to remove the exception. Within five (5) days of any notice by Seller that Seller it is unable to remove an exception to title, Buyer may elect by notice to Seller to either: (i) terminate this Agreement, whereupon all of the Earnest Money shall be returned to Buyer and the parties shall be released from all further obligations hereunder except obligations under this Agreement which provide for continued exercise following the cancellation or other termination of this Agreement; or (ii) elect to have this Agreement remain in effect, in which event Buyer will be deemed to have approved the previously -cited exception and the same shall be considered part of the Permitted Encumbrances. 3 6. Closing. a. Closing shall occur on or before November 30, 2020 (the "Date of Closing" or "Closing"), unless both parties agree, in writing, to an earlier or later time. b. Closing shall occur at the office of the Title Company. C. Seller shall deliver at closing the following executed and acknowledged documents: (i) the Deed; (ii) affidavit(s) in industry -standard form(s) stating that possession of the Property is being delivered free of any mechanic's or statutory liens in connection with work performed prior to closing; Seller is not a foreign person or entity; and addressing such other matters as Buyer may reasonably require. 7. Payments/Prorations. At Closing, Seller shall pay the cost of recording any instrument (other than the Deed) necessary to place title in the condition required under this Agreement, State deed tax, and all special assessments levied, pending or constituting a lien against the Property as of the Date of Closing, including without limitation any installments of special assessments and interest payable with general real estate taxes in the year of closing. Seller will pay general real estate taxes payable in the year prior to the year of closing and all prior years. Buyer shall pay at Closing the cost of the owner's policy or lender's policy of title insurance (if any), sales tax (if any) resulting from the Closing, the fees required for recording the Deed, the Purchase and Redevelopment Agreement, the assessment agreement and restrictive covenants and all customary closing fees charged by the Title Company or other closing agent to both Seller and Buyer, if any, utilized to close the transaction contemplated by this Agreement. General real estate taxes payable in the year of closing shall be prorated by Seller and Buyer as of the closing date based upon a calendar year. Each party shall pay its own attorney's fees. 8. Condemnation. If, prior to the Date of Closing, all or any part of the Property shall be condemned by governmental or other lawful authority, Buyer shall have the option of (a) completing the purchase contemplated by this Agreement, in which event all condemnation proceeds or claims thereof shall be assigned to Buyer, or (b) canceling this Agreement, in which event the Earnest Money shall be refunded and this Agreement shall be terminated with neither party having any rights against or obligations to the other except rights or obligations under this Agreement which provide for continued exercise following closing or cancellation or other termination of this Agreement, and Seller shall be entitled to any and all condemnation proceeds. 9. Construction of Home. Buyer agrees that it will construct a new single family home on the Property. This covenant shall survive the delivery of the Deed. rd a. The single family home described in this paragraph is referred to as the "Minimum Improvements." b. The Minimum Improvements shall consist of one new single family home, and shall be constructed substantially in accordance with the RFP Guidelines attached as Exhibit E and the proposal approved by Seller on September 28, 2020, attached as Exhibit F. C. Construction of the Minimum Improvements must be substantially completed within one (1) year following Closing. Construction will be considered substantially complete when the final certificate of occupancy has been issued by the City of New Hope building inspector. d. Promptly after substantial completion of the Minimum Improvements in accordance with those provisions of the Agreement relating solely to the obligations of Buyer to construct such Minimum Improvements (including the date for completion thereof), Seller will furnish Buyer with a Certificate of Completion for such improvements. Such certification by Seller shall be (and it shall be so provided in the Deed and in the certification itself) a conclusive determination of satisfaction and termination of the agreements and covenants in the Agreement and in the Deed with respect to the obligations of Buyer and its successors and assigns, to construct the Minimum Improvements and the dates for completion thereof. The certificate provided for in this paragraph of this Agreement shall be in such form as will enable it to be recorded in the Hennepin County Recorder's Office and other instruments pertaining to the Property. If Seller shall refuse or fail to provide any certification in accordance with the provisions of this paragraph, Seller shall, within thirty (30) days after written request by Buyer, provide Buyer with a written statement, indicating in adequate detail in what respects Buyer has failed to complete the Minimum Improvements in accordance with the provisions of the Agreement, or is otherwise in default, and what measures or acts it will be necessary, in the opinion of Seller for Buyer to take or perform in order to obtain such certification. C. Buyer represents and agrees that until issuance of the Certificate of Completion for the Minimum Improvements: (i) Buyer has not made or created and will not make or create or suffer to be made or created any total or partial sale, assignment, conveyance, or lease, or any trust or power, or transfer in any other mode or form of or with respect to this Agreement or the Property or any part thereof or any interest therein, or any contract or agreement to do any of the same, to any person or entity (collectively, a "Transfer"), without the prior written approval of Seller. The term "Transfer" does not include encumbrances made or granted by way of security for, and only for, the purpose of obtaining construction, interim or z permanent financing necessary to enable Buyer or any successor in interest to the Property, or any part thereof, to construct the Minimum Improvements or component thereof. If Buyer seeks to effect a Transfer prior to issuance of the Certificate of Completion, Seller shall be entitled to require as conditions to such Transfer that: (1) any proposed transferee shall have the qualifications and financial responsibility, in the reasonable judgment of Seller, necessary and adequate to fulfill the obligations undertaken in this Agreement by Buyer as to the portion of the Property to be transferred; and (2) Any proposed transferee, by instrument in writing satisfactory to Seller and in form recordable in the public land records of Hennepin County, Minnesota, shall, for itself and its successors and assigns, and expressly for the benefit of Seller, have expressly assumed all of the obligations of Buyer under this Agreement as to the portion of the Property to be transferred and agreed to be subject to all the conditions and restrictions to which Buyer is subject as to such portion; provided, however, that the fact that any transferee of, or any other successor in interest whatsoever to, the Property, or any part thereof, shall not, for whatever reason, have assumed such obligations or so agreed, and shall not (unless and only to the extent otherwise specifically provided in this Agreement or agreed to in writing by Seller) deprive Seller of any rights or remedies or controls with respect to the Property, the Minimum Improvements or any part thereof or the construction of the Minimum Improvements; it being the intent of the parties as expressed in this Agreement that (to the fullest extent permitted at law and in equity and excepting only in the manner and to the extent specifically provided otherwise in this Agreement) no transfer of, or change with respect to, ownership in the Property or any part thereof, or any interest therein, however consummated or occurring, and whether voluntary or involuntary, shall operate, legally, or practically, to deprive or limit Seller of or with respect to any rights or remedies on controls provided in or resulting from this Agreement with respect to the Property that Seller would have had, had there been no such transfer or change. hi the absence of specific written agreement by Seller to the contrary, no such transfer or approval by Seller thereof shall be deemed to relieve Buyer, or any other party bound in any way by this Agreement or otherwise with respect to the Property, from any of its obligations with respect thereto. (3) Any and all instruments and other legal documents involved in effecting the transfer of any interest in this Agreement or the 0 Property governed by this subparagraph shall be in a form reasonably satisfactory to Seller. (iii) If the conditions described above are satisfied then the Transfer will be approved and Buyer shall be released from its obligation under this Agreement, as to the portion of the Property that is transferred, assigned, or otherwise conveyed. The provisions of this paragraph (iii) apply to all subsequent transferors. (iv) Upon issuance of the Certificate of Completion, Buyer may transfer or assign the Minimum Improvements and/or Buyer's rights and obligations under this Agreement with respect to such Property without the prior written consent of Seller. f. Buyer agrees that (a) it will use the Minimum Improvements as only a single family, owner -occupied homes, (b) it will not seek exemption from real estate taxes on the Property under State law, and (c) it will not transfer or permit transfer of the Property to any entity whose ownership or operation of the property would result in the Property being exempt from real estate taxes under State law (other than any portion thereof dedicated or conveyed to the City of New Hope or Seller in accordance with this Agreement). The covenants in this paragraph run with the land, survive both delivery of the Deed and issuance of the Certificate of Completion for the Minimum Improvements, and shall remain in effect for at least 30 years after the Date of Closing. g. Buyer shall comply with all recommendations of the City Engineer. h. Buyer's construction plans shall be approved by the City Building Official. 10. Revesting Title in Seller upon Happening of Event Subsequent to Conveyance to Buyer. In the event that subsequent to conveyance of the Property or any part thereof to Buyer and prior to receipt by Buyer of the Certificate of Completion of the Minimum Improvements, Buyer fails to carry out its obligations with respect to the construction of the Minimum Improvements (including the nature and the date for the completion thereof), or abandons or substantially suspends construction work, and any such failure, abandonment, or suspension shall not be cured, ended, or remedied within thirty (30) days after written demand from Seller to Buyer to do so, then Seller shall have the right to re-enter and take possession of the Property and to terminate (and revert in Seller) the estate conveyed by the Deed to Buyer, it being the intent of this provision, together with other provisions of the Agreement, that the conveyance of the Property to Buyer shall be made upon, and that the Deed shall contain a condition subsequent to the effect that in the event of any default on the part of Buyer and failure on the part of Buyer to remedy, end, or abrogate such default within the period and in the manner stated in such subdivisions, Seller at its option may declare a termination in favor of Seller of the title, and of all the rights and interests in and to the Property conveyed to Buyer, and that such title and all rights and interests of Buyer, and any assigns or successors in interest to and in the Property, shall revert to Seller, but only if the events stated in this paragraph have not been cured within the time periods provided above. 7 Notwithstanding anything to the contrary contained in this paragraph, Seller shall have no right to reenter or retake title to and possession of a portion of the Property for which a Certificate of Completion has been issued. 11. Resale of Reacquired Property; Disposition of Proceeds. Upon the revesting in Seller of title to and/or possession of the Property or any part thereof as provided in paragraph 10, Seller shall apply the Purchase Price paid by Buyer under paragraph 1 of this Agreement as follows: a. First, to reimburse Seller for all costs and expenses incurred by Seller, including but not limited to proportionate salaries of personnel, in connection with the recapture, management, and resale of the Property or part thereof (but less any income derived by Seller from the Property or part thereof in connection with such management); all taxes, assessments, and water and sewer charges with respect to the Property or part thereof (or, in the event the Property is exempt from taxation or assessment or such charge during the period of ownership thereof by Seller, an amount, if paid, equal to such taxes, assessments, or charges (as determined by Seller assessing official) as would have been payable if the Property were not so exempt); any payments made or necessary to be made to discharge any encumbrances or liens existing on the Property or part thereof at the time of revesting of title thereto in Seller or to discharge or prevent from attaching or being made any subsequent encumbrances or liens due to obligations, defaults or acts of the Buyer, its successors or transferees; any expenditures made or obligations incurred with respect to the making or completion of the Minimum Improvements or any part thereof on the Property or part thereof; and any amounts otherwise owing Seller by the Buyer and its successor or transferee; and b. Second, to reimburse Buyer for the balance of the Purchase Price remaining after the reimbursements specified in paragraph (a) above. Such reimbursement shall be paid to Buyer upon delivery of executed, recordable warranty deed to the Property by Buyer to Seller. 12. Notices. All notices required hereunder shall be in writing and shall be deemed to have been duly given and received (a) two (2) business days after depositing of the same in the mail if sent by regular, registered or certified mail, postage prepaid, to the party to whom directed, at such party's address herein set forth; or (b) upon delivery, or attempted delivery if delivered by overnight courier service or hand delivery. Any party shall have the right to designate any other address for notice purposes by written notice to the other party in the manner aforesaid. The addresses of the parties are as follows: SELLER: Economic Development Authority in and for the City of New Hope Kirk McDonald, Executive Director 4401 Xylon Avenue North New Hope, MN 55428-4898 �'3 with copy to: Stacy A. Woods, New Hope Assistant City Attorney Jensen Sondrall Persellin & Woods, P.A. 8525 Edinbrook Crossing, Suite 201 Brooklyn Park, MN 55443 BUYER: GREAT BUY HOMES, INC. Attn: Glenn Hammer 5790 195th Avenue NW Anoka, MN 55303 13. No Broker Involved. Seller and Buyer represent and warrant to each other that there is no broker involved in this transaction with whom it has negotiated or to whom it has agreed to pay a broker commission. Buyer agrees to indemnify Seller for any and all claims for brokerage commissions or finders' fees in connection with negotiations for purchase of the Property arising out of any alleged agreement or commitment or negotiation by Buyer, and Seller agrees to indemnify Buyer for any and all claims for brokerage commissions or fmders' fees in connection with negotiations for purchase of the Property arising out of any alleged agreement or commitment or negotiation by Seller. 14. Remedies. If Buyer defaults under this Agreement, Seller shall have the right to terminate this Agreement by giving written notice to Buyer as provided by law. If Buyer fails to cure such default as provided by law, this Agreement will terminate, and upon such termination Seller will retain the Earnest Money and neither party shall have any rights or obligations against the other except rights or obligations under this Agreement which provide for continued exercise following the cancellation or other termination of this Agreement. If Seller defaults under this Agreement, Buyer's only remedy shall be to terminate the Agreement and recover the Earnest Money paid to Seller. Buyer shall not have any right to the remedy of specific performance 15. Assignment/Prohibition Against Transfer of Property. Buyer may not assign its rights and obligations hereunder without the prior written consent of Seller, which consent may be granted or withheld by Seller in its sole discretion. 16. Miscellaneous. This Agreement shall be governed by the laws of the State of Minnesota. No amendment of this Agreement shall be valid or binding unless executed by authorized representatives of both Seller and Buyer. The headings and captions of this Agreement are for the convenience of the parties only and shall not be looked to in the interpretation or enforcement of this Agreement. Seller and Buyer acknowledge and agree that each has had opportunity to participate in the drafting of this Agreement and accordingly acknowledge and agree that this Agreement as a whole and each of is clauses are not to be interpreted in favor of or against either party. This Agreement may be signed in counterpart, with each copy of the Agreement binding upon the signing party at the time of signing and together which shall constitute a single document. 17. Survival. The Parties representations contained herein shall survive the delivery of the Deed. M IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the above date ("Effective Date"). OVIANNt; Economic Development Authority in and for the City of New Hope By: - )L" Kat Hemken Its: President Dated: September A 8 , 2020 By: Kirk McDonald Its: Executive Director Dated: September A , 2020 STATE OF MINNESOTA ) ss. COUNTY OF HENNEPIN ) I:31j•/ 01 tv GREAT BUY HOMES, INC. By: 11n enn Hammer Its: President ,C�NC�C,�<, J, Dated: Se,tfi6er , 2020 The foregoing instrument was acknowledged before me this gA k day of September, 2020, by Kathi Hemken and Kirk McDonald, the President and Executive Director, respectively, of the Economic Development Authority in and for the City of New Hope, a public body corporate and politic created pursuant to the laws of the State of Minnesota. Auv,� r X Notary Public IVALERIE:J- EONEkM90 to2�6 10 STATE OF MINNESOTA ) •� ) ss. COUNTY OF L The foregoing instrument was acknowledged before me this U day of STeff,4ff, 2020, by Hammer, the President of GREAT BUY HOMES, IN% M' es coIrati'„ on behalf corporation. a / 7 7 /. DRAFTED BY - Jensen Sondrall Persellin & Woods, P.A. 8525 Edinbrook Crossing, #201 Brooklyn Park, MN 55443 (763)424-8811 p_�ao2L9 pIGIRED AD CrERs INC. V15 3RD AVENUE NORTH AN®KA, MN 55303 11 attw�G� LORILEE M DELOSAEYES•STAFF9RD Notary Public i State of Minnesota My Commission Expires January 3 1 2021 Exhibit A Legal Description The North 80 feet of that part of the East 163 feet of Lot 34 lying South of a line drawn parallel to and 280 feet North of the South line of the Northeast Quarter of the Northwest Quarter of Section 17, Township 118, Range 21, Auditor's Subdivision Number 324, Hennepin County, Minnesota. 12 Exhibit B Permitted Encumbrances 1. Restrictions, reservations, covenants and easements relating to use or improvement of the Property without effective forfeiture provisions of record on the Effective Date; 2. Building and zoning laws, ordinances, city, state and federal regulations; 3. Governmental regulations, if any, affecting the use and occupancy of the Property; 4. All rights in public highways upon the land; 5. Easements for public rights -of -way and public and private utilities, which do not interfere with present improvements; 6. Reservations to the State, in trust for the taxing districts concerned, of minerals and mineral rights in those portions of the Property the title to which may have at any time heretofore been forfeited to the State for nonpayment of real estate taxes. 7. The lien of unpaid special assessments, if any, not presently payable but to be paid as a part of the annual taxes to become due; 8. The lien of unpaid real estate taxes, if any, not presently payable but to be paid as part of the annual taxes to become due. 13 Exhibit C Restrictive Covenants See attached. 14 RESTRICTIVE COVENANTS THESE RESTRICTIVE COVENANTS ("Agreement") dated effective the day of November, 2020, by and between the City of New Hope, a Minnesota municipal corporation ("City") and GREAT BUY HOMES, INC., a Minnesota corporation ("Great Buy"). WHEREAS, pursuant to that certain Purchase and Redevelopment Agreement between the City and Great Buy dated effective September 28, 2020 ("Purchase Agreement"), Great Buy purchased the real property located at 4215 Louisiana Avenue North in the City of New Hope from the Economic Development Authority in and for the City of New Hope, a public body corporate and politic created pursuant to the laws of the State of Minnesota ("EDA"), which property is legally described on the attached Exhibit A ("Property") which purchase closed on November 2020; and WHEREAS, Great Buy has committed to constructing a new residential home on the Property pursuant to the terms of the Purchase Agreement; and WHEREAS, the City and Great Buy have agreed Great Buy shall complete the construction of the home as described in the Purchase Agreement within one (1) year of the date of closing on the purchase of the Property; and WHEREAS, the City and Great Buy have agreed the City may levy a $20,000.00 assessment against the Property prior to Great Buy's sale of the Property with the completed home if it is not being sold to an owner -occupant. Further, said assessment may be certified to Hennepin County for collection with real estate taxes payable in a single installment; and WHEREAS, compliance with the restrictions imposed by this Agreement is an additional consideration for the sale of the Property to Great Buy. 1 NOW THEREFORE, for good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, Great Buy agrees as follows: AGREEMENT 1. Restrictive Covenants Great Buy hereby covenants and agrees with the City that the Property is restricted by the following covenants: a) The initial conveyance of the residential dwelling ("Dwelling") constructed upon the Property will be only to "Owner-occupant(s)". "Owner -occupant" is defined as an individual that purchases the Property from Great Buy with a bona fide intent to reside in the Dwelling as a primary residence; and b) The Dwelling constructed on the Property shall be occupied only by the Owner - occupant, and/or by the "Immediate Family Member(s)" of the Owner -occupant for a period of two (2) consecutive years commencing on the date of initial conveyance to an Owner -occupant. "Immediate Family Member" shall only mean a parent, step-parent, child, step -child, grandparent, grandchild, brother, sister, uncle, aunt, nephew or niece. Relationship may be by blood or marriage. 2. Release of Restrictions The Property will be released from the restrictions imposed by this Agreement as follows: a) Upon the issuance of a Certificate of Occupancy for a Dwelling constructed upon the Property and receipt by the City of an Affidavit signed by Great Buy and the Owner -occupant verifying the Owner -occupant's intent to occupy the Dwelling as a primary residence the Property shall be released from the restriction stated in paragraph 1(a) above. b) The Property shall be released from the restriction of paragraph 1(b) above on the two (2) year anniversary of the date the Property was conveyed in compliance with paragraph 1(a). 3. Waiver by City Notwithstanding the restrictions stated above, the City may waive the restrictions stated above upon a finding of hardship or other extenuating circumstances sufficient to justify the waiver in its sole discretion. 4. Agreement to Assessment Great Buy acknowledges and agrees the City may levy a $20,000.00 assessment against the Property if: (a) the Property is not improved with a single family house on or before November , 2021; and/or (b) if Great Buy sells the Property with the completed home to a non -owner -occupant in violation of paragraph 1(a) above. Further, Great Buy agrees the assessment provided by this paragraph may be certified to Hennepin County as a special assessment and collected with the real estate taxes against the Property in a single installment. 5. Waiver by Great Buy Great Buy expressly waives objection to any irregularity with regard to any assessment levied against the Property per this Agreement or any claim that 2 the amount thereof levied against the Property is excessive, together with all rights to appeal the assessment in the courts. 6. Additional Remedies It is further understood that if Great Buy or an Owner -occupant should breach their respective obligations under this Agreement, the City will suffer irrevocable harm from which a recovery of money damages would be an inadequate remedy. It is therefore agreed that the City shall be entitled, as a matter of right, in any Court of competent jurisdiction to a mandatory injunction restraining and enjoining pending litigation, as well as upon final determination thereof, from attempting to violate or violating this Agreement. It is further agreed that the City's rights to such injunctive relief shall be cumulative with and in addition to any other rights, remedies or actions which the City may have. 7. Great Buy's Successors This Agreement shall not be terminated by: a) Voluntary dissolution of Great Buy or any parent, subsidiary or successor of Great Buy; b) Merger whereby Great Buy (or such parent, subsidiary or successor of Great Buy) is not the surviving or resulting entity; or c) Any transfer of all or substantially all of the assets of Great Buy. In the event of any such merger or consolidation or transfer of assets, the provisions of this Agreement shall inure to the benefit of and shall be binding upon the surviving or resulting entity to which such assets shall be transferred. 8. Running of Benefits and Burdens All provisions of this Agreement, including the benefits and burdens run with the land and are binding upon and shall inure to the benefit of the assigns and successors of the parties to this Agreement, such that the provisions of this Agreement shall restrict the Property, and subdivision thereof, notwithstanding any sale or transfer of the Property or any subdivision thereof to a third party. 9. Notices Any notice to be given by a party to this Agreement shall be personally delivered, sent by registered or certified mail, sent by confirmed electronic transmission, or sent by a nationally recognized overnight courier that issues a receipt to the address set forth for the other party in this section (or to such other address as may be designated by notice to the other parties), and shall be deemed given upon the earlier of personal delivery, the date postmarked, confirmation of electronic transmission, delivery to such courier or the refusal to accept such service. If to the City: City of New Hope Attn: Kirk McDonald 4401 Xylon Avenue North New Hope, MN 55428 kmcdonaldgci.new-hope.mn.us 3 If to Great Buy: GREAT BUY HOMES, INC. Attn: Glenn Hammer 5790 1951h Avenue NW Anoka, MN 55303 10. Governing Law All matters relating to the interpretation, construction, validity and enforcement of this Agreement shall be governed by the internal laws of the State of Minnesota. 11. Cumulative Rights Each and all of the various rights, power and remedies of the City in this Agreement shall be considered as cumulative with and in addition to any other rights, powers, or remedies of City, and no one of them is exclusive to the others, or is exclusive to any other rights, powers and remedies allowed by law. The exercise or partial exercise of any right, power or remedy shall neither constitute the election thereof, nor the waiver of any other power or remedy. 12. Amendment This Agreement may be modified or amended only by a written instrument executed by Great Buy and the City. 13. Counterpart Signatures This Agreement may be signed in counterpart, with each copy of the Agreement binding upon the signing party at the time of signing and together which shall constitute a single document. IN AGREEMENT, the parties have executed these Restrictive Covenants effective the day and year first above -written. E City of New Hope GREAT BUY HOMES, INC. Loan Kirk McDonald Its: City Manager Dated: November , 2020 STATE OF MINNESOTA COUNTY OF HENNEPIN } ss. M Glenn Hammer Its: President Dated: November , 2020 The foregoing instrument was acknowledged before me this day of November, 2020, by Kirk McDonald, the City Manager of the City of New Hope, a Minnesota municipal corporation, on behalf of said municipal corporation. (Notary Public Seal) Notary Public STATE OF MINNESOTA } ss. COUNTY OF The foregoing instrument was acknowledged before me this day of November, 2020, by Glenn Hammer, the President of GREAT BUY HOMES, INC., a Minnesota corporation, on behalf of said corporation. (Notary Public Seal) Drafted By: Notary Public JENSEN SONDRALL PERSELLIN & WOODS, P.A. 8525 Edinbrook Crossing, Suite 201 Brooklyn Park, MN 55443 (763)424-8811 5 Exhibit A Legal Description The North 80 feet of that part of the East 163 feet of Lot 34 lying South of a line drawn parallel to and 280 feet North of the South line of the Northeast Quarter of the Northwest Quarter of Section 17, Township 118, Range 21, Auditor's Subdivision Number 324, Hennepin County, Minnesota. P:\Attomey\SAS\l Client Files\2 City of New Hope\99-11438 Purchase of 4215 Louisiana Ave N\Restrictive Covenant - 4215 Louisiana Ave N.docx C Exhibit D Assessment Agreement See attached. 15 ASSESSMENT AGREEMENT THIS ASSESSMENT AGREEMENT ("Agreement") dated effective as of the day of November, 2020, by and between the City of New Hope, a Minnesota municipal corporation ("City") and GREAT BUY HOMES, INC., a Minnesota corporation ("Great Buy"). RECITALS WHEREAS, pursuant to that certain Purchase and Redevelopment Agreement between City and Great Buy dated effective September 28, 2020 ("Purchase Agreement") Great Buy purchased the real property located at 4215 Louisiana Avenue North in the City of New Hope from the Economic Development Authority in and for the City of New Hope, a public body corporate and politic created pursuant to the laws of the State of Minnesota ("BDA"), which property is legally described on the attached Exhibit A ("Property") which purchase closed on November , 2020; and WHEREAS, Great Buy has committed to constructing a new residential home on the Property pursuant to the terms of the Purchase Agreement; and WHEREAS, the City and Great Buy have agreed Great Buy shall complete the construction of the home as described in the Purchase Agreement within one (1) year of the date of closing on the purchase of the Property; and WHEREAS, the City and Great Buy have further agreed the City may levy a $20,000.00 assessment against the Property prior to Great Buy's sale of the Property with the completed home if it is not being sold to an owner -occupant to be owned and occupied by the owner - occupant for at least two (2) years. Further, said assessment may be certified to Hennepin County for collection with real estate taxes payable in a single installment. AGREEMENT 1. Completion of Project Great Buy hereby covenants and agrees with the City that the new home on the Property shall be fully completed on or before November , 2021. Fully completed shall mean the Property shall be improved with a new single-family house. 1 2. Agreement to Assessment Great Buy acknowledges and agrees the City may levy a $20,000.00 assessment against the Property if: (a) the Property is not improved with a single-family house on or before November , 2021; (b) if Great Buy sells the Property with the completed home to a non -owner -occupant; and/or (c) if the Property is leased to a non -owner -occupant in the first two (2) years after initial conveyance. Further, Great Buy agrees the assessment provided by this paragraph may be certified to Hennepin County as a special assessment and collected with the real estate taxes against the Property in a single installment. 3. Waiver by Great Buy Great Buy expressly waives objection to any irregularity with regard to any assessment levied against the Property per this Agreement or any claim that the amount thereof levied against the Property is excessive, together with all rights to appeal the assessment in the courts. 4. Great Buy's Successors This Agreement shall not be terminated by: a) The voluntary dissolution of Great Buy or any parent, subsidiary or successor of Great Buy; b) Merger whereby Great Buy (or such parent, subsidiary or successor of Great Buy) is not the surviving or resulting entity; or c) Any transfer of all or substantially all of the assets of Great Buy. In the event of any such merger or consolidation or transfer of assets, the provisions of this Agreement shall be binding upon the surviving or resulting entity to which such assets shall be transferred. 5. Running of Benefits and Burdens All provisions of this Agreement, including the benefits and burdens run with the land and are binding upon and shall inure to the benefit of the assigns and successors of the parties to this Agreement, such that the provisions of this Agreement shall restrict the Property, and subdivision thereof, notwithstanding any sale or transfer of the Property or any subdivision thereof to a third party. 6. Notices Any notice to be given by a party to this Agreement shall be personally delivered, sent by registered or certified mail, sent by confirmed electronic transmission, or sent by a nationally recognized overnight courier that issues a receipt to the address set forth for the other party in this section (or to such other address as may be designated by notice to the other parties), and shall be deemed given upon the earlier of personal delivery, the date postmarked, confirmation of electronic transmission, delivery to such courier or the refusal to accept such service. If to the City: City of New Hope Attn: Kirk McDonald 4401 Xylon Avenue North New Hope, MN 55428-4898 kmcdonaldkci.new-hope.mn.us 2 If to GREAT BUY: GREAT BUY HOMES, INC. Attn: Glenn Hammer 5790 195th Avenue NW Anoka, MN 55303 7. Governing Law All matters relating to the interpretation, construction, validity and enforcement of this Agreement shall be governed by the internal laws of the State of Minnesota. 8. Cumulative Rights Each and all of the various rights, power and remedies of the City in this Agreement shall be considered as cumulative with and in addition to any other rights, powers, or remedies of the City, and no one of them is exclusive to the others, or is exclusive to any other rights, powers and remedies allowed by law. The exercise or partial exercise of any right, power or remedy shall neither constitute the election thereof, nor the waiver of any other power or remedy. 9. Amendment This Agreement may be modified or amended only by a written instrument executed by Great Buy and the City. 10. Counterpart Signatures This Agreement may be signed in counterpart, with each copy of the Agreement binding upon the signing parry at the time of signing and together which shall constitute a single document. IN AGREEMENT, the parties have executed this Assessment Agreement effective the day and year first above -written. EXECUTION AND NOTARY PAGE FOLLOWS 3 City of New Hope Lo Kirk McDonald Its: City Manager Dated: November , 2020 STATE OF MINNESOTA COUNTY OF HENNEPIN } ss. GREAT BUY HOMES, INC. Un Glenn Hammer Its: President Dated: November , 2020 The foregoing instrument was acknowledged before me this day of November, 2020, by Kirk McDonald, the City Manager of the City of New Hope, a Minnesota municipal corporation, on behalf of said municipal corporation. (Notary Public Seal) Notary Public STATE OF MINNESOTA } ss. COUNTY OF The foregoing instrument was acknowledged before me this day of November, 20203 by Glenn Hammer, the President of GREAT BUY HOMES, INC., a Minnesota corporation, on behalf of said corporation. (Notary Public Seal) Drafted By: Notary Public JENSEN SONDRALL PERSELLIN & WOODS, P.A. 8525 Edinbrook Crossing, Suite 201 Brooklyn Park, MN 55443 (763)424-8811 P:\Attorney\SAS\l Client Files\2 City of New Hope\99-11438 Purchase of 4215 Louisiana Ave N\Assessment Agreement - 4215 Louisiana Ave N.docx C! Exhibit A Legal Description The North 80 feet of that part of the East 163 feet of Lot 34 lying South of a line drawn parallel to and 280 feet North of the South line of the Northeast Quarter of the Northwest Quarter of Section 17, Township 118, Range 21, Auditor's Subdivision Number 324, Hennepin County, Minnesota. 5 Exhibit E Request for Proposal ("RFP") Guidelines See attached. 16 City of New Hope, Minnesota Request For Proposals - 4215 Louisiana Avenue North Date: July 28, 2020 From: The Economic Development Authority (EDA) in and for the city of New Hope Subject: Request for proposals for construction of new single-family home at 4215 Louisiana Avenue North Overview: The city of New Hope EDA owns the property located at 4215 Louisiana Avenue North, New Hope, MN 55428 (PID 17-118-21-21-0034). The EDA is requesting proposals from builders to purchase the vacant lot for the construction of a new single-family home. The lot is being offered as part of the city's scattered site housing program, which focuses on the removal or rehabilitation of distressed properties. The site previously contained a vacant home/office that was razed by the EDA in June of 2020. Enclosed, please find the proposal form and specifications for submitting a proposal. Minimum Lot Price: This lot is being offered at a minimum base price of $60,000. The EDA will consider higher offers for the lot; however, submitting a higher offer does not guarantee selection of a proposal. Submission: Interested bidders must submit enclosed Bid Form by U.S. Mail, e-mail, or in person. Bids shall be submitted to Jeff Alger, Community Development Specialist. City of New Hope Community Development Department Attention: Jeff Alger 4401 Xylon Avenue North New Hope, MN 55428 jalger@newhopemn.gov Deadline: Proposals must be submitted using the enclosed bid form and received no later than August 12, 2020 at 1:00 p.m. City staff will review the submitted proposals and make a recommendation to the EDA. It is anticipated that the EDA will make a selection at the August 24, 2020, meeting. Construction of the new home must be completed in full no later than one (1) year after the closing on the purchase of the lot. }--I City of New Hope, Minnesota V Proposal Form Property Owner: City of New Hope Economic Development Authority (EDA) Property Address: 4215 Louisiana Avenue North, New Hope, MN 55428 Property Identification Number: 17-118-21-21-0034 Minimum Lot Price: This lot is being offered at a minimum base price of $60,000. The EDA will consider higher offers for the lot; however, submitting a higher offer does not guarantee selection of a proposal. This proposal is not a purchase agreement or other binding contract. At this time, the builder is submitting a proposal to purchase this lot for $ ($60,000 minimum), and build a new single-family house in accordance with the RFP guidelines. If a builder's proposal is accepted by the EDA, the builder will be asked to enter into a purchase and development agreement and provide $2,000 earnest money for the lot. Only after such an agreement is signed would a binding contract exist between the EDA and the builder. Company Name: License Number: Address: Telephone: Email: Name & Title: Signature: Date: City of New Hope, Minnesota "V General Notes 1. Only complete proposals will be considered. The city retains absolute discretion in deciding whether or not to accept any particular proposal. 2. State licensed builders who have built at least three (3) houses in Minnesota in the last five (5) years, or have equivalent experience acceptable to the city, are eligible to submit proposals. The home may be speculative or for specific buyers. 3. The city is interested in proposals that will generate the highest valued, owner occupied, single-family home. Owner occupancy restrictions will be documented in the development agreement and secured with a restrictive covenant recorded against the property. The occupancy requirement only applies to the first buyer and lasts for a period of two (2) years. A full legal description relating to this requirement is available upon request. 4. The city would prefer to see a two-story home placed on the site, as the two-story homes built in the program have commanded the highest prices when compared to other home styles such as split -entry. Preference will be given to proposals with the most finished square footage that include high quality exterior materials and upgraded interior amenities. Previously approved plans are available upon request. 5. After proposals have been received, city staff will review and recommend a preferred builder/design at the next regularly scheduled EDA meeting. Within one (1) week of approval by the EDA, the selected builder will enter into a purchase and development agreement that will address the sale of the lot and secure all applicable development and performance standards outlined in the proposal guidelines. At the time of this agreement, the builder will be required to submit a $2,000 nonrefundable earnest money deposit. Closing on the purchase of the lot must take place within 60 days of final EDA approval. The buyer will be responsible for paying the following costs associated with the purchase: • Preparation and issuance of the title commitment. • The cost of the owner's policy or lender's policy of title insurance (if any), sales tax (if any) resulting from the closing, the fees required for recording the deed, the purchase and redevelopment agreement, the assessment agreement and restrictive covenants, and all customary closing fees charged by the title company or other closing agent, if any, utilized to close the transaction contemplated by this agreement (paid at closing). 6. Construction of the new home must be completed within one (1) year of closing on the purchase of the lot. City of New Hope, Minnesota Specifications 1. utilities a. All utility service lines shall be underground. Utilities may locate necessary facilities such as pedestals or boxes in the street right-of-way or utility and drainage easements. b. The builder shall be responsible for any expenses associated with connecting the house to private utilities. c. Municipal water is available into the lot on the east side of the property and the location of the service is marked onsite. The EDA coordinated installation of a new curb stop box in conjunction with demolition of the home/office. d. Municipal sanitary sewer is available into the lot on the east side of the property and the location of the service is marked onsite. The EDA coordinated lining of the existing service from the termination point all the way to the main line in conjunction with demolition of the home/office. 2. Building Standards and Design Guidelines a. All site improvements shall comply with the New Hope City Code. b. The house shall have at least three (3) finished bedrooms and two (2) finished bathrooms. c. The house shall have an attached garage that will accommodate a minimum of two (2) vehicles. Three (3) stall garages are preferred. d. The driveway for the new home must be completely new and fully paved from the street to the garage. Driveways are not allowed within three (3) feet of any property line abutting another property and may not be placed above sewer lines or curb stop boxes. The maximum driveway/curb cut width at the property line is 24 feet for a two -car garage and 28 feet for a three -car garage. The existing curb cut previously served two (2) properties. Installation of a curb and curb cut must meet requirements of the City Code and must be approved by the city's Public Works Department. The new curb cut may not be shared and its location will depend on the configuration of the future home and driveway. Curb installation/restoration must be completed up to Cook Automotive's driveway. Contact the city's Public Work's Department for an inspection before pouring the curb. e. Equipment such as air-conditioning cooling structures or condensers that generate noise shall not be located within the front yard, side setback, or drainage and utility easement. City of New Hope, Minnesota Specifications (continued) f. The design should emphasize the front door as the focal point for the front of the house. A large and usable front porch is desired. Garage door dominance in design should be minimized as much as possible. Front door and garage door designs with windows are preferred. g. Plans should present a balanced and pleasing distribution of wall and window areas from all views. Blank walls are not permitted. To the extent that southern exposures are present, house designs are expected to enhance wintertime natural light and passive solar heating. h. Exterior materials (siding, soffit, doors, and windows) shall be low maintenance. The use of brick or stone accents and incorporation of address numbers is preferred. Vinyl or other low maintenance siding materials are generally acceptable and can be made more desirable through the use of shakes, fish scales, or other styles to break up the pattern. 3. Landscaping a. The lot shall be landscaped to be aesthetically pleasing in all seasons. Land forms and plant materials shall be used to define the site and blend neatly with adjoining properties. The lot area remaining after providing for off-street parking, sidewalks, driveways, buildings, and other requirements shall be landscaped using ornamental grass, shrubs, trees, or other acceptable vegetation or treatment generally used in landscaping. The use of grass seed or hydro -seed is not acceptable for restoration of disturbed areas. All grass that is planted must be sod. Additionally, all lawn areas must be irrigated with underground irrigation systems. The disturbed area within the erosion control logs includes a portion of Cook Automotive's land near the south side of the lot. b. A minimum of one (1) large -species deciduous shade tree shall be planted in the front yard. A minimum of one (1) large -species deciduous shade tree shall be planted in the side or rear yard. Trees should be a minimum of two (2) inches in diameter. A minimum of three (3) coniferous trees at least six (6) feet in height shall be planted in the southwest corner of the lot to screen the Honest-1 Auto building at 7140 42nd Avenue North. Bidders are encouraged to provide additional landscaping along the south property line to aid in screening the Cook Automotive building at 7100 42nd Avenue North. The evaluation process will involve a review of landscaping plans and submissions that include such plans will be viewed favorably. A list of prohibited trees is attached. 1� H City of New Hope, Minnesota "V Specifications (continued) 4. Screening a. A privacy fence shall be installed for the entire length of the south property line (bordering Cook Automotive). The fence shall be seven (7) feet tall within the side and rear yard and 42 inches tall within the front yard, not extending into the right-of-way. Fences up to 8' allowed, over 7' require permit ® Fences up to 42" allowed Bidders are encouraged to submit plans for the fence with their proposal. The style and design are subject to review by city staff. City fence requirements are attached. 5. Setbacks Front Yard Rear Yard Interior Side Yard Interior Side Yard (east) (west) Attached Garage House (north or south) (north or south) 25' 25' 5' 10' 6. Builder Selection Criteria a. Builder must licensed as a Residential Building Contractor in Minnesota. b. Builder shall provide the addresses of three (3) houses they have built in Minnesota within the last five (5) years, or evidence of qualification acceptable to the EDA. c. Builder must be capable of completing the house within one (1) year of closing on the purchase of the lot. City of New Hope, Minnesota Specifications (continued) 7. Required Attachments by Builder • Site plan showing the layout of the home on the lot. Include dimensions and setbacks. • Floor plans with dimensions. Clearly indicate square footages of each floor. • List overall square footage. • List total finished square footage. • Elevations specifying types of exterior materials (color elevations preferred). • Narrative description of the interior trim package. Include description of flooring. • Estimated sale price of the home. • Pictures of similar homes (if available). • Landscaping plan for south property line (encouraged). • Fence plans (encouraged). Attachments • Location map • Sample lot layout • Fence requirements • Curb detail • Prohibited tree list y rk y Z Olt M. I t d t 1 +4` a -a rt YS v r v 1 pg .rye iFov La.i�1�ie�J i { ,..' : �� P, ,{yam r i +r.: a r _ � 1'-• { 1 I i R ' pp � fE C 1. +�1r d S 4 i ..- -. ... � .. _.: .�W .. ..N..a _.... ��. ....o-auV{n'. ,. ." artrr., :..vra. ^R•e.• "���� _� '4 v. m 1 , ,mom i Zvi es 1 S .I - R: i • F s WTI Z Q � is m E 4- _H �� N J Ln cn 1 N � City of New Hope Community Development 4401 Xylon Ave N • New Hope MN 55428 • Phone: 763-531-5127 • Fax: 763-531-5136 • newhopemn.gov Fences Overview • Lots come in varying shapes and sizes, be sure to locate property lines before installing a fence. • Lot and yard definitions are as follows: o Front lot: The boundary abutting a public right-of-way having the least width. o Corner lot: A lot situated at the junction of and abutting on two or more intersecting streets. o Front yard: A yard extending across the front of the lot and lying between the front line of the lot and the nearest line of the building. o Rear yard: A yard extending across the full width of the lot and lying between the rear line of the lot and the nearest line of the principal building. o Side yard: A yard between the side line of the lot and the nearest line of the principal building and extending from the front line of the lot to the rear lot line. • Fence height limits: o Front yard: Up to 42 inches allowed. o Side and rear yards — residential: Up to seven (7) feet allowed without a building permit, up to eight (8) feet allowed with a building permit. o Side and rear yards — commercial and industrial: Over seven (7) feet allowed with a building permit, over eight (8) feet requires a conditional use permit. o Corner lots: When the building front is oriented toward the side yard, fences over 42 inches may not encroach onto the front or side yard, as depicted on reverse side. • A fence over seven (7) feet requires a building permit and must be engineered to withstand a 90 mph wind gust for three (3) seconds. It is required that the plans and building permit application be signed by a professional engineer that is licensed with the state of Minnesota to certify that the fence design satisfies this standard. • Fences are not allowed in the sight triangle on corner lots. The sight triangle is the area beginning at the intersection of the two streets and measuring 20 feet along both property lines to form a triangle. • Fences must be at least 5% open for passage of air, light, and drainage. • All posts or similar supporting instruments used in the construction of fences must face inward toward the property being fenced, unless symmetrical. • No fence may interfere with drainage in the area. • If a storm drainage easement exists, contact the Public Works Department (763-592-6777) to determine how far off the ground the fence should be. • Any fence erected in a utility easement is placed at the risk of the property owner. • No fences are allowed on the public boulevard. • Wood fences must be stained, sealed, painted, or otherwise treated with a decay -resistant material. • The area below the fence must be maintained and weeded. • The following types of fences are prohibited: o Electric o Barbed wire or razor wire o Sheet metal, scrap metal, corrugated metal, or metal building, siding, or roofing material o Plywood or scrap wood o Canvass, nylon, or other non -rigid material or fabric o Cast-off, secondhand, or other materials not originally intended to be used for constructing a fence • It is recommended that fences be placed two (2) feet inside property lot lines for ease of maintenance (with a gate). Ex. Bit. SECTION No Scale 3" Bituminou 3/4" Min. Rise (SPWEA240B) 10% Maximum Variable slope 5 AGGREGATE 6„ o . e ° o. 3p CLASS BASE 0. — a 6/4 8 ' 0 C Gravel Base 1l+— 1 2" 1 2" 3' Gutter slope to be 3/4" per foot slope slope 4 Surmountable concrete curb and gutter 5' Concrete Apron (optional) 6" Concrete 6" Compacted Aggregate Base, Class 5 Forms Required Lip and Back of New Curb /Ek xM2x. 2q�° iobl D wy/Pr `� s, CQr G Come 'doh dine grogemerol ol l / NOTES: Sawcut Typical Street Patch 3.5" Bituminous (SPWEA240C)-,, Compacted Aggregate Base, Class 5 i Provide clean straight edge where existing curb meets new curb by sawing or cutting at nearest construction joint. 3' Transition 5 Stantec C 0 U N C c 0 U T 0 ?:^ W 0- Match above section Minimum thickness 3" compacted in —place Transition Aggregate thickness, as shown above Driveway pavement to match back of concrete curb at this point RESIDENTIAL DRIVEWAY WITH APRON CITY OF NEW HOPE, MN LAST REVISION: AUG. 2019 PLATE NO. STR-10A City of New Hope Forestry Department 5500 International Pkwy • New Hope MN 55428 • Phone: 763-592-6777 • Fax: 763-592-6776 • ci.new-hope.mn.us Prohibited Tree List Trees provide value from an environmental and property value standpoint. They aid in reducing storm water runoff, soil erosion, and water pollution. Other environmental benefits include the improvement of air quality and conservation of energy. Trees have also been shown to increase property values and can help beautify neighborhoods. Tree Preservation Policy The city of New Hope has a Tree Preservation Policy in place, intended to protect and preserve trees when development takes place. The policy applies to commercial, industrial, multiple family, and institutional land use development projects. The city's Tree Preservation Policy requires that significant, preferred trees be replaced at 1 inch to 0.5 inch ratio. The ratio refers to the diameter of the tree in inches (rounding up) and the total number of diameter inches required for replacement. A Significant Tree is considered a healthy tree measuring a minimum of six inches in diameter measured five (5) feet above the existing, natural grade surrounding the tree for deciduous trees for deciduous trees, or a minimum of twelve feet in height for coniferous trees. A Preferred Tree is considered any tree that does not appear on the city's Prohibited Tree list, as shown below. Prohibited Trees The city's Prohibited Tree list includes the following species: • Amur Maple • Black Locust • Boxelder • Ginko (female only) • Green, White, or Black Ash (fraxinus species) • Mulberry • Non -disease resistant elm species • Nonhybrid cottonwood species • Russian Olive Buckthorn • Siberian or Chinese Elm Boulevard Tree Replacement Policy The city of New Hope has also adopted a policy to help homeowners to replace boulevard trees that have been lost to storms, disease, or other causes. The city has a preferred tree list to address tree selection considerations including hardiness, mature size, salt tolerance, pest and disease resistance, rooting habits, maintenance requirements, and soil compatibility. For more information, call 763-592-6763. G:\CommDev\Informationa I Forms for CD and Public\Originals\Prohibited Tree List.docx (07-15) Exhibit F Buyer's Proposed Plans See attached. P:\Attorney\SAS\1 Client Files\2 City of New Hope\99-11438 Purchase of 4215 Louisiana Ave N\Purchase and Redevelopment Agreement 4215 Louisiana Ave N.docx 17 I� H City of New Hope, Minnesota "V Proposal Form Property Owner: City of New Hope Economic Development Authority (EDA) Property Address: 4215 Louisiana Avenue North, New Hope, MN 55428 Property Identification Number: 17-118-21-21-0034 Minimum Lot Price: This lot is being offered at a minimum base price of $60,000. The EDA will consider higher offers for the lot; however, submitting a higher offer does not guarantee selection of a proposal. This proposal is not a purchase agreement or other binding contract. At this time, the builder is submitting a proposal to purchase this lot for $ 6q QQQ ($601000 minimum), and build a new single-family house in accordance Gth the RFP guidelines. If a builder's proposal is accepted by the EDA, the builder will be asked to enter into a purchase and development agreement and provide $2,000 earnest money for the lot. Only after such an agreement is signed would a binding contract exist between the EDA and the builder. Company Name: License Number: Address: �529 U r Telephone: Email: Name & Title: G �- jej �1� f� Signature: Date: &` �' Members of EDA and City Council Included is our submission of the proposal for 4215 Louisiana Av. We are grateful for the chance to potentially partner up with the City of New Hope again as our multi - property site partnership we have with you. We hope it has been as valuable to you as it has been for us. Our goal as a home builder is the same to you as it is to the end consumer: Provide as much value as possible by building highly desirable and aesthetically pleasing homes that will last generations. We are definitely living through some interesting times, and now more than ever we value our long standing relationships both with our subcontractors and our city partners we work with. We consider the City of New Hope to be one of our strongest city partners and we are grateful for your consideration. $380,000 selling price Granite Kitchen counter tops Engineered wood floor in Kitchen & Dining Room House will have 5 bedrooms and 3 bath rooms Side and rear yard we will plant 7 coniferous trees (shown on site plan) 1403 sf finished Main Floor 1134 sf finished Basement (1395 total sf) 2537 sf TOTAL finished Interior to somewhat matches attached pictures sent by email Similar to 7215 82 Av But much larger Sincerely, Glenn Hammer Great Buy Homes Inc. 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No delinquent taxes Transfer Entered LAND TYPE Torrens (T) DOC NUM 5788076 Jan 6, 2021 8:50 AM Certified, filed and/or recorded on Jan 6, 2021 8:50 AM Hennepin County, Minnesota Mark Chapin Office of the Registrar of Titles County Auditor and Treasurer Hennepin County, Minnesota Martin McCormick, Registrar of Titles Mark Chapin, County Auditor and Treasurer Deputy 122 Pkg ID 2144696E CRV# 1189370 PID(s) 17-118-21-21-0034 Existing Certs 1501105 New Certs 1515550 Conservation Fee $5.00 Document Recording Fee $46.00 Environmental Response Fund (SDT .0001) $6.90 State Deed Tax (.0033 rate) $227.70 Document Total $285.60 This cover sheet is now a permanent part of the recorded document. QUIT CLAIM DEED Business Entity to Business Entity eCRV number: 1 � I U DEED TAX DUE: $234.60 Date: December 1, 2020 FOR VALUABLE CONSIDERATION, the Economic Development Authority in and for the City of New Hope, a public body corporate and politic created pursuant to the laws of the State of Minnesota, Grantor, hereby conveys and quitclaims to GREAT BUY HOMES, INC., a corporation under the laws of Minnesota, Grantee, real property in Hennepin County, Minnesota, described as follows: See attached Exhibit A Check here if all or part of the described real property is Registered (Torrens) together with all hereditaments and appurtenances belonging thereto. Grantor certifies that the Grantor does not know of any wells on the described real property. Economic Development Authority in and for the City of New Hope, a public body corporate and politic created pursuant to the laws of the State of Minnesota Its: STATE OF MINNESOTA ) SS. COUNTY OF HENNEPIN Kirk McDonald Executive Director The foregoing instrument was acknowledged before me this 30th day of November, 2020, by Kirk McDonald, the Executive Director of the Economic Development Authority in and for the City of New Hope, a public body corporate and politic created pursuant to the laws of the State of Minnesota, Grantor. (Notarial Stamp or Seal) EC4is JESSICA J WEBER Notary Public State of Minnesota My Commission Expires January31, 2023 THIS INSTRUMENT DRAFTED BY: Jensen Sondrall Persellin & Woods, P.A. 8525 Edinbrook Crossing, Suite 201 Brooklyn Park, MN 55443 (763) 424-8811 -,-Tao. 100 2 CTERS, INC.�GjRED p,SSM 2115 F-D A� � Nu55303 NORTH AND \Aj"W Notar a lie Tax Statements for the real property described in this instrument should be sent to: GREAT BUY HOMES, INC. 5790 195th Avenue NW Anoka, MN 55303 Exhibit A Legal Description The North 80 feet of that part of the East 163 feet of Lot 34 lying South of a line drawn parallel to and 280 feet North of the South line of the Northeast Quarter of the Northwest Quarter of Section 17, Township 118, Range 21, Auditor's Subdivision Number 324, Hennepin County, Minnesota. P:\Attomey\SAS\l Client Files\2 City of New Hope\99-11438 Purchase of 4215 Louisiana Ave N\Quit Claim Deed.docx Existing Certs 1515550 1111111111111111111111 LAND TYPE Torrens (T) DOC NUM 5788080 Certified, filed and/or recorded on Jan 6, 2021 8:50 AM Office of the Registrar of Titles Hennepin County, Minnesota Martin McCormick, Registrar of Titles Mark Chapin, County Auditor and Treasurer Deputy 122 Document Recording Fee Document Total Pkg ID 2144696E $46.00 $46.00 This cover sheet is now a permanent part of the recorded document. RESTRICTIVE COVENANTS THESE RESTRICTIVE COVENANTS ("Agreement") dated effective the 1 st day of December, 2020, by and between the City of New Hope, a Minnesota municipal corporation ("City") and GREAT BUY HOMES, INC., a Minnesota corporation ("Great Buy"). RECITALS WHEREAS, pursuant to that certain Purchase and Redevelopment Agreement between the City and Great Buy dated effective September 28, 2020 ("Purchase Agreement"), Great Buy purchased the real property located at 4215 Louisiana Avenue North in the City of New Hope from the Economic Development Authority in and for the City of New Hope, a public body corporate and politic created pursuant to the laws of the State of Minnesota ("EDA"), which property is legally described on the attached Exhibit A ("Property") which purchase closed on December 1, 2020; and WHEREAS, Great Buy has committed to constructing a new residential home on the Property pursuant to the terms of the Purchase Agreement; and WHEREAS, the City and Great Buy have agreed Great Buy shall complete the construction of the home as described in the Purchase Agreement within one (1) year of the date of closing on the purchase of the Property; and WHEREAS, the City and Great Buy have agreed the City may levy a $20,000.00 assessment against the Property prior to Great Buy's sale of the Property with the completed home if it is not being sold to an owner -occupant. Further, said assessment may be certified to Hennepin County for collection with real estate taxes payable in a single installment; and WHEREAS, compliance with the restrictions imposed by this Agreement is an additional consideration for the sale of the Property to Great Buy. 1 NOW THEREFORE, for good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, Great Buy agrees as follows: AGREEMENT 1. Restrictive Covenants Great Buy hereby covenants and agrees with the City that the Property is restricted by the following covenants: a) The initial conveyance of the residential dwelling ("Dwelling") constructed upon the Property will be only to "Owner-occupant(s)". "Owner -occupant" is defined as an individual that purchases the Property from Great Buy with a bona fide intent to reside in the Dwelling as a primary residence; and b) The Dwelling constructed on the Property shall be occupied only by the Owner - occupant, and/or by the "Immediate Family Member(s)" of the Owner -occupant for a period of two (2) consecutive years commencing on the date of initial conveyance to an Owner -occupant. "Immediate Family Member" shall only mean a parent, step-parent, child, step -child, grandparent, grandchild, brother, sister, uncle, aunt, nephew or niece. Relationship may be by blood or marriage. 2. Release of Restrictions The Property will be released from the restrictions imposed by this Agreement as follows: a) Upon the issuance of a Certificate of Occupancy for a Dwelling constructed upon the Property and receipt by the City of an Affidavit signed by Great Buy and the Owner -occupant verifying the Owner -occupant's intent to occupy the Dwelling as a primary residence the Property shall be released from the restriction stated in paragraph l (a) above. b) The Property shall be released from the restriction of paragraph 1(b) above on the two (2) year anniversary of the date the Property was conveyed in compliance with paragraph 1(a). 3. Waiver by City Notwithstanding the restrictions stated above, the City may waive the restrictions stated above upon a finding of hardship or other extenuating circumstances sufficient to justify the waiver in its sole discretion. 4. Agreement to Assessment Great Buy acknowledges and agrees the City may levy a $20,000.00 assessment against the Property if: (a) the Property is not improved with a single family house on or before December 1, 2021; and/or (b) if Great Buy sells the Property with the completed home to a non -owner -occupant in violation of paragraph 1(a) above. Further, Great Buy agrees the assessment provided by this paragraph may be certified to Hennepin County as a special assessment and collected with the real estate taxes against the Property in a single installment. 5. Waiver by Great Buy Great Buy expressly waives objection to any irregularity with regard to any assessment levied against the Property per this Agreement or any claim that 2 the amount thereof levied against the Property is excessive, together with all rights to appeal the assessment in the courts. 6. Additional Remedies It is further understood that if Great Buy or an Owner -occupant should breach their respective obligations under this Agreement, the City will suffer irrevocable harm from which a recovery of money damages would be an inadequate remedy. It is therefore agreed that the City shall be entitled, as a matter of right, in any Court of competent jurisdiction to a mandatory injunction restraining and enjoining pending litigation, as well as upon final determination thereof, from attempting to violate or violating this Agreement. It is further agreed that the City's rights to such injunctive relief shall be cumulative with and in addition to any other rights, remedies or actions which the City may have. 7. Great Buy's Successors This Agreement shall not be terminated by: a) Voluntary dissolution of Great Buy or any parent, subsidiary or successor of Great Buy; b) Merger whereby Great Buy (or such parent, subsidiary or successor of Great Buy) is not the surviving or resulting entity; or c) Any transfer of all or substantially all of the assets of Great Buy. In the event of any such merger or consolidation or transfer of assets, the provisions of this Agreement shall inure to the benefit of and shall be binding upon the surviving or resulting entity to which such assets shall be transferred. 8. Running of Benefits and Burdens All provisions of this Agreement, including the benefits and burdens run with the land and are binding upon and shall inure to the benefit of the assigns and successors of the parties to this Agreement, such that the provisions of this Agreement shall restrict the Property, and subdivision thereof, notwithstanding any sale or transfer of the Property or any subdivision thereof to a third party. 9. Notices Any notice to be given by a party to this Agreement shall be personally delivered, sent by registered or certified mail, sent by confirmed electronic transmission, or sent by a nationally recognized overnight courier that issues a receipt to the address set forth for the other party in this section (or to such other address as may be designated by notice to the other parties), and shall be deemed given upon the earlier of personal delivery, the date postmarked, confirmation of electronic transmission, delivery to such courier or the refusal to accept such service. If to the City: City of New Hope Attn: Kirk McDonald 4401 Xylon Avenue North New Hope, MN 55428 kmcdonaldkci.new-hope.mn.us 3 If to Great Buy: GREAT BUY HOMES, INC. Attn: Glenn Hammer 5790 195th Avenue NW Anoka, MN 55303 10. Governing Law All matters relating to the interpretation, construction, validity and enforcement of this Agreement shall be governed by the internal laws of the State of Minnesota. 11. Cumulative Rights Each and all of the various rights, power and remedies of the City in this Agreement shall be considered as cumulative with and in addition to any other rights, powers, or remedies of City, and no one of them is exclusive to the others, or is exclusive to any other rights, powers and remedies allowed by law. The exercise or partial exercise of any right, power or remedy shall neither constitute the election thereof, nor the waiver of any other power or remedy. 12. Amendment This Agreement may be modified or amended only by a written instrument executed by Great Buy and the City. 13. Counterpart Signatures This Agreement may be signed in counterpart, with each copy of the Agreement binding upon the signing party at the time of signing and together which shall constitute a single document. IN AGREEMENT, the parties have executed these Restrictive Covenants effective the day and year first above -written. 0 City of New Hope GREAT BUY HOMES, INC. By: By: Kirk McDonald Tenn Hammer Its: City Manager Dated: November 30, 2020 STATE OF MINNESOTA }ss. COUNTY OF HENNEPIN Its: President Dated: N_— 1 92020 The foregoing instrument was acknowledged before me this 30th day of November, 2020, by Kirk McDonald, the City Manager of the City of New Hope, a Minnesota municipal corporation, on behalf of said municipal corporation. (Notary Public Seal) 4 JESSICA J WEBFi 4 Notary Public State of Minnesota My Commission Expires January31, 2023 STATE OF MINNESOTA } ss. COUNTY OF Notary Public The foregoing instrument was acknowledged before me this day of Le , 20205 by Glenn Hammer, the President of GREAT BUY HOMES, INC., a Minnesota corporation, on behalf of said corporation. (Notary Public Seal) yype�NH'r.4, JENNIFER M MOEHLMANN Notary Public -Minnesota My Commission Expires Jan 31, 2024 Drafted By: JENSEN SONDRALL PERSELLIN & WOODS, P.A. 8525 Edinbrook Crossing, Suite 201 Brooklyn Park, MN 55443 (763) 424-8811 -T;zq-T 5 REGISTERED ABSTRACTERS, INC. 2115 3RD AVENUE NORTH ANOKA, MN 55303 Notary Public Exhibit A Legal Description The North 80 feet of that part of the East 163 feet of Lot 34 lying South of a line drawn parallel to and 280 feet North of the South line of the Northeast Quarter of the Northwest Quarter of Section 17, Township 118, Range 21, Auditor's Subdivision Number 324, Hennepin County, Minnesota. PAAttorney\SAS\1 Client Files\2 City of New Hope\99-11438 Purchase of 4215 Louisiana Ave N\Restrictive Covenant - 4215 Louisiana Ave N.docx on Existing Certs 1515550 1111111111111111111111 LAND TYPE Torrens (T) DOC NUM 5788081 Certified, filed and/or recorded on Jan 6, 2021 8:50 AM Office of the Registrar of Titles Hennepin County, Minnesota Martin McCormick, Registrar of Titles Mark Chapin, County Auditor and Treasurer Deputy 122 Document Recording Fee Document Total Pkg ID 2144696E $46.00 $46.00 This cover sheet is now a permanent part of the recorded document. ASSESSMENT AGREEMENT THIS ASSESSMENT AGREEMENT ("Agreement") dated effective as of the I" day of December, 2020, by and between the City of New Hope, a Minnesota municipal corporation ("City") and GREAT BUY HOMES, INC., a Minnesota corporation ("Great Buy"). RECITALS WHEREAS, pursuant to that certain Purchase and Redevelopment Agreement between City and Great Buy dated effective September 28, 2020 ("Purchase Agreement") Great Buy purchased the real property located at 4215 Louisiana Avenue North in the City of New Hope from the Economic Development Authority in and for the City of New Hope, a public body corporate and politic created pursuant to the laws of the State of Minnesota ("EDA"), which property is legally described on the attached Exhibit A ("Property") which purchase closed on December 1, 2020; and WHEREAS, Great Buy has committed to constructing a new residential home on the Property pursuant to the terms of the Purchase Agreement; and WHEREAS, the City and Great Buy have agreed Great Buy shall complete the construction of the home as described in the Purchase Agreement within one (1) year of the date of closing on the purchase of the Property; and WHEREAS, the City and Great Buy have further agreed the City may levy a $20,000.00 assessment against the Property prior to Great Buy's sale of the Property with the completed home if it is not being sold to an owner -occupant to be owned and occupied by the owner - occupant for at least two (2) years. Further, said assessment may be certified to Hennepin County for collection with real estate taxes payable in a single installment. AGREEMENT 1. Completion of Project Great Buy hereby covenants and agrees with the City that the new home on the Property shall be fully completed on or before December 1, 2021. Fully completed shall mean the Property shall be improved with a new single-family house. 1 2. Agreement to Assessment Great Buy acknowledges and agrees the City may levy a $20,000.00 assessment against the Property if: (a) the Property is not improved with a single-family house on or before December 1, 2021; (b) if Great Buy sells the Property with the completed home to a non -owner -occupant; and/or (c) if the Property is leased to a non -owner -occupant in the first two (2) years after initial conveyance. Further, Great Buy agrees the assessment provided by this paragraph may be certified to Hennepin County as a special assessment and collected with the real estate taxes against the Property in a single installment. 3. Waiver by Great Buy Great Buy expressly waives objection to any irregularity with regard to any assessment levied against the Property per this Agreement or any claim that the amount thereof levied against the Property is excessive, together with all rights to appeal the assessment in the courts. 4. Great Buy's Successors This Agreement shall not be terminated by: a) The voluntary dissolution of Great Buy or any parent, subsidiary or successor of Great Buy; b) Merger whereby Great Buy (or such parent, subsidiary or successor of Great Buy) is not the surviving or resulting entity; or c) Any transfer of all or substantially all of the assets of Great Buy. In the event of any such merger or consolidation or transfer of assets, the provisions of this Agreement shall be binding upon the surviving or resulting entity to which such assets shall be transferred. 5. Running of Benefits and Burdens All provisions of this Agreement, including the benefits and burdens run with the land and are binding upon and shall inure to the benefit of the assigns and successors of the parties to this Agreement, such that the provisions of this Agreement shall restrict the Property, and subdivision thereof, notwithstanding any sale or transfer of the Property or any subdivision thereof to a third party. 6. Notices Any notice to be given by a party to this Agreement shall be personally delivered, sent by registered or certified mail, sent by confirmed electronic transmission, or sent by a nationally recognized overnight courier that issues a receipt to the address set forth for the other party in this section (or to such other address as may be designated by notice to the other parties), and shall be deemed given upon the earlier of personal delivery, the date postmarked, confirmation of electronic transmission, delivery to such courier or the refusal to accept such service. If to the City: City of New Hope Attn: Kirk McDonald 4401 Xylon Avenue North New Hope, MN 55428-4898 kmcdonald@ci.new-hope.mn.us 2 If to GREAT BUY: GREAT BUY HOMES, INC. Attn: Glenn Hammer 5790 195thAvenue NW Anoka, MN 55303 7. Governing Law All matters relating to the interpretation, construction, validity and enforcement of this Agreement shall be governed by the internal laws of the State of Minnesota. 8. Cumulative Rights Each and all of the various rights, power and remedies of the City in this Agreement shall be considered as cumulative with and in addition to any other rights, powers, or remedies of the City, and no one of them is exclusive to the others, or is exclusive to any other rights, powers and remedies allowed by law. The exercise or partial exercise of any right, power or remedy shall neither constitute the election thereof, nor the waiver of any other power or remedy. 9. Amendment This Agreement may be modified or amended only by a written instrument executed by Great Buy and the City. 10. Counterpart Signatures This Agreement may be signed in counterpart, with each copy of the Agreement binding upon the signing party at the time of signing and together which shall constitute a single document. IN AGREEMENT, the parties have executed this Assessment Agreement effective the day and year first above -written. EXECUTION AND NOTARY PAGE FOLLOWS 3 City of New Hope By: M, Kirk McDonald Its: City Manager Dated: November 30, 2020 STATE OF MINNESOTA )Ss. COUNTY OF HENNEPIN GREAT BUY HOMES, INC. By:� Glenn Hammer Its: President Dated: December � 2020 The foregoing instrument was acknowledged before me this 30th day of November, 2020, by Kirk McDonald, the City Manager of the City of New Hope, a Minnesota municipal corporation, on behalf of said municipal corporation. ���� s e� Notary Public t$► State of Minnesota My Commission Expires January3l, 2023 STATE OF MINNESOTA } ss. COUNTY OF (r��-NVn, Notary Public The foregoing instrument was acknowledged before me this day of�yeemm '-(, 202% by Glenn Hammer, the President of GREAT BUY HOMES, INC., a Minnesota corporation, on behalf of said corporation. (Notary Public Seal) JENNIFER M MOEHLMANN - a . Notary Public -Minnesota a My commission Expires Jan 31, 2024 Drafted By: Notary Public JENSEN SONDRALL PERSELLIN & WOODS, P.A. 8525 Edinbrook Crossing, Suite 201 Brooklyn Park, MN 55443 (763) 424-8811 P:\Attormy\SAS\1 Client Files\2 City of New Hope\99-11438 Purchase of 4215 Louisiana Ave N\Assessment Agreement - 4215 Louisiana Ave N.docx n(a6Snno A8SMrT7RS, INC. 2115 3RD�/ AV�EN�UEL C f ANC�CA, MN 5'vJJv' Exhibit A Legal Description The North 80 feet of that part of the East 163 feet of Lot 34 lying South of a line drawn parallel to and 280 feet North of the South line of the Northeast Quarter of the Northwest Quarter of Section 17, Township 118, Range 21, Auditor's Subdivision Number 324, Hennepin County, Minnesota. 5