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Yellowstone Trail 24240- PAID in FULLASSESSMENT AGREEMENT THIS AGREEMENT is made thisZday of c&uoi be&r, 204by and between the City of Shorewood (SHOREWOOD), a municipal corporation organized under the laws of the State of Minnesota, located at 5755 Country Club Road, Shorewood, MN 55331 and Arthur A. Beniek and Charlotte C. Beniek, 24240 Yellowstone Trail, Shorewood, MN 55331 (OWNERS). RECITALS WHEREAS, the OWNERS are the owner of The Real Property located at: 24240 Yellowstone Trail, Shorewood, MN 55331; PID 33-117-23-41-0012 (PROPERTY); and, WHEREAS, the OWNERS desire to connect to the municipal water supply; and, WHEREAS, the present Water Access Charge is $10,000, AGREEMENT NOW THEREFORE, pursuant to the mutual agreements provided herein, it is agreed by and between the CITY and the OWNERS as follows: 1. The OWNERS represent and warrant that they are the OWNERS of the PROPERTY and that they have full legal authority to encumber the PROPERTY and that as of the date of the execution of this agreement, the OWNERS have fee title to the Property subject only to the liens, interests or encumbrances of record. 2. The OWNERS understand and request to levy the Water Access Charge assessed against the PROPERTY in the amount of $10,000. 3. The OWNERS understand and agree that SHOREWOOD will provide that the assessment is payable in ten (10) annual installments and will bear an interest rate of zero (0.0) percent per annum. Said assessments shall begin with taxes paid in 2021 and collected with the ad valorem taxes at the times due as determined by Hennepin County. 4. The OWNERS agree that the covenants, waivers and agreements contained in this Agreement shall bind the successors and assigns of the OWNERS and shall encumber the PROPERTY in accordance with the agreements described herein. 5. The OWNERS hereby waive notice of public hearing and waive the public hearing required by Minnesota Statutes §429.031 with respect to the assessment. 6. The OWNERS waive their rights in all respects, pursuant to Minnesota Statutes §429.081, to appeal to district court, the levy of the water assessment charge described herein. 7. The parties agree that this Agreement shall be recorded with the Hennepin County Recorder. OWN By: .9 ��W I d NN �4 CITY OF SHOREWOOD By: By: STATE OF MINNESOTA ) SS: COUNTY OF HENNEPIN ) Date: I C— — Z. (v — Z U k Date: I A -02 6 - ,; © % Date: Date: i— ) L OZ 0 The foregoing ASSESSMENT AGREEMENT dated /Was sworn and subscribed before me in person this day of 20M by and ary Public IV �t BRH- 4DA K. PRICCO NOTARY PUBLIC - MINNESOTA s My CaTr E�ires Jan. 31, 2020 STATE OF MINNESOTA ) SS: COUNTY OF HENNEPIN ) The foregoing ASSESSMENT AGREEMENT dated ii'%o�cP�AlaS sworn and subscribed before me in person this day of 2y Scott Zerby, Mayor, and by Greg Lerud, City Administrator of the City of Shorewood ( innesota Municipal Corporation), who are personally known to me, on behalf of the Corporation and pursuant to the authority of the City Council. r ��- Notary Public - .:ems• = ���:,<.,_ ��;.-z: ��: - •, BRENDA K. PRICCO NOTARY PUBX - MiNNESOTA Aty Cos Nssfen Expires Jan. 31, 2020 DRAFTED BY: Greg Lerud City Administrator City of Shorewood