1d Approve Development Contract for Frontier 2rd Addition
CITY OF
CHANHASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
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Phone 952.227.1100
Fax 952.227.1110
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Web Site
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MEMORANDUM 0 .
(',
TO: Paul Oehme, City Engineer/Public Works Director
FROM: Alyson Fauske, Assistant City Engineer Gl'{ ,,~.
DATE:
January 23,2006
SUBJ:
Approve Assignment of Development Contract for Frontier 3rd
Addition - Project No. 03-07 (Simple Majority Vote Required)
On November 8, 2004, the City Council approved the development contract for
Frontier 3rd Addition Subdivision. In conjunction with the sale of the property,
the developers, Charles R. Stinson and Robert G. Bolling, have requested that the
development contract be assigned to Boyer Building Corporation.
The developer has met the terms of Paragraph 8, Part A, having paid the
$9,517.00 cash fee on February 23,2004.
RECOMMENDA TION
Staff recommends that City Council approve the assignment of the development,
subject to the following conditions:
1. Boyer Building Corporation is required to submit a letter of credit in the
amount of $54,109.00 before the Agreement is executed by the City.
2. Before the Agreement is executed by the City, the Mortgage Holder
Consent to Assignment of Development Contract, if applicable.
3. A $56 cash fee for recording purposes must be submitted before the City
executes the Agreement.
4. The conditions of approval stipulated in the November 8, 2004
development contract remain as stated, with the exception of Paragraph 8,
Part A regarding payment of cash fees.
5. Boyer Building Corporation is required to submit a request to extend the
time of performance for the proposed public improvements for City
Council consideration at a future meeting.
Attachments: January 4,2006 fax from Charles Stinson
Assignment of Development Contract
c: Charles Stinson
John Boyer
G:\ENG\PROJECTS\Frontier 3rd (formerly Lahaye Addition)\Assign DC BoyeLdoc
The City of Chanhassen · A growing community with clean lakes, quality schools, a charming downtown, thriving businesses, Winding trails, and beautilul parks A great place to live, work, and play.
e~O~1:50a
CHARLES STINSON
(612]473-4371
CHARLES R. STINSON ARCHITECTS
WWW.CRURCH.COM
2./ +/200 F5'
.
Ms. Alyson Fauske
Assistant City Engineer
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Dear Ms. Fauske:
I am requesting that the Development Contract for Frontier 3rd
Addition
be placed on the January 23, 2006 City Council agenda for a
modification; specifically, changing the name of the developer from
CHARLES R. STINSON & ROBERT G. BOLLING to Boyer Building
Corporation.
The conditions of approval remain as previously approved.
If you have any questions, please feel free to contact me at
952-473-9503.
Sincerely,
1i1952.473.9503 11952.473.4371 IJINFO@CRSARCH.COM
18304 MINNETONKA BOULEVARD, DEEPHAVEN. IIIN 55391
p.l
fA.':l
(reserved for recording information)
ASSIGNMENT OF
DEVELOPMENT CONTRACT
AGREEMENT dated , 20_, by, between, and among the
CITY OF CHANHASSEN, a Minnesota municipal corporation ("City"); Charles Stinson,
Charles R. Stinson Architects (the "Developer"); and Boyer Building Corporation (the
"Successor Developer").
RECITALS
A. The City and the Developer have entered into a Development Contract dated
November 8, 2004, concerning the plat of Frontier Third Addition, recorded with the Carver County
Recorder's office on August 4, 2005 as Document No. A420380 (the "Development Contract").
B. The Developer has asked the City to approve the assignment of its rights and
obligations under the Development Contract to the Successor Developer.
C. Paragraph K of the Development Contract authorizes the City to approve the
assignment of the Development Contract.
NOW, THEREFORE, IN CONSIDERATION OF THEIR MUTUAL COVENANTS
THE PARTIES AGREE AS FOLLOWS:
1. ASSIGNMENT. The Developer's rights and obligations under the Development
Contract are assigned to the Successor Developer subject to the terms of this Assignment. The
Successor Developer accepts the assignment and agrees to be bound by its terms.
2. EFFECTIVE DATE OF ASSIGNMENT. This Assignment shall be effective
when the Successor Developer furnishes the City the security required by the Development
Contract.
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3. BINDING EFFECTIRECORDING. This Assignment may be recorded against
the title to the land described in the Development Contract and is binding upon the parties, their
successors, heirs, and assigns.
CITY OF CHANHASSEN
BY:
Thomas A Furlong, Mayor
(SEAL)
AND
Todd Gerhardt, City Manager/Clerk
DEVELOPER:
BY:
Charles R Stinson
BY:
Robert G. Bolling
SUCCESSOR DEVELOPER:
BY:
John Boyer, Owner and Treasurer
Boyer Building Corporation
STATEOFMlNNESOTA )
( ss.
COUNTY OF CARVER )
The foregoing instrument was acknowledged before me this day of
, 20_, by Thomas A Furlong and by Todd Gerhardt, the Mayor and City
Manager/Clerk of the City of Chanhassen, a Minnesota municipal corporation, on behalf of the
corporation and pursuant to the authority granted by its City Council.
NOTARYPUBUC
122852vOl
RNK:O 1/1 0/2006
2
STATE OF MINNESOTA )
( ss.
COUNTY OF )
The foregoing instrument was acknowledged before me this
20-, by
of , on
day of
the
behalf of the
corporation/company.
STATEOFMINNESOTA )
( ss.
COUNTY OF )
NOTARY PUBLIC
The foregoing instrument was acknowledged before me this
20_, by
of
corporation/company.
DRAFfED BY:
CAMPBELL KNuTSON
Professional Association
317 Eagandale Office Center
1380 Corporate Center Curve
Eagan, Minnesota 55121
(651) 452-5000
RNK
122852vOl
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day of
the
, on behalf of the
NOTARY PUBLIC
3
MORTGAGE HOLDER CONSENT
TO ASSIGNMENT OF DEVELOPMENT CONTRACT
which holds a mortgage on the
property described in the Development Contract referenced in the foregoing Assignment, for good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, does
hereby join in, consents, and is subject to the foregoing Assignment of Development Contract and
agrees that the Development Contract referenced therein shall remain in full force and effect even if
it forecloses on its mortgage.
Dated this
day of
,20_
BY:
Its
AND:
Its
STATEOFMINNESOTA )
( ss.
COUNTY OF )
The foregoing instrument was acknowledged before me this
, 20----, by
day of
and by
and
the
of
on behalf of the
NOTARY PUBLIC
122852vOl
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4