1d. Approve Assignment of Development Contract for Orchard Green Project.
CITY OF
CHANHASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone 952.227.1100
Fax: 952.227.1110
Building Inspections
Phone: 952.227.1180
Fax 952.227.1190
Engineering
Phone 952.227.1160
Fax 952.227.1170
Finance
Phone 952.227.1140
Fax 952.227.1110
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Phone 952.227.1120
Fax 952.227.1110
Recreation Center
2310 Coulter Boulevard
Phone 952.227.1400
Fax 952.227.1404
Planning &
Natural Resources
Phone 952.227.1130
Fax 952.227.1110
Public Works
1591 Park Road
Phone: 952.227.1300
Fax: 952.227.1310
Senior Center
Phone 952.227.1125
Fax 952.227.1110
Web Site
www.ci.chanhassen.mn.us
1cL
MEMORANDUM
~C?
Paul Oehme, City Engineer/Public Works Director "r .
Alyson Faoske, Assistant City Engineer ~t elI..
October 23, 2006 ~
TO:
FROM:
DATE:
SUBJECT:
Approve Assignment of Development Contract for Orchard Green-
Project No. 06-04 (Simple Majority Vote Required)
On February 13, 2006, City Council approved the development contract for
Orchard Green. The developer has requested that the development contract be
assigned to Reverence, LLC, owner of the property.
The developer has met the terms of Paragraph 8, Part A, having paid the
$44,937.50 cash fee on March 28, 2006.
Reverence, LLC has submitted a cash escrow in the amount of $4,000.00 and the
$46 recording fee has been submitted.
The fully executed Mortgage Holder Consent to Assignment of Development
Contract has been submitted.
RECOMMENDA TION
Staff recommends that City Council approve the assignment of the development,
subject to the following condition:
The conditions of approval stipulated in the February 13, 2006
development contract remain as stated, with the exception of Paragraph 8,
Part A regarding payment of cash fees.
Attachment: Assignment of Development Contract
c: Peter Knaeble
Tom W. Raymond, Reverence LLC
G:\ENG\PROJECTS\K-O\Orchard Green\Assign DC 1O-23-06.doc
The City of Chanhassen · A growing community with clean lakes, quality schools, a charming downtown, thriving businesses, winding trails, and beautiful parks. A great place to live, work, and play.
(reserved for recording information)
ASSIGNMENT OF
DEVELOPMENT CONTRACT
AGREEMENT dated I Q II1I 0 b , 2006, by, between, and among the CITY
OF CHANHASSEN, a Minnesota municipal corporation ("City"); PETER J. KNAEBLE, an
individual, and MATTHEW R PAVEK, an individual (hereinafter collective the "Developer");
and REVERENCE, LLC, a Minnesota limited liability company (the "Successor Developer").
RECITALS
A The City and the Developer have entered into a Development Contract dated
February 13, 2006, concerning the plat of ORCHARD GREEN, recorded with the Carver County
Recorder's office on June 30, 2006 as Document No. T158957 ("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 23K of the Development Contract authorizes the City to approve the
assignment of the Development Contract.
NOW, mEREFORE, IN CONSIDERATION OF mEIR MUTUAL COVENANTS
mE 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. TRUNK SANITARY SEWER AND WATER HOOK-UP CHARGES. It is
understood by the parties hereto that the trunk sanitary sewer and water hook-up charges for the plat
of ORCHARD GREEN are due with the building permit at the rate in effect at the time of building
permit application. The party applying for the building permit is responsible for paying these fees.
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1
CHAN:OR.CHARD GREEN
3. EFFECTIVE DATE OF ASSIGNMENT. This Assignment shall be effective
when the Successor Developer furnishes the City the security required by the Development
Contract. Since most of the work required under the Development Contract has already been
completed, the amount of the security to be furnished by the Successor Developer is $4,000.00.
4. NOTICES. Required Notices to the Successor Developer shall be in writing, and
shall be either hand delivered to the Successor Developer, its employees or agents, or mailed to the
Successor Developer by registered mail at the following address:
Reverence, LLC
1969 Lakeside Lane
Mound, MN 55364
5. BINDING EFFECT/RECORDING. 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:
; 1- ;14
MATTHEW R. PAVEK, an individual
REVERENCE, LLC
BY:
1 27826vO1
2
CHAN:ORCHARD GREEN
STATE OF MINNESOTA )
( ss.
COUNTY OF CARVER )
The foregoing instrument was acknowledged before me this day of
, 2006, 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.
NOTARY PUBLIC
STATE OF MINNESOTA
)
( ss.
)
COUNTYOF~~(\
(ft--
instrument was acknowledged before me this I
2006, by Peter J. Knaeble, an individual, as Develo er.
day of
D ~e foregoing
I( tx(
Julie A Thelemann
Notary Public
Minnesota
M Commission E Ir.. Jan. 31 2009
instrument was acknowledged before me this ~
, 2006, by Matthew R. Pavek, an individual, as Deve op
)
( ss.
)
STATE OF MINNESOTA
COUNTY OF WflfllP'(\
day of
1 27826vOl
3
CHAN:ORCHARD GREEN
ST ATE OF MINNESOTA) Julie A Thelemann
( ss. Notary Public
COUNTY OF ~11/ltP1D ) M comml~~~el~~~.31,2009
,he foregoing instrument was acknowledged before me this ( f ~ day of
cr......1D~ r ' 2006, by Tom W. Raymond, the President of Reverence, LLC, a
Minnesota limited liability company, on behalf of the company.
DRAFfEDBY:
CAMPBELL KNuTSON
Professional Association
317 Eagandale Office Center
1380 Corporate Center Curve
Eagan, Mimlesota 55121
(651) 452-5000
RNK:sm
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4
CHAN:ORCHARD GREEN
MORTGAGE HOLDER CONSENT
TO ASSIGNMENT OF DEVELOPMENT CONTRACT
FffiST COMMERCIAL BANK, a Minnesota banking corporation, 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 L day of Ot--b[yI , 2006.
~ SVP
(?
STATEOFMINNESOTA )
f L '^ ~ . 1\; ^ ( ss.
COUNTY OF ~)
me this -Ll~
day of
and by
and
banking
Bank, a Minnesota
~~
NOTARY PUBLIC
DRAFfEDBY:
CAMPBELL KNUTSON
Professional Association
317 Eagandale Office Center
1380 Corporate Center Curve
Eagan, Minnesota 55121
(651) 452-5000
RNK:sm
127826vOl
5
CHAN:ORCHARD GREEN