First Amendment to DC 2014-11F'[R.ST AMENDMENT
TO
DEVELOT'MENT CONTRACT
TII{S FIRST AMENDNIENT TO DEVELOPMENT CONTRACT ("Amendment") is made
this ltl-'llay r:f UGU S,li-2023, by and bel.ween the CITI' OF CHANI{ASSEN, a Ivlinnesota municipal
corp6ratiol ("Citr,";. and DAKOTA RETAIL, LLLP, a Minnesota limited liability limited partnership (the
"Orvnefl ' anri " iic,.'ekrper").
IdECII'ALS
A. L)er.eloiler is the "r?e owner o[ certain real property located at 190 Lake Drive, Chanhassen, MN
55311 and legally described as:
Lol l. Block l, Dakota Retail. (larl'er County, Minnesota, according to the recorded plat thereof ("Subject
Property");
B. The City and Developer pleviousiy entered into a Development Contract dated October 10,2022 and
fi}ed of record on C)ctober 17.2Q2?- with the Claner County Recorder as Document No. A753391 concerning the
conversion rif portion of the building lr:cated on the Subject Property ("Development Contract");
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C. The City and Deveioper ciesire to amend the Development Contract to extend the date review the
need for additional parking spaces.
NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS:
1. Paragraph 4 of the Development Contract s hereby amended in its entirety to read as follows:
4. If, prior to October lA, ?024, the City deterrnines, in its sole discretion, that the parking
demand exceeds the number c,f constructed parking spaces, the City may terminate the parking deferment
granted herein and require Developer, upon written notice from the City, to construct l0 additional parking
spaces, the construction of which has been deferred pursuant to the Development Contract, and install
concrete curb and gutter at the time those additional 10 spaces are striped for parking. If Developer fails to
construct the 10 deferred parking spaces, additional improvements required under Paragraph 3 of the
Development Contract, or fails to execute the private stormwater maintenance agreement required under
Paragraph 2 within six (6) months after so requested by the City, the City may rescind the certificate of
occupancy for the building located on tire Subject Propertv.
2. Except as herein amendeci, the Development Contract shall remain in full force and effect.
IN WITNESS WHERBOp, the parties have caused this Atnen<lment to be executed this Z&ITH day of
AVE.;11 __,2023.
[The remainder of this page has been intentionally left blank.
Signature pages follow. J
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CI TY OB. CIIAIT{TIASSEN
By:
Ryan, Mayor
And
(sEAL)
--:- -.: \
STATE OF MTNNESOTA
COLINTY OF CARVER
)
)ss
)&,The foregoing instrument was ackncrwledged before me this 2023. by Elise
a Minnesotallyan and by Laurie Hokkanen, respectively the Mayor and City Manager of the
rnunicipal corporation, on behalf of the corporation and to the authority granted by its City Council.
Notary
)
MEUWISSEN
Public-Minnesota
TKIM
Notary 2t25Jan 31,Ex6ircCdmtlssiort
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DEVELOPER:
DAKOTA RETAIL. LLLP
By:
Its Managing Partner
I
,",U6cottrS$
s IArE or Narwr5frf )
)ss.
)COLTNTY OFS .&?I
or i\r"rtP+,2023,by
Dario Klasik, the Managing Partner of Dakota Retail. LLLP, a Minnesota iimited liability limited partner, on its
behalf.
U^
Public
DRAFTED BY:
CAMPBELL, KNUTSON
Profes sio nal As s o ciation
Grand Oak Office Center I
860 Blue Gentian Road, Suite 290
Eagan, MN 55121
Telephone: (651) 452-5000
aMP
The foregoing instrument rvas acknolvledged before me this B!ts aav
4
IE OT
+oz
{x
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MORTGAGE HOLDER CONSENT
TO
FIRST AMENDMBNT TO DEVELOPMENT CONTRACT
HIAWATHA NATIONAL BANK, a Wisconsin Chartered Bank, which holds a mortgage on all or part of
the Property more particularly described in the foregoing First Amendment to Development Contract, which
mortgage is dated October 1,2021, recorded November 22,2021, as Carver County Document No. A737561, and an
Assignment of Rents dated October l, 2021, recorded November 22, 2021, as Carver County Document No.
A737562 (collectively "Mortgage"), agrees that the First Amendment to Development Contract shall remain in full
force and effect even if it forecloses on its Mortgage.
Dated this day of 6\2023
HIAWATHA NATIONAL BANK
By:
Its
vb
STATE OF WTSCONSTN )
)ss.
couNTY oF sT. cRorx )
IPrint name]
ITitle]
2023,by
National Bank, a\
The foregoing instrument was acknowledged before me this A- day of \:.\
<:.( r e.*.t\:.or the Q\rsJ V.'oor- ot€ics,- of
Wisconsin B ank, on behalf of said entity
\\o lA,tP Notary Public
a
a
Pueu\G
OF
lltil(. r, lt
DRAFTED BY:
C.l,mPBELL, KxursoN
Professio nal Asso ciatio n
Grand Oak Office Center I
860 Blue Gentian Road, Suite 290
Eagan, MN 55121
Telephone: (65 I ) 452-5000
AMP
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