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Letter to Grant Komminga 10-12-05 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 Park & Recreation 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 WWV/.ci .chanhassen.mn.us \. October 12, 2005 Mr. Grant Komminga Vice President Allen-Lee Homes, Inc. 510 Chestnut Street, Suite 202 Chaska, MN 55318 Re: Reassignment of Landscaping Requirements - Highlands at Bluff Creek Planning Case 04-01 Dear Mr. Komminga: On October 10, 2005, the Chanhassen City Council Assignment Agreement whereby Plowshares landscape requirements of the development the enclosed assigns the Homes, Inc. Robert Generous, AICP Senior Planner RG:ktm Enclosure ec: Jill Sinclair, g:\plan\2004 planning cases\04COI The City ot 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. ASSIGNMENT AGREEMENT AGREEMENT dated Dc...\obe.( lO ,2005, by, between, and among the CITY OF CHANHASSEN, a Minnesota municipal corporation ("City"), PLOWSHARES DEVELOPMENT, LLC, a Minnesota limited liability company ("ASSIGNOR"), and ALLEN-LEE HOMES, INC., a Minnesota corporation ("ASSIGNEE"). 1. DEVELOPMENT CONTRACTIPUD AGREEMENT. The City and Assignor have entered into a Development Contract/PUD Agreement dated June 14, 2004 for Highlands at Bluff Creek ("Development Contract") which is incorporated herein by reference. 2. LANDSCAPING. The Development Contract requires the Assignor to do certain landscaping. Landscaping requirements are set forth on Plan D incorporated by reference in the Development Contract and in paragraphs 13 and 14 of the General Conditions of the Development Contract ("Landscape Requirements"). 3. ASSIGNMENT. The Assignor assigns the Landscape Requirements of the Development Contract to Assignee and Assignee accepts the assignment. Assignee agrees to fulfill the Landscape Requirements of the Development Contract. Subject only to the limitation that Assignee's improvement obligations under the Development Contract are limited to the Landscape Requirements, the entire Development Contact shall apply to the performance of Assignor's obligations and the City's rights and remedies. This includes responsibility for landscaping completed prior to the date of this Assignment Agreement. The City approves the assignment. 4. SECURITY. To guarantee compliance with the terms of this Agreement, Assignee shall furnish the City with a letter of credit in a form acceptable to the City, from an institution acceptable to the City, or a cash escrow of $34,166.00. The City may draw down the security, without notice, for any violation of the terms of this Agreement. If the required public improvements are not completed at least thirty (30) days prior to the expiration of the security, the City may also draw it down. If the security is drawn down, the draw shall be used to cure the default. With City approval, the security may be reduced from time to time. 5. NOTICE. Required notices to the Assignee shall be in writing, and shall be either hand delivered to the Assignee, its employees or agents, or mailed to the Assignee by registered mail at the following address: Allen-Lee Homes, Inc. Grant Komminga, Vice President 510 Chestnut Street, Suite 202 Chaska, Minnesota 55318 120514vOl RNK:09/01/2005 1 Notices to the City shall be in writing and shall be either hand delivered to the City Manager, or mailed to the City by registered mail in care of the City Manager at the following address: Chanhassen City Hall, 7700 Market Boulevard, P.O. Box 147, Chanhassen, Minnesota 55317. CITY OF CHANHASSEN BY: Thomas A. Furlong, Mayor AND Todd Gerhardt, City Manager PLOWSHARES DEVELOPMENT, LLC BY:~~~. Its c1-.;.ef ~~'\ 1C.r ALLEN-LEE HOMES, INC. BY: Its 120514vOl RNK:09/01/2005 2