HomeMy WebLinkAbout95-05 - ADMIN Resolution - Economic Development Authority - 1995/08/0708/03/95 09:20 FAX 012 334 8888 POPHAM HAIR Q002/005
RESOLUTION 95-5
CERTIFICATE OF COMPLETION
AND RELEASE OF FORFEITURE
WHEREAS, the SL Louis Park Economic Development Authority (the "Grantor'), a
public body corporate and politic, by a Deed recorded in the Office of the County Recorder
or the Registrar of Titles in and for the County of Hennepin and State of Minnesota, as Deed
Document No. 2491672, has conveyed to PNMC Holdings, a non-profit corporation under the
laws of Minnesota (the "Grantee"), the following described land (the "Redevelopment
Property") in the County of Hennepin and State of Minnesota, to -wit:
Lots 4 and 5, Block 1, Tower Place
and
WHEREttS, said Deed incorporated and contained certain covenants and restrictions,
the breach of which by the Grantee, its successors and assigns, would result in a forfeiture
and right of re-entry by the Grantor, its successors and assigns, said covenants and restrictions
being set forth in said Deed and in a Contract for Private Development, executed by and
among the Granter and the Grantee and dated April 8, 1993 (the "Redevelopment
Agreement"); and
WHEREAS, the Grantee has to the present date performed said covenants and
conditions insofar as it is able in a manner deemed sufficient by the Grantor to permit the
execution and recording of this certification;
NOW, THEREFORE, this is to certify that all building construction and other
physical improvements specified to be done and made by the Grantee have been completed
and the above co-venants and conditions in said Deed and Development Agreement have been
performed by the Grantee therein and that the provisions for forfeiture of title and right to
re-entry for breach of condition subsequent by the Grantor contained therein are hereby
released absolutely and forever insofar as they apply to the land described herein, and the
County Recorder or the Registrar of Titles in and for the County of Hennepin and State of
Minnesota is hereby authorized to accept for recording and to record the filing of this
instrument, to be a conclusive determination of the satisfactory termination of the covenants
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and conditions of the contract referred to herein which would result in a forfeiture by the
Grantee, its successors and assigns, and right of re-entry in the Grantor, its successors and
assigns, as set forth in said Deed, and that said Deed shall otherwise remain in full force and
effect.
THE ST. LOUIS PARK ECONOMIC
DEVELOPMENT AUTHORITY
By: c^''
I
STATE OF MINNESOTA )
) SS.
COUNTY OF HENNEPIN )
The foregoing instrument was acknowledged before me on , 1995,
by and the and the
respectively, of THE ST. LOUIS PARK ECONOMIC DEVELOPMENT
AUTHORITY, a public body corporate and politic, on behalf of the corporation.
Notary Pu tic
THIS INSTRUMENT WAS DRAFTED BY:
Popham, Haik, Schnobrich & Kaufman, Ltd.
222 South Ninth Street, Suite 3300
Minneapolis, MN 55402
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