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HomeMy WebLinkAboutResolution - 2008-02 - Fountain Place Release of Development Agreement - 01/08/2008 FOUNTAIN PLACE CITY OF EDEN PRAIRIE HENNEPIN COUNTY, MINNESOTA RESOLUTION NO. 2008-02 A RESOLUTION APPROVING THE RELEASE OF DEVELOPMENT AGREEMENT AND EASEMENT ON LOT 2, BLOCK 1, FOUNTAIN PLACE WHEREAS, the City of Eden Prairie, a Minnesota municipal corporation (the "City") is the beneficiary of that certain Development Agreement, dated July 20, 2004 by and between NAP Fountain Place, LLC, an Ohio limited liability company ("NAP") and the City, and recorded in the Officer of the County Recorder for Hennepin County, Minnesota on August 26, 2004, as Document No. 8425847 and filed in the Office of the Registrar of Titles for Hennepin County, Minnesota on August 30, 2004 as Document No 4010172 (the "Development Agreement"); and WHEREAS, the City is the beneficiary of that certain Conservation/Scenic Easement, by and between NAP and the City dated December 28, 2004 and recorded in the Office of the Registrar of Titles for Hennepin County, Minnesota on January 6, 2005, as Document No. 4062377 (the"Easement"); and WHEREAS, the Development Agreement and the Easement were not intended to encumber the real property described on Exhibit A attached hereto (the "Real Property"). NOW THEREFORE, BE IT RESOLVED by the City Council of Eden Prairie, Minnesota, as follows: 1. That the Development Agreement is hereby released as it relates to the Real Property and further releases the Real Property from the burdens imposed by the Easement. 2. This Release of Development Agreement and Easement shall be recorded in the Office of the County Recorder for Hennepin County, Minnesota and filed in the Office of the Registrar of Titles for Hennepin County, Minnesota. ADOPTED by the City Council of the City of Eden Prairie this 8 h day of January, 2008. P 1 Young, M r ATTEST: Katbleen Porta, City Clerk EXHIBIT A Legal Description Lot 2, Block 1, Fountain Place, according to the recorded plat thereof, Hennepin County, Minnesota. (Abstract Property and Torrens Property, Certificates of Title Nos. 1148193 and 1148193.5)