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HomeMy WebLinkAbout1960 10-24 CCM Regular Session Minutes of the Proceedings of the Village Council of the Village of Brooklyn Center in the County of Hennepin and State of Minnesota October 24, 1960 The Village Council met in Regular Session and was called to order by Mayor William Super at 7 :45 P.M. Roll. Call: Mayor William Super, Carl Carlson, Wayne Gageby, Russ Jones and Clifford Wellman were present. Motion by Russ Jones and seconded by Clifford Wellman to approve the Minutes of the Special Meeting, of September 19, 1960 and the Regular Meeting of September 26, 1960, as recorded. Motion carriedA Member Wayne Gageby introduced the following resolution and moved its adoption: RESOLUTION ACCEPTING BID AND APPROVING CONTRACT FORM WHEREAS, the Village Administrator and the Village Engineer have reported that on October 24, 1960 at 11:00 A.M. they opened and tabulated the bids received for water improvement Project No. 1960 -iB (4), and that said bids were as follows: Petrowske & Ross $ 4,365.00 Barbarossa & Sons 5,395.00 Lametti & Sons 5,445.00 Crystal Excavating 6,900.80 NOW, THEREFORE, BE IT RESOLVED by the Village Council of the Village of Brooklyn Center as follows: The bid of Petrowske & Ross Const. Co., in the amount of $4,365.00 as to the furnishing of all work, labor and material in connection with water main improvement Project No. 1960 -1B(4) according to the plans and specifications therefor now on file in the office of the Village Clerk, is deemed to be the lowest and best bid submitted for said work by a responsible bidder, and said bid is hereby accepted. The motion for the adoption of the foregoing resolution was duly seconded by member Clifford Wellman, and upon vote being taken thereon the following voted in favor thereof: Wayne Gageby, Russ Jones, William Super, Clifford Wellman and Carl Carlson; and the following voted against the same: none; whereupon said resolution was declared duly passed and adopted. Motion by Russ Jones and seconded by Clifford Wellman to uphold the recommendation of the Planning Commission to grant a variance to Harry Cronquist to divide the north 122.8 feet of Lot 4, Block 1, Reidheads Addition, into two lots, each lot 61.4 X 128.44, each lot being subject to assessments. Motion carried. Motion by Wayne Gageby and seconded by Russ Jones to uphold the recommendation of the Planning Commission to grant a Special Use Permit to Boyd Casket Company to include 'Other manufacturing" related to the distri- bution of caskets such as crating, alterations and minor changes. Motion carried. Motion by Russ Jones and seconded by Wayne Gageby to uphold the recommendation of the Planning Commission to approve the preliminary plat of Brandon's Addition and a variance for Lots 3 and 4, Block 2, and Lots 3 and 4, Block 3. Building permits are not to be issued on lots not served by sanitary sewer. Motion carried. Motion by Russ Jones and seconded by Clifford Wellman to uphold the recommendation of the Planning Commission to approve a Special Use Permit for William J. Reynolds to construct one apartment building of six units (five 2- bedroom and one efficiency unit) at 5301 Dupont Avenue North on Lots 13, 14, and 15, Block 4, N. E. Perkins Addition. Motion carried. Motion by Clifford Wellman and seconded by Wayne Gageby to instruct the Village Administrator to review the method of assessment on properties located on Bryant Avenue from 53rd Avenue to 55th Avenue. Upon vote being taken thereon, the following voted in favor thereof: Clifford Wellman Carl Carlson, Wayne Gageby, and William Super; and the following voted against the same: Russ Jones; whereupon said motion was declered duly carried. Member Carl Carlson introduced the following resolution and moved its adoption: RESOLUTION OF CANCELLATION FROM HENNEPIN COUNTY TAX ROLLS UNPAID SPECIAL ASSESSMENTS AGAINST PROPERTY OWNED BY THE UNIVERSITY OF MINNESOTA OR BY THE UNIVERSITY OF MINNESOTA AND EARLE BROWN BE IT RESOLVED by the Village Council of the Village of Brooklyn Center, Minnesota, as follows: WHEREAS, the Village of Brooklyn Center entered into an agreement with the University of Minnesota on the 28th day of June 1960, a copy of which is attached hereto and made a part of these minutes, to cancel the unpaid special assessments on released and unreleased property now owned by the University of Minnesota or the University of Minnesota and Earle Brown from the Hennepin County tax rolls and provide for separate account- . ing of the deferred assessments by the Village. THEREFORE, the County Auditor is authorized and directed to cancel from the tax rolls the following special assessments including the second half of the installment of special assessments due in 1960: 2nd -HALF UNRELEASED LAND INSTALLMENT UNPAID (Prin & Int) PLAT PARCEL LEVY NO. AMOUNT 1 96o 035 4500 2133 6V2.53 47.30 89035 6000 2133 698.39 137.78 89035 7500 2133 343.18 45.41 89035 8600 1918 21,883.99) 7,323.10 2133 14,661.75) 89035 9500 2133 375.48 89.63 89103 8923 1918 6,816.75) 947.41 2133 4,580.86) 89103 9300 2133 1,297.6 207.66 89105 5700 2133 2,252.88 326.42 89425 5500 2133 165.96 32.96 89425 6000 2133 956.66 1+6.34 -2- The motion for the adoption of the foregoing resolution was duly seconded by member Wayne Gageby, and upon vote being taken thereon, the following voted in favor thereof: William Super, Carl Carlson, Wayne Gageby, Russ Jones and Clifford Wellman; and the following voted against the same: None; whereupon said resolution was declared duly passed and adopted. Member Carl Carlson introduced the following resolution and moved its adoption: RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $768,000 IMPROVEMENT BONDS WHEREAS, the Village Council has entered into contracts for the con- struction of Sanitary Sewer Improvement No. 1959 -19 pursuant to the provis- ions of Minnesota Statutes Chapter 429, as amended, and WHUMS, it is proposed to issue bonds to finance the cost of said improvement, NOW, THEREFORE, BE IT RESOLVED by the Village Council of the Village of Brooklyn Center, Minnesota as follows: 1. It is hereby determined that the total cost of Sanitary Sewer Improvement No. 1959 -19 is in the amount of $768,000. Of said sum a cost of $750,000 has already been incurred by reason of contracts let for the construction of said improvement, and the sum of $18,000 is the estimated cost for the completion thereof. Assessments for said improvement have heretofore been proposed, adopted and certified in the total sum of $768,007.87, said assessments having been adopted on October 17, 1960 and the assessments being spread over a term of 20 years. 2. It is hereby determined to finance the entire cost of said improvement by the issuance of improvement bonds. 3. There is hereby created Improvement No. 1960 -A & B Fund out of which shall be paid the cost of Sanitary Sewer Improvement No. 1959-19 and the principal and interest on the improvement bonds authorized hereunder and into which shall be paid all of the proceeds of the special assessments levied for said improvement together with the proceeds from the sale of the bonds authorized by this resolution, 4. The Improvement Bonds shall bear date December 1, 1960, and shall bear interest payable July 1, 1961, and semiannually thereafter on January 1 and July 1 in each year. Said bonds shall mature serially on January 1 in the years and amounts as follows: $48,000 January 1, 1962 $50,000 January 1, 1963 $50,000 January 1, 1964 $50,000 January 1, 1965 $50,000 January 1 1966 $40,000 January 1, 1967 $4o, 000 January 1 1968 $4o,000 January 1, 1969 $40,000 January 1, 1970 $40,000 January 1, 1971 $4o, 000 January 1, 1972 $40,000 January 1, 1973 $30,000 January 1, 1974 $30,000 January 1, 1975 $30,000 January 1, 1976 $30,000 January 1, 1977 $30,000 January 1, 1978 $30,000 January 1, 1979 $30,000 January 1, 1980 $30,000 January 1, 1981 -3- The bonds shall be in the denomination of $1,000; provided, however, that the successful bidder may at any time within seven (7) days following the award direct that an amount of the bonds be issued in the denomination of $5,000, in which case he will notify the Village Clerk of the denominations desired and the amount of the bonds of each such denomination of-each maturity. All bonds maturing on January 1, 1972 and thereafter are subject to redemp- tion in inverse numerical order on January 1, 1966, or any interest payment date thereafter upon payment as follows: (l) If redeemed prior to January 1, 1971, at par plus accrued interest, plus a premium of 3% for each bond redeemed. (2) If redeemed on January 1, 1971, or thereafter, at par plus accrued interest, plus a premium of 1% for each bond redeemed. The full faith and credit of the Village will be pledged to payment of the bonds. 5. The Village Council shall meet at the Village Hall in the Village on Monday, the 14th day of November, 1960, at eight o'clock P.M., for the purpose of receiving sealed bids for the purchase of said Improvement Bonds and the Village Clerk is authorized and directed to cause notice of the sale of said bonds to be given by publication ten (10) days in Commercial West a financial paper published in Minneapolis, Minnesota. Said notice shall recite that the Village will furnish printed bonds and approving legal opinion of Messrs. Howard, Peterson, LeFevere, Lefler & Haertzen, Minneapolis, Minnesota, both without expense to the purchaser, shall require that all bids be unconditional and accompanied by a good faith check in the amount of at least $15,000 and shall specify one or more interest rates in multiples of one -tenth or one - quarter of one percent. Said notice shall further provide that delivery of the bonds will be made by the Village with- in forty days after the date of sale at the office of the Village Clerk or, at the option of the purchaser, at Minneapolis or Saint Paul, without expense to the purchaser. The motion for the adoption of the foregoing resolution was duly seconded by Member Russ Jones, and upon vote being taken thereon, the following voted in favor thereof: William Super, Clifford Wellman, Carl Carlson, Russ Jones and Wayne Gageby; and the following voted against the same: None; whereupon said resolution was declared duly passed and adopted. Motion by Wayne Gageby and seconded by Carl Carlson to grant a Special Permit to the Brooklyn Center Junior Chamber of Commerce for a booth for a Turkey Shoot at Shoppers' City subject to the furnishing of a certificate of insurance. Motion carried. Motion by Russ Jones and seconded by Carl Carlson to revise the schedule on hall rental at 64+5 Lynda-le Avenue from $5.00 to $2.00 per night. Motion carried. The bills set forth on the schedule attached to these minutes and made a part hereof entitled "The Bills Audited and Ordered Paid at the Meeting of October 24, 1960" were audited and ordered paid. Member Carl Carlson left the meeting at this point. Motion by Russ Jones and seconded by Clifford Wellman to adjourn. Motion carried. Mayor' / Clerk The bills audited and ordered paid at the meetiing of Oct. 24, 1960 GENERAL 2706 Anoka Coubty union & Shopper Inca Fire prevention books 81.00 2707 Broadway Automotive Water Pump 11.88 2708 Brooklyn Printing & Advt. Office supplies 171.25 2709 Carpenter Paper Co. Bldg. Supplies 46.98 2710 day W. Craig Co. asphalt 555.50 2711 Electronic Communications Service Co. Monitor repairs 23.95 2712 Ernie's & Rays Direct Service Ethyl Gas 87.69 2713 Friden, Inc. Repairs to Calculator 8.90 2714 Genuine Parts Repair Parts 41.01 2715 Goodin Co. Oakum 71.10 2716 Farnhams Office Supplies 96.23 2717 Wm. D. Hannay Insurance 536961 2718 Bob Knowles Ford Repairs 11.27 2719 Larson, Lim quiet Fraser Services 497.40 2720 Leef Brothers " 12.50 2721 "M" Specialties Supplies 31.00 2722 C.S. McCrossan Het Mix 1,293.90 2723 McGee Trucks Cab Mount 1612 2724 Mpls Builders Supply Water Plug 36.58 2725 Mpls Gas Co Utilities 12.42 2726 Northern States Power Co " 1,931.05 2727 Northwestern Bell Telephone " 360.25 2728 Post Publishing Co Advertisement 957.86 2729 Richard Oil Oil 1,168.73 2730 Road Machy Supplies 164.25 2231 Ed Ryan, Sheriff Jailkeep 58048 2732 Salvage & Supply 'Wheels 4.00 2733 Service Bureau Services 644.21 2734 H.R. Toll Oxygen 12905 27 95 Twin City Transmission Repair 13.09 2736 Viking Steel Products Bands 211.70 2737 Vill of B.C. General Fund Due to 64.47 2738 Williams Hardware Supplies 77.52 2739 Workman Service Typist 93960 2740 Mrs. Shirley Klein Refund on bail 40900 2741 Vill of B.C. Petty Cash Reimbursement 128.94 2742 Vill of B.C. Payroll Fund " 14,613,87 24,073.35 INVES TMEN T TRUST 25 ost Publishing Printing 57.43 126 Vill of B.C. Special Fund Construction. loan 200 0 ,057.3 SPECIAL FUNDS 315 Minder Engi neering Engr Fees 3,046.24 316 Barbarossa & Sons 'Dater main. 19,766.75 317 Farr Plulabing Sewer service 56.00 318 `. Larson, Lindquist, Fraser Prof. Services 650.00 23,518.99 PARK FUND 462 Northbrook Hardware Supplies 4.77 463 Vill of B.C. Petty Cash Reimbursement 17.26 464 Continental Sign Signs 52.50 465 Les Humbert Sod 375900 466 Northern States Power Utilities 12.13 467 Post Publishing Printing; 44.08 468 Veit & Cc Grading 4,282.62 469 Veit & Co Black Dirt 75.00 470 Vill of B.C. Public Utilities Utilities 662.62 50525.98 PUBLIC UTILITIES 56 Micheal J. Knapp Meter Depokit refund 20.92 651 Isaac M. Anderson " 22.00 652 Vincent He Antal " 21995 653 William Ve Sabauren " 17.72 654 Rex Ee Hubbard " 19010 655 Post Publishing Printing Audit 92.62 656 Ryti & Jarson Water Service 88.00 657 City Treas, City of Mpls Mpls Sewer Bill 6,912.85 658 Brooklyn Printing & Adv Supplies 39038 659 Mpls Gas Co Services 12e 2D 660 Northern States Power " 481005 661 Northbrook Hardware Envelopes 94.40 662 Geo Te Walker & Co Imhoff Cone 9081 663_ Goodin Cc Supplies 15020 664 H.Ee Erickson Co " 11065 665 Vill of B.C. Petty Cash Reimbursemea.t 8.22 7, 670 07 LI QUOR STORES 1083 Gluek Brewing Merchandise g .robe dice 6.17 1084 Famous ran " B ds 1,432.75 1085 Griggs Cooper " 231e86 1086 Lynn Johnson " 525.70 1087 McKesson & Robbins " 228.00 1088 Mid —West Wine " 132.21 1089 Old Peoria Ce " 702.15 1090 Ed Phillips & Sons " 197910 1092 ?National Cash Register Till Tray 8.50 3,463.9 w A G R E E M E N T THIS AGREEMENT made this 28th day of June, 1960, between the VILLAGE OF BROOKLYN CENTER, hereinafter referred to as the "Village" and THE REGENTS OF THE UNIVERSITY OF MINNESOTA, hereinafter referred to as the "University ". WITNESSETH: I WHEREAS, on December 27, 1949, Earle Brown deeded to the University certain real estate in the Village of Brooklyn Center comprising approximately seven hundred fifty (750) acres, hereinafter referred to as the "Earle Brown Farm ", reserving a life estate plus one year, as recorded in Book 1835 of Deeds, page 536, Office of the Register of Deeds, Hennepin County, Minnesota; and WHEREAS, on August 13, 1954, the University entered into a written agreement with Winston Bros. Company, a Minnesota corporation, and Hal B. Hayes, covering a plan of procedure for future transactions in the development of said "Earle Brown Farm" upon the release to the University of the life estate interests therein; and WHEREAS, said agreement was thereafter assigned by Winston Bros. Company and Hai B. Hayes to Garden City Development Company, a Minnesota corporation, as per assignment dated December 14, 1954, and thereafter re- assigned back to Winston Bros. Company on January 30, 1960; and WHEREAS, on August 16, 1954, said Earle Brown conveyed and released to the University his interest in approximately one -half of said tract, as per deed dated August 16, 1954, and recorded in Book 2027 of Deeds, page 157, said lands hereinafter being referred to as "released lands" as differentiated from the "unreleased lands" and WHEREAS, thereafter by deed dated May 9, 1956, the University conveyed 63.3 acres of said released property to Garden City Development Company as per deed recorded in Book 2087 of Deeds, page 241, which area was subsequently platted as Garden City First Addition; and by deed dated May 9, 1956, the University conveyed an 18.6 acre tract of said released lands to the Village of Brooklyn Center, as per deed recorded in Book 2157 of Deeds, page 550; and WHEREAS, said Winston Bros. Company and the Village of Brooklyn Center entered into that certain agreement dated July 18, 1955, a copy of which is a r 293 attached hereto as Exhibit A, wherein Winston Bros. Company agreed to be responsible for the payment of certain special assessments arising out of the construction of Sanitary Sewer Improvement 1955-1 relating to both released and unreleased parts of said "Earle Brown Farm"; and WHEREAS, the University and Winston Bros. Company are now terminating their contractual relationship under said August 13, 1954, agreement, with respect to the remaining unconveyed property in the "Earle Brown Farm", and as part of the consideration therefor the University . is to save harmless Winston Bros. Company from certain outstanding obligations arising out of said agreement; and WHEREAS, the enforceability of various special assessments heretofore certified against lands in said "Earle Brown Farm" have been the subject of discussions and conferences between the University and the Village, and the parties hereto desire to resolve these questions by the agreement herein: NOW, TH ERE FORE, IT Is HEREBY UNDERSTOOD AND AGREED BETWEEN THE PARTIES HERETO AS FOLLOWS: I The University hereby undertakes to pay (in the manner hereinafter described): A. All unpaid special assessments heretofore certified by the Village against released property in the "Earle Brown Farm", except as to the said 63.3 and 18.6 acre tracts heretofore conveyed. B. All unpaid special assessments heretofore certified by the Village against unreleased property in the "Earle Brown Farm". Ii. In consideration of the above undertaking, the parties hereto agree as follows regarding unpaid special assessments heretofore certified against both released and unreleased property now owned by the University in the "Earle Brown Farm": A. That any unpaid special assessments heretofore certified by the Village to the Hennepin County Auditor against property now owned by the University in the said "Earle Brown Farm", as to both released and unreleased lands, shall be cancelled so as to no longer appear of record on the tax rolls of the County of Hennepin, and that all accrued penalties thereon are waived. B. That thereafter neither principal nor interest as to said special assessments need be paid by the University until such time as the University sells all or part of said property. C. That upon the sale of part or all of said lands, the University shall thereupon pay out of the proceeds of said sale the accumulated interest at the rate provided in paragraph D, and the buyer shall assume the principal amount of the special assessments certified against the specific property purchased, said principal together with interest as hereinafter provided to be paid during the remaining life of the bonds financing said improvements. -2- 295 D. The accumulated interest to be paid by the University out of the sale proceeds shall be on the principal amount of each unpaid special assessment commencing on the first day of January in the year next following the year in which the assessment was levied, and the annual rate of interest shall be five per cent per annum on the improvements set forth in Exhibit B and one per cent above the net interest rate paid by the Village on bond issues hereafter sold to finance the improvements for which special assessments will be levied (computed to the nearest 1/10 of one per cent) but shall not exceed six per cent per annum. The interest rate to be paid by the buyer shall be the same rate of interest as has been required to be paid by other private property owners under the original assessment as to each improvement, said rate of interest to commence from and after the date of the deed or Contract for Deed from the University to the new buyer. E. The University shall require the buyer in writing to assume said unpaid special assessments which have been theretofore levied against the specific property purchased, said special assessments to thereafter be paid by the buyer during the remaining life of the bond period in equal yearly installments as above provided. The Village shall promptly furnish to the University, upon request, a list of the unpaid special assessments against the particular property to be sold. After each sale, the Village shall forthwith re-certify said unpaid special assessments to the County Auditor, Hennepin County. Nothing herein shall prevent the buyer, or the University, from paying the special assessments attributable to any parcel sold in full at any time after said sale. If the University fails to require the buyer to assume the unpaid special assessments, then it shall be liable to pay said assessments in accordance with the other provisions of this agreement. F. Whenever there remains seven (7) years, or less, before the last of the bonds sold for any improvement are due and the tract of land bearing such special assessments has not been sold to a third party, the University shall then undertake to pay in equal annual installments the principal thereof (together with accrued interest for the entire period computed as provided in paragraph D) so that at the end of the bond payment period covering any such improvement all special assessments attributable thereto shall have been paid in full. However, if a sale to a third party occurs during such remaining seven (7) years, then such private party may be required to assume the balance of the principal payments together with such rate of interest as is applicable to other property owners for such improvement. Each of the seven annual installments shall be paid at least ten days prior to the date on which each of the seven remaining annual installments of principal on the bonds are due, as shown on the attached Exhibit B. G. In the event any part of said property is acquired by any other governmental agency or subdivision in condemnation proceedings, said acquisition shall be deemed a sale of the lands acquired and all unpaid special assessments and accrued interest attributable to the actual land acquired shall be paid in full out of the award or payment for said property. III In consideration of the above, the Village hereby agrees to terminate its agreement with Winston Bros. Company dated July 18, 1955, and to release Winston Bros. Company from any and all obligations or liabilities thereunder. IV The specific unpaid special assessments which the University undertakes to pay under paragraph I herein are set forth in Exhibit B attached hereto and made a part hereof. With regard to future special assessments against -3- 297 property owned by the University in the "Earle Brown Farm", whether released or unreleased, nothing herein shall be construed to limit the rights of the University under Chapter 510 of Minnesota Laws of 1957 (M.S.A. 435.19). When the measure of the benefit received by the land from the improvement has been ascertained, as set forth under said statute, and the amount of the assessment determined, then it is hereby agreed that the terms of the agreement herein shall thereupon apply to the terms and manner of payment of said future special assessments, and interest shall be computed from the date on which interest has been added to the assessments certified against other property owners benefited by such improvement. IN WITNESS WHEREOF, the parties have hereunto set their hands the day and year first above written. In the presente 6f-. VILLAGE OF BROOKLYN CENTER Isl A. J. Lee By /s/ Wm. N. Super Mayor Isl A. S. Lindman Isl H. R. Jones Clerk THE REGENTS OF THE UNIVERSITY OF MINNESOTA Isl Louise Renning By Isl J. L. Morrill President Isl Eleanor Kestermann Isl L. R. Lunden Secretary -4- AGREEMENT AGREEMENT MADE this 18th day of duly, 1955, by and between WINSTON BROS. COMPANY, a Minnesota corporation (hereinafter sometimes called the "Company "), first party, and VILLAGE OF BROOKLYN CENTER, a village duly organized and existing under the laws of the State of Minnesota (hereinafter called the "Village "), second party, WITNESSETH: WHEREAS, the Regents of the University of Minnesota (hereinafter called the "Regents ") have agreed to sell to Winston Bros. Company, a Minnesota corporation, and Hal B. Hayes of North Hollywood, California, pursuant to the provisions of an Agreement of Sale and Purchase dated August 13, 1954, certain real property located in Hennepin County, Minnesota, known as the Earle Brown Farm, and WHEREAS, Hal B. Hayes has agreed with Winston Bros. Company that Winston Bros. Company or a corporation controlled by Winston Bros. Company shall have the right to acquire title from the Regents to the aforesaid land, and WHEREAS, a portion of the said Earle Brown Farm is located within the area proposed to be assessed for Sanitary Sewer Improvement 1955 -1 of the Village, and WHEREAS, the Company desires that the Village construct a main interceptor sewer to serve the area proposed to be assessed for Sanitary Sewer Improvement 1955 -1, said area hereinafter being referred to as the "assessment area ", in accordance with the plans therefor heretofore formulated and agreed upon, a copy of which plans initialed by W. B. Rohan and bearing date of May 26, 1955, is on file in the office of the Clerk of the Village, and the Village is willing to undertake the installation of such main interceptor sewer in accordance with such plans and to issue its bonds in order to procure the necessary funds with which to pay the cost of construction of such main interceptor sewer in the event the Company enters into the within agreed, NOW, THEREFORE, in consideration of the Village (a) promptly causing such main interceptor sewer to be constructed and installed substantially in conformity with the aforesaid plans at a total cost of not to exceed $400,000.00, and EXHIBIT A 287 W providing for the payment of the cost of construe- tion and installation thereof by issuing and selling its bonds in such aggregate amount (not to exceed $400,000.00) as is necessary to provide the total amount of the funds required to pay the costs of the construction and installation upon as favorable terms to the Village as it is practicable for it to obtain under arrangements whereby such bonds will be retired over a period of twenty years from the date of issuance and sale thereof through the operation of a sinking fund into which will be paid payments of annual installments of the special assessment to be imposed upon the real estate in said assessment area on account of said improvement, and (c) applying the proceeds of the sale of such bonds in full payment of the cost of such construction and installation, and W spreading the cost of such construction and installa- tion upon each tract of real property in said assess- ment area (including the portion of the Earle Brown Farm located in said assessment area which is owned at the time of the levy of such special assessment by the Regents outright in fee or in fee subject to a life estate for the remainder of the life of said Earle Brown) by levying a special assessment thereon (not in excess of the benefit thereto) upon such terms and conditions that the aggregate principal amount of such special assessment upon a particular tract of said real property shall be payable in equal installments over the next succeeding twenty year period with interest on the unpaid balance thereof, and (e) applying the installments of such special assessment when collected first in payment of unpaid interest accrued upon said bonds and the balance in payment of bond principal through the operation of such sink- ing fund in the manner specified in such bonds, the Company promises and agrees to pay or cause to be paid (1) each installment, with interest, of the pottion of said special assessment imposed with respect to each parcel of real property in the portion of the Earle Brown Farm located in said assessment area which Is owned at the time that such Amstallment becomes due and payable by the Regents outright in fee or in fee subject to a life estate for the remainder of the life of said Earle Brown, prior to the time when delinquency in the payment of the installment would occur, and the Company promises and agrees that: (1) the benefits of any agreement, formal or informal, between the Company and the Regents or the Company and University of Minnesota officials, which benefits or further protects the Company from possible loss in having paid or guaranteed assessments on said portions of the Earle Brown Farm, shall inure also to the Village and shall be directly enforceable by the Village. -2- L 289 (2) If the Company ever ceases to be liable and obligated under above mentioned Agreement of Sale and Purchase dated August 13, 1954, it will, at that time, provide the Village with adequate and satisfactory security to insure that the then unpaid balance of assessments will be paid prior to the time when delinquency would occur. FURTHER, it is mutually covenanted and agreed by and between the Company and the Village that nothing herein contained shall be construed to preclude the owner of any parcel of real property located in said assessment area or any other person having an interest therein from raising and having determined in the manner provided by law the question as to whether or not such parcel of real property or any part thereof has been assessed more than its fair and equitable share of said special assessment or to preclude the Company from raising and having determined the question as to whether or not any parcel of real property in the portion of the EarleBrown Farm located in said assessment area which is owned at the particular time by the Regents outright in fee or in fee subject to a life estate for the remainder of the life of said Earle Brown, has been assessed more than its fair and equitable share of said special assessment; but this provision shall create no greater rights on behalf of the Company or any other person to question or appeal the assessments than is now possessed by other property owners. FURTHER, it is mutually covenanted and agreed by *id between the Company and the Village that the Company shall be under no obligation to pay or cause to be paid such unpaid installment of the portions`' -,of said special assessment levied against parcels of real property donated to the Village and accepted by the Council of the Village for park purposes; as becomes due and payable after the effective date-of such donation and acceptance. IN WITNESS WHEREOF the parties hereto have executed this agreement on the day and year first above written. In Presence of WINSrON BRAS. COMPANY /s/ W. B. Rohan By /s/ W. J. Rohan President /s/ C. E. Cutts And /s/ R. G. Balch Secretary VILLAGE OF BROOKLYN CENTER /s/ Donald M. Fraser By /s/ Arthur Paulson Mayor /s/ E. G. Minder, Jr. And /s/ H. R. Jones Clerk -3- EXHIBIT B Total Date on Interest Rate Tax Location Auditor's Date Last Unpaid which 5% Applicable to Dates last 7 Parcel of Improvement Installment Principal interest Private Prop. annual installments No. Parcel Designation Paid 6 -1 -60 begins Owner due on bonds 1220 Sect. 35 1918 11/59 $4,838.31 1/1/60 5% Jan. 1, 1970 thru 1976 1939 11/58 3,316.89 1/1/59 5% Jan. 1, 1971 thru 1977 1941 11/58 5,372.95 1/1/59 5% Jan. 1, 1971 thru 1977 8700 Sect. 35 1918 11/59 12,382.48 1/1/60 5% Jan. 1, 1970 thru 1976 1939 11/58 13,207.44 1/1/59 5% Jan. 1, 1971 thru 1977 1941 11/58 21,394.34 1/1/59 5 Jan. 1, 1971 thru 1977 8800 Sect. 35 1918 11/59 2,816.71 1/1/60 5% Jan. 1, 1970 thru 1976 2133 none 1,310.84 1/1/59 6% Jan. 1, 1973,thru 1979 8921 Aud.Sub.218 1918 11/59 4,358.47 1/1/60 5% Jan. 1, 1970 thru 1976 2133 none 2,278.75 1/1/59 6% Jan. 1, 1973 thru 1979 4500 Sect. 35 2133 5/60 660.59 1/1/60 6% Jan. 1, 1973 thru 1979 6000 Sect. 35 2133 5/60 717.79 1/1/60 6% Jan. 1, 1973 thru 1979 7500 Sect. 35 2133 5/60` 352.72 1/1/60 6% Jan. 1, 1973 thru 1979 8600 Sect. 35 1918 5/60 22,613.46 1/1/60 5% Jan. 1, 1970 thru 1976 2133 5/60 15,069.02 1/1/60 6% Jan. 1, 1973 thru 1979 9500 Sect. 35 2133 5/60 385.91 1/1/60 6% Jan. 1, 1973 thru 1979 8923 Aud.Sub.218 1918 5/60 6,952.95 1/1/60 5% Jan. 1, 1970 thru 1976 2133 5/60 4,708.10 1/1/60 6 0 /6 Jan. 1, 1973 thru 1979 9300 Aud.Sub.218 2133 5/60 1,333.70 1/1/60 6% Jan. 1, 1973 thru 1979 5700 Aud.Sub.310 2133 5/60 2,315.46 1/1/60 6% Jan. 1, 1973 thru 1979 r 5500 Guilford's 2133 5/60 170.57 1/1/60 6% Jan. 1, 1973 thru 1979 6000 Guilford's 2133 5/60 963.96 1/1/60 6% Jan. 1, 1973 thru 1979