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HomeMy WebLinkAboutPC82023 - 6/17/82 - 1300 Block on South Side of 69th Ave0-1 PLANNING COMMISSION FILE CHECKLIST File Purge Date: cicl FILE INFORMATION Planning Commission Application Number: PROPERTY INFORMATION Zoning: RAJ PLAN REFERENCE Note: If a plan was found in the file during the purge process, it was pulled for consolidation of all plans. Identified below are the types of plans, if any, that were consolidated. • Site Plans • Building Plans • Other: FILE REFERENCE Note: The following documents were purged when this project file became inactive. We have recorded the information necessary to retrieve the documents. Document Type Date Range Location Agendas: Planning Commission Office Minutes: Planning Commission ��1'ga City Vault Minutes: City Council--1,a4City Vault S 1 Ct a t� 3 \$3 �3 \ ka.\%S Document Type Number Location Resolutions: Planning Commission City Vault Resolutions: City Council 14b City Vault Ordinances: City Council City Vault CITY OF BROOKLYN CENTEk PLANNING COMMISSI@N APPLICATION Application No. 82023 Please Print Clearly or Type �,, �.��� Street Location of Property 1 300 Block on South Side of 69th Avenue North Legal Description of Property That part of Lot 2, Block 1, Hi Crest Square Addition lying ease of Registered Land Survey No. 1312. Owner Bergstrom Realty Co. Address 3401 85th Avenue North, Brooklyn Park, MN 55443 phone No. 425-5554 Applicant Kenneth L. Bergstrom, President, Bergstrom Realty Co. Address_ 3401 85th Avenue North, Brooklyn Park, MN 55443 Phone No. 425-5554 Type of Request: Rezoning Subdivision Approval Variance X Site & Bldg. Plan Approval Special Use Permit Other: Description of Request: Site Plan approval for the purpose of constructing a 60 unit Planned Unit Development of single family attached dwelling units and Building Plan approval for the first phase consisting of two 6-unit buildings and three 2-unit buildings for a total of 18 units. The applicant requests processing of this application and agrees to pay to the City of Brooklyn Center, within fifteen (15) days after mailing or delivery of the billing state- ment, the actual costs incurred by the City for Engineering, Planning and Legal expenses reasonably and necessarily required by the City for the processing of the application. Such costs shall be in addition to the application fee described herein. Withdrawal of the application shall not relieve the applicant of the obligation to pay costs incurred prior to withdrawal. Fee $ 100.00 Receipt No. 58538 Date: Z - g2. PLANNING COMMISSION RECOMMENDATION Dates of P.C. Consideration: Approved DC Denied this day of JLAA_ 19 $'Z, subject to the following conditions: n CITY �C/OUNCIL ACT�ION,� Dates of Council Consideration: % C -d c'04"s An Approved_ Denied this %l day of 19 with the following amendment: u i e P/I Form No. 18 (over please) CITY OF BROOKLYN CENTER, MINNESOTA 6301 Shingle Creek Parkway 55430 PROCEDURES AND REQUIREMENTS FOR FILING APPLICATION FOR SITE AND BUILDING PLAN APPROVAL =rior to submission of an application for plan review and approval, prospective applicants should arrange an informational meeting with the Planning Staff to iiscuss preliminary plans and to become familiarized with applicable ordinance end policy provisions. Phree (3) copies of the.following documents and information shall be submitted, at least 14 days prior to the date of the regular' Commiss ion meeting, concurrent with filing the application (required documents must be consistent with ordi- iance and policy provisions before an application may be accepted): 1. A certified site survey drawing by a registered engineer or land surveyor showing pertinent existing condition, accurately dimensioned. -).* An accurately scaled and dimensioned site plan indicating: a) parking layouts including access provisions; b) 'designations and locations of accessory buildings; c) fences, walls or other screening, including heights and type of material; d) outside lighting provisions,.type and location; e) curbing. 3.* A landscape plan showing areas to be sodded or seeded; location, size and species of trees and shrubbery. 4.* Building floor plans, elevations, sections and specifications, including materials proposed. �.* Existing and proposed land elevations, drainage provisions, and utility provisions. 5. Additional drawings, plans or information deemed necessary by the Secretary. *Must be prepared by a registered architect or person registered with the Stat, board of Registration for Architects, Engineers and Land Surveyors, and said drawings/plans shall be so certified, NOTE: Upon approval of plans by the Council and prior to issuance of permits, a Performance Agreement as to approved site improvements and a supporting finan- cial guarantee, in an amount to be determined by the City, are required. Accept able financial instruments include cash escrow; certificate of deposit; and performance bond. copies of the zoning Ordinance may be obtained from the Administrative Office. questions should be directed to the Planning and Inspection Department. P/I Form No. 19 --CITY OF BROOKLPN CENTEk— _ PLANNING COMMISSION APPLICATION Application No. 82023 ,f Please Print Clearly or Type Street Location of Property 1 300 Block on South Side of 69th Avenue North Legal Description of Property That part of Lot 2, Block I, Hi Crest Square Addition lying ease of Registered Land Survey No. 1312. Owner Bergstrom Realty Co. Address 3401 85th Avenue North, Brooklyn Park, MN 55443 phone No. 425-5554 Applicant Kenneth L. Bergstrom, President, Bergstrom Realty Co. Address 3401 85th Avenue North, Brooklyn Park, MN 55443 Phone No. 425-5554 Type of Request: Rezoning Subdivision Approval Variance X Site & Bldg. Plan Approval Special Use Permit Other: Description of Request: Site Plan approval for the purpose of constructing a 60 unit Planned Unit Development of single family attached dwelling units and Buildinq Plan approval for the first phase consisting of two 6-unit buildings and three 2-unit buildings for a total of 18 units. The applicant requests processing of this application and agrees to pay to the City of Brooklyn Center, within fifteen (15) days after mailing or delivery of the billing state- ment, the actual costs incurred by the City for Engineering, Planning and Legal expenses reasonably and necessarily required by the City for the processing of the application. Such costs shall be in addition to the application fee described herein. Withdrawal of the application shall not relieve the applicant of the obligation to pay costs incurred prior to withdrawal. Fee $ 100.00 Receipt No. 58538 Date: In '2- 8-2 PLANNING COMMISSION RECOMMENDATION / r i Dates of P.C. Consideration: Approved Denied following conditions: this day of CITY COUNCIL ACTION Dates of Council Consideration: Approved Denied this day of amendment: 19 , subject to the Chairman 19 , with the following _ Clerk P/I Form No. 18 (over Y , 1. %r F CITY OF BROOKLYN CENTER, MINNESOTA 6301 Shingle Creek Parkway 55430 PROCEDURES AND REQUIREMENTS FOR FILING APPLICATION FOR SITE AND BUILDING PLAN APPROVAL 0 rior to submission of an application for plan review and approval, prospective ppl.icants should arrange an informational meeting with the Planning Staff to 3_scuss preliminary plans and to become familiarized with applicable ordinance nd policy provisions. 'iiree (3) copies of the.following documents and information shall be submitted, t least 14 days prior to the date of the regular' Commission meeting, concurrent th filing the application (required documents must be consistent with ordi- ;ance and policy provisions before an application may be accepted): A certified site survey drawing by a registered engineer or land surveyor showing pertinent existing condition, accurately dimensioned. .* An accurately scaled and dimensioned site plan indicating: a) parking layouts including access provisions; b) 'designations and locations of accessory buildings; c) fences, walls or other screening, including heights and type of material; d) outside lighting provisions, type and location; e) curbing. .* A landscape plan showing areas to be sodded or seeded; location, size and species of trees and shrubbery. .* Building floor plans, elevations, sections and specifications, including materials proposed. .* Existing and proposed land elevations, drainage provisions, and utility provisions. Additional drawings, plans or information deemed necessary by the Secretary. *Must be prepared by a registered architect or person registered with the Stat -0ard of Registration for Architects, Engineers and Land Surveyors, and said rawings/plans shall be so certified, :OTE: Upon approval of plans by the Council and prior to issuance of permits, Performance Agreement as to approved site improvements and a supporting finan- ial guarantee, in an amount to be determined by the City, are required. Accept ,iDle financial instruments include cash escrow; certificate of deposit; and ��rformance bond. copies of the Zoning Ordinance may be obtained from the Administrative Office. .-,uestions should be directed to the Planning and Inspection Department. "/I Form No. 19 Planning Commission Information Sheet Application No. 82023 Applicant: Bergstrom Realty Company Location: 1300 block on south side of 69th Avenue North Request: Site and Building Plan The applicant requests amended approval of site and building plans for the first phase of the Hi Crest Square Estates townhouse development on the south side of the 1300 block of 69th Avenue North. This application received approval by the Planning Commission on June 17, 1982 and a revised building plan was tabled on July 1, 1982. The change involves a new building design for the six unit buildings and four unit buildings throughout the project. No other changes have been made to the site, landscaping or grading plans. The design submitted at the June 17, 1982 meeting was essentially a carbon copy of the design used in the Earle Brown Farm Estates developed by DeVries Builders and was intended as a prototype rather than a final design. Because of concerns raised by DeVries Builders and Dominion Development over the use of the plans, the applicant wishes to submit a new design for amended approval by the Planning Commission. The new design differs from the design previously submitted in certain respects. The foundations of the outer four units (two on each end) will be 20' x 32' with an enclosed foyer between the garage and the main living area. The previous design called for the outer two units to be 19' 6" x 30' with mechanical/laundry rooms between the garage and the main living area. The new interior units are 17' 6" x 32' as opposed to 16' x 30' as proposed earlier. The general arrangement of rooms within the units is not different, though the dimensions vary slightly. The front exterior elevations are substantially changed from the design proposed at the June 17, 1982 meeting. Rather than the narrow lap board siding, the applicant proposes to use a stacato exterior with cedar batting boards in a vertical pattern. Face brick columns about 3' to 4' high accent the garages. Rear and side elevations do have horizontal lap board siding. The new plans have been designed by Dennis Rydell who is not a registered architect. However, the applicant has agreed to have the plans certified by a registered structural engineer prior to the issuance of permits, as required by City Ordinance. Altogether, the plans appear to be acceptable and approval is recommended, subject to at least the following conditions: 1. Building plans are subject to review and approval by the Building Official with respect to applicable codes prior to the issuance of permits. 2. Grading, drainage, utility and berming plans are subject to review and approval by the City Engineer, prior to the issuance of permits; and specifically, should conform to the revisions and requirements set forth in the Assistant City Engineer's memo dated 6-14-82. 3. A site performance agreement and supporting financial guarantee (in an amount to be determined by the City Manager) shall be submitted prior to the issuance of permits to assure completion of approved site improvements for the entire development. 4. Any outside trash disposal facilities shall be appropriately screened from view. 7-15-82 -1- Application No. 82023 continued 5. Plan approval is exclusive of all signery which is subject to Chapter 34 of the City Ordinances. 6. B612 curb and gutter shall be provided around all parking and driving areas. 7. All areas regraded, but not developed according to plan shall be seeded to maintain adequate ground cover for dust control. 8. The Assistant City Engineer shall report to the City Council on how the proposed plan compares with other ponds on private developments in the City and on whether the proposed pond will fulfill its function as both a drainage control device and an aesthetic asset to the townhouse development, with an acceptable safety risk. 9. Plan approval acknowledges the proposed landscape treatment along the east side of the development as acceptable screening in lieu of the ordinance required 4' high opaque fence. 10. The building plans shall be certified by a registered Minnesota Architect prior to the issuance of building permits if so required by the State Building Codes Division. 11. The site plans shall be amended to incorporate a system to sup- plement natural ground water inflow into the proposed pond thus, maintaining a constant water level elevation of 840'(U.S.G.S. Datum). 7-15-82 -2- 11 Application No. 82023 continued 4. Any outside trash disposal facilities shall be appropriately screened from view. 5. Plan approval is exclusive of all signery which is subject to Chapter 34 of the City Ordinances. 6. B612 curb and gutter shall be provided around all parking and driving areas. 7. All areas regraded, but not developed according to plan shall be seeded to maintain adequate ground cover for dust control. 8. The Assistant City Engineer shall report to the City Council on how the proposed plan compares with other ponds on private developments in the City and on whether the proposed pond will fulfill its function as both a drainage control device and an aesthetic asset to the townhouse development, with an accept- able safety risk. 9. Plan approval acknowledges the proposed landscape treatment along the east side of the development as acceptable screening in lieu of the ordinance required 4' high opaque fence. 10. The building plans shall be certified by a registered Minnesota Architect prior to the issuance of building permits if so required by the State Building Codes Division. 7-1-82 -2- Planning Commission Information Sheet Application No. 82023 Applicant: Bergstrom Realty Company Location: 1300 block of 69th Avenue North Request: Site and Building Plan The applicant requests site plan approval, including landscaping, grading, and a master layout for a 60 unit townhouse project on the south side of the 1300 block of 69th Avenue North. The applicant also requests building plan approval for two six -unit buildings and three two -unit buildings (18 units in all) to constitute Phase I of the Hi Crest Square Estates development. The land in question was the subject of rezoning Application No. 82008 (to R3)and is bounded on the north by 69th Avenue North, on the east by a City pump house and single-family residences, on the south by two apartment buildings which face 67th Avenue North, and on the west by the Humboldt Square Shop- ping Center. The site is approximately 7.5 acres and the proposed 60 unit townhouse development is a permitted use in the R3 zoning district on a parcel of this size. Access to the development would be from a single driveway off 69th Avenue North adjacent to the City's pump house. All driving lanes within the project are at least 24' in width. Most units will have single -car garages and an additional driveway stall (some units will have double garages and 2-car driveways) to meet the minimum parking requirement of two spaces per dwelling unit. In addition, there are 25 visitor parking stalls provided at scattered locations around the site. The landscape plan for the site proposes to utilize 17 existing trees, all over 10" in diameter. If these are credited toward the requirement of Section 35-410 Subd. 6 for 6" diameter trees (nine 6" diameter trees are required for a 60 unit complex), there is no need for additional large trees. The landscape plan does call for six 4" diameter shade trees throughout the project (three in Phase I). Species include: Norway Maple, Littleleaf Linden,Hackberry, and Marshall Ash. In addition, there are 27 smaller shade trees (1" diameter) scheduled throughout the project (10 in Phase I). The plan also calls for 17 Black Hills Spruce (22' high), 27 Russian Olives (7/8" diameter), 9 Radiant Crab (5' ht.) and a few Redtwig Dogwoods and Honeysuckle. Generally, most of the existing trees to be salvaged are either near the main access off 69th or along the eastern portion of the site adjacent to the single-family homes. A fair number of trees, both existing and new, are proposed along the west edge of the site to help screen out the Humboldt Square Shopping Center. A 6' high redwood fence is proposed for a length of 625' just inside the west property line to provide additional screening. Fewer trees are proposed along the southerly portion of the site adjacent to the apartments. It is recommended that a few more trees be scheduled immediately north of the apartment garages and in the areas between some of the units and the private roadway. The proposed townhouse units in Phase I range in size from about 1,000 sq. ft. to 1,350 sq. ft. in floor area. All have small concrete patios to the rear. The six - unit buildings would have narrow horizontal lap board siding, such as that used in the Earle Brown Farm Estates. The doubles are of two types, facing the private roadway along either their length or width (see site plan attached). These units have different floor plans, providing at least 2 bedrooms and possibly a third in the "horizontal" units. Siding of the doubles involves both vertical and horizontal board siding. Grading, drainage, and utility plans were submitted in conjunction with the pre- liminary plat under Application No. 82016. However, these plans have been modified somewhat. The Assistant City Engineer has reviewed the proposed plans and submitted a memo outlining certain revisions and conditions (see memo attached). It is recom- mended that the revisions and requirements contained in this memo be included as 6-17-82 -1- Ppplication No. 82023 continued part of Condition No. 2 pertaining to grading, drainage and utility plans. Altogether, the plans are generally in order and approval is recommended, subject to at least the following conditions: 1. Building plans are subject to review and approval by the Building Official with respect to applicable codes prior to the issuance of permits. 2. Grading, drainage, utility and berming plans are subject to review and approval by the City Engineer, prior to the issuanm of permits; and specifically, should conform to the revisions and requirements set forth in the Assistant City Engineer's memo dated 6-14-82. 3. A site performance agreement and supporting financial guarantee (in an amount to be determined by the City Manager) shall be submitted prior to the issuance of permits to assure completion of approved site improvements for the entire development. 4. Any outside trash disposal facilities shall be appropriately screened from view. 5. Plan approval is exclusive of all signery which is subject to Chapter 34 of the City Ordinances. 6. B612 curb and gutter shall be provided around all parking and driving areas. 7. All areas regraded, but not developed according to plan shall be seeded to maintain adequate ground coverfor dust control. 8. The landscape plan shall be amended to indicate additional trees in the area north of the apartment garages to the south and shall provide a tree between each dwelling unit and the private roadway which serves as access to it. 6-17-82 -2- 69in - v u �--npC �- .5' n1' o.i r „n; .G'.•as.N (�a. Iyd �` Cily or ti�' 24 ` .e-'S� l Pd h <' / p0 r `I•c c*- O a1 J I I ^irAx, C- 94.�5RJF \ � 'IVALI Cfiff, IP ku a42 ENCE �I IIttIM � y I t6 VL o BLK— �..... • (moo. T .+ .t._- 44 E L"J, ..r. - I, o. \ c —?--- �- � •58 • �• y 1 I is \ 4 ` ,j u cc \• � • 0. } \ \ tl .y. A ` 9e gd\ \ ( \f,A I //� INi I 40 I w \ p o I, `+ r A e. I° A / r. '- -\ (' i � � i � c..'a•. �"� nT �r�ra �rr -9CJ9 /.irr. r--r-=.� ��eT- — � / / P p —�- __ y I r 1 I Ber�s�iom Reo/ry Co. '�� DEPAR I MI NT OI PLANN I N (4 A1I1) I Nd'SPI: CT 10N CITY Of BROOtKLYN CLNTLR PERFORMANCE AGREEMENT File No.82023 This Agreement is entered into by Bergstrom Realty Company hereinafter called the Developer and the City of Brooklyn Center, a Municipal Corporation, under the laws of the State of Minnesota, hereafter called the City. THE WORK The Developer has received approval of its Development Plans by the City Council of the City (pursuant to City Ordinances), subject to the execution of this Performance Agreement, pursuant to the City Council approval of August 9, 1982 and in accordance with said Development Plans all of which are made a part hereof by reference. In -consideration of such approval, the Developer, its successors and assigns, does covenant and agree to perform the Mork as set forth in the Development Plans, in the aforesaid Approval, and as hereinafter set forth, upon the real estate described as follows: Hi Crest Square Estates and including survey monuments and seeding remnant. The Work shall consist of the improvements described in the Development Plans, in the aforesaid Approval (to include any approved subsequent amendments) and shall be in compliance with all applicable Statutes, Codes and Ordinances of the City. COMPLETION DATE The undersigned Developer agrees that the said Work shall be completed in its entirety on or before the 9 day of August 19 83 , and no extension of time shall be valid un- less the same shall be.approved in writing by the City Manager. Said extension of time shall be valid whether approved by the City Manager before or after the completion date and failure of the City to extend the time..for completion or to exercise other remedies hereunder shall in no way work a forfeiture of the City's rights hereunder, nor shall any extension of time actually granted by the City Manager work any forfeiture of the City's rights hereunder. It shall be the duty of the Developer'to notify the City of completion of the Work at least 10 days prior to the Completion Date and to call for final inspection by employees of the City. MAINTENANCE The Performance Agreement, in its entirety, shall remain in full force and effect for a period of one year after actual completion of the Work to determine that the useful life of all Work performed hereunder meets the average standard for the particular industry, profession, or material used in the performance of the work. Any work not meeting such standard shall not be deemed complete hereunder. Notice of the date of Actual Completion shall be given to the Developer by the Director of Planning and Inspection of the City. FINANCIAL GUARANTEE The Developer agrees to furnish the City with a Financial Guarantee in theformof a cash escrow, a bond issued by an approved corporate surety licensed to do business in the State of Minnesota and executed by the Developer as principal, or other Financial Guarantee as approved by the City Manager of the City, in the amount of $ 75,000.00 . Such Financial Guarantee shall continue in full force and effect until the City Council shall have by motion approved and accepted all of -the Work undertaken to be done, and shall thereby have released the Surety and/or Developer from any further liability; provided however, that the -City Council may by motion reduce the amount of the Financial Guarantee upon partial completion of the work, as certified by the City Manager. Such Financial Guarantee shall be conditioned upon the full and faithful performance of all elements of this Agreement and upon compliance with all applicable Statutes, Codes, and Ordinances of the City, and shall further be subject to the following provisions which shall be deemed to be incorporated in such Financial Guarantee and made a part thereof. 71111012 , The City shall be required to give prior notice to the corporate surety and the Developer of any default hereunder before proceeding to enforce such.Financial Guarantee or before the City undertakes any work for which the City will be reimbursed through the Financial Guarantee. Within 10 days after such notice to it, the surety shall notify the City in.writing of its in- tention to enforce any rights it might have under this Performance Agreement or any Performance Bond by stating in writing the manner in which the default will be cured and the time within which such default will be cured, said time not to exceed 60 days unless approved by the City. (over please) r.r. Rt_MEDIEI) f J1t I,I i I(,t'II At any tiiiie after the Completion date avid any extensions thereof, or during the Maintenance r- Reriod, if' any of the work is deemed incomplete, the City Council may proceed in any one or more of the following ways to enforce the undertakings herein set forth, and to collect any and all overhead expenses incurred by the City in connection therewith, including but not limited to engineering, legal, planning and litigation expenses, but the enumeration of the remedies.here- %nder shall be in addition to any other remedies available to the City. 1) Completion by the City. The City, after notice, may proceed to have the Work done either by contract, by day labor, or by regular City forces, and neither the Developer nor the Corporate Surety may question the manner of doing such work cr the letting of any such contracts _ for the doing of such work. Upon completion of such Work the Surety and/or the Developer shall promptly pay the City the full cost thereof as aforesaid. In the r., .;z:nttha t the Financial. Guarantee is in the form of a Performance Bond, it shall be no defense by the Surety that the City has not first made demand upon -the Developer, nor pursued its rights against the Developer. 2) S ecific Performance. The City may in writing direct the Surety or the Developer to cause the Work io be undertaken and completed withi.n a specified reasonable time. If the Surety and/or the Developer fails to cause the Work to be done and completed in a manner and time acceptable to the City, the City may proceed in an action for Specific Performance to require such work to be undertaken. 3) Deposit of Finacial Guarantee. In the event that the Financial Guarantee has been submitted in the form of a Performance Bond, the City may demand that the Surety deposit with the City a sum equal to the estimated cost of completing the work, plus the City's estimated overhead expenses as defined herein, in- cluding any other costs and damages for -which the Surety may be liable hereunder, but not exceeding the amount set forth on the face of the Performance Bond, which money shall be deemed to be held by the City for the purpose of reimbursing the City for any costs incurred in completing the Work as hereinbefore specified, and the balance shall be returned to the Surety. This money shall be deposited with the City within 10 days after written demand therefor, and if the Surety fails to make the required deposit within 10 days, the City shall have the right to proceed against the Surety with whatever legal action is required to obtain the deposit of such sum. 4) Funds on Deposit. In the event that the Financial Guarantee is in the form of cash, certified check, or other arrangement making the Financial Guarantee im- mediately accessible to the City, the City may, after notice to the Developer, deposit the Financial Guarantee in its General Account. The City may then pro- ceed to complete the Work, reimburse itself for the cost of completion as de- fined hereunder, and return the balance to the Developer. PROCEDURES A copy of this Performance Agreement shall be attached to the Corporate Surety Bond, if any, and reference to this Performance Agreement shall be made in any such bond, but no corporate surety shall assert as a defense to performance hereunder, any lack of reference in the bond to this Performance Agreement. The original and two copies of this Agreement, properly executed, together with the appropriate Financial Guarantee shall be submitted to the City. IN WI-INESS WHEREOF, .day of Witness Witness the veveloper and the City have executed this Agreement this 19 Subscribed and sw rn to before me this �/� day of X&" ST 19 J?011L . Zoning Official P/I Form No. 23 Rev. 6-77 CAMDEN NORTHWESTERN BANK 4141 Lyndale Avenue North P.O. Box 12281 Minneapolis, Minnesota 55412 EXHIBIT A 612/372 6900 IRREVOCABLE LETTER OF CREDIT NO. 302 Dated this 16th day of August, 1982 AMOUNT: $75,000.00 INAINk BVNco TO: City of Brooklyn Center 6301 Shingle Creek Parkway Brooklyn Center, Minnesota 55430, hereinafter called the City FROM: Camden Northwestern State Bank 4141 Lyndale Avenue North P. 0. Box 12281 Minneapolis, MN 55412, hereinafter called the Bank RE: Minn -Kota Excavating, Inc. 3401 85th Avenue North Minneapolis, MN 55429 hereinafter called the Developer The City is a municipal corporation under the laws of the State of Minnesota and on the 26th day of July, 1982, approved the following project: Hi Crest Square. As a condition of such approval, the City has required the execution by the Developer of a Performance Agreement and has required a Financial Guarantee to insure the construction described in the Performance Agreement. The Developer has made application to the Bank for a Letter of Credit, a copy of which is attached hereto and made a part hereof by reference, to be used as the said Financial Guarantee. The Bank is chartered to conduct business within the State of Minnesota at the address indicated above and is empowered to issue Letters of Credit. By the signature of Donald K. Ross Vice President and by the signature of Tom Welch, Senior Vice President of the Bank endorsed hereon, this document is an Irrevocable Letter of Credit under the Uniform Commercial Code, MSA §336.5. This Letter of Credit shall remain irrevocable until cancelled by one of the following methods: 1. By appropriate written cancellation executed by proper officials of the City of Brooklyn Center; Camden Northwestern State Bank of Minneapolis City of Brooklyn Center Page 2 2. At any time after the project completion date, the 9th day of August, 1983, the Bank may serve the City by certified mail its written intention to cancel this Letter of Credit. Cancellation shall be effective on the 31st day after notice of cancellation is received. Any Documentary Demand for Payment delivered to the Bank within the said thirty (30) day period shall be honored under this Letter of Credit, regardless of any exten- sions of time previously granted by the City to the Developer beyond the above -named date. Upon delivery by registered mail of a Documentary Demand for Payment at the office of the Bank above described, the Bank will, on or before the fourth O th) business day after such delivery, pay to the City by registered return mail the amount demanded in the Documentary Demand for Payment, not to exceed the amount of this Letter of Credit above stated. The Documentary Demand for Payment shall consist of the following documents: 1. The Performance Agreement signed by the Developer and the City, together with the minutes of the City Council meeting approving the project. 2. The Inspection Report signed by the Planning Director or the Director of Public Works of the City, detailing the deficiencies in the Developer's performance of the construction work approved. 3. The minutes of the City Council meeting approving the Inspection Report and ordering completion of the con- struction work with City forces or City contractors and further providing for the collection of the costs thereof from the Bank. Any funds received by the City pursuant to this Letter of Credit shall be used only for the improvements described herein, but including legal, engineering, planning and other administrative costs, if any, incurred by the City in exercising its rights under this Letter of Credit. Any excess funds remaining on deposit with the City after completing the improvements, after subtracting the legal, engineering, planning and other adminis- trative costs, if any, shall be returned to the Bank. The City shall be the sole judge of performance by the Developer of the work described in this Letter of Credit. Camden Northwestern State Bank By 1,4,-Zlle L f CAMDEN NORTHWESTERN BANK»� 4141 Lyndale Avenue North BiWco P.O. Box 12281 Minneapolis, Minnesota 55412 612/372 6900 AMOUNT $75,000.00 MINNEAPOLIS, MINN. August 1.6, 1982 IRREVOCABLE COMMERCIAL LETTER OF CREDIT NO. 302 TO: City o f Bno o kt yn Centers 6301 Shingte Ctceek Patkway B&ookZyn Centetc, MN 55430 WE HEREBY AUTHORIZE YOU TO VALUE ON CAMDEN NORTHWESTERN STATE BANK OF MINNEAPOLIS, 4141 LVNDALE AVENUE NORTH, MINNEAPOLIS, MINNESOTA, AT -------SIGHT FOR ANV SUM OR SUMS NOT EXCEEDING A TOTAL OF Seventy -hive thousand dottatz and 00/100-------------- FOR ACCOUNT OF Minn -Kota Excavating, Inc., 3401 85th Avenue Nonth, Minneapoti4 , MN 55429 FOR FULL VALUE OF DRAFT. THE DRAFTS DRAWN UNDER THIS CREDIT ARE TO BE ENDORSED HEREON AND MUST BEAR THE CLAUSE, "DRAWN UNDER THE CAMDEN NORTHWESTERN STATE BANK OF MINNEAPOLIS, CREDIT NUMBER 302 _ DATED August 16, 1982 " WE HEREBY AGREE WITH DRAWERS, ENDORSERS, AND BONA FIDE HOLDERS OF DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS CREDIT THAT THE SAME SHALL BE DULY HONORED UPON PRESENTATION AT CAMDEN NORTHWESTERN STATE BANK AS PROVIDED FOR IN ATTACHED EXHIBIT A. CAMDEN NORTHWESTERN STATE BANK Camden Northwestern State Bank of Minneapolis