RES 16-20CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO. 2016-20
RESOLUTION RELEASING CERTAIN PROPERTY FROM RECORDED
DEVELOPERS AGREEMENTS- GATEWAY NORTH AND GATEWAY
NORTH FOURTH ADDITION
WHEREAS, DUKE REALTY LIMITED PARTNERSHIP, an Indiana Limited
Partnership owns certain property within the CITY OF OTSEGO described as
follows:
GATEWAY NORTH, GATEWAY NORTH SECOND ADDITION, GATEWAY
NORTH THIRD ADDITION and GATEWAY NORTH FOURTH ADDITION all
according to the Plats on file and of record at the Office of the County Recorder,
Wright County, Minnesota; and
WHEREAS, DUKE REALTY intends to sell LOT 3, BLOCK 1 GATEWAY
NORTH FOURTH ADDITION; and
WHEREAS, DUKE REALTY LIMITED PARTNERSHIP and the CITY OF
OTSEGO entered into a Master Development Agreement for GATEWAY
NORTH dated September 20, 2006 and recorded on April 5, 2007 as Document
No. 1049064 at the Office of the County Recorder, Wright County, Minnesota;
and
WHEREAS, DUKE REALTY LIMITED PARTNERSHIP and the CITY OF
OTSEGO entered into a Developers Agreement for GATEWAY NORTH
FOURTH ADDITION (LOT 2, BLOCK 1 and LOT 3, BLOCK 1) dated
September 20, 2014 and recorded on October 13, 2015 as Document No. T31156
at the Office of the County Recorder, Wright County, Minnesota; and
WHEREAS, DUKE REALTY LIMITED PARTNERSHIP has requested
termination or release of the Master Development Agreement as referenced above;
and
WHEREAS, DUKE REALTY LIMITED PARTNERSHIP has further requested
that LOT 3, BLOCK 1 be released from the Developers Agreement for
GATEWAY FOURTH ADDITION as referenced above.
NOW, THEREFORE it is hereby resolved by the City Council of the City of
Otsego, Wright County, Minnesota as follows:
1. The CITY OF OTSEGO hereby releases that property owned by DUKE
REALTY LIMITED PARTNERSHIP within GATEWAY NORTH,
GATEWAY NORTH SECOND ADDITION, GATEWAY NORTH
THIRD ADDITION and GATEWAY NORTH FOURTH ADDITION
from the terms and conditions of that Master Development Agreement
between DUKE REALTY LIMITED PARTNERSHIP and THE CITY OF
OTSEGO dated September 20, 2006 and recorded on April 5, 2007 as
Document No. 1049064.
2. THE CITY OF OTSEGO hereby releases LOT 3, BLOCK 1 from the terms
and conditions of that Developers Agreement for GATEWAY NORTH
FOURTH ADDITION (LOT 2, BLOCK 1 and LOT 3, BLOCK 1) dated
September 20, 2014 and recorded October 13, 2015 as Document No.
T31156.
APPROVED this 8f day of February, 2016 by the Otsego City Council.
Motion to approve made by Council Member Schroeder and seconded by
Council Member Darkenwald
IN FAVOR: Heidner, Schroeder, Darkenwald
OPPOSED: None
CITY OF OTSEGO
q, I
Vern Heidner, Acting Mayor
.i
Tami Loff, City Clerk
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