RES 16-46CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO. 2016-46
RESOLUTION RELEASING CERTAIN PROPERTY FROM RECORDED
DEVELOPERS AGREEMENTS- LOT 1, BLOCK 1 GREAT RIVER
CENTRE OF OTSEGO FOURTH ADDITION
WHEREAS, the CITY OF OTSEGO owns certain property within the CITY OF
OTSEGO described as follows:
LOT 1, BLOCK 1 GREAT RIVER CENTRE OF OTSEGO FOURTH
ADDITION all according to the Plat on file and of record at the Office of the
County Recorder, Wright County, Minnesota; and
WHEREAS, THE CITY OF OTSEGO intends to sell LOT 1, BLOCK 1 GREAT
RIVER CENTRE OF OTSEGO FOURTH ADDITION to P&F PROPERTIES,
INC.; and
WHEREAS, the CITY OF OTSEGO entered into certain agreements with the
previous owner APPELLO GROUP, LLC and 21sT CENTURY BANK as
follows: DEVELOPMENT AGREEMENT GREAT RIVER CENTRE OF
OTSEGO by and between APPELLO GROUP, LLC and the CITY OF OTSEGO
dated May 16, 2006, filed June 15, 2006 as Document No. A1014006 and First
Addendum dated October 29, 2007, filed January 9, 2009 as Document No.
Al 106268 and Second Addendum dated September 22, 2008, filed January 9,
2009 as Document No. Al 106287 at the Office of the County Recorder, Wright
County, Minnesota, and AGREEMENT BETWEEN THE CITY OF OTSEGO
and APPELLO GROUP, LLC RELATIVE TO ASSESSMENTS dated March 9,
2010, filed April 5, 20110 as Document No. Al 144338 and AGREEMENT
BETWEEN THE CITY OF OTSEGO, APPELLO GROUP, LLC AND 21 ST
CENTURY BANK dated March 29, 2013, filed April 19, 2013 as Document No.
A1234757 at the Office of the County Recorder, Wright County, Minnesota.
WHEREAS, P&F PROPERTIES, INC. has requested release of LOT 1, BLOCK
1 from these various Agreements.
NOW, THEREFORE it is hereby resolved by the City Council of the City of
Otsego, Wright County, Minnesota as follows:
The CITY OF OTSEGO hereby releases LOT 1, BLOCK 1 GREAT
RIVER CENTRE OF OTSEGO FOURTH ADDITION from the terms and
conditions of the following Agreements: DEVELOPMENT AGREEMENT
GREAT RIVER CENTRE OF OTSEGO by and between APPELLO GROUP,
LLC and the CITY OF OTSEGO dated May 16, 2006, filed June 15, 2006 as
Document No. Al 014006 and First Addendum dated October 29, 2007, filed
January 9, 2009 as Document No. Al 106268 and Second Addendum dated
September 22, 2008, filed January 9, 2009 as Document No. Al 106287 at the
Office of the County Recorder, Wright County, Minnesota, and AGREEMENT
BETWEEN THE CITY OF OTSEGO and APPELLO GROUP, LLC
RELATIVE TO ASSESSMENTS dated March 9, 2010, filed April 5, 20110 as
Document No. Al 144338 and AGREEMENT BETWEEN THE CITY OF
OTSEGO, APPELLO GROUP, LLC AND 21 ST CENTURY BANK dated
March 29, 2013, filed April 19, 2013 as Document No. A1234757 at the Office
of the County Recorder, Wright County, Minnesota.
2. Release of the Agreements as set forth above is contingent upon transfer of
LOT 1, BLOCK 1 GREAT RIVER CENTRE OF OTSEGO FOURTH
ADDITION from the CITY OF OTSEGO to P&F PROPERTIES, INC.
APPROVED this 9th day of May, 2016 by the Otsego City Council.
Motion to approve made by Council Member Darkenwaidad seconded by-
Council
yCouncil Member fIeidner
IN FAVOR: Stockamp, Darkenwald, Heidner, Warehime
OPPOSED: None
CITY OF OTSEGO
Jessica Stockamp, Mayor
Tami Loff, City Clerk
2