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PETITION, WAIV~I~ AND A(]~J~M~NT FOR INSTALLATION OF <br />TI{UNK WATER. AND SANITARY SEWER. FACILITIES <br /> AND AS~SSMENT OF THE COSTS THEREFOR <br /> <br />· ro: City Council ofth~ City of Elk Kirk': <br /> <br />Comractor Property D~velopers Company, a/Vfinne~ota corporation <br /> <br />(Owner), petition the City ofF_lk Riw. r as follows: <br /> <br />To install the necessary trunk fzc[lifies end l~terel lin~, as det~nincd necessary by <br />thc City of Elk Rivm', to ,xtei'ld City water and ~-it~y sewer ~..rvi~ (thc Trunk <br />Facilities) to thc Property identified on Exhibit A hereto (thc Property). <br /> <br />To assess the Property its proportionate slate of'thc cost ofinstell]nS thc Trunk <br />Facilities, as determined by thc City in its sole discretion. <br /> <br />To apportion the aascssm~mts for thc Trunk Facilities on an a~reage basis to the <br />lots of record within tim Property. <br /> <br />To levy the assessmen~ for thc Trunk Facilities such that the assessments shall be <br />paid over such period of time and at such rate of interest aa the City shall <br />determine, or as provided in a Dcvelopzr's Agreement for d~eiopment of the <br />Propca'ty. <br /> <br />Owners rq~resent and warrant that they are the sole fcc owners of the Property, and <br /> <br />intend to pursue development c~fthe Property. <br /> <br />Owners alsree, hl considcralion of'the City designing and insts~llirlg th~ Trunk Facilities: <br /> <br />To provide the City with a proposed plan for development of the Prop=ty fi'om <br />which the City can dc.~ign the Trunk Facilitic.~ <br /> <br />To gr~t to th~ City, prior to the City ordering installation of the Trunk Facilities <br />to proceed, such ~m*-u or other interests in the Property a., the City shall <br />determine necessary for the purpose ofins*allin8 the Trunk Facilities, and such <br />additional casements or propeny interests as the City shall dclermine necessary to <br />extend City water alld sanitary sewer sereiee to adjacent and surrounding <br />properties. <br /> <br />To provide the City with cash. a letter of cr~it, or some other security acceptable <br />to the City, in its sole discretion, to protect the City in the event that dcvelopm~t <br />oft. he Property does not proc. ccd. Thc emount of the security shall be $35,000.00, <br />to be provided prior to the preparation of plans and specifications for the Trunk <br />Facilities. The security provided shall be forfeited, ia an amount equal to the <br /> <br /> <br />