4.5. SR 07-09-2012 - Laserfiche WebLink

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Attachment I to Grant Agreement State of Minnesota Greater Minnesota Business Development Public Infrastructure Program General Obligation Bond Financed DECLARATION The undersigned has the following interest in the real property located in the County of Sherburne, State of Minnesota that is legally described in Exhibit A attached and all facilities situated thereon (collectively referred to as the "Restricted Property"): (Check the appropriate box.) ® a fee simple title, a lease, or an easement, and as owner of such fee title, lease or easement, does hereby declare that such interest in the Restricted Property is hereby made subject to the following restrictions and encumbrances: A. The Restricted Property is bond financed property within the meaning of Minn. Stat. § 16A.695 that exists as of the effective date of the grant agreement identified in paragraph B below, is subject to the encumbrance created and requirements imposed by such statutory provision, and camlot be sold, mortgaged, encumbered or otherwise disposed of without the approval of the Commissioner of Mimlesota Management and Budget, or its successor, which approval must be evidenced by a written statement signed by said commissioner and attached to DEED, mortgage, encumbrance or instnunent used to sell or otherwise dispose of the Restricted Property; and B. The Restricted Property is subject to all of the terms, conditions, provisions, and limitations contained in that certain Elk River BDPI Project between the City of Elk River and the Minnesota Department of Employment and Economic Development (DEED), dated June 4, 2012 (the "G.O. Grant Agreement"). The Restricted Property shall remain subject to this State of Miiulesota General Obligation Bond Financed Declaration for as long as the G.O. Grant Agreement is in force and effect; at which time it shall be released therefrom by way of a written release in recordable form signed by both the Commissioner of Minnesota Department of Employment and Economic Development and DEED Greater MN Business Development Public Infrastructure Program 36 Ver- 2/16/10 Grant Agreement for Construction Grants (DEED GO GA- Cnstrctn Grnt)