4.5. SR 12-01-2014 - Laserfiche WebLink

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Lease Agreement Between City of Elk River and Houlton Olson Family, LLP This Agreement ("Agreement') entered into the day of September, 2014, by and between the City of Elk River ("City") and Houlton Olson Family, LLP ("Owner"). WHEREAS, Owner is the current owner of a property located within the City commonly known as the Houlton Farm(the "Property"); and WHEREAS, Owner intends to sell the Property to The Trust for Public Land (the "Trust"); and WHEREAS, the Trust intends to donate the Property to the City; and WHEREAS, the Trust will obtain the funds to acquire the Property through a grant from the Lessard-Sams Outdoor Heritage Council ("LSOHC"); and WHEREAS, the grant will be made pursuant to a grant agreement with LSOHC ("Grant Agreement") which will govern future use of the Property and require that the Property be restored over time to natural habitat; and WHEREAS, Owner will, at the time of sale of the Property, pay all special assessments levied or pending against the Property, including certain deferred trunk sewer and water assessments in the amount of$ (the "Deferred Assessments"); and WHEREAS, Owner desires to recover some or all of the amount it pays for the Deferred Assessments by leasing a portion of the Property for agricultural purposes and keeping the proceeds of lease payments; and WHEREAS, upon taking ownership of the Property, the City intends to commission a master plan for the restoration and operation of the Property as natural habitat; and WHEREAS, during this study period and potentially beyond, the Property will likely not be open for public use and, if approved by the LSOHC, could be available for agricultural purposes; and WHEREAS, keeping the land in agricultural production until such time as actual restoration work is ready to begin on that portion of the land is beneficial to the restoration process and helps avoid the propagation of weeds and invasive and undesirable species; and WHEREAS, the City has no objection to Seller keeping the proceeds from an agricultural lease of a portion of the Property until all or a portion of the Property is restored to natural habitat provided the right of Owner to lease the Property for agricultural purposes, and to keep the proceeds of lease payments is approved by LSOHC. NOW, THEREFORE, the City and Owner agree as follows: