5.0. SR 02-15-1993 - Laserfiche WebLink

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. . . RECE1VED NOV 23 1992 ~~ United Power Association P.o. Box 800 . Elk River, MN 55330-0800 . (612) 441-3121 November 20, 1992 Mayor Jim Tralle City of Elk: River 720 Dodge Avenue NW. Elk River, MN 55330 Dear Mayor Tralle: As you know, United Power Association (UP A) and City staff have been discussing the City's interest in selling the old Elk: River City Hall property (the "Property") to UP A. UPA's interest in this property is to preserve the required future use of UPA Drive for access to UP A's office and plant site. As a result of these discussions, UP A makes the following proposal: 1. UP A agrees to purchase that portion of the Property which is designated "UP A Drive" on the City's property survey. UP A's interest is in the existing improved road area (approximately the northerly 40 feet of Lots 1, 2, 3, 4 and 5, Block 8, Village of Elk: River) providing access to UPA's plant and office site, and adequate adjoining area upon which to store plowed snow. The exact description of the area to be acquired shall be mutually agreed upon by the parties. 2. The City, by appropriate action, shall vacate UP A Drive as a public street or road on or before the closing of the transaction. 3. Contemporaneously with the vacation of UPA Drive as a public street or road, UP A shall grant an easement to the City upon the vacated street for access to its well and filtration plant. 4. The City agrees not to eliminate or restrict access from UP A Drive to Main Street. 5. The City shall place restrictive and protective covenants on the balance of the Property not acquired by UP A, for the benefit of UP A and its plant and office site, providing that no use of nor improvements thereto shall be made other than a parking lot, lighting, non-commercial signs~ and landscaping. 6. The consideration for the foregoing transaction shall be the sum of $175,000 paid by UPA to the City.