CCP 01-13-2009 (3) - Laserfiche WebLink

Home Browse Search

EXHIBIT G Waiver of Relocation Benefits AGREEMENT REGARDING WAIVER OF RELOCATION BENEFITS THIS AGREEMENT REGARDING WAIVER OF RELOCATION BENEFITS (this "Agreement") is made as of the day of , 2009, by and between MT Properties, Inc., a Minnesota corporation ("Seller") and the City of New Brighton, a Minnesota municipal corporation ("Purchaser"). RECITALS A. Purchaser has entered into a Purchase and Land Exchange Agreement with Seller under which Seller has agreed to convey to Purchaser the property legally described on Exhibit A (the "Property") and Purchaser has agreed to simultaneously convey to Seller certain replacement property. B. Seller acknowledges that it sought and received advice of legal counsel, and has been specifically advised by such counsel, as to relocation benefits that may be available to Seller in connection with the Property under the federal Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 as amended, and similar provisions under Minnesota law (together, the "Act"), such benefits being summarized in Exhibit B hereto. D. Seller and Purchaser desire to enter into this Agreement to confirm their understanding that the Purchaser's performance of the Purchase and Land Exchange Agreement will satisfy in full any claim for any relocation benefits and/or other relocation costs due or payable to Seller, whether pursuant to the Act or otherwise. NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto do hereby agree as follows: 1. Seller acknowledges that the Purchaser's performance of the terms and conditions of the Purchase and Land Exchange Agreement, satisfies in full any amounts for relocation assistance or relocation benefits that Purchaser otherwise may be obligated to pay to Seller under the Act or any other federal or state law, and that performance of the Purchase and Land Exchange Agreement will constitute full compensation due Seller for all claims of any description against Purchaser under the Act, including but not limited to attorneys' fees, relocation benefits, and any damages to the going concern or goodwill of any business located on the Property. 2. Accordingly, Seller disclaims and waives any right to receive relocation benefits or payments under the Act or any other applicable federal or state law with respect to the Property. JBD-209307v8 RC 145-408