EDC 01-15-2013 - Laserfiche WebLink

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1/17/07 TERM SHEET APi WORLD HEADQUARTERS NEW BRIGHTON, MINNESOTA Redeveloper: APi Group Headquarters, LLC. APi Group, Inc. will guarantee the obligations of the Redeveloper until a Certificate of Completion is issued following completion of the Minimum Improvements. City: City of New Brighton, Minnesota Redevelopment Property: Outlot A as shown on the plat for Long Lake Landing. City to provide final legal description. City will clarify extent to which a building or other improvements may be constructed on 50-foot drainage easement along the western property line. Purchase Price: $1,250,000.00. If MnDOT takes a portion of the site following conveyance of the site by the City to the Redeveloper,the Redeveloper shall be entitled to keep all proceeds therefrom, except that any proceeds in excess of$8.00/square foot taken shall be paid to the City. Closing Date: As soon as parties have performed their agreements and the Redeveloper has elected to proceed; expected to be on or about April 30, 2007, or earlier, if feasible. Requirements of City: All City improvements are in place in the street and City shall have no expense in connection therewith, Redeveloper will connect to in-place utilities and pay all applicable normal SAC, WAC, park dedication and other fees in connection with obtaining a building permit. City is to complete platting to the necessary level of conveyance and building permit, at City's expense. City, on or before January 15, 2007,will provide to Redeveloper all of the information which City has obtained from MPCA;remediating firms; engineering or testing firms and others as it relates to the conditions at the site and will allow and cooperate with further testing and studying and agrees to cooperate with Redeveloper, should Redeveloper seek closure, no action or no association letters or other levels of relief or approval from MPCA or other agencies. Redeveloper shall have until February 28, 2007 to decline to proceed. Zoning and Land Use Approvals/Easements: Redeveloper will adhere to normal and customary site and building plan review requirements. Redeveloper shall obtain and pay for any necessary variances, rezoning, subdivision, platting, plat amendment, and any other documentation necessary for the construction and sale of the Minimum Improvements.