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<br />,~;I <br /> <br />t '. <br /> <br />. , <br /> <br />RESOLUTION NO. 84-142 <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RA~~SEY <br />STATE OF MINNESOTA <br /> <br />!' <br /> <br />EXECUTION DRAFT <br />September 19, 1984 <br /> <br />ADDENDUM AND AMENDMENT <br />TO <br />CONTRACT FOR PRIVATE DEVELOPMENT <br />AND LEASE-PURCHASE AGREEMENT <br />BY AND BETWEEN <br />CITY OF NEW BRIGHTON, MINNESOTA <br />AND <br />WINFIELD DEVELOPMENTS, INC. <br /> <br />THIS AGREEMENT, made on or as of the 25th day of <br />September, 1984, by and between the Ci ty of New Br ighton, <br />Minnesota (the "City"), a municipal corporation and pOliti- <br />cal subdivision organized under the laws of Minnesota, <br />Winfield Developments, Inc. ("Winfield"), a corporation <br />organized and existing under the laws of the State of Minne- <br />sota, New Brighton Venture I, a Minnesota general partner- <br />ship ("Venture I") and New Brighton Venture II, a Minnesota <br />general partnership ("Venture 11") and constituting an <br />addendum to and amendment of that certain Contract for Pri- <br />vate Development and Lease-Purchase Agreement dated June 8, <br />1983 (the "Development Agreement"), by and between the City <br />and Winfield and amending that certain Certificate and Let- <br />ter Agreement and Amendment to Assessment Agreement, dated <br />as of December 1, 1983, among the City, Winfield and Venture <br />II: <br /> <br />WITNESSETH: <br /> <br />WHEREAS, the City and Winfield have executed the Devel- <br />opment Agreement and that certain Assessment Agreement, <br />dated as of June 8, 1983 (the "Original Assessment Agr,ee- <br />ment") wi th respect to the covenants of Winf ie1d to con- <br />struct an approximately 54,220 square foot office/warehouse <br />facili ty (the "Minimum Improvements") (the "Project") upon <br />certain real property located within the City (the "Develop- <br />ment Property") and the covenants of the Ci ty to provide <br />certain financial incentives and to pay certain public de- <br />velopment costs of the Project, including certain covenants <br />to reduce the rent payable by Winf ield and the Purchase <br />Pr ice of the Development Property to Winf ield under the <br />Development Agreement upon the construction of Addi tional <br />Improvements (as defined in the Development Agreement) upon <br />the Development Property and execution of an Assessment <br />Agreement establishing an Assessor I s Minimum Market Value <br />(as defined in the Development Agreement) therefor (a "Sup- <br />plemental Assessment Agreement, If as defined in the Agree- <br />ment): and <br />