HomeMy WebLinkAboutContract 1922
SUBORDINATION AND CONSENT AGREEMENT
THIS SUBORDINATION AND CONSENT AGREEMENT (this "Agreement") made and entered into
as of this 12th day of July, 2006, by and between the Columbia Heights Economic Development
Authority, a political subdivision under the laws of the State of Minnesota (the "Authority"), the City of
Columbia Heights, a Minnesota municipal corporation ("City") and BNC National Bank, a national
banking association ("Lender").
PRELIMINARY RECITALS:
A. Huset Park Development Corporation, a Minnesota corporation (the "Redeveloper"), the
Authority and the City have entered into a certain Contract for Private Redevelopment dated as of
October 25, 2004 (together with any amendments, the "Contract") relating to the redevelopment
of certain real property situated in the County of Anoka, State of Minnesota.
B. As defined in the Contract, the "Redevelopment Property" now includes the land legally
described in Exhibit A attached hereto (said property is also referred to as the "Premises").
C. Redeveloper is receiving a loan from Lender pursuant to a Land Development Loan Agreement by
and between Redeveloper and Lender dated April 18, 2005 (the "Loan Agreement"), and
evidenced by an Amended and Restated Promissory Note in the amount of Twenty Four Million
One Hundred Thousand Dollars ($24,100,000.00) (the "Note"), which Note is, among other things,
secured by the following instruments executed and delivered by Redeveloper to Lender (together
with the Loan Agreement, Note and other documents executed in connection therewith referred to
as the "Loan Documents"):
a. Mortgage and Security Agreement and Fixture Financing Statement dated April 18, 2005,
recorded April 27, 2005, as Document No. 482662 in office of the AnokaCounty Registrar
of Titles, and recorded April 27, 2005, as Document No. 1974721 in office of the Anoka
County Recorder, which was amended by an Amendment to Mortgage dated April 29,
2005, recorded August 8, 2005 as Document No. 484002 in office of the Anoka County
Registrar of Titles, and recorded August 8, 2005 as Document No. 1977285 in the office
of the Anoka County Recorder, a Second Amendment to Mortgage dated May 24, 2005,
recorded , 2005 as Document No. in the office of
the Anoka County Registrar of Titles, and recorded , 2005 as
Document No. in the office ofthe Anoka County Recorder and a Third
Amendment to Mortgage dated June 1, 2005, recorded , 2005 as
Document No. in the office of the Anoka County Registrar of Titles, and
recorded 2005 as Document No. in the office of
the Anoka County Recorder, securing the Note (as the same may be amended from time to
time, the "Mortgage"), encumbering the Premises;
b. Collateral PI edge and Security Agreement dated July 12,2006 by and between Redeveloper
and Lender (as the same may be amended from time to time, the "Security Agreement"),
granting a security interest to Lender in all of Redeveloper's rights, title and interest in,
under and pursuant to the Contract; and
c. Uniform Commercial Code Financing Statements filed in the office of the Minnesota
Secretary of State.
D. Lender has required that the Authority and the City subordinate their respective rights under the
Contract to the Loan Documents and the rights of Lender lmder the Loan Documents and
acknowledge and consent to Lender's rights under the Loan Documents.
E. The Authority and the City are agreeable to subordinating their respective rights under the Contract
to the Loan Documents and the rights of Lender under the Loan Documents and to acknowledge
and consent to the other matters referred to herein.
NOW, THEREFORE, in consideration of the sum of One and No/IOO Dollars ($1.00) and other good
and valuable consideration, the receipt and sufficiency of which is acknowledged, it is agreed as follows:
1. The Authority and the City each certify that as of the date of this Agreement no default exists under
the terms of the Contract.
2. Notwithstanding the provisions of the Contract, the Authority and the City subordinate in all
respects to the Loan Agreement, Note, Mortgage and the Loan Documents, and the interest of
Lender thereunder, and to the liens of the Mortgage, Security Agreement and the Loan Documents,
any and all right, title or interest the Authority and the City has, or may hereafter acquire in the
Premises, or any insurance proceeds and condemnation awards with respect thereto, and including
without limitation any rights of reversion, reentry or forfeiture of the Premises, if any, available to
the Authority and the City, which are in all respects subordinate to the Mortgage and the Loan
Documents and the liens created thereby, notwithstanding the order of recording or any other
priority requirements which may otherwise exist.
3. The Authority and the City each acknowledge receipt of copies of the Mortgage, Note, the Loan
Agreement, Security Agreement and the Loan Documents and acknowledge that this Agreement,
the Mortgage, Note, Security Agreement, the Loan Agreement, the Loan Documents and the loan
evidenced thereby are each hereby authorized and approved under the terms of the Contract.
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4. Following the occurrence of any event of default under the Loan Agreement, Note, the Mortgage,
Security Agreement or the Loan Documents, the Authority and the City hereby consent to the
transfer of the Premises and/or Redeveloper's rights under the Contract to Lender.
5. The Authority and the City each acknowledge that under the terms ofthe Loan Agreement, Lender
may at its option upon an event of default, complete or cause the completion of the Project (as
defined in the Loan Agreement). The Authority and the City agree that if Lender elects to complete
or cause the completion of the Minimum Improvements (as defined in the Contract) (and each
Phase thereof), upon completion of the Minimum Improvements (and each Phase thereof) the
Authority shall issue a Certificate of Completion in recordable form as required by the Contract,
notwithstanding any default by Redeveloper under the Contract. Nothing contained in this
paragraph shall be deemed to require Lender to complete the Minimum Improvements, nor shall
anything in this paragraph be deemed to prevent Lender from commencing foreclosure proc eedin gs
or pursuing any other remedy it may have under the Loan Agreement, Note, Security Agreement,
the Mortgage or the Loan Documents.
6. If Lender exercises its rights to foreclose its Mortgage against the Premises, accepts a deed in lieu
offoreclosure to the Premises, or exercises its rights under the Security Agreement, the Authority
agrees that, subject to the performance of the tenns and conditions ofthe Contract by Lender, or
its successors or assigns, Lender shall be entitled to all of the rights and benefits afforded
Redeveloper under the Contract as though Lender were the Redeveloper, including without
limitation any rights the Redeveloper has to receive Initial Notes and payments under those Initial
Notes, proceeds of any Refinancing Notes, proceeds of any Deed or Met Council grants, or any
other payments owed by City or Authority to Redeveloper under the Contract.
7.
a.
The Authority and City each acknowledge that Redeveloper has assigned to Lender
all of its right, title and interest in and to all the Initial Notes to be issued under the
Contract and proceeds of any Refinancing Notes to be issued under the Contract,
all to the extent such interests have not been previously assigned to The Ryland
Group, Inc. by the Redeveloper. Upon written instruction from Lender, Initial
Notes shall be issued to Lender, Lender shall be the registered owner of such Initial
Notes as are issued to Lender, and/or all payments under any Initial Notes shall be
made directly to Lender, and proceeds of any Refinancing Notes shall be paid
directly to Lender. Notwithstanding the foregoing, the Authority and City shall be
fully protected in making payments under any Initial Note, and paying proceeds of
any Refinancing Note, to the registered owner thereof. If the Redeveloper and the
Lender make inconsistent demands on the Authority or City for payment of any
Initial Note or Refinancing Note, or otherwise challenge the appropriate party to
which payment is to be made, the Authority shall be entitled to pay the disputed
amount to the registered owner of the relevant Initial Note, and upon such payment
the Authority's obligation with respect to making such payment will be deemed
fully satisfied.
b. The Authority acknowledges that (i) the aggregate principal amount ofthe Initial Notes to
be issued to Redeveloper is Seven Million Nine Hundred Fifty-Five Thousand Four
Hundred Dollars ($7,955,400.00), which amount represents the amount of assistance
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initially determined by the Authority as required to provide Redeveloper a fifteen percent
(15%) return on costs as master Redeveloper, all as described in Section 3.8 of the
Contract; (ii) the maximum principal amount is subject to increase (or decrease) as
described in Section 3.9 ofthe Contract if Redeveloper's actual costs are higher or lower
than shown in Schedule H of the Contract; (iii) the actual aggregate principal amount of all
Initial Notes will depend on the actual Schedule H costs, the timing of development and
market value of such development, and the Projected Tax Increment as defined in Section
3.8(b) of the Contract; (iv) no Initial Notes have been issued as of the date of this
Agreement; (v) the aggregate principal amount of the Initial Notes may be significantly
greater than Seven Million Nine Hundred Fifty-Five Thousand Four Hundred Dollars
($7,955,400.00) after adjustments described in the Contract, and (vi) the Authority restates
the qualifications made in Section 3.8(g) of the Contract, applying to Lender as assignee
of any ri ghts of Redeveloper under the Contract.
8. The Authority and the City each represent to Lender as follows:
a. The making, delivery and performance ofthis Agreement have been duly authorized by all
necessary action and this Agreement, when executed, shall be the legal, valid and binding
obligations of the Authority, enforceable in accordance with its terms;
b. The Project is pennitted by, and if completed in accordance with the Construction Plans (as
defined in the Contract) submitted to and approved by the Authority under the Contract,
will, to the knowledge of the Authority, comply with all applicable zoning ordinances; and
c. The making, delivery and performance of the Contractis the legal, valid and binding
obligation of the Authority.
9. In the event that there occurs a default under the Mortgage or the Loan Documents, Lender agrees
to provide a copy to the Authority of any written default notice given to Redeveloper relating to
a default under the Mortgage or the other Loan Documents contemporaneously with the delivery
of such written default notice to Redeveloper and Lender agrees to that the Authority shall have
the right, but not the obligation, to cure any such default on behalf of Redeveloper within such cure
periods as are available to Redeveloper under the Mortgage or the other Loan Documents. In the
event there is a default under the Contract, the Authority shall transmit to Lender a copy of any
notice of default given by the Authority pursuant to the Contract.
10. All notices, certificates or other communications hereunder shall be sufficiently given and shall be
deemed given when mailed by registered or certified mail, postage prepaid, with proper address
as indicated. Lender, the City and the Authority may, by written notice given by each to the others,
designate any other address or addresses to which notices, certificates or other communications to
them shall be sent when required as contemplated by tlns Agreement. Until otherwise provided
by the respective parties, all notices, certificates and communications to each of them shall be
addressed as follows:
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(a) To Lender: BNC National Bank
333 South Seventh Street, Suite 150
Minneapolis, Minnesota 55402
Attn: Brian K. Whitemarsh
(b) To the Authority or the City: Columbia Heights Economic Development Authority
590 40th Avenue Northeast
Columbia Heights, Minnesota 55421
Attn: Executive Director / City Manager
11. The Authority and the City and Lender acknowledge and agree that Lender is not a party to the
Contract (and by executing this Agreement does not become a party to the Contract); nor does
Lender assume any obligation thereunder; that this Agreement contains the entire agreement among
the parties with respect to the matters set forth herein; that this Agreement may be amended only
in writing signed by all the parties hereto; that this Agreement shall be construed under the laws
of the State of Minnesota; that this Agreement shall be binding upon and inure to the benefit of
each of the parties hereto and their respective successors and assigns; and that this Agreement may
be executed in any number of counterparts, each of which shall constitute the same instrument.
[Signatures begin on next page]
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IN WITNESS WHEREOF, the parties hereto have cause this Agreement to be executed as of the date
first above written.
Columbia Heights Economic Development
Authority
By:
I
J-i~ X,
Don Mur6!yn Jr. {I
President
Its:
By:
Its: Executi ve Di rector
ST A TE OF MINNESOTA)
) ss.
COUNTY OF ANOKA )
day of J L' I '~l
J
thet>'l E' :;;,', ..\'<\<_~- and
of the Columbia Heights Economic Development Authority, a
public body politic and corporate, on behalf of the Authority.
The foregoing instrument was acknowledged before me this
and
,2006,
. ,-
CHERYl A. BAKKEN
IlUTARYPUlll.lC-MlNNESOTA
I ..-.......-
~~.
[Signature page 1 of 3 to Subordination and Consent Agreement)
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City of Columb. ~Heights r
Its:
By:
Its:
STATE OF MINNESOTA )
) ss.
COUNTY OF ANOKA )
The foregoing instrument was acknowledged before me this day of ,2006,
and the Mayor and the City Manager, respectively,
of the City of Columbia Heights, a Minnesota municipal corporation, on behalf of the municipal
corporation.
PATRICIA V. MUSCOVITZ
NOTARY PUBLIC
My Comm Expires 01-31.2010
[Signature page 2 of 3 to Subordination and Consent Agreement)
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STATE OF MINNESOTA)
) ss.
COUNTY OF HENNEPIN )
BNC National Bank
(A National Banking Ass
By:
Brian K. Whitemarsh
Its: Executive Vice President
The foregoing instrument was acknowledged before me this day of July, 2006, by Brian K.
Whitemarsh, the Executive Vice President ofBNC National Bank, a national banking association, on
behalf of said banking association.
This Document was Prepared By,
Recording is Requested By and
When Recorded Mail To:
Leonard, O'Brien, Spencer, Gale & Sayre, Ltd.
lOO South Fifth Street, Suite 2500
Minneapolis, Minnesota 55402
Attn: Grover C. Sayre, III
@PFDesktop\::ODMNGRPWISE/GWDSTP.GWPOSTP.STPLIB1:344616.3
[Signature page 3 of 3 to Subordination and Consent Agreement]
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EXHIBIT A
TO
SUBORDINA TION AND CONSENT AGREEMENT
Legal Description
The Property referred to in this Agreement is situated in the County of Anoka, State of Minnesota, and is
legally described as follows:
Parcel 1:
Lots 31, 32, 33, 34,35,36,37, 38,47,48,49,50,51, 52, 53, 54,55 ,56,57,58,59,60,61,62,63,64,83,
84,85,86,87,88, and 89, Block 1, and Outlot B, Huset Park.
Together with easements for the benefit of Outlot B, Huset Park, as contained in Access, Parking and
Utility Easement Agreement by and between Park View of Huset Park Townhome Association, a
Minnesota nonprofit corporation, and Huset Park Development Corporation, a Minnesota corporation,
dated February 15, 2006, filed February 17, 2006, as Document Nos. 1982243.003 (Abstract) and
486543.003 (Torrens).
(Torrens Property, Certificate No. 107684)
Parcel 2:
Intentionally Deleted
Parcel 3:
All of Lots 7 and 8, Rearrangement of Block E, Columbia Heights Annex, Anoka County, Minnesota.
That part of Lots 5, 6 and 9, said Rearrangement of Block E, Columbia Heights Annex, lying Easterly of
the East line of University Avenue NE, except that part thereof lying Northerly and Westerly of the
following described line:
Commencing at the Northeast comer of said Lot 5, in said Rearrangement of Block E, Columbia Heights
Annex; thence South 30 degrees 19 minutes 23 seconds East on an assumed bearing along the Easterly line
of Lots 1 through 8 in said Rearrangement of Block E, a distance of 32.33 feet to a 112" inside diameter
iron pipe monument capped R.L.S. 10832, the actual point of beginning; thence South 89 degrees 45
minutes 19 seconds West a distance of 107.77 feet to a 1/2" inside diameter iron pipe monument capped
R.L.S. 10832; thence South 51 degrees 48 minutes 07 seconds West a distance of 115.26 feet to a 1/2"
inside diameter iron pipe monument capped R.L.S. 10832; thence South 1 degree 03 minutes 07 seconds
East a distance of 54.97 feet to a 1/2" inside diameter iron pipe monument capped R.L.S. 10832; thence
South 89 degrees 41 minutes 39 seconds West a distance of 134.51 feet, more or less, to a point on the
Easterly line of University A venue NE distant 734.92 feet Southerly from the intersection of said Easterly
line of University A venue NE and the Northerly line of Lot 1 in said Rearrangement of Block E, Columbia
Heights Annex, and there terminating.
EXCEPT
That part of Lot 5, described as follows: Commencing at the Northeast corner of said Lot 5; thence South
30 degrees 19 minutes 23 seconds East on an assumed bearing along the Easterly line of said Lot 5 a
distance of 32.33 feet to a 1/2" inside diameter iron pipe monument capped R.L.S. 10832, to the actual
point of beginning; thence South 89 degrees 45 minutes 19 seconds West a distance of 107.77 feet to a 1/2"
inside diameter iron pipe monument capped R.L.S. 10832; thence South 51 degrees 48 minutes 07 seconds
West a distance of 27.64 feet; thence North 89 degrees 10 minutes 53 seconds East a distance of 138.61
feet to the Easterly line of said Lot 5; thence North 30 degrees 19 minutes 23 seconds West along said
Easterly line of said Lot 5 a distance of 18.04 feet to the point of beginning and there terminating.
Lots 41 and 42, Block 70, Columbia Heights Annex to Minneapolis, except those portions thereof taken
for street or highway purposes.
Lots 43 to 54, inclusive, Block 70, said Columbia Heights Annex to Minneapolis.
That part of Block E, Columbia Heights Annex to Minneapolis, Anoka County, Minnesota, described as
follows:
Beginning at the Southeast corner of Block E; thence North along the West line of Fifth Street NE, 171.6
feet; thence Northwesterly along the Southwesterly line of Lookout Place, 182 feet; thence Southwesterly
to a point in the Northeasterly line of alley and in the Northwesterly radial boundary line of the above
described part of said Block 70, said radial boundary line being produced to the Northeasterly line of said
alley; thence along the said Northeasterly line of alley Southeasterly to the North line of Thirty-Eighth
Avenue NE; thence East along the North line of Thirty-Eighth Avenue to the point of beginning.
Vacated Edgemoor Place lying Easterly of the Easterly line of University Avenue NE and Northerly of the
North line of 38th Avenue NE.
The vacated alley lying Easterly of and adjacent to Block 70, Columbia Heights Annex to Minneapolis,
and bounded on the West by the Easterly line of University Avenue NE and bounded on the South by the
Northerly line of 38th Avenue NE.
Lots 7 through 12, inclusive, Block 69, Columbia Heights Annex to Minneapolis; the vacated alley in
Block 69, Columbia Heights Annex to Minneapolis, lying Southerly of the Westerly extension of the South
line of the Northerly 12.5 feet of Lot 11 in said Block 69; and vacated Lookout Place lying Southerly of
the Westerly extension of the South line of the Northerly 12.5 feet of Lot 11 in said Block 69.
That part of Block 98, Columbia Heights Annex to Minneapolis, lying Easterly of the East line of
University Avenue NE.
(Abstract Property)
Lots 13, 14, 15, 16, Block 69, Columbia Heights Annex to Minneapolis, and that part of Lot 17, Block 69,
Columbia Heights Annex to Minneapolis, lying Southerly of the Westerly extension of the North line of
the South half of Lot lOin said Block 69.
(Torrens Property, Certificate No. 105491)
Parcel 4:
Lots 1,2, 3,4,5 and 6 in Block 90 in Columbia Heights Annex to Minneapolis.
Lot 4, Auditor's Subdivision No. 50, Anoka County, Minnesota.
That part of Lot 5, Auditor's Subdivision No. 50, Anoka County, Minnesota, beginning at the southwest
comer of Lot 4 in said subdivision; thence East along the line dividing said Lots 4 and 5 a distance of
eighty-six and five tenths (86.5) feet to an angle point in said line; thence North along the line dividing said
Lots 4 and 5, a distance of four and thirty-five hundredths (4.35) feet to the actual point of beginning of
the tract ofland to be described; thence continuing North along said dividing line one hundred thirteen and
eighty-three hundredths (113.83) feet to an angle point in said line; thence Easterly along the dividing line
between said Lots 4 and 5 a distance of one hundred seventy-two and eight tenths (172.8) feet to the east
line of said Lot 4; thence South along the extension of the east line of said Lot 4 a distance of two and four
tenths (2.4) feet; thence Southwesterly along a curved line, convex to the northwest, with a radius of
seventeen hundred thirty and twenty-five hundredths (1,730.25) feet and running parallel with and eleven
and five tenths (11.5) feet Northwesterly of the center line of a spur track running through said Lot 5, to
the actual point of beginning.
Lots 7, 8, 9, 10, 11, 12, 13, 14 and 15 in Block 90 in Columbia Heights Annex to Minneapolis; also the
following described portion of Block "G" said Columbia Heights Annex to Minneapolis:
Commencing at the southwest comer of said Block "G", running thence north along the line between said
Block "G" and the above mentioned Block 90, 360 feet to the northeast comer of said Lot 7 in said Block
90; running thence east parallel with the south line of said Block "G" 279.9 feet to a point 50 feet westerly
at right angles from the center of the railroad tract operated across said Block" G"; thence running southerl y
curving to the left along a line which is the right of way line of said railroad and 50 feet westerly from and
parallel with said tract, said tract being upon a curve of 5 degrees, to the south line of said Block "G";
running thence west along the south line of said Block "G" 194.4 feet to the place of beginning.
Being the same premises conveyed to the party of the first part by the Columbia Heights Foundry Co., a
corporation of the State of Minnesota, by deed bearing date the 2nd day of August, 1909, and recorded on
August 3rd, 1909 in Book "61", Page 539.
Commencing at a point 279.9 feet easterly from the northeast corner of Lot 7, Block 90, Columbia Heights
Annex to Minneapolis, and in a line drawn from said northeast corner of said Lot 7 parallel with the south
line of Block "G" of said Columbia Heights Annex to Minneapolis, said point of beginning being the
northeasterly corner of a tract of land heretofore under date of August 2nd, 1909, conveyed by Columbia
Heights Foundry Company to said party of the first part; thence running east on a line parallel with the
south line of said Block "G" to a point 6 feet westerly from the center of the westerly rail of the railroad
tract running in a northerly and southerly direction across said Block "G", said tract being the first track
east of the tract of land conveyed to said party by said deed of August 2nd, 1909; thence southerly, on a
5 degree curve to the left, along a line parallel with and 6 feet distant westerly from the center of said
westerly rail of said railroad tract, to the South line of said Block "G"; thence westerly along said south line
of said Block "G" to a point 194.4 feet easterly from the southwest corner of said Block "G", said point
easterly from said southwest corner of said Block "G" being the southeasterly corner of said tract heretofore
under date of August 2nd, 1909 conveyed to said first party; thence running north on a 5 degree curve to
the right along the easterly line of said tract deeded said first party on August 2nd, 1909, and parallel with
said westerly rail of said railroad tract, to the place of beginning.
The last described premises being subject to the provisions of a certain agreement bearing date the 30th
day of December, 1909, made between the party of the first part and the Arcade Investment Company, a
Minnesota corporation, and being the same premises conveyed to the party of the first part by the said The
Arcade Investment Company by deed bearing date the 30th day of December, 1909, and recorded on the
21st day of February, 1910, in Book "60", Page 351.
All that part of Block "G", Columbia Heights Annex to Minneapolis, described as follows, to-wit:
Commencing at a point 86.5 feet easterly from the northeast corner of Lot 7, Block 90 in said Columbia
Heights Annex to Minneapolis, and in a line drawn easterly from said northeast corner of said Lot 7 and
parallel with the south line of said Block "G"; deflecting thence 90 degrees from said line to the north and
running thence north a distance of 118.18 feet to a point 6 feet south, measured at right angles from the
center of the southerly rail of the Thiem Manufacturing Company's spur track which crosses said Block
"G", as the same is now laid out and established on the ground; thence deflecting to the right 90 degrees,
16 minutes and 30 seconds and running thence southeasterly a distance of 100 feet to a point 6 feet
southerly, measured at right angles from the center of the said southerly rail of said spur track; thence
deflecting to the left 8 degrees 52 minutes 30 seconds, and running thence northeasterly a distance of 100
feet to a point 6 feet southerly, measured at right angles from the center of said southerly rail of said spur
track; thence deflecting to the left 12 degrees 56 minutes, 30 seconds and running thence northeasterly a
distance of76.96 feet to a point 6 feet southerly, measured at right angles from the center of said southerly
rail of said spur track and 47.64 feet westerly, measured at right angles from the center of the westerly rail
of the Soo Railway track which crosses said Block "G" farthest to the west; thence deflecting to the right
140 degrees 3 minutes and running thence southwesterly a distance of 100 feet to a point 47.64 feet
westerly, measured at right angles from the center of the said westerly rail of said Soo track; thence
deflecting to the left 5 degrees 2 minutes, and running thence southwesterly a distance of 79.55 feet to a
point 47.64 feet westerly, measured at right angles from the center of the said westerly rail of said Soo
Railway track, said point being also 276.61 feet easterly from said northeast corner of said Lot 7, Block
90, and in a line drawn from said northeast corner of said Lot 7 and parallel with the south line of said
Block "G"; thence deflecting to the right 66 degrees 25 minutes and running thence west along said line
drawn easterly from said northeast corner of said Lot 7, Block 90, and parallel with the south line of said
Block "0", a distance of 190.11 feet to the place of beginning.
Being the same premises conveyed to the party of the first part by the said The Arcade Investment
Company by deed bearing date the 24th day of July, 1911, and recorded on the 14th day of November,
1911, in Book "69" Page 137.
All that part of Block "0", Columbia Heights Annex to Minneapolis, described as follows, to-wit:
Commencing at a point 321.36 feet easterly from the northeast corner of Lot 7, Block 90, said Columbia
Heights Annex to Minneapolis and in a line drawn from said northeast corner of said Lot 7 and parallel
with the south line of said Block "0", said point being also 6 feet westerly, measured at right angles from
the center of the westerly rail of the Soo Railway Company's track which crosses said Block "0" farthest
to the west; thence west along said line described as drawn easterly from the said northeast corner of said
Lot 7 and parallel with the south line of said Block "0" a distance of 44.75 feet to a point, said point being
276.61 feet easterly from the said northeast corner of said Lot 7, Block 90, measured along said line
described as drawn parallel with the south line of said Block "0"; thence deflecting to the right 113 degrees
35 minutes, and running thence northeasterly a distance of 79.55 feet to a point 47.64 feet westerly,
measured at right angles from the center of said westerly rail of said Soo track; thence deflecting to the
right 5 degrees 2 minutes, and running thence northeasterly 100 feet to a point 6 feet southerly, measured
at right angles from the center of the southerly rail of the Thiem Manufacturing Company's spur track
which crosses said Block "0", as the same is now laid out and established on the ground, and 47.64 feet
westerly, measured at right angles from the center of the westerly rail of said Soo track; thence deflecting
to the right 39 degrees 57 minutes and running thence northeasterly a distance of 23.04 feet to a point 6
feet southerly, measured at right angles from the center of the southerly rail of said Thiem spur track;
thence deflecting to the left 11 degrees 22 minutes and 30 seconds, and running thence northeasterly 65.15
feet to a point 6 feet southerly, measured at right angles from the center of the said southerly rail of said
Thiem spur track, and 6 feet westerly, measured at right angles from the center of the westerly rail of the
said Soo track; thence deflecting to the right 154 degrees 32 minutes, and running thence southwesterly
a distance of 100 feet to a point 6 feet westerly, measured at right angles from the said westerly rail of said
Soo track; thence deflecting to the left 4 degrees 40 minutes and running thence southeasterly 100 feet to
a point 6 feet westerly, measured at right angles from the said westerly rail of said Soo track; thence
deflecting to the left 3 degrees 18 minutes, and running thence southwesterly a distance of 33.30 feet to
the point of beginning.
EXCEPT That part of Lot 5, Auditor's Subdivision No. 50, Anoka County, Minnesota, beginning at the
southwest corner of Lot 4 in said Subdivision; thence East along the line dividing said Lots 4 and 5 a
distance of 86.5 feet to an angle point in said line; thence North along the line dividing said Lots 4 and 5,
a distance of 4.35 feet to the actual point of beginning of the tract of land to be described; thence
continuing North along said dividing line 113.83 feet to an angle point in said line; thence Easterly along
the dividing line between said Lots 4 and 5 a distance of 172.8 feet to the East line of said Lot 4; thence
South along the extension of the East line of said Lot 4 a distance of 2.4 feet; thence Southwesterly along
a curved line, convex to the Northwest, with a radius of 1730.25 feet, and running parallel with and 11.5
feet Northwesterly of the center line of a spur track running through said Lot 5, to the actual point of
beginning.
(Abstract Property)
AND
The South 1159.70 feet of the following description:
That part of University A venue (Trunk Highway No.4 7) lying North of the westerly extension of the south
line of Block 90, COLUMBIA HEIGHTS ANNEX TO MINNEAPOLIS, ANOKA COUNTY,
MINNESOTA, South of the south line of FORTIETH AVENUE N.E. and East of the following described
line:
Beginning at the southwest comer of said Block 90; thence South 89 degrees 56 minutes 00 seconds West,
assumed bearing, along the westerly extension of the south line of said Block 90 a distance of 32.00 feet;
thence North 00 degrees 41 minutes 54 seconds West, a distance of 440.00 feet; thence North 00 degrees
59 minutes 24 seconds West, a distance of 585.00 feet; thence North 02 degrees 21 minutes 12 seconds
West, a distance of 870.58 feet, more or less, to the south line of said FORTIETH AVENUE N.E. and there
terminating.
AND
That part of LOOKOUT PLACE and that part of the vacated ALLEY, as dedicated in the plat of
COLUMBIA HEIGHTS ANNEX TO MINNEAPOLIS, ANOKA COUNTY, MINNESOTA, lying north
of the westerly extension of the south line of the northerly 12.5 feet of Lot 11 and lying south of the
westerly extension of the North line of the South half of Lot 10.
AND
That part of THIRTY-EIGHTH AVENUE N.E., as dedicated in the plat of COLUMBIA HEIGHTS
ANNEX TO MINNEAPOLIS, ANOKA COUNTY, MINNESOTA, lying west of the southerly extension
of the westerly right of way of FIFTH STREET N.E. and lying east of a line drawn from the Northwest
comer of Lot 1, AUDITORS SUBDIVISION NUMBER 50, Anoka County, Minnesota to the Southwest
corner of Block 98, COLUMBIA HEIGHTS ANNEX TO MINNEAPOLIS, ANOKA COUNTY,
MINNESOTA.
AND
That part of FIFTH STREET N.E., as dedicated in the plat of COLUMBIA HEIGHTS ANNEX TO
MINNEAPOLIS, ANOKA COUNTY, MINNESOTA, lying easterly of the westerly line of said FIFTH
STREET N.E. (as dedicated), and northwesterly and southwesterly of the following described line:
Commencing at the southeast corner of BLOCK E of said COLUMBIA HEIGHTS ANNEX TO
MINNEAPOLIS, ANOKA COUNTY, MINNESOTA; thence North 00 degrees 07 minutes 50 seconds
East, assumed bearing along the east line of said BLOCK E, a distance of 8.76 feet to the actual point of
beginning of the line to be described; thence northeasterly along a non-tangential curve concave to the
southeast, a distance of 55.28 feet, said curve has a radius of 815.00 feet, a central angle of 03 degrees 53
minutes 10 seconds, and a chord that bears North 49 degrees 27 minutes 35 seconds East; thence
northwesterly, along a non-tangential curve, concave to the northeast a distance of 133.00 feet to said
westerly line of FIFTH STREET N.E. (as dedicated), said curve has a radius of248.53 feet, a central angle
of 30 degrees 39 minutes 42 seconds and a chord that bears North 18 degrees 28 minutes 12 seconds West
and described line there terminating.
Parcel 5:
Intentionally Deleted