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HomeMy WebLinkAboutContract 2011 2354A CONTRACT FOR SEWER AVAILABILITY CHARGE TIME PAYMENT AGREEMNT- 4040 CENTRAL AVENUE This Agreement, made on or as of the 25 day of January, 2011. by and between the City of Columbia Heights (the "City ") and James A. Wetch Jr. ( "Wetch" and "Owner "), the latter owner of Breaktime Billiards Inc. dba Jimmy's Pool Hall located at 4040 Central Ave., Columbia Heights, Minnesota. This Agreement is being entered into by the City based on the authority granted by City Council Resolution - 2011 -03. The overall purpose of this Agreement is to detail the sewer availability charge (SAC) payments, totaling $26, 760.00, based on 12 SAC units at $2,230, owed to the City by Wetch. The SAC unit determination was made by the Metropolitan Council based on recent improvements at the subject address and is detailed in the attached letter dated January 11, 2011. It is understood that the City has initially satisfied the Metropolitan Council's requirements for the SAC payments and that Wetch will reimburse the City for the total $26,760.00, including 2% interest, over a two -year time period. The conditions for these payments are as follows: 1) The principal amount owned to the City by Owner is $26, 760.00. 2) Upon entering into this Agreement Owner will pay the City 10% ($2,676.00) of the original principal, creating a new principal balance of $24,084.00. 3) The City requires 2% simple interest on the outstanding principal balance, with all interest deferred until final payment. 4) The principal will be substantially paid off over a two -year time period (24 payments) with monthly payments of $1,000.00. 5) initial monthly payment will be March of 2011 ( Payment 1). 6) Monthly payments are due to the City by the 10 of each month. 7) Owner shall have until the 10` of the following month to make any delinquent payments, in addition to the current monthly payment due. Any delinquency shall give the City the option to initiate the assessment remedy as detailed in this Agreement. 8) Owner will make a final payment (Payment 25) that will include any remaining principal amount in addition to interest as stated in item #3. Security To ensure that the entirety of the principal is paid, the City retains the right to commence and place a special assessment against the subject property, as a local improvement as defined in MSA Chapter 429.021. The placement of a special assessment shall be the City's remedy for non- payment, as described within this Agreement. The time duration of the assessment is at the sole discretion of the Council. As a condition of this Agreement, Owner shall enter into an "Agreement of Assessment and Waiver of Irregularity and Appeal," as attached and dated January 25, 2011. 7 The City of Columbia I-1 ohts z , 71 .,-// Signed: i,„ 4/ 11 / - i r ti it 6 Signed: --' e; - - 3 //,,. , 1 i 12' City Manager ) r‘ I Signed ,,,,.. . — ) i ' V ti 4 O ' Mayor ' As Witnessed by: STATE OF MINNESOTA COUNTY OF ANOKA The foregoing instrument was acknowledged before me this ,), .5 day 2011. , ..1'04 PAIRICIAM. MOSCOW/ _,-- i LLAAA_e„..,— ,..—A--,,,,,..,-, .."?zill.4 r , ,t . '.• otary Public : COW _ 7 r*T:Zi" Cow Ex*601-31-2015 Term Expiring: 1 3 Agreement of Assessment and Waiver of Irregularity and Appeal THIS AGREEMENT, is made this 25 day of January, 2011, between the City of Columbia Heights, State of Minnesota, hereafter referred to as the City, and James A. Wetch, Jr., sole owner of property at 4040 Central Ave NE (herein referred to as Owner). Property is commonly referred to as Breaktime Billiards Inc. dba Jimmy's Pool Hall. In consideration of the action of the City Council, at the owner's request, has caused the City to pay immediately the Metropolitan Council $26,760 for payment of sewer availability charges. In turn, the Owner will reimburse the City for the entire aforementioned payment amount over a two-year time period. Authorization by the City to enter into this arrangement has been established by City Council Resolution-2011- and by an Agreement, dated January 25, 2011, entitled, "Contract for Sewer Availability Charge Time Payment Agreement- 4040 Central Avenue". The security for non-payment of the aforementioned Agreement is the ability of the City to specially assess the property as a local improvement, as defined in MSA 429.021. Owner herby agrees to pay any future assessment, as established by the City Council, as reimbursement for any principle and/or interest not paid pursuant to the January 25, 2011 Agreement. Owner expressly waives objection to any irregularity with regard to the said improvement assessments and any claim that the amount thereof levied against owner's property is excessive, together with all rights to appeal in the courts. In testimony, whereof, James A. Wetch, Jr, has hereunto set his hand, the day and year first above written. Signed: kit'4,4 A Date: 1" J4ies Wetch STATE OF MINNESOTA COUNTY OF ANOKA The foregoing instrument was acknowledged before me this day offfo 2011. Y voimascovia otary Public 11164;. NOTAIMIC-MMESOIA - 44 tam caw . 13w , ..v B(09101-31-2015 Term Expiring: 3/- 0//1"