13-1162r HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION NO. 1162
RESOLUTION CONSENTING TO EASEMENTS FOR THE BENEFIT OF LYNDALE
GARDENS LLC AND LAKEWINDS NATURAL FOODS COOPERATIVE
WHEREAS, on May 22, 2012, Lyndale Gardens LLC, a Minnesota limited liability
company (the "Developer"), as mortgagor, executed and delivered a Mortgage (the "Mortgage")
to the Housing and Redevelopment Authority in and for the City of Richfield, Minnesota (the
"Authority"), as mortgagee, to establish a lien against certain real property located at 6330
Lyndale Avenue South (the "Mortgaged Property"); and
WHEREAS, the Mortgage secures the Developer's obligation under the Funding
Agreement, dated November 7, 2011, as amended by the First Amendment to Funding
Agreement, dated April 13, 2013, to repay a forgivable loan provided by the Authority to the
Developer in the amount of$315,000, the proceeds of which were used to finance the costs of
redeveloping the Lyndale Garden Center site, located at 6430 - 6400 Lyndale Avenue South (the
"Development Property") in the City if Richfield; and
WHEREAS, to facilitate redevelopment of the Development Property, the Developer
platted the Development Property and sold a portion thereof (the "Lakewinds Parcel") to
Lakewinds Natural Foods Cooperative, a Minnesota cooperative ("Lakewinds"), for the
development of a cooperative grocery store; and
WHEREAS, prior to platting, the Authority had a first priority mortgage on the
Mortgaged Property; however, upon platting, the Mortgaged Property comprised portions of two
platted lots; and
WHEREAS, the Authority released its mortgage on the Mortgaged Property and
accepted a first priority mortgage on another lot within platted Development Property; and
WHEREAS, on July 29, 2013, the Board of the Authority approved the execution and
delivery by the Authority of a First Mortgage Modification and Partial Release (the "First Mortgage
Modification") which modified the Mortgaged Property description; and
WHEREAS, there has been presented before the Board of the Authority a Reciprocal
Easement Agreement with Covenants, Conditions and Restrictions (the "Reciprocal Easement")
between Lakewinds and the Developer, which described various easements dedicated by the plat
over and across a portion of the Development Property and the Lakewinds Parcel and also sets out
the rights and duties for maintenance obligations for the easement areas; and
WHEREAS, there has been presented before the Board of the Authority a Driveway
Easement Agreement (the "Driveway Easement") between Lakewinds and the Developer, which
grants the Developer, for the benefit of the Mortgaged Property, a perpetual non-exclusive
appurtenant easement for pedestrian and vehicular ingress and egress over and across a portion of
the Lakewinds Parcel, as identified in the Driveway Easement; and
WHEREAS, the Developer has requested that the Authority, as a holder of the Mortgage,
as modified by the First Mortgage Modification, consent to the Reciprocal Easement and the
Driveway Easement and to that end has presented to the Board of the Authority a Consent to
Reciprocal Easement Agreement (the "Consent to Reciprocal Easement") and a Consent to
Driveway Easement Agreement(the"Consent to Driveway Easement"); and
WHEREAS, the Authority has reviewed the Consent to Reciprocal Easement and the
Consent to Driveway Easement and finds that the execution thereof by the Authority and
performance of the Authority's obligations thereunder are in the best interest of the City and its
residents and the redevelopment of the Lyndale Garden site; and
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota as follows:
1. The Consent to Reciprocal Easement and the Consent to Driveway Easement
presented to the Authority and on file with the Community Development Director are hereby in all
respects approved, subject to modifications that do not alter the substance of the transaction and that
are approved by the Chairperson and Executive Director; provided that execution of such
documents by such officials shall be conclusive evidence of approval.
2. The Chairperson and Executive Director are hereby authorized to execute the
Consent to Reciprocal Easement and the Consent to Driveway Easement on behalf of the Authority
and to carry out on behalf of the Authority the Authority's obligations thereunder.
Adopted by the Housing and Redevelopment Authority in and for the City of Richfield,
Minnesota this 19th day of August, 2013.
>41/ 04444-e— t,/ .1(i
S nne M. Sandahl, Chair
A TEST:
/4" / A • .0. OF:
iris Ruben 'in, Secretary
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