1979-1285
RESOLUTION 128.
RESOLUTION APPROVING
TRANSFER OF PROPERTY
SUBJECT TO DEVELOPER°S
AGREEMENT
C]
WHEREAS, The Housing and Redevelopment Authority did on
June 16, 1977, execute and enter into a Contract For Sale of Land
For Private Development between itself and Financial Properties
Developers, Inc., and
47HEREAS, Financial Properties Developers, Inc. has now
notified the Authority of its desire to convey its interest in the
property on which-the development is located, which property is
legally described as:
Lot one (1) , Block one (1) HEYMAN ADDITION
to Lawrence Kadish
WHEREAS, such transfer would be subject to the rights and
remedies of the Authority as contained in the Developer°s Agreement
dated June 16, 19778 and
WHEREAS, such transfer would not create any direct
contractual relationship between the Authority and any third party
NOW THEREFORE, be it resolved by the Housing and Redevelop-
ment Authority of the City of Richfield, Minnesota as follows:
1. The proposed sale of the property above described is
a transfer within the meaning of Section 11.02 (2) of the Developer's
Agreement.
2. As such, and subject to the rights of the authority
contained within such agreement, the proposed sale and transfer is
approved.
Page 2
Passed by the Housing and Redevelopment Authority of
the City of Richfield this 13th day of November, 1979.
ATTEST:
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L. Luettinct~ Secre
1