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4.8 SR 05-02-2022Request for Action To Item Number Ma Tor and CinT Council 4.8 Agenda Section Meeting Date Prepared by Consent May 2, 2022 Zack Carlton, Communityr Development DirectoY Item Description Reviewed by Propert�T ConveyTance: Parking Lot Parcels Cal Portner, Cit�T Administrator Associated `vith Former ActivityT Center Reviewed by Action Requested Adopt, by motion, a resolution approving a corrective deed transferring the cityT's interest in the t�vo parking lots suppoYting the foYmer senioY activityr centeY. Background/Discussion On August 25, 2021, the cityr closed on the sale of the formeY senior activityr center to Egan Properties, LLC to suppoYt development of their pre-school facilityr. The facilityr is unique in that it encompasses thYee separate parcels, and it has come to the cityT's attention that the conveyTance only included the parcel containing the building itself. The remaining two parcels include the parking lot and it had alwayTs been the cityT's intention to include all three parcels in the sale. Staff has been working with Egan Properties since identifying the issue and the attached corrective deed will rectifv the situation. Financial Impact The cityT's share of the closing costs is $376.65. Mission/Policy/Goal Support the growth and development of the community. Attachments ■ Resolution ■ CoYYective Deed The Elk River Vision A 2a�elcolning co�nlnunity 2a�ith T evolutiona� y and spizzted T esou� cefulness, exceptional se�vice, and coln�nunity engagelnent that encou�ages and ins�iz•es pTo�pe�zty. rowEREo ar �I'1 ���� Up�iited.• August 2020 City ver Resolution 22-23 A Resolution Approving a Corrective Deed WHEREAS, the CityT of Elk River ("CityT") approved a Purchase Agreement for the conve�Tance of the property located at 413 Proctor Avenue NW, Elk River, Minnesota ("PropertyT") to Egan Properties, LLC ("Egan") by Resolution No. 21-47 ("Purchase Agreement"); WHEREAS, the closing on the Purchase Agreement occurYed on August 25, 2021, but the deed conveyTed at closing failed to include all parcels recognized as part of 413 Proctor Avenue, NW which provide the parking areas for the PropertyT; WHEREAS, a corYective deed is necessaryr to include the additional paYcels, as provided in E�ibit A attached hereto ("Corrective Deed"); NOW, THEREFORE, BE IT RESOLVED byT the CityT Council of the City of Elk River, Minnesota, as follows: The Mayor, Cit�r Administrator, and City Clerk are hereby authorized to execute and deliver the Corrective Deed and all necessar�T documents and closing costs necessary to Yecord the CoYYective Deed. Passed and adopted this 2nd dayT of MayT, 2022. John J. Dietz, Mayor ATTEST: Tina Allard, City Clerk 221573v1 EXHIBIT A Corrective Deed 221573v1 Form No. 10.1.9 — WARRANTY DEED - Corrective Business Entity to Business Entity eCRV DEED TAX DUE: $ Date FOR VALUABLE CONSIDERATION, The City of Elk River, a Minnesota Municipal Corporation , Grantor, hereby conveys and warrants to Egan Properties LLC, a Minnesota limited liability company, Grantee, real property in Sherburne County, Minnesota, described as follows: See Legal Description attached hereto together with all hereditaments and appurtenances belonging thereto, subject to the following exceptions: conditions, easements, reservations, restrictions and covenants of record, if any. See attached, Exhibit A *This deed is being given to correct that certain Warranty Deed dated August 25, 2021, filed August 26, 2021, as Document No. 926466 which inadvertently omitted two parcels of land now included herein.* Check box if applicable: ❑ The Seller certifies that the seller does not know of any wells on the described real property ❑ A well disclosure certificate accompanies this document OR has been electronically filed. WDC No.: ❑ I am familiar with the property described in this instrument and I certify that the status and number of wells on the described real property have not changed since the last previously filed well disclosure certificate. Affix Deed Tax Stamp Here STATE OF Minnesota COUNTY OF Sherburne The City of Elk River By: John J. Dietz Its: Mayor By: Tina Allard Its: City Clerk ss. The instrument was acknowledged before me on , by John J. Dietz as Mayor and by Tina Allard, as City Clerk of The City of Elk River, a Minnesota Municipal Corporation. NOTARIAL STAMP OR SEAL (OR OTHER TITLE OR RANK): SIGNATURE OF NOTARY PUBLIC OR OTHER OFFICIAL THIS 1NSTRUMENT WAS DRAFTED BY: Home Securiry Abstract & Title Company 564 Dodge Avenue NW Elk River, MN 55330 Check here if part or all of the land is Registered (Torrens) ❑ Tax Statements far the real property described in this instrument should be sent to (include name and address of Grantee): Egan Properties LLC 19376 Carson Circle NW Elk River, MN 55330 File Number: E-12561 Legal Description Lots 1 and 2, Block 2, and the East 50 feet of Lot 3, Block 2, Corrected Plat of Thomas's Addition to the Village of Elk River, according to the plat thereof on file and of record in the office of the County Recorder, Sherburne County, Minnesota. AND The South Half of Lots 11 and 12, Block 2, Corrected Plat of Thomas's Addition to the Village of Elk River, according to the plat thereof on file and of record in the office of the County Recorder, Sherburne County, Minnesota. AND The North Half of Lots 11 and 12, Block 2, Corrected Plat of Thomas's Addition to the Village of Elk River, according to the plat thereof on file and of record in the office of the County Recorder, Sherburne County, Minnesota. Warranty Deed Exhibit "A" Easements for roads, drainage, utilities and wetlands as shown on the recorded plat, if any. Rights of the utility companies to use and maintain the utility lines over, under or across the subject premises as disclosed by an inspection of the property. Subject to the terms and conditions of Order Granting Variance filed June 8, 1994 as Document No. 295765. Subject to the terms and conditions of Order Granting Conditional Use filed September 4, 1998 as Document No. 372032. Subject to the terms and conditions of Conditional Use Permit filed March 16, 2022 as Document No. 939289. Any lease, grant, exception or reservation of minerals or mineral rights appearing in the public records. Any encroachment, encumbrance, violation, variation or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. Any lien or right to a lien, for services, labor or materials heretofore or hereafter furnished, imposed by law and not shown by the public records. Easements or claims of easements not shown by the public records. Rights or claims of parties in possession not shown by public records. Construction Mortgage filed August 26, 2021 as Document No. 926467 Assignment of Rents filed August 26, 2021 as Document No. 926468 Construction Mortgage filed August 26, 2021 as Document No. 926469 and Modification of Mortgage filed March 1, 2022 as Document No. 938452 Assignment of Rents filed August 26, 2021 as Document No. 926470 Mortgage, Security Agreement and Fixture Financing Statement filed August 26, 2021 as Document No. 926471 Exhibit A - continued Assignment of Leases and Rents filed August 26, 2021 as Document No. 926472. Request for Notice filed August 26, 2021 as Document No. 926988.