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HomeMy WebLinkAbout1978-08-23 Howard Turrentine Ltr to Planner Re St. Croix Mall PUD / Covenants TURRENTINE AND MAGNUSON //'�F L Attorneys -at -Law 14733 60th Street North Stillwater, Minnesota 55082 (612) 439 -9464 David T. Magnuson Howard R. Turrentine August 23, 1978 Mr. David R. Licht Midwest Planning and Research Company 416 East Hennepin Avenue Minneapolis, MN Re: St. Croix Mall PUD/ Covenants Dear Dave: I am enclosing my final draft of the restrictive covenants. As you can tell, I left the legal descriptions out because in talking with Red he indicated that when the hardshell is completed, they will be designated by alphabetical tracts. I purposely left out certain restrictions unique to Financial Property Developers Inc. and the Mall since they should be contained in separate agreement. There is nothing sacred about the covenants and if you have any changes, verifications or additional provisions please feel free to add them. Yos. /nv�er`y truly, ` J �� HOWARD R. TURRENTINE HRT /cn enc. r RESTRICTIVE COVENANTS AND CROSS EASEMENTS FOR ST. CROIX MALL THIS AGREEMENT, entered into this day of , 1978, between Oak Park Development Co., Inc., Swager Bros., Inc. Financial Properties Developers, Inc., St. Croix Bowl, Inc., and Duenow Corporation of Minnesota, for the purposes of providing for the orderly development and expansion operation of the St. Croix Mall. Oak Park Development Co., Inc. is the fee owner of the following described property located in the St. Croix Mall: Swager Bros., Inc. is the fee owner of the following described property located in the St. Croix Mall: St. Croix Bowl, Inc. is the fee owner of the following described property located in the St. Croix Mall: Duenow Corporation of Minnesota is the fee owner of the following described property located in the St. Croix Mall: Financial Properties Developers, Inc. is or will be the fee owner of the following described property located in the St. Croix Mall: All of the parties are engaged in the business of either leasing, developing or operating retail businesses in the St. Croix Mall and have a mutual interest in providing adequate parking for the St. Croix Mall customers, providing for the accessability of utility services, providing for the maintenance, upkeep and repair of the parking areas and common areas, and maintaining as nearly as possible the present aesthetic qualities of the St. Croix Mall. NOW THEREFORE, in consideration of the mutual covenants, conditions and cross easements, it is hereby agreed between the parties as follows: 1. For the purposes of this Agreement, the following terms shall have the following meanings: a. St. Croix Mall: Total land owned by the parties hereto. b. Net Leaseable Square Feet: Total square footage used or leased by the parties for the operation of their, their tenants or subtenants, respective businesses, excluding walls, common areas, and non - public facilities. C. Structures: All buildings, signs, pylons, pedastals, or other similar structures, whether permanent or temporary in nature. d. Utilities: All present or future gas, water, sewer or electric services, including lines, pipes, poles, or other items used to trasmit such services. 2. In order to provide adequate parking for customers of the St. Croix Mall, each of the parties to this Agreement grants and conveys to each other party the right and privilege of a permanent mutual non - exclusive easement for the purposes of ingress and egress and parking, on, over and across cruise lanes, parking areas, and sidewalks in the St. Croix Mall. This easement shall include pedestrian and vehicular traffic and shall be for the benefit of all the parties, their assigns, tenants, invitees, licensees and employees. Each party agrees to provide a minimum of six (6) parking spaces for each One Thousand (1,000) feet of net leaseable -2- area of their respective or leased buildings, or the existing number of parking spaces as of the date of this Agreement. In no event shall no party reduce the number of parking spaces on its tract to less than the existing spaces or six (6) as the case may be. 3. In order to provide adequate access to repair and maintain utility services, each of the parties grants and conveys to each other party a permanent, mutual, non - exclusive easement for the purposes of constructing, operating, maintaining and repairing utilities. This easement is subject, however, to the obligations of the party benefited by the utility easement to repair or replace in kind and in quality, any damage caused by the benefited party to the improvements on or over the land which is crossed by the utility. 4. In order to maintain the existing skyline and profile of the St. Croix Mall, each of the parties agree not to erect any structure in excess of feet above sea level. 5. In order to provide for uniform construction and appearance, the buildings, either existing or to be constructed in the St. Croix Mall, each of the parties agree that they shall develop their respective tracts in a first -class workmanlike manner with all buildings being sprinklered,and thrtany buildings that are expanded next to a wall not owned by the expanding party, will be constructed with a separate wall so that the development will remain separate and distinct. Each of the parties further agree to face their building with a suitable masonry type material and each party hereto agrees to maintain their respective buildings and improvements located upon their respective tracts in a good structural operating condition, and shall maintain their exterior surfaces of their buildings in a state of good repair. 6. In order to insure the prompt and uniform snow removal and grounds keeping of the parking areas and common areas of the -3- St. Croix Mall, each of the parties agree to pay their pro -rata share of all snow removal, grounds keeping, painting, striping and maintenance of the St. Croix Mall parking area, together with walkways and common areas as such costs are assessed by the management committee, as defined in Paragraph 7 below. 7. The enforcement, regulations, direction, administration and management of these covenants, easements, and restrictions, shall be vested in a management committee which shall be comprised of five members; these five members shall be elected by the fee owners who shall have the following number of votes: Duenow Corporation of Minnesota One Vote Oak Park Development Co., Inc. Fifty -one Votes Swager Bros., Inc. Twenty Votes St. Croix Bowl, Inc. Twelve Votes Financial Properties Developers, Inc. Sixteen Votes Each fee owner shall be entitled to nominate five candidates, and the five candidates with the most votes shall be elected without cumulative voting. In computing the pro -rata share of costs as contained in Paragraph 6 above, each party's pro -rata cost shall be in proportion to their votes on the management committee. This committee shall be vested with the power to enforce these covenants at law or in equity, and to contract for the purposes of maintaining and repairing the St. Croix Mall at its sole discretion and to assess all members for their pro -rata cost. 8. This Agreement shall inure to the benefit of and run with the land owned by the parties and shall be enforceable and binding upon the parties to this Agreement, their heirs, successors, assigns, transferees or vendees. It is understood that this Agreement in no way transfers any right, title or interest in the St. Croix Mall to any other parties, but only gives the parties to this Agreement the permanent, mutual and non - exclusive rights to use certain property owned by the other parties for the purposes set forth in this Agreement. -4-