Recorded 1st amendment EDA Roers Harlow001Document Number: A781279
Filed and/or Recorded on
)an 2, 2025 4107 PM
Office of the County Recorder/Registrar of Titles
Carver County, Minnesota
Kaaren Lewis, County Recorder
Deputy TH
Document Recording Fees $ 46.00
DocumentTotat $ 46.00
Requesting Party: Guaranty Commercial Tltle Inc
Pages:8
This cover page has been added to this document by Carver County Land Records
and is no\,y an olficial part of this recorded document
FI RST' ANTI]NI)]\,I I'NT'I'o
(.()N.TRA('T F()It I'RI vA'II' I)EvI'I-OP]\I IlNT
I}Y AND I}T]T\\'EEN
1'HE (.I{ANHASSIiN Ii('ONOMIC I)ti\/EI,()PMEN'I' ATITHoRITY
ANI)
I{OERS C'HAN HASSEN HARI,O\\' A PA IIT]II ENTS OWN ER LI,('
'l'his Document Was Dralied Br :
KENNIIDY & C}RAVIIN, CHARTERED (zu{B)
I 50 South Fifth Street
Suile 700
Minneapolis, MN 55402
(612) 337-9300
Return to:
Guaranty Commercial Tille. lnc.
465 Nicolet Malt, suite 230
Minnoapolis, MN 5540l
q( I I 115-()i-(,o l()t)l.l ,"1
FIIIST A]\I ENI)]!II'NI' TO ('ON'I'I{A("I' FOII PITIVATE I)EVIiLOPMENT
This First Amendmenl to
made as ol the 20 Ytu: ol
(onlracl liry Prirate I)erelopnrcnl (lhe "First Amentlmenl"). rs
D&clnb0f . 202.1. henrccn lhc ( hanhassen lrconornit'
Der,elopment Authoritl', a public bodl corporate and politic under the la*'s of Minnesota, having
its prinoipal offi ce at 7700 Markel Boulevard, Chanhassen, Minnesota 553 I 7 (the "EDA"), and
Roers Clhanhassen I-larlou' Apartments Ouner LLC, a lirnited liabiliq'companl'under the lau's of
Delarvare. having its principal olflces at 'frvo Carlson Parkrval'North, Suite 400, Plvmouth.
Minnesota 554;17 (the "Developer").
Witnesseth:
WTIIIREAS. on March 11.2024, the IIDA modified the redevelopment plan (the
"ll.edevelopment Plan") lor the Dou.ntorvn Clhanhassen Redevelopnrent Pro.iect Area.
pursuant to Minnesota Statutcs, sections 469.001 through 469.047 and approved a tax
increnrenl financing plan (the "TIF Plan") for Tar Increment F'inancing District No. 11. a
rcne'wal and renovation districl (the "TIF District"), pursuanl lo Minnesola Statutes. sections
169.174 to 469. I 79: and
WIIEREA S, on March 11. 2021. the cil) of'Chanhassen (the "('ib"') held a public
hearing and approved the nrodified Redevelopnrcnt I)lan and adoptecl the -flF Plan: and
WI{IIREAS, on June 24,2024. the EDA approved a Contracl for Privale Developmenl
s,ith the Der.eloper for the development of a mixed use residential and commercial pro.iecl:
and
WHEREAS, the EDA and the Developer desire ltl amend the Contract lbr Private
Development.
NOW, TIIEREFORE, in consideration of the foregoing premises and the mutual
obligations set forth in this First Amendment, the EDA and the Developer hereby agree as follorvs:
l. In this First Amendment, unless otheruise noted, underline and strike-through lext
shall he used to indicate amendments to the Contract fcrr Private Development. Underline texl
shall indicate nerv language. and s{d*e.threughtext shall indicate removed language.
2. Seclion I.l Definitions of the Conlract for Private Delelopment is amended as
follolvs:
"Citl Approvals" means, collectively, the Development Contract, the Site Plan Agreement
and an1' olher land use approvals required b1' the Citl prior to construction the Minimum
Improvements.
"De|elopment (bntract" means lhe Chanhasscn Market Street Addition Development
C'ontract dated Julr 22. 2024 belueen the Citl,and the Dereloper and the deleloper ol'the Second
Iluilding rvhich entitles the Minimum Improvements and the Second Building.
('ll I l5-65-964908.!2
"Site l)lan ,,\grccnlcrlt" nrc ans Sitc l)lun ,\cmenr 202-+-02 betseen the Citr and thc
l)cr clotrcr rcsirrd ing thc Minimum lmpror emcnts
3. Sections 7.1(b) and (c) o1'the Conlract fbr Private Delelopment are amended as
lirllori s
(b) NolT vithstanding an)'thing in this Agreerlent to the conlran. Devc'lopr'r is
authorizcd. rvithout tlre approval oi trDA. to obtain conslruction and pennancnt linancing for
thc Minintunr lmprovcntcnts and lo rrrortgage the Dcvelopnrenl Propertl to prot'ide secttritl
lirr lhe construclion and pL'rmiurent lirrancing. and thc EDA is aulhorized to subordinate this
Agreemcnt t() such mortgage. In thc event olfbreclosure. deed-in-lieu of lilreclosure or other
transl'er ol' tlrc Mininrurn Impr()\,enlents or thc l)eT cloprnenl Property as a rcsttlt ol'dc-latrlt
undcr such ntorlgage ( collectivclr . a "Mortgirge 'l ransler" )- such lrans fcr shall retluirc thc priol
tvrittcn appnx,al of thc EI)A. rrhich shall not be unreasonabll withheld. As a condition ol'
appror al ol anl strch +r*nsfier Morteaqc Translcr. the El)A shall require. at a ntininrunt. tltat
the proposed transltree shall have entercd into an agreen'lent rT herebl' lhe lransl'erc-c
crprcsslr assunres all ol the Developcr's obligations under this n greemcnt. Developcr has
secured llnancins tiorrr lltc rnort saue lender whr)se nlort[ase lien is filed on the Deve Iot.rnrcrrl
Pronerlr' ("Morlqaee 1-er") and noltvitlisland in s anvthins in this AsrcelDcnt t() thccntl
conlran'. thc EDA here br DDrovcs ol' anv Mortqaae 'l'rans l'er to Mort c Lcndcr and, orltll
its strcccssors artd as sisns. so long as such transl'eree exrrres slv assumes all of thc
I)crclopcr's ol:rligatiorts ttttdcr tlris A ureelnent. ln addilion. arrt tra nsferee ol' a Mortuauc
I'rartsler is t)c rrnitted to translcr thc N,lininrurrr lm l)rove ments t() an sr.lcccssor transl'eree
rvilhoul the approval ol'the EDA p rovided that the transferor has siven the l:DA 30 davs'
;rriol stittc:r n olice. and such successor transl'erce has tlrc linancial u hercu ithal to con)l)lclc
tlrc N4irrirrrrrnr lrntrrot erttct'tts and has expre'sslY assunred all of thc DcveloDer's
approval ol'the EDA hut n'ith 30 dal s prior urittcn nolice to the EDA, sell or lransfer all or anl
portion of the Minimum lrnpro, ements or the Der elopl)1ent Propert) to anothcr parl) cxcept
thal
1. Section 8.1(d) ol-the ('ontracl lirr Private Dc\elopment is amended as ftrllous:
(d) lfthere is an Event olDelault h1'the Developer regarding an1' requiremenl undcr
the' Der elopmenl Contracl or the Site Plan Aereement of the Developer or related to the
Der elopment Proper11 .
5. Except as amended in this First Amendment, all ol-thc provisions, covenants. terms
and conditions o1'lhe Contracl lbr Prir,ale Development shall remain unaltered and in full lorcc
and ef-fect.
oblis irl ir rn s rrrrd,.'r lltis Atrccrttcltt.
(c) Afier a ('ertiflcate ol'('orrpletion has been issued. Developer,-4nd-!n)--r-u!!-9!&I
os ncr ol' lhc N4inimurn lrn ro\,emenls and/or lhe Devclo I)nrent Pro narl nrar'. u ithout thel)
( H I -15-f'5-9{r,1e013. r l
6. Ihis F-irsl Amendment ma) be executed in anv number of counterparts. All such
oounterparts will be deemed to he originals and will together constitule but one and lhe same
instrumenl.
[The remainder olthis page is intentionallr leli blank.]
( I I | -]-s-65-96{901{ v2
lN WITNESS \ IHERtrOI". the parties hcrclo hai e caused this lrirst Amentinrent to be
executcJ ls trf thc datc lirst uh()\\i \\riltcn.
THE CI IANHASSEN ECONOMIC
DEVEI,OPMENT AUTHoRITY
Ill
. Its sidcnt
lll WvttS4LW*M1/n
. Its Executive Director
S.l AlI: ()F N4lNNlrSO'l A
('otrNIYoF Cwvt,n
lbregoing inslrument s as acknorlletiged belirre me on this 2L dat ot'
)
)
)
SS
1'he'Iwv^. 202-1. br e
O-.t,0p.""f,euthoril),. a puhlic bod \ corl()Illte and politic under the laws ol Minnesota, on
behalf ol the Authority.
IN WITNESS WHEREOF, I have se1 my hand and my olficial seal this pday of-Tr,u[.u ,2024.
JENNIFER ANN POTTEH
Notary Public'Minno
commlsdon ErPn ! $n 31. 2027
. the President ollhe ('hanhassen Economic
oton I)u b lic
ST,{TE OIi MINNI]SOTA
SS
The foregoing instrument u,as acknou'ledged before me on this 12 day ttl
b1' k, ura'r" kl.n L- kza^rl- the Executive Direclor of the Chanhassen
uthoritl, a public bod1, corporate and politic under the larvs of
JENNIFEB ANN
Notary Public'Minnesota
My Commhaloi ExPlor Jrn 31, 2027
1t,i.l- ,2024,
lr*r*r,n,cltrtelopnlent n
Minnesota. on behall' ol' the Authoritr
IN WITNE,SS WHEREOF, I have set my hand and my official seal this 'P--da1 of
4l/,u-. ,2024.
( II1.15-()5-(r(){e0t( t2
s-l
tirrl I)ublic
( ()l rNIY til: e>-,vuttw
/-=-
)
)
)
I
ROERS CHANHASSEN }IARLOW
APARTMENT OWNERLLC
By
Tom Cronin, Authorized Signatory
)
)
)
SS
The foregoing instrument was acknowledged before ." on tl.i, flflduy "t Drcmb<y ,
2024, by Tom cronin, the Authorized signatory ofRoers chanhassen Harlow Apirtment owner
LLC, a Delaware limited liability company, on behalf of the compa.ay.
couNrY oF [t,nnP,Pln
IN WITNESS
oprrnb+,, , zoz+.
WHEREOF, I have set my hand and my official seal this f,fl day of
Notary c
OLIVIA PROPP
iroTARY PUSL|C - [{i{ES0TA
liy Co.mt$m EAiGs &rt 31.2@S
CH I35-65-964908.v2
s-2
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STATEOF MiNNPSO}A
EXHIBIT A
The property subject to the foregoing First Amendment to Contract for Private
Development is as fo[[ows:
Lot l, Block 2, Chanhassen Market Street Addition, Carver County, Minnesota.
Error! Unknown document property name.
A-1