HomeMy WebLinkAboutCity Council Resolution 1993-150CITY OF PLYMOUTH
RESOLUTION NO. 93- 150
RESOLUTION TO CANCEL OPTION
WEEREAS, the City of Plymouth has acquired title to the real
estate Located in the City of Plymouth described as follows:
1;atpart of the west 491.92 feet of the South 1/2 of the
::crthwest 1/4 of the Northwest 1/4 of Section 21, Township
11ENorth, Range 22 west of the 5th Principal Meridian lying
Ncrtheily of the Northeasterly line of State Highway No. 55
as acquired under Final Certificate filed as Document No.
2871705, in Hennepin County, Minnesota; and
WHEREAS, said real estate was acquired by the City from
W. J. Cavanaugh and Jeannine E. Cavanaugh through an eminent
domain proceeding in Hennepin County District Court Case No.
Cu -2215; and
WHEREAS, pursuant to a Stipulation in said proceeding the
City and the Cavanaughs entered into an Option Agreement dated as
of July 1, 1991 for the repurchase of the property by the
Cavanaughs from the City; and
WHEREAS, the Cavanaughs exercised the option by written
notice to the City on Februrary 22, 1993, and the time for
payment of the repurchase price by the Cavanaughs to the City
pursuant to the option was March 9, 1993, but no such payment has
been received by the City and the Cavanaughs are in default under
the exercised option; and
WHEREAS, Minnesota Statutes, Section 559.21, subd. 4,
Provides that after default exercised options may be terminated
or. ?C days notice pursuant to the statute.
NOW THERFFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF PLYMOUTH, that the City Attorney be directed to cancel
s,=s:d exercised option by 30 days notice as provided in Minnesota
Stat::tes, Secticn 559.21, subd. 4.
Adopted by City Council on March 15, 1993
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