2023-07-27 - Laserfiche WebLink

5 • The Richards will convey flowage easement interests in OINs 818X, 1915, 1916, 1917, 1943, and 1945 to the District. • The District will convey to the Richards fee simple ownership of OINs 820, 1116, 844, 26, 23, 24, 25, 1084, 1085, 1100Y, 1101, 1102Y, 1103, and 1104 all as defined by survey, and all subject to the exception and reservation of flowage easement interests and temporary construction easement interests in favor of the District, also as defined by survey. The parties agree and recognize exchange parcels the District will convey to the Richards may also be subject to and conditioned upon the release or waiver of Right of First Offers options held by prior owners. • In the event the Right of First Offers are not released or this comprehensive settlement does not occur, the exchange of fee simple ownership of OIN 818N1 and 818N2 for fee simple ownership of OIN 816Y1 and OIN 817Y1 with all land being valued at $18,000 per acre will occur no later than December 31, 2023. • The Richards will accept fee ownership of all parcels subject to existing farmland leases; the Richards will become the landlords/lessors under those leases and will be entitled to all rental payments received and/or due or owed under each lease for 2023 and beyond. • The Richards will lease OIN 1916, including homestead improvements and structures, and 6.19 acres of OIN 818, including improvements and structures, to the District for $500 per month until 30 days’ written termination notice from the Richards or until December 30, 2024, whichever occurs sooner. Prior to terminating the aforementioned leaseback for OIN 818 and vacating the property, the Richards may remove and relocate to their new site their electrical shed (approx. 8’ X 12’) that houses the control system for the grain dryer. • The District’s demolition on OINs 818X and 820 will require the District’s contractor to leave existing gravel in place to accommodate the Richards’ use of the area to park their farm equipment. • The parties will cooperate in good faith to develop a mutually acceptable drainage plan regarding OIN 818X that will not interfere with the District’s use of the property. • The District will reimburse eligible business re-establishment expenses in accordance with the Uniform Relocation Act up to $50,000; the District will reimburse the Richards for reasonable relocation costs and expenses in accordance with the Uniform Relocation Act; and the District will be responsible for ensuring utility relocation to accommodate the Richards’ use of 816Y1 consistent with utility usage at the current site. • The District will pay the Richards $675,000 upon closing of the real estate transactions contemplated under the parties’ settlement agreement as just compensation. • The District will pay the Richards $1,192,326 as just compensation for the contributory value of the non-residential improvements on their existing property. • The District approves a RIMP loan for the Richards in the amount of $1,025,140. • The District will reimburse the Richards for reasonable attorneys’ fees, engineering fees, appraisal costs, and other costs incurred related to the real estate transactions contemplated under the parties’ settlement, not to exceed $110,000.