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3. As a result of said vacation, the fee interest in the following property is vested as <br /> follows: <br /> The easterly 8.00 feet of that part of the 16.00 foot alley as dedicated <br /> in the plat of FIRST ADDITION TO COLE'S PLAT OF PEQUOT, <br /> Crow Wing County, Minnesota, lying Northerly of the easterly <br /> extension of the South line of Lot 9, Block 1, of said plat; <br /> is vested in the name of the City of Pequot Lakes. <br /> The westerly 8.00 feet of that part of the 16.00 foot alley as dedicated <br /> in the plat of FIRST ADDITION TO COLE'S PLAT OF PEQUOT, <br /> Crow Wing County, Minnesota, lying Northerly of the easterly <br /> extension of the South line of Lot 9,Block 1, of said plat; <br /> is vested in the name of CLA Properties, LLC. <br /> 4. The City in its discretion has determined that the vacation will benefit the public <br /> interest because closing the entrance to Main Street and First Street and vacating <br /> the section of First Street would increase public safety on First Street. <br /> 5. Approval by the City of said Petition as described herein and adoption of this <br /> Resolution is expressly conditioned upon and is only effective upon satisfaction <br /> of the following conditions within two years of the date of this Resolution: <br /> a. The intersection of First Street and Main Street shall be closed. <br /> b. Curb, gutter and sidewalk shall be installed to effectuate said closure of <br /> First Street with the cost to be shared equally by the City and CLA <br /> Properties, LLC, its successors and assigns. <br /> c. CLA Properties, LLC, its successors and assigns shall have two years <br /> from October 6, 2009 to apply for and receive a land use permit for the <br /> redevelopment of the existing NFK Grocery Store building and parking <br /> lot. If said land use permit is not issued by the City by October 6, 2011 <br /> this Road Vacation Resolution shall be null and void and said road <br /> vacation described herein shall not be effective. Furthermore said road <br /> vacation approval is likewise not effective until all conditions of approval <br /> described in this Resolution and Resolution No. 09-33 have been met to <br /> the satisfaction of the City. Assuming all conditions of approval have <br /> been met then at that point a Resolution will be recorded and the vacation <br /> will be effective. <br /> BE IT FURTHER RESOLVED,that the Mayor and City Clerk are hereby authorized to <br /> sign all documents necessary to effectuate the intent of this Resolution. <br /> 3 <br />