B. If the Ground Lease/Easement contains use restrictions, Yes do the use restrictions only apply as long as the Public No Entity is the Lessee/Grantee under the Ground N/A Lease/Easement, and such use restrictions will terminate and not apply to any successor lessee/grantee who purchases the Public Entity’s interest in the Ground Lease/Easement? NOTE: Provisions that restrict any material changes to the physical characteristics of the Facility are acceptable and are not deemed to be a prohibited use restriction. * If the Ground contains use restrictions, section or paragraph numbers in Ground Lease/Easement that satisfy this requirement: ________________ XI. TRANSFER OF INTEREST Does the Ground Lease/Easement allow for a transfer thereof in the event Yes that the Lessee/Grantee makes the necessary determination to sell its No interest therein, and allow such interest to be transferred to the purchaser of such interest? * Section or paragraph numbers in Ground Lease/Easement that satisfy this requirement: ____________________ XII. ACKNOWLEDGEMENT OF GO GRANT AGREEMENT Does the Ground contain a provision acknowledging the Yes existence of the GO Grant Agreement and stating that the terms, conditions No and provisions of the GO Grant Agreement control over any inconsistent provisions in the Ground Lease/Easement? * Section or paragraph numbers in Ground that satisfy this requirement: _______________________ SUMMARY Have all of the following questions contained herein been answered Yes “Yes”? (If the answer to this question is then the Ground Lease/Easement is No “No” not acceptable in its submitted form. Please note that even if all of the following questions are answered there still may be provisions “Yes”, contained in the submitted Ground Lease/Easement that may make it unacceptable to the Commissioner.)
B. If the Ground Lease/Easement contains use restrictions, do the use restrictions only apply as long as the Public Entity is the Lessee/Grantee under the Ground Lease/Easement, and such use restrictions will terminate and not apply to any successor lessee/grantee who purchases the Public Entity’s interest in the Ground Lease/Easement? NOTE: Provisions that restrict any material changes to the physical characteristics of the Facility are acceptable and are not deemed to be a prohibited use restriction. * If the Ground contains use restrictions, section or paragraph numbers in Ground Lease/Easement that satisfy this requirement: ________________ Yes No N/A XI. TRANSFER OF INTEREST Does the Ground Lease/Easement allow for a transfer thereof in the event that the Lessee/Grantee makes the necessary determination to sell its interest therein, and allow such interest to be transferred to the purchaser of such interest? * Section or paragraph numbers in Ground Lease/Easement that satisfy this requirement: ____________________ Yes No XII. ACKNOWLEDGEMENT OF GO GRANT AGREEMENT Does the Ground contain a provision acknowledging the existence of the GO Grant Agreement and stating that the terms, conditions and provisions of the GO Grant Agreement control over any inconsistent provisions in the Ground Lease/Easement? * Section or paragraph numbers in Ground that satisfy this requirement: _______________________ Yes No SUMMARY Have all of the following questions contained herein been answered “Yes”? (If the answer to this question is “No” then the Ground Lease/Easement is not acceptable in its submitted form. Please note that even if all of the following questions are answered “Yes”, there still may be provisions contained in the submitted Ground Lease/Easement that may make it unacceptable to the Commissioner.) Yes No
State-of-Minnesota-Post-Issuance-compliance-procedures-June2012-Revised-2_tcm1059-129646.docx