Resolution 40-04 Reserving Rec Land

BE IT RESOLVED BY THE CITY COUNCIL OF MOUNTAIN IRON, MINNESOTA, as follows:

1. This Resolution is made with respect to the following real property owned by the City of Mountain Iron, a statutory city and municipal corporation under the laws of the State of Minnesota, to-wit:

The North 550 feet of the East One-half of Northwest Quarter of Southeast Quarter (E1/2 of NW1/4 of SE1/4), Section Fifteen (15), Township Fifty-eight (58) North, Range Eighteen (18) West of the Fourth Principal Meridian, according to the United States Government Survey thereof EXCEPT that part thereof platted as SOUTHERN ADDITION TO MOUNTAIN IRON and EXCEPT all iron ore and any and all other minerals within, upon or under said land, and RESERVING unto USX Corporation, its successors and assigns, forever, the rights and privileges to explore for, mine and remove the same; it being the intention of USX Corporation to modify its mineral estate and appurtenant rights and privileges so as to be as herein provided and not as heretofore appearing in the chain of title.

2. The aforesaid real property is subject to Minnesota Department of Natural Resources Outdoor Recreation Grant Program 0R99-055 known as South Grove Park.

In order to comply with the Department of Natural Resources Outdoor Recreation Project Agreement, the City of Mountain Iron does hereby impose the following restrictions on the subject real property:

1. The property shall be permanently managed and maintained for outdoor recreation purposes consistent with the approved Grant Agreement 0R99-055.

2. The City of Mountain Iron shall not at any time convert any portion of the park area to uses other than public outdoor recreation uses specified in the aforesaid Agreement without the prior written approval of the State of Minnesota.

3. This restrictive covenant shall run with the land.

DULY ADOPTED BY THE CITY COUNCIL THIS 20TH DAY OF SEPTEMBER, 2004.