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-184— <br />CITY OF RAMSEY <br />ANOKA COUNTY, MINNESOTA <br />DEVELOPMENT AGREEMENT — KINGS RANCH ESTATES <br />THIS AGREEMENT, made and entered into by and between the CITY OF RAMSEY, <br />a municipal corporation of the State of Minnesota (the CITY "), and NATHAN <br />WATTENHOFER, whose address is 17151 Baugh Street N.W., Ramsey, MN 55303, (the <br />"DEVELOPER "). <br />WITNESSETH: <br />WHEREAS, the DEVELOPER is the fee owner of the following described property <br />situated in the CITY OF RAMSEY, County of Anoka, State of Minnesota, and legally described <br />as follows: <br />That part of the Northwest Quarter of the Northeast Quarter of Section 7, <br />Township 32, Range 25 Anoka County, Minnesota lying southwesterly of <br />southwesterly right of way line of Anoka County Highway right of way Plat No. <br />33 and lying southerly of the southerly line of north half of said Quarter Quarter, <br />except road; subject of easement of record. <br />Or upon recording: <br />Lots 1 and 2, Block 1, Kings Ranch Estates, Anoka County, Minnesota. <br />(the "Subject Property "); and <br />WHEREAS, on May 13, 2008, pursuant to Resolution #08 -05 -_, the CITY approved <br />the final plat of the Subject Property, which plat is known as KINGS RANCH ESTATES (the <br />"Plat ") contingent on certain requirements, including DEVELOPER and CITY entering into <br />this agreement; and <br />WHEREAS, the Plat consists of two (2) lots totaling approximately 10 acres; and; <br />WHEREAS, approval of the Final Plat is given pursuant to the City's Subdivision Code <br />Section 9.50.03 (Minor Plat). <br />WHEREAS, no expenditure of CITY funds will be made until City Code escrow <br />requirements have been fulfilled by the DEVELOPER. <br />Development Agreement: Kings Ranch Estates <br />Page 1 of 6 <br />