Laserfiche WebLink
TOWN CENTER GARDENS 3RD ADDITION <br />AMENDED AND RESTATED DEVELOPMENT AGREEMENT <br />CITY OF RAMSEY, ANOKA COUNTYa MINNESOTA <br />THIS AGREEMENT, made and entered into by the CITY OF RAMSEY, a Municipal <br />Corporation under the laws of the State of Minnesota (the "CITY"); BRIGHTKEYS <br />DEVELOPMENT CORPORATION, a Minnesota Corporation ("BK");. and 211T <br />CENTURY BANK, a Minnesota Corporation (i421fl99); <br />WITNESSETH: <br />WHEREAS, BK and City are parties to that certain Development Agreement for Town <br />Center Gardens P Addition ("TCG3") dated October 26, 2000 (as to BK) and dated <br />October 28, 2005 (as to City), covering the lots described therein, and <br />WHEREAS, 21" was the former first mortgage lien holder of the properties contained in <br />said subdivision, and has since acquired title to the remaining unsold lots in the <br />subdivision, and II <br />WHEREAS, except as hereafter outlined, the Developer's obligation under the original <br />Development .Agreement have been completed, and <br />WHEREAS, as to obligations remaining incomplete, the parties desire to update and <br />reallocate certain responsibilities, <br />It is therefore agreed as follows: <br />1 Replacement of Development Agreement <br />The Development Agreement described above is hereby replaced with this agreement. <br />2. Release of BK <br />City does hereby release BK of any further obligations to City under the former <br />Development Agreement, or otherwise in connection with the development of TCG3. <br />3 Acceptance of Duties by 21st <br />21" does hereby accept the duties to complete certain activities and to maintain certain <br />improvements as outlined herein. <br />4 Remaining Development Obligations <br />21st shall be responsible to contract for and complete to the satisfaction of the City's <br />engineer the following: <br />—101— <br />