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CITY OF RAMSEY <br />ANOKA COUNTY, MINNESOTA <br />DEVELOPMENT AGREEMENT - ELMCREST SANCTUARY <br />THIS AGREEMENT, made and entered into by and between the CITY OF RAMSEY, <br />a municipal corporation under the laws of the State of Minnesota (the "CITY"), and <br />OAKWOOD LAND DEVELOPMENT, INC. (the "DEVELOPER"), a Minnesota <br />Corporation, whose address is P.O. Box 146, Anoka, MN 55303. <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 />Lot 4, Block 1, Rabbit Run, according to recorded plat thereof, Anoka County, Minnesota. <br />EXCEPT <br />That part of Lot 4, Block 1, said RABBIT RUN which lies easterly and southerly of the <br />following described line; Commencing at the southeast corner of Lot 4, Block 1, RABBIT RUN; <br />thence South 89 degrees 48 minutes 17 seconds West, (assumed bearing) along the south line of <br />said Lot 4, a distance of 135.00 feet to the point of beginning of the line to be described; thence <br />North O1 degrees 11 minutes 07 seconds East, a distance of 88.30 feet; thence northeasterly <br />170.05 feet along a tangential curve, concave to the southeast, having a radius of 260.00 feet and <br />a central curve of 37 degrees 28 minutes 24 seconds; thence 162.16 feet along a reverse curve, <br />concave to the northwest, having a radius of 470.00 feet and a central angle of 19 degrees 46 <br />minutes 07 seconds, to the east line of said lot 4 and said line there terminating. <br />-or upon recording- <br />Lot 1, Block 1 and Outlots A and B, Elmcrest Sanctuary <br />(the "Subject Property"); and <br />WHEREAS, on January 26, 2010, pursuant to Resolution No. 10-01-_, the CITY <br />approved the final plat of the Subject Property, which plat is known as Elmcrest Sanctuary (the <br />"Plat"), which approval is contingent on certain requirements, including the DEVELOPER and <br />the CITY entering into this Agreement; and <br />WHEREAS, the final plat for the Subject Property conforms to the sketch plan; and <br />Elmcrest Sanctuary <br />Development Agreement <br />January 2010 <br />Page 1 of 8 <br />