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CITY OF RAMSEY <br />DEVELOPMENT CONTRACT <br />FOR RAMSEY TOWN CENTER 14TH ADDITION <br />This CONTRACT dated this 27~` day of April, 2010, and is by and between the CITY <br />OF RAMSEY, a Minnesota municipal corporation (the "CITY") and PSD, LLC, 7533 <br />Sunwood Drive NW, Ramsey, MN 55303, a Minnesota limited liability company, (the <br />"DEVELOPER"). <br />1. Request for Plat Approval. The DEVELOPER has asked the CITY to approve a <br />Plat for RAMSEY TOWN CENTER 14th ADDITION (also referred to in this Contract as the <br />"Plat"). The land is legally described as: <br />Outlot FF, Ramsey Town Center Addition, subject to easement of record, Anoka County, <br />Minnesota <br />Or upon recording; <br />Lot 1, Block 1, and Outlot A, Ramsey Town Center 14t" Addition <br />(the "Subject Property") <br />3. Conditions of Approval. The CITY hereby approves the Plat on condition that: <br />a. the DEVELOPER enters into this Contract, and <br />b. the DEVELOPER provides the necessary security in accordance with the <br />terms of this Contract. <br />4. Development Plans. The DEVELOPER shall develop the Plat in accordance <br />with the Final Plat Plans prepared by Bolton and Menk dated March 22, 2010. The plans shall <br />not be attached to this Contract, but are in CITY files. <br />5. Sta eg_I Improvements Required. The improvements the CITY requires the <br />DEVELOPER, to construct within the Plat are as follows: <br />a. Trunk and lateral sanitary sewer system <br />b. Trunk and lateral watermains and appurtenances <br />Ramsey Town Center 14th Addition <br />Development Contract <br />Page 1 of 10 Pages <br />