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-270- <br /> <br /> SUNFLOWER RIDGE <br /> DEVELOPMENT AGREEMENT <br />CITY OF RAMSEY, ANOKA COUNTY, MINNESOTA <br /> <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., a Minnesota corporation, whose address is <br />1611 County Highway #10 N.E., Spring Lake Park, Mn 55432 ("DEVELOPER"). <br /> <br />WlTNESSETH: <br /> <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 /> <br />The East Half of the Southeast Quarter of the Northeast Quarter, Section 23, <br />Township 32, Range 25, Anoka County, Minnesota. <br /> <br />- or upon recording - <br /> <br />Lots 1-23, Block 1; Lots 1-25, Btock 2; Outlots A and B; Sunflower Ridge, Anoka <br />County, Minnesota. <br /> <br />(the "Subject Property"); and <br /> <br /> WHEREAS, on June 25, 2002, pursuant to Resolution No. 02-07-174, the CITY <br />approved the final plat of the Subject Property which plat is known as SUNFLOWER RIDGE <br />(the "Plat"), which approval is contingent on certain requirements, including the DEVELOPER <br />and the CITY entering into this Agreement; and <br /> <br /> WHEREAS, on April 10, 2003, the DEVELOPER submiRe'd a proposed revision to the <br />final plat approved on June 25, 2002 that eliminated Lots 1-13 of BIock 3; <br /> <br /> WHEREAS, the revised final plat for the Subject Property conforms to the preliminary <br />plat for Sunflower Ridge was approved by the CITY on May 28, 2002; and <br /> <br /> WHEREAS, the CITY requires certain improvements to be constructed within the Plat, <br />which improvements are defined as Stage I and Stage II Improvements in the City Code; and <br /> <br /> WHEREAS, the DEVELOPER intends to cause its required improvements in the Plat <br />to be constructed without .financial participation by the CITY. <br /> <br /> WHEREAS, the DEVELOPER desires to construct the Stage I and Stage II <br />improvements, except for those Stage II Improvements constructed by the CITY; and <br /> <br />Sunflower Ridge <br />Development Agreement <br />Page 1 of 12 <br /> <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> <br />