Agenda - Council - 08/24/2010 - Laserfiche WebLink

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DEVELOPMENT/PURCHASE AGREEMENT ilk This Agreement is made this 02f day of February, 2006 by and between the CITY OF RAMSEY, a Minnesota Municipal Corporation, 15153 Nowthen Boulevard N.W., Ramsey, Minnesota ("CITY") and RIVER'S BEND HOLDINGS, LLC, a Minnesota Limited Liability Company, 19230 Evans Street, Elk River, Minnesota ("R.H."). RECITALS WHEREAS, the CITY is the fee owner of the following described property, to -wit: All that part of Government Lot 3, Section 25 and Government Lot 6, Section 36, all in Township 32, Range 25, Anoka County, Minnesota, described as follows: Commencing at the most northerly corner of Lot 4, Block 1, RIVER'S BEND PLAZA P ADDITION, according to said plat on file and of record in the office of the County Recorder, Anoka County, Minnesota; thence North 67 degrees 21 minutes 17 seconds East, assumed bearing along the easterly extension of the northerly line of said Lot 4, a distance of 66.02 feet to a line 66.00 feet easterly of and parallel with the easterly Line of said Lot 4; thence South 21 degrees 12 minutes 12 seconds East, along said parallel line, a distance of 110.00 feet to the point of beginning of the property to be described; thence continuing South 21 degrees 12 minutes 12 seconds East, along said last described parallel line and its southerly extension, a distance of 434.45 feet; thence Easterly, Southeasterly and Southerly a distance of 102.62 feet, along a non-tangential curve concave to the Southwest having a radius of 60.00 feet, a central angle of 97 degrees 59 minutes 52 seconds and a chord which bears South 56 degrees 27 minutes 57 seconds East; thence North 68 degrees 47 minutes 48 seconds East, not tangent to said last described curve, a distance of 109.32 feet; thence North 25 degrees 22 minutes 35 seconds East a distance of 134.43 feet; thence North 68 degrees 47 minutes 48 seconds East a distance of 126.75 feet; thence North 21 degrees 12 minutes 12 seconds West a distance of 521.01 feet to the intersection with a line distant 66.00 feet southeasterly of and parallel with the Southeasterly line of RIVER'S BEND 2°d ADDITION, according to said plat on file and of record in the office of the County Recorder, Anoka County, Minnesota; thence South 78 degrees 28 minutes 02 seconds West, along said last described parallel line, a distance of 76.27 feet; thence South 67 degrees 21 minutes 17 seconds West, along said last described parallel line, a distance of 200.91 feet; thence South 21 degrees 12 minutes 12 seconds East 110.00 feet; thence South 67 degrees 21 minutes 17 seconds West a distance of 110.00 feet to the point of beginning. (the "City Property"); and