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<br />
<br /> THE PONDS
<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 ROYAL
<br />OAKS REALTY, INC., a Minnesota corporation, whose address is 1000 County Road E West,
<br />Suite 150, Shoreview, MN 55126 ("DEVELOPER").
<br />
<br />WITNESSETH:
<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 5/[innesota, and legally described
<br />as follows:
<br />
<br />PARCEL 1:
<br />
<br />That part of the Northeast quarter of the Southwest quarter of Section 25, Township
<br />32, Range 25, Anoka County, Minnesota, lying Southwesterly of the Southwesterly
<br />right of way line of CSAH #5 and lying Westerly of the Westerly right of way line of
<br />Dysprosium Street, except that part described as follows:
<br />
<br />Commencing at the Southwest comer of said quarter quarter thence North 89
<br />degrees, 51 minutes, 23 seconds East (assumed bearing) along the Southerly line of
<br />said quarter quarter 469.93 feet, thence Northerly 208.74 feet along a non-tangential
<br />curve concave to the West having a radius of 260 feet and a central angle of 46
<br />degrees and the chord of said curve bears North 5 degrees, 12 minutes, 55 seconds
<br />East and is 203.I8 feet in length, thence North 17 degrees, 47 minutes, 5 seconds
<br />West tangent to said Curve 50 feet, thence Northerly 151.47 feet along a tangential
<br />curve concave to the East, having a radius of 340 feet and a central angle of 25
<br />degrees, 31 minutes, 31 seconds to the point of beginning of said tract to be
<br />described. T. hence Northerly 178.48 feet along a continuation of said curve having a
<br />radius of 300 feet and a central angle of 30 degrees, 4 minutes, 38 seconds to its
<br />intersection with the Southerly right of way line of CSAH #5, thence Northwesterly
<br />52.63 feet along said right of way line on a non-tangential spiral offset curve concave
<br />to the Northeast having a chord which bears North 46 degrees, 28 minutes, 58
<br />seconds West and is 52.63 feet in length, thence North 46 degrees, 24 minutes, 34
<br />seconds West along said right of way line and tangent to said curve 147.60 feet,
<br />thence South 43 degrees, 35 minutes, 26 seconds West 200 feet, thence South 46
<br />degrees, 24 minutes, 34 seconds East 214.29 feet, thence South 32 degrees, 15
<br />minutes, 34 seconds East 60 feet to the point of beginning.
<br />
<br />PARCEL 2:
<br />
<br />The Ponds Subdivision
<br />Development Agreement
<br />Page 1 of 13
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