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No. 57 & lying northerly of centerline of 153'a Avenue NW except road, subject <br />to easement of record. <br /> <br />- or upon recording- <br /> <br />Lots 1-13, Block 1, Outlots A and B, Anoka. County, Minnesota. <br /> <br />(the "Subject Property"); and <br /> <br /> WHEREAS, on November 12, 2002, pursuant to Resolution No. 02-11 ~ , the CITY <br />approved the final plat of the Subject Property which plat is known as VILLAS OF MEADOW <br />POIiNT (the "Plat"), which approval is contingent on certain requirements, including the <br />DEVELOPER and the CITY entering into this Agreement; and <br /> <br /> WHEREAS, the final plat for the Subject Property conforms to the preliminary plat for <br />Evergreen Point was approved by the CITY on October 22, 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 to <br />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 /> WHEREAS, no expenditure of CITY funds will be made until the relevant City Code <br />escrow requirements have been completed by the DEVELOPER. <br /> <br />NOW, THEREFORE, the CITY and. DEVELOPER agree as follows: <br /> <br /> SECTION I <br />STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />City Code Compliance. The CITY approves the Plat conditioned on the <br />DEVELOPER developing the Plat in accordance with the appliCable provisions of City <br />Code, Section 9.50, entitled Subdivision. <br /> <br />Conformance with Plan. The Plat shall be developed pursuant to the final plat plan <br />consisting of three (3) sheets of the Final Plat dated June 14, 2002; nine (9) sheets entitled <br />Villas of Meadow Point -Phase 1 construction plans last revised November 11, 2002, and <br />specifications book dated September 1.9, 2002, all prepared by Hakanson Anderson <br />Associates Inc. <br /> <br />Villas of Meadow Pointe Townhomes Subdivision <br />Development Agreement <br /> Page 2 of 12 <br /> <br />-237- <br /> <br /> <br />