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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 />I <br /> <br /> EVERGREEN POINT <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 ED~NA <br />DEVELOPMNET, INC., a Minnesota corporation, whose address is 700 Industry Ave., <br />Anoka, MN 55303 ("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 Minnesota, and legally described <br />as follows: <br /> <br />The West-half of the Northwest Quarter of Section 24, Township 32, Range, 25, <br />Anoka County, Minnesota lying Westerly to the centefline of State Trunk <br />Highway Number 47 as now laid out and traveled and Northerly of the South <br />413.75 feet of the West-half of the Northwest Quarter of said survey. <br /> <br />or upon recording - <br /> <br />Lots 1-6, Block 1; Lots 1-34, Block 2; Lots 1-18, Block 3; Outlot A; Evergreen Point, <br />Anoka County, Minnesota. <br /> <br />(the "Subject Property"); and <br /> <br /> WHEREAS, on July 23, 2002, pursuant to Resolution No. 02-07-___, the CITY approved <br />the final plat of the Subject Property which plat is known as EVERGREEN POINT (the '"Plat"), <br />which approval is contingent on certain requirements, including the DEVELOPER and the CITY <br />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 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 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 I1 Improvements constructed by the CITY; and <br /> <br />Evergreen Point Subdivision <br />Development Agreement <br />Page 1 of 12 <br /> <br />-99- <br /> <br /> <br />