Agenda - Council - 06/25/2002 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I THE PONDS 2''a ADDITION DEVELOPMENT AGREEMENT CITY OF RAMSEY, ANOKA COUNTY, MINNESOTA THIS AGREEMENT, made and entered into by and between the CITY OF RAMSEY, a municipal corporation under the laws of the State of Minnesota (the "CITY"), and ROYAL OAKS REALTY, INC., a Minnesota corporation, whose address is 1000 County Road E West, Suite 150, Shoreview, MN 55126 ("DEVELOPER"). WITNESSETH: WHEREAS, the DEVELOPER is the fee owner of the following described property situated in the CITY OF RAMSEY, County of Anoka, State of Minnesota, and legally described as followsi Outlot B, The Ponds, Anoka County, Minnesota; and Outlot A, Wood Pond Hills 4th Addition, Anoka County, Minnesota; and Outlot B, Wood Pond Hills 4* Addition, Anoka County, Minnesota - or upon recording - Lots 1-7, Block 1 and Outlots A and B, The Ponds 2nd Addition. (the "Subject Property"); and WHEREAS, on June 25, 2002, pursuant to Resolution No. 02- , the CITY approved the final plat of the Subject Property which plat is known as THE PONDS (the "Plat"), which approval is contingent on certain requirements, inclUding the DEVELOPER and the CITY entering into this Agreement; and WHEREAS, the final plat for the Subject Property conforms to the preliminary plat for The Ponds approved by the CITY on February 12, 2002; and WHEREAS, the CITY requires certain improvements to be constructed within the Plat, which improvements are defined as Stage I and Stage II Improvements in the City Code; and WHEREAS, the DEVELOPER intends to cause its required improvements in the Plat to be constructed without financial participation by the CITY. WHEREAS, the DEVELOPER desires to construct the Stage I and Stage improvements, except for those Stage II Improvements constructed by the CITY; and The Ponds 2"a Addition Subdivision Development Agreement Page 1 of 11 -189-