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CITY OF RAMSEY <br />DEVELOPMENT CONTRACT FOR COR ONE <br />This CONTRACT dated this day of June, 2010, and is by and between the CITY OF <br />RAMSEY, a Minnesota municipal corporation (the "CITY "), the CITY OF RAMSEY HOUSING <br />AND REDEVELOPMENT AUTHORITY, 7550 Sunwood Dr NW, Ramsey, MN 55303, a Minnesota <br />, (the "PERMITTEE ") . <br />WHEREAS, the PERMITTEE is the owner of land legally described as follows: <br />Lots 1, 1A, 2, Block 1, RAMSEY TOWN CENTER 5TH ADDITION, Outlot A, RAMSEY <br />TOWN CENTER 5TH ADDITION, and Outlot M, RAMSEY TOWN CENTER ADDITION, <br />except that part platted as RAMSEY TOWN CENTER 5 ADDITION, subject to easement <br />of record. <br />(the "Subject Property "); and <br />WHEREAS, the PERMITTEE has received approval from the CITY to subdivide said OL FF <br />and Plat the same as Ramsey Town Center 14 Addition (the "Plat "). <br />THEREFORE, THE CITY and the PERMITTEE AGREE AS FOLLOWS: <br />1. Conditions of Approval. The CITY hereby approves the Plat on condition that: <br />a. <br />b. <br />The PERMITTEE enter into this Contract, and <br />The PERMITTEE provide the necessary security <br />Contract pursuant to the City Code. <br />2. Development Plans. The PERMITTEE shall develop <br />Plat Plans prepared by Landform dated <br />not be attached to this Contract, but are in CITY files. <br />in accordance with the teens of this <br />the Plat in accordance with the Final <br />2010 (the "Plans "). The Plans shall <br />3. Stage I Improvements Required. The improvements the CITY requires are as follows: <br />a. <br />b. <br />c. <br />d. <br />e. <br />f. <br />g. <br />h. <br />i. <br />J. <br />k. <br />1. <br />m. <br />n. <br />Trunk and lateral sanitary sewer system <br />Trunk and lateral water mains and appurtenances <br />Storm drainage facilities <br />Stormwater maintenance through 90% buildout <br />Lot grading <br />Sidewalks <br />Natural gas line <br />Telephone service <br />Electric service <br />Boulevard sodding <br />Water shut -off valves <br />As -built plans <br />Temporary and permanent erosion control <br />Stage I Financial Maintenance Guarantee <br />( "Stage I Improvements ") <br />