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-168-
<br />
<br /> RIVER PINES 5TH ADDITION
<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
<br />OAKWOOD LAND DEVELOPMENT, INC., a Minnesota corporation, whose address is
<br />1611 County Highway #10 N.E., Spring Lake Park, Mn 55432 ("DEVELOPER").
<br />
<br />WlTNESSETH:
<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 />Th'at part of the north 516 feet of the Southeast Quarter of the Southeast Quarter of
<br />Section t4, Township 32, Range 25, Anoka County, Minnesota lying westerly of the
<br />centerline of State Trunk Highway No. 47, EXCEPT that part of the said Southeast
<br />Quarter of the Southeast Quarter platted as Apple Ridge, according the recorded plat
<br />thereof, Anoka County, Minnesota.
<br />
<br />- or upon recording -
<br />
<br />Lot 1, Block 1; Lots 1, 2, 3, 4, 5, 6 and 7, Block 2; Lots 1, 2, 3, 4, 5, 6, 7, 8, 9, and 10,
<br />Block 3; RIVER PINES 5TH ADDITION, Anoka County, Minnesota.
<br />
<br />(the "Subject Property"); and
<br />
<br /> WHEREAS, on March I2, 2002, pursuant to Resolution No. 02-03-. , the CITY
<br />approved the final plat of the Subject Property which plat is known as RIVER PINES 5TH
<br />ADDITION (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 />Apple Ridge approved by the CITY on January 22, 2002; and
<br />
<br /> WHEREAS, a trunk usage charge is required by the CITY for usage of its Trunk Sewer
<br />and Watermain System, which charge is $1,814.00 per residential unit created; 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
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