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[DRAFTI <br /> <br />CITY OF RAMSEY <br /> <br />MASTER DEVELOPMENT AGREEMENT <br /> <br />FOR RAMSEY TOWN CENTER <br /> <br /> THIS MASTER DEVELOPMENT AGREEMENT (the "Master Agreement"), is made, <br />entered into and effective as of the __ day of ,2003, by and between the <br />CITY OF RAMSEY. a Minnesota municipal corporation (the "City") and RAMSEY TOWN <br />CENTER LLC, a Mirmesota limited tiabiliW company (the "Developer"). Subject to the terms <br />and conditions of this Master A~eement, and in reliance upon the representations, warranties <br />and covenants of the parties herein contained, the City and the Developer hereby agree as <br />follows: <br /> <br /> ARTICLE 1 <br />RECITALS AND GUIDING PRINCIPLES <br /> <br /> 1.1 The City and the Developer have entered into a Memorandum of Understanding <br />dated March 27,_A~r~ril 11, 2003 providing preliminary guidelines for the creation and execution <br />of this Master A~eement. This Master A~eement supersedes the Memo/~andum of <br />Understanding. The City and the Developer a~ee that the Memorandum of Understanding is <br />hereby terminated and shall have no further force or effect.. <br /> <br /> 1.2 The City has created the Town Center District under the Zoning Ordinance and <br />the City will create a Town Center Review Board, as contemplated in the Zoning Ordinance. <br />The City a~ees to appoint the members of the Town Center Review Board within g4)90 days <br />after the date hereof. <br /> <br /> 1.3 The City has detem-tined that the Developer's Master Development Plan is <br />consistent with the City's Comprehensive Plan and with the RTC Ordinance, ~-~' *~-~ r, ..... ;~ <br />~e ........................ ~ ............ on A ..... 12 ...... <br /> <br /> 1.4 T~%On August 12, 2003, the Council approved the Developer's Prelirninary Plat <br />for the Subject Property,,,:^~ · ^~s~,o~ ....... 12., 200S.subject. to the conditions subsequent set forth in <br />the resolution_ .a__p_provin_g the Preliminary Plat. The Developer ~ntc, nd; tomus~t submit the <br />proposed Master Final Plat to the Council within 30 days after the date of this Master <br />Am'cement. and. --~ <br /> ~ ,, , F ....... s '~-) -~'~, ...... ,=must record the Master Final Plat by October > 1, 2003. <br /> <br /> l .5 The City and the Developer intend that the Subject Property will be developed <br />and used as the RTC Project in accordance with the RTC Controls. <br /> <br /> 1.6 The City and the Developer a~ee that the Developer may seek to create <br />Development through the use of one or more Secondary Developers; and that Secondar3, <br />Developers may increase the. benefits to the City through increased Development. <br /> <br />1555730.red <br />V8 tp V6; <br />8/29/03 <br /> <br /> <br />