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-186- <br /> <br /> CITY OF RAMSEY <br /> ANOKA COUNTY, MINNESOTA <br />DEVELOPMENT AGREEMENT- SMITH AI)DITION <br /> <br /> THIS AGREEMENT, made and entered into by and between the CITY OF RAMSEY, <br />a municipal corporation of the State of Minnesota (the CITY"), and DAVID A AND KAREN <br />K, SMITH, husband and wife, whose address is 15401 Armstrong Blvd. N.W. Ramsey, MN <br />55303 (the "DEVELOPERS"). <br /> <br />WITNESSETH: <br /> <br /> WHEREAS, the DEVELOPERS are the fee owner of the following described property <br />situated in the CITY OF RAMSEY, County of Anoka, State of Minnesota, and legally <br />described as follows: <br /> <br />The north half of the Southwest Quarter of the Northwest Quarter, Section 21, Township <br />32, Range 25, Anoka County, Minnesota, subject to any and all easements of record. <br /> <br />Or upon recording: <br /> <br />Lots I/IA, 2/2A, Outlot A, Smith Addition, Anoka County, Minnesota. <br /> <br />(the "Subject Property"); and <br /> <br /> WHEREAS, on October 11, 2001, pursuant to Resolution #01-t0- , the CITY <br />approved the final plat of the Subject Property which plat is known as SMITH ADDITION (the <br />"Plat") contingent on certain requirements, including DEVELOPERS and CITY entering into <br />this agreement; and <br /> <br />WHEREAS, the Plat consists of two (2) lots totaling approximately __ acres; and <br /> <br /> WHEREAS, approval of the Final Plat is given pursuant to the City's Subdivision Code <br />Section 9.50.05 (Subd. 1) entitled "Division or Consolidation of platted Lots". <br /> <br /> WHEREAS, no expenditure of CITY funds will be made until City Code escrow <br />requirements have been fulfilled by the DEVELOPER. <br /> <br /> I <br /> I <br /> <br />i <br />I <br />i <br />I <br />I <br />[ <br />I <br />[ <br />[ <br />I <br />I <br />I <br />I <br /> <br />i <br />I <br /> <br /> <br />