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I <br />I <br />I <br />I <br />I <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> measured along said northerly right of way line, southeasterly of point of intersection <br /> thereof with said west line of the' East Half of Government Lot 4. <br /> <br /> Also being a part of Lot 11, Auditor's Subdivision No #30, Anoka County. <br /> <br />Or after recording of the Sunfish Commons plat; <br /> <br /> Lots 1 and 2, Block 1, Sunfish Commons <br /> <br />("Subject Property"); and <br /> <br /> WHEREAS, on April 24, 2001, pursuant to Resolution No.01-04~190, the CITY has <br />approved the final plat of the Subject Property which plat is known as SUNFISH COMMONS <br />(the "Plat"), which approval is contingent on certain requirements, including the DEVELOPER <br />and CITY entering into this Agreement; and <br /> <br /> WHEREAS, no expenditure of CITY funds will be made until the City Code escrow <br />requirements have been completed by the DEVELOPER; and <br /> <br /> WHEREAS, City Code Section 9.50.50 defines "Stage I" Improvements and "Stage II" <br />Improvements which respective definitions are used herein when reference is made to "Stage <br />and "Stage II" Improvements. <br /> <br />NOW, THEREFORE, the CITY and DEVELOPER agree as follows: <br /> <br />STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />1. Ci~ Code Compliance. That the DEVELOPER will develop the Plat in accordance <br />with the applicable provisions of City Code, Section 9.50, entitled "Subdivision". <br /> <br />2. Conformance with Plan. The Plat shall be developed pursuant to the final plat for <br />Sunfish Commons consisting of one sheet prepared by John Oliver & Associates, Inc. <br /> <br />3. Compliance with City Code. That the recitals above and the applicable provisions of <br />the City Charter, Subdivision Code, Zoning Code and Public Improvement Code of the CITY as <br />amended to date hereof, are incorporated herein by reference. <br /> <br />4. Stage I Improvements. Stage I Improvements shall consist of sanitary, sewer, municipal <br />water, and storm sewer. The installation of these Improvements shall be established as a term of <br />the Development Permit entered into with the CITY for the development of the property <br />subsequent to obtaining site plan approval from the City Council. <br /> <br />-283- <br /> <br /> <br />