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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 /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> <br /> HOLIDAY ACRES <br /> DEVELOPMENT AGREEMENT <br />CITY OF RAMSEY, ANOKA COUNTY, MINNESOTA <br /> <br /> THIS AGREEMENT, made and entered into by and between the CITY OF <br />RAMSEY, a municipal corporation of the State of Minnesota (the "CITY"), and <br />PHOENIX ENTERPRISES, L.L.C., a Minnesota Limited Liability Corporation, whose <br />address is 19230 .Elk River, MN 55330 (the "DEVELOPER"). <br /> <br />WITNESSETH: <br /> <br /> WHEREAS, the DEVELOPER is the fee owners of the following described <br />property situated in the CITY OF RAMSEY, County of Anoka, State of Minnesota, and <br />legally described as follows: <br /> <br />Outlots A, B, C, and G, River Bend 3'a Addition, Anoka County, Minnesota <br /> <br />-or upon recording:- <br /> <br />Lot 1 and 2, Block 1, HOLIDAY ACP, ES, Anoka County, Minnesota <br /> <br />(" Subject Property"); and <br /> <br /> WHEREAS,'on December 12, 2000, pursuant to Resolution No.00-12- , the <br />CITY has approved the final plat of the Subject Property which plat is known as <br />HOLIDAY ACRES (the "Plat"), which approval is contingent on certain requirements, <br />including the DEVELOPER and CITY entering into this Agreement; and <br /> <br /> WHEREAS, sewer and' water trunk charges were satisfied through a previous <br />development agreement and are not applicable to this plat. <br /> <br /> WHEREAS, no expenditure of CITY funds will be made until the City Code <br />escrow requirements have been completed by the DEVELOPER; and <br /> <br /> WHEREAS, City Code Section 9.50.50 defines "Stage I" Improvements and <br />"Stage II" Improvements which respective definitions are used herein when reference is <br />made to "Stage I" and "Stage II" Improvements. <br /> <br />NOW, THEREFORE, the CITY and DEVELOPER agree as follows: <br /> <br />-263- <br /> <br /> <br />