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or upon recording: <br /> <br />Lots 1 and 2, Block 1, G-B PROPERTIES FIRST ADDITION, Anoka County, <br />Minnesota <br /> <br />("Subject Property"); and <br /> <br /> WHEREAS, on January 26, 1999, pursuant to Resolution No.99-01- , the CITY has <br />approved the final plat of the Subject Property wkich plat is known as G-B PROPERTIES <br />FIRST ADDITION (the "Plat"), which approval is contingent on certain requirements, including <br />the DEVELOPER and CITY entering into this Agreement; and <br /> <br /> WHEREAS, a trunk usage charge is required by the CITY for usage of its Trunk Sewer <br />and Water System, which charge is $9,324.00 per commercial acre and shall apply to Lots 1 and <br />2, Block 1. <br /> <br /> WltEREAS, no expenditure of CITY funds will be made until the City Code escrow <br />requirements have been completed by the DEVELOPER; and <br /> <br /> Wt"iEREAS, 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 I" <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. City Code Compliance. That the DEVELOPER will develop the Plat in accordance with <br /> 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 G-B <br /> Properties First Addition consisting of one sheet prepared by Kemper & Associates Inc. <br /> <br />o <br /> <br />Compliance with City Code. That the recitals above and the applicable provisions of the <br />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 />Stage I Improvements. Stage I Improvements shall consist of sanitary sewer, municipal <br />water, and storm sewer and have been provided to Lot 1 as a term of the Development Permit <br />for the development of the hotel on said lot. The installation of these Improvements for Lot 2 <br />shall be establish'ed as a term of the Development Permit entered into with the CITY for the <br />development of said lot subsequent to subsequent to site Plan approval from the City Council <br />and prior to the release of any building permit. <br /> <br />I <br />I <br /> <br />I <br />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 /> <br /> <br />