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<br /> REGENCY POND 2ND ADDITION
<br /> DEVELOPMENT AGREEMENT
<br />CITY OF RAMSEY, ANOKA COUNTY, MINNESOTA
<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 GOOD 'VALUE HOMES,
<br />INC., a Minnesota corporation, whose address is 9445 East River Road NW, Coon Rapids,
<br />Minnesota 55433 (the "DEVELOPER")
<br />
<br />WlTNESSETH:
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<br /> WHEREAS, the DEVELOPER is the fee owner of the following described property
<br />situated in the CITY OF RAMSEY, County of Anoka, State of Minnesota, and legally described
<br />as follows:
<br />
<br />Lots 1, 2, 3, 4, and 5, Block 1; Lots 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, and 14,
<br />Block 2; Lots 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, t2, 13, and 14, Block 3; ]Lots 1, 2, 3,
<br />4, and 5, Block 4; Outlot A;
<br />
<br />(the "Subject Property") and
<br />
<br /> WHEREAS, on March 25, 1997, pursuant to Resolution No. 97- -__., the CITY
<br />approved the final plat of the Subject Property which plat is known as REGENCY POND 2ND
<br />ADDITION (the "Plat"), which approval is contingent on certain requirements, including the
<br />DEVELOPER and the CITY entering into this Agreement; and
<br />
<br /> WHEREAS, the final plat for the Subject Property conforms to the preliminary plat for
<br />Regency Pond approved by the CITY on March 12, 1996; and
<br />
<br /> WltEREAS, the DEVELOPER herein attests to the fact that there .'re wetlands located
<br />on the Plat; and
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<br /> WI-IEREAS, a trunk usage charge is required by the CITY for usage of its Trunk Sewer
<br />and Water System, which charge is $1,621 per residential unit created; and
<br />
<br /> WHEREAS, the DEVELOPER intends to cause the construction of the following
<br />improvements in the Plat without financial participation on the part of the CITY, to-wit:
<br />Sanitary sewer, storm drainage facilities, watermains and appurtenances, and streets with
<br />concrete curb and gutter, which impr0~,ements are termed Stage I Improvements in the City Code
<br />("Stage I Improvements"); 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 I"
<br />and "Stage II" Improvements; and
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