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BUSINESS PARK 95 5TH 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 CARL S. JOHNSON <br />AND LORENCE R. JOHNSON (DEVELOPER A), AND CRAIG BJORKLUND <br />(DEVELOPER B). <br /> <br />WITNESSETH: <br /> <br /> WHEREAS, the DEVELOPERS are the fee owners 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 />Lots 1 and 2, Block t, and Outlots A and B; Business Park 95 5th Addition, Anoka <br />County, Minnesota. <br /> <br />("Subject Property"); and <br /> <br /> WHEREAS, on May 27, 1997, pursuant to Resolution No.97-05- ., the CITY has <br />approved the final plat of the Subject Property which plat is known as Business Park 95 5th <br />Addition (the "Plat"), which approval is contingent on certain requirements, including the <br />DEVELOPERS and CITY entering into this Agreement; and <br /> <br /> WHEREAS, the purpose of the Plat is to replat existing parcels in order to convey <br />property to the CITY for proper tree preservation practices. The result of the replatting of <br />property is that Craig Bjorklund will convey 16,975 square feet to the City, Carl Johnson and <br />Lorence Johnson will convey 19,250 square feet to Craig Bjorldund, and the CITY will convey <br />15,660 square feet to Carl and Lorenee Johnson and 44,550 square feet to Craig Bjorklund. <br /> <br />NOW, THEREFORE, the CITY and DEVELOPERS agree as follows: <br /> <br />CONFORMANCE TO CITY CODE AND PLAN <br /> <br />City. Code Compliance, That the DEVELOPERS will develop the Plat in accordance <br />with the City Code, Section 9.50, entitled "Subdivision". <br /> <br />Conformancey,,ith Plan. The Plat shall be developed pursuant to the final plat for <br />Business Park 95 5th Addition, consisting of two sheets prepared by Hakanson Anderson <br />Associates, Inc. In the event release of the plat occurs after July 1, the DEVELOPERS <br />will be required to escrow with the CITY a cash amount equal to the estimated amount of <br /> <br />I <br /> <br />I <br />'l <br />I <br />I <br />I <br /> <br /> <br />