Agenda - Council - 10/14/1997 - Laserfiche WebLink

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I ! I I DEAL COMMERCIAL CENTER DEVELOPMENT AGREEMENT CITY OF RAMSEY~ ANOKA COUNTY~ MINNESOTA THIS AGREEMENT, made and entered into by and between the CITY OF RAMSEY, a municipal corporation of the State of Minnesota (the "CITY"), and JAMES AND PAMELA DEAL, husband and wife, whose address is 670I Hwy #10 N.W., Ramsey, Mn 55303 (the "DEVELOPER"). WlTNESSETH: WHEREAS, the DEVELOPER is the fee owner of the following described property situated in the CITY OF RAMSEY, County of Anoka, State of Minnesota, and legally described as follows: Lots 1, 2 and 3, Block 1, DEAL COMMERCIAL CENTER, Anoka County, Minnesota ("Subject Property"); and WHEREAS, on October 14, 1997, pursuant to Resolution No.97-10- , the CITY has approved the final plat of the Subject Property which plat is known as DEAL COMMERCIAL CENTER (the "Plat"), which approval is contingent on certain requirements, including the DEVELOPER and CITY entering into this Agreement; and WItEREAS, a tnmk usage charge is required by the CITY for usage of its Trunk Sewer and Water System, which charge is $8,920.00 per commercial acre and shall apply to that part of Lot 1 lying directly north of Lots 2 and 3, and Lots 2 and 3. WHEREAS, no expenditure of CITY funds will be made until the City Code escrow requirements have been completed by the DEVELOPER; and WHEREAS, City Code Section 9.50.50 def'mes "Stage I" Improvements and "Stage II" Improvements which respective definitions are used herein when reference is made to "Stage I" and "Stage II" Improvements. NOW, THEREFORE, the CITY and DEVELOPER agree as follows: STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES 1. Ci_ty Code Compliance, That the DEVELOPER wiIl develop the Plat in accordance with the City Code, Section 9.50, entitled "Subdivision".