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CITY OF RAMSEY
<br />ANOKA COUNTY, MINNESOTA
<br /> DEVELOPMENT AGREEMENT
<br /> NORTHFORK OAKS 3RD ADDITION
<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 NORTH FORK, INC., a
<br />Minnesota corporation, whose address is 713 Bradford Avenue N., Champlin, Minnesota, ("the
<br />DEVELOPER").
<br /> WlTNESSETH:
<br />
<br /> WHEREAS, the DEVELOPER is the fee owner of the following described property
<br />situated in the CITY OF R_AMSEY, County of Anoka, State of Minnesota, and legally
<br />described as follows:
<br />
<br /> Lots 1, 2, 3, 4, 5, 6, and 7, Block' 1;.Lots 1, 2, 3, 4, 5, 6, 7, 8 and 9, Block 2; Lots 1, 2, 3,
<br /> 4, and 5, Block 3; Northfork:Oaks ~3~l'Addition, Anoka County, Minnesota;
<br /> the "Subject Property"; and .... ': ' !
<br />
<br /> WHEREAS, on December 9, 1997, pursuant to Resolution 97-I2-.., the CITY
<br />approved the final plat of the Subject Property which plat is known as NORTHFORK OAKS
<br />3RD ADDITION (the "Plat") contingent on certain requirements, including DEVELOPER and
<br />CITY entering into this contract; and
<br />
<br /> WHEREAS, the final plat for the Subject Property conforms to the preliminary plat for
<br />Nortkfork Oaks 2nd Addition approved by the CITY on January 24, 1995; and
<br />
<br /> WHEREAS, the DEVELOPER herein attests to the fact that there are wetlands existing
<br />on the Subject Property; and
<br />
<br /> WHEREAS, no expenditure of CITY funds, will be made until the City Code escrow
<br />requirements have been fulfilled by DEVELOPER; and
<br />
<br /> WHEREAS, City Code Section 9.50.50 defines "Stage I" Improvements and "Stage II"
<br />Improvements which definition is used herein when reference is made to "Stage I" and "Stage
<br />11" Improvements; and
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