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BRANDSETH DEVELOPMENT AGREEMENT
<br />CITY OF RAMSEY
<br />ANOKA COUNTY, MINNESOTA
<br />THIS AGREEMENT, made and entered into by and between the CITY OF
<br />RAMSEY, a municipal corporation of the State of Minnesota (the "CITY "), and EDSON
<br />INVESTMENT FAMILY LIMITED PARTNERSHIP, a Minnesota limited partnership,
<br />"DEVELOPER ").
<br />whose address is 4937 142nd Lane N.W., Ramsey, Minnesota 55303 (the
<br />WITNESSETH:
<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 upon recording of the plat:
<br />Lots 1, 2, 3, 4, 5, 6, 7, 8, 9 and 10, Block 1; Lots 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12,
<br />13, 14, 15, 16, 17, 18, 19, 20, 21 and 22, Block 2; Lots 1, 2, 3, 4, 5, 6, 7 and 8, Block
<br />3; Outlot A, Anoka County, State of Minnesota.
<br />and;
<br />WHEREAS, on March 26, 1996, pursuant to Resolution No. 96 -03 -_, the CITY has
<br />approved the final plat of the Subject Property which plat is known as BRANDSETH (the
<br />"Plat "), which approval is in accordance with the preliminary plat for Brandseth approved on
<br />February 13, 1996, and which approval is contingent on certain requirements, including
<br />DEVELOPER CITY into Agreement;
<br />and entering this and
<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: Sanitary
<br />r
<br />sewer, storm drainage facilities, watermains and appurtenances, and streets with concrete curb and
<br />gutter, which improvements are termed Stage I Improvements in the City Code ( "Stage I
<br />Improvements "); and
<br />WHEREAS, City Code Section 9.50.50 defines "Stage I" Improvements and "Stage H"
<br />Improvements which respective definitions are used herein when reference is made to "Stage I"
<br />and "Stage II" Improvements; and
<br />WHEREAS, is by CITY for its
<br />a trunk usage charge required the usage of Trunk Sewer
<br />and Water System, which charge is $1563 per residential unit created; and
<br />WHEREAS, no expenditure of CITY funds will be made until the City Code escrow
<br />requirements have been completed by DEVELOPER; and
<br />NOW, THEREFORE, the CITY and DEVELOPER agree as follows:
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