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SUNFISH LAKE ESTATES
<br /> DEVELOPMENT AGREEMENT
<br />CITY OF RAMSEY, ANOKA COUNTY, MINNESOTA
<br />
<br /> THIS AGREEMENT, made and entered into by and between the CITY OF
<br />RAMSEY, a municipal corporation of the State of/vLinnesota (the "CITY"), and GOOD
<br />VALUE HOMES, INC., a Minnesota corporation, whose address is 9445 East River
<br />Road N.W., Coon Rapids, Minnesota 55433 (the "DEVELOPER").
<br />
<br />WlTNESSETH:
<br />
<br /> WHEREAS, the DEVELOPER is the fee owner of the following described
<br />property situated in the CITY OF RAMSEY, County of Anoka, State of Minnesota, and
<br />legally described as follows:
<br />
<br />Lots 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, and 18, Block 1; Lots
<br />1, 2, 3, 4, 5, 6, and 7, Block 2; SUNFISH LAKE ESTATES, Anoka County,
<br />Minnesota.
<br />
<br />(the "Subject Property"); and
<br />
<br /> WHEREAS, on July 9, 1996, pursuant to Resolution No. 96-07- , the CITY
<br />approved the final plat of the Subject Property wkich plat is known as SUNFISH LAKE
<br />ESTATES (the "Plat"), which approval is contingent on certain requirements, including
<br />the DEVELOPER and the CITY entering into this Agreement; and
<br />
<br /> WHEREAS, the f'mal plat for the Subject Property conforms to the preliminary
<br />plat for Pondview approved by the CITY on March 12, 1996; and
<br />
<br /> WHEREAS, the DEVELOPER herein attests to the fact that there are wetlands
<br />located on the Plat; and
<br />
<br /> WHEREAS, a trunk usage charge is required by the CITY for usage of its Trunk
<br />Sewer and Water System, which charge is $1563 per residential unit created; and
<br />
<br /> WHEREAS, the DEVELOPER intends to cause the construction of the
<br />following improvements in the Plat without f'mancial participation on the part of the CITY,
<br />to-wit: Sanitary sewer, storm drainage facilities, watermains and appurtenances, and streets
<br />with concrete curb and gutter, which improvements are termed Stage I Improvements in the
<br />City Code ("Stage I Improvements"); and
<br />
<br /> WHEREAS, City Code Section 9.50.50 defines "Stage I" Improvements and
<br />"Stage II" Improvements which respective definitions are used herein when reference is
<br />made to "Stage I" and "Stage II" Improvements; and
<br />
<br /> WHEREAS, the DEVELOPER desires to constuct the Stage I and Stage II
<br />improvements, except for those Stage II Improvements constructed by the CITY; and
<br />
<br /> WHEREAS, no expenditure of CITY funds will be made until the City Code
<br />escrow requirements have been completed by the DEVELOPER.
<br />
<br />NOW, THEREFORE, the CITY and DEVELOPER agree as follows:
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