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A.E.C. ENERGY PARK 2ND 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 <br />RAMSEY, a municipal corporation of the State of Minnesota (the "CITY"), and <br />ANOKA ELECTRIC COOPERATIVE, INC., a Minnesota corporation, whose <br />address is 2202 North Ferry Street, Anoka MN 55303, (the "DEVELOPER"). <br /> <br />WITNESSETH: <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 />Lot I and Ouflot A, Block 1, A.E.C. Energy Park 2nd Addition, Anoka County, <br />Minnesota <br /> <br />("Subject Property"); and <br /> <br /> WHEREAS, on August 13, 1996, pursuant to Resolution No.96-08- , the <br />CITY has approved the final plat of the Subject Property which plat is known as A.E.C. <br />Energy Park 2nd Addition (the "Plat"), which approval is contingent on certain <br />requirements, including the DEVELOPER and CITY entering into this Agreement; 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 1I" Improvements. <br /> <br />NOW, THEREFORE, the CITY and DEVELOPER agree as follows: <br /> <br />STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />1. City Code Compliance. That the DEVELOPER will develop the Plat in <br />accordance with the City Code, Section 9.50, entitled "Subdivision". <br /> <br />2. Conformance with Plan, The Plat shall be developed pursuant to the f'mal plat <br />for A.E.C. Energy Park 2nd Addition, consisting of two sheets prepared by Hakanson <br />Anderson Associates, Inc. <br /> <br />3. Compliance with City Code. That the recitals above and the provisions of the <br />City Charter, Subdivision Code, Zoning Code and Public Improvement Code of the CITY <br />as amended to date hereof, are incorporated herein by reference. <br /> <br />4. _Stage I Improvements Required. The DEVELOPER has completed the <br />construction of the required Stage I Improvements with the development of A.E.C. Energy <br />Park. <br /> II. <br /> STAGE II IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />6. .Stage II Improvements Required. The DEVELOPER has provided for the <br />required Stage II Improvements within the development agreement for A.E.C. Energy <br />Park. <br /> <br /> I <br /> I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> <br />