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CITY OF RAMSEY
<br />ANOKA COUNTY, MINNESOTA
<br />DEVELOPMENT AGREEMENT . RIVENWICK
<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 FAYE
<br />CONSTRUCTION COMPANY, A MINNESOTA PARTNERSHIP, whose address is 2905
<br />North Ferry Street, Anoka, Minnesota, 55303, (hereinafter referred to as "DEVELOPER A")
<br />and RIVENWlCK CORPORATION, A MINNESOTA CORPORATION, whose address is
<br />2605 Fernbrook Lane, Suite A, Plymouth, Minnesota 55447, (hereinafter referred to as
<br />"DEVELOPER B"). Jointly, DEVELOPER A and DEVELOPER B shall be [mown as the
<br />"DEVELOPERS".
<br />
<br />WlTNESSETH:
<br />
<br /> WHEREAS, DEVELOPER A 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:
<br />
<br />Lots 1,2,3,4,5, and6, Block 1; Lots 1,2,3,4,5,6,7,8,9, 10, 11, 12, 13, 14, 15,
<br />16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29'and 30, Block 2; Lots 1, 2, 3, 4,
<br />5, 6, 7, g and 9, Block 3; RIVENW-ICK 2ND ADDITION, Amok% County, Minnesota
<br />
<br />the "Subject Property"; and
<br />
<br /> WHEREAS, on February 8, 1994 pursuant to Resolution 94-02- the CITY approved
<br />the £mal plat of the Subject Property wi-rich plat is known as RtVENWlCK 2ND ADDITION
<br />(the "Plat") contingent on ce.-'min requh'ements, including DEVELOPERS and CITY entering
<br />into this contract; and
<br />
<br /> WlqEREAS, the final plat for the Subject Property. conforms to the preliminary plat for
<br />l::aye 2nd Add/fion (aka Rfivenwick) as approved by the CITY on April 23, 1991 and revised on
<br />Fer~ary 8, 1994; and
<br />
<br /> WHEREAS, no expenditure of CITY funds, wilt be made until the City. Code escrow
<br />requirements have been fulfilled by DEVELOPERS; and
<br />
<br />
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