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CITY OF RAMSEY <br /> <br /> ANOKA COUNTY, MINNESOTA <br /> <br />DEVELOPMENT AGREEMENT - JENSON ADDITION <br /> <br /> THIS AGREEMENT, made and entered into by and between the CITY <br />OF RAMSEY, a municipal corporation of the State of Minnesota (the <br />"CITY"), and BRADLEY K. JENSON and MARLENE M. JENSON, husband and <br />wife, whose address is 6711 - 137th Avenue N.W, Ramsey, Minnesota <br />and WALLACE S. JENSON and JEAN L. JENSON, whose address is P.O. Box <br />383, Monticello, FIN 55362, all hereinafter referred to as "the <br />DEVELOPER." <br /> <br /> WITNESSETH: <br /> <br /> WHEREAS, the DEVELOPER, Bradley K. Jenson and Marlene M. <br />Jenson, are the fee owners of Lot 5, Block 4 and Lot 3, Block 5, <br />RIVERSIDE WEST; and DEVELOPER, Wallace S. Jenson and Jean L. <br />Jenson, are the fee owners of Lot 2, Block 5, RIVERSIDE WEST; all <br />of which is situated in the City of Ramsey, Anoka County, <br />Minnesota; <br />the "Subject Property"; and <br /> <br /> WHEREAS, on November 27, 1990, pursuant to Resolution 90-11 <br />-__, the CITY approved the final plat of the Subject Property which <br />plat is known as JENSON ADDITION (the "Plat") contingent on certain <br />requirements, including DEVELOPER and CITY entering into this <br />contract; and <br /> <br /> WHEREAS, the Plat consists of six lots which is a <br />resubdivision of three lots originally platted in the RIVERSIDE <br />WEST subdivision; and <br /> <br /> <br />