Agenda - Council - 09/24/1991 - Laserfiche WebLink

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WHEREAS, no expenditure of CITY funds, will be made until the City Code escrow requirements have been fulfflted by DEVELOPER; and WHEREAS, City Code Section 170.039B defines "Stage r' Improvements and "Stage II" Improvements which definition is used herein when reference is made to "Stage I" and "Stage 11" Improvements; and WHEREAS, the DEVELOPER desires to construct the Stage I and Stage II improvements, except for those Stage II Improvements constructed by the CITY. NOW, THEREFORE, the CITY and DEVELOPER agree as follows: P.U.D. City Code Compliance. That the DEVELOPER will develop the Plat in accordance with the City Code, Section 9.20.31, entitled "Planned Unit Development." Conformance with Plan. The P.U.D. shall be developed pursuant to the "FINAL PLAT FOR THE PLANNED UNIT DEVELOPMENT OF NORTHFORK POINT ADDITION" consisting of two (2)sheets, prepared by Bradley J. Cannaday RLS entitled Northfork Point Addition and dated as received by the CITY on September 12, 1991. II. STAGE 1. IMPROVEMENTS Compliance with City Code. That the recitals above and the provisions of the City Charter, Subdivision Code, Zoning Code and Public Improvement Code of the CITY as amended to date hereof, are incorporated herein by reference. Stage I Improvements Reauired. The DEVELOPER agrees to construct the required Stage I Improvements according to the terms and conditions of this contract and in accordance with DEVELOPER'S plans submitted to the CITY. Said plans consist of two (2) sheets dated June 14, 1991 prepared by Probe Engineering Company, Inc. Stage 1 Improvements- Completion Date. The Improvement completion date shall be on or before June 1, 1992. $ Stage 1 Improvement Financial Guarantee. The DEVELOPER agrees and understands that the CITY has the right, privilege and authority pursuant to Minnesota Statutes Chapter 462.358 and as amended as a condition precedent to the approval of the plans and specifications and approval of a final plat, to prescribe requirements and the extent to which, and the manner in which the streets are to be ~aded or improved, and the installation of other facilities and that the DEVELOPER shall provide a financial guarantee to the CITY to provide for the actual construction and installation of the required Stage I Improvements within a period specified by the City Council. DEVELOPMENT AGREEMENT - NORTHFORK POINT ADDITION Page 2 of 6 I I I I I I I I I I I I I I I I I I I