Agenda - Council - 10/08/1991 - Laserfiche WebLink

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WHEREAS, City Code Section 9.50.50 defines "Stage I" Improvements and "Stage II" improvements which definition is usexl herein when reference is made to "Stage I" and "Stage l 1" improvements; and WHEREAS, the DEVELOPERS desire to construct the Stage I and Stage II improvements, except for those Stage II Improvements constructed by' the CITY. NOW, THEREFORE, the CITY and DEVELOPERS agree as follows: P.U .D. CiD' Code Com_uliance. That the DEVELOPERS 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 HUNTERS RIDGE ADDITION" consisting of three (3) sheets, prepared by Lot Surveys Company, Inc. entitled Hunter's Ride and received by the CITY on October 2, 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 Imvrovernents Required. The DEVELOPERS agree to construct the required Stage I Improvements according to the terms and conditions of this contract and in accordance with DEVELOPERS' plans submitted to the CITY. Said plans consist of a set of five plan and profile sheets showing street grades and drainage structures, along with a cover sheet entitled "Grading and Drainage Plan: Hunter's Ridge Subdivision", dated August 16, 1991. All of the above plans were prepared by Kenneth J. Gust, P.E.. Stage 1 Imorovements - Completion Date· The Improvement completion date shall be on or before August 31, 1992. Stage 1 Im_~rovernent Financial Guarantee. The DEVELOPERS agree and understand that the CITY has the fight, 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 graded 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 - HUNTERS RIDGE ADDITION Page 2 of 7 I I I I I ! I I I I I I I I I I I I I