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AGREEMENT REGARDING RIGHT-OF-WAY <br /> <br /> THIS AGREEMENT regarding right-of-way is entered into as of this day of <br />January, 2004, by and between EDINA DEVELOPMENT, INC., a Minnesota corporation, <br />whose address is 700 Industry Avenue, An0ka, MN 55303 ("EDINA"), OAKWOOD LAND <br />DEVELOPMENT, INC., a Minnesota corporation, whose address is 1611 Highway 10 N.E., <br />Spring Lake Park, MN 55432 ("OAKWOOD"), U.S. HOMES, INC., a Minnesota corporation, <br />("U.S. HOMES"), and the CITY OF RAMSEY, a Minnesota municipal corporation ("CITY"). <br /> <br />RECITALS <br /> <br />mo <br /> <br />EDINA is the fee owner of land located in the CITY platted as Evergreen Point <br />Townhomes Second Addition, Anoka County, Minnesota ("EVERGREEN SECOND"). <br /> <br />OAKWOOD is the fee owner of land located in the CfTY platted as Outlot A Sunflower <br />Ridge ("O.L.A. SUNFLOWER RSDGE') which O.L.A. SUNFLOWER RIDGE lies <br />adjacent to EVERGREEN SECOND. <br /> <br />U.S. HOMES is the holder of an Option to Buy O.L.A. SUNFLOWER RIDGE from <br />OAKWOOD. <br /> <br />All of the land referenced herein is located within the CITY, the CITY and EDINA have <br />entered into a Development Agreement providing for the development of EVERGREEN <br />SECOND, which Development Agreement is dated November 25, 2002 (the "Evergreen <br />Development Agreement"). <br /> <br />Paragraph 25 of the Evergreen Development Agreement requires EDINA to construct a <br />temporary cul-de-sac at the westerly terminus of 154th Lane within EVERGREEN <br />SECOND and provide the CITY with an easement for said cul-de-sac (the "cul-de-sac"). <br />The easement is to expire upon the. construction of 154th Lane NW within O.L.A. <br />SUNFLOWER RIDGE. <br /> <br />EDINA has not provided the CITY with the cul-de-sac easement nor has the cul-de-sac <br />been constructed to City standards. <br /> <br />EDINA has commenced construction of townhomes on its platted land adjacent to where <br />the cul-de-sac should be located and which townhome construction precludes <br />constructing the temporary cul-de-sac to CITY street standards. The CITY has issued a <br />stop order prohibiting EDINA fi-om any further construction of its Townhomes pending <br />compliance with the Development Agreement and installation of the cul-de-sac. <br /> <br />The parties agree that OAKWOOD and U.S. HOMES will grant a permanent public <br />street and utility easement to the CITY over part of O.L.A. SUNFLOWER RIDGE for <br />the construction of 154th Lane within the Sunflower Ridge plat. <br /> <br />-213- <br /> <br /> <br />