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WHEREAS the Developer is to be responsible for the installation and financing of <br />certain priVate improvements within the plat; and <br />WHEREAS said City Subdivision City Code and Minnesota Statute 462.358 <br />authorizes the Cite/ to enter into a Development Contract secured by cash escrow or <br />irrevocable letter f credit to guarantee completion and payment of such improvements <br />following final app:oval by the City Council and prior to recording of final plat a Anoka <br />County; and <br />WHEREAS Minnesota Statute 429 provides a method for assessing the cost of <br />City installed imprcvernents to the benefited property. <br />NOW, THEREFORE, in consideration of the mutual promises of the parties made <br />herein, <br />IT IS AGR1-1-=D BY AND BETVVEEN THE PARTIES HEREIO: <br />ARTICLE ONE <br />DESIGNATION OF IMPROVEMENTS <br />Improveme its to be installed at the Developer's expense by the Developer as <br />hereinafter provikled are -hereinafter referred to as "Developer Improvements". <br />Improvements to Le installed by the City and financed through assessment procedures are <br />hereinafter referrekl.to as "City Improvements". <br />ARTICLE TWO <br />DEVELOPER'S IMPROVEMENTS <br />The Developer will construct and install at Developer's expense the following <br />improvements accDrding to the following terms and conditions: <br />. . <br />A The Developer shall do all site grading including the front 100 feet of the lots (unless <br />otherwise dete-mined and approved by the City Engineer), common greenway, parks, <br />trails/sidewalks and open spaces, storm water storage ponds and surface drainage <br />ways including sodding of boulevards, all in accordance with the approved grading, <br />drainage and ._te plan. Furthermore such grading shall provide for a buildable area on <br />each lot in such size as required by Andover City Code #11. Upon completion of all <br />-1- <br />