Agenda - Council - 01/27/2015 - Laserfiche WebLink

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CITY OF RAMSEY DEVELOPMENT AGREEMENT FOR BROOKFIELD 5TH ADDITION This Agreement (hereinafter the "Agreement") is dated as of this day of , 2015 and is by and between the CITY OF RAMSEY, a Minnesota municipal corporation (the "CITY") and 21sT CENTURY BANK, a Minnesota Bank/Insurance Corporation, whose address is 9380 Central Avenue NE, Blaine, MN 55434 ("PERMITTEE"). WHEREAS, the PERMITTEE is the fee owner of the following described property situated in the City of Ramsey, County of Anoka, State of Minnesota, and legally described as follows: Outlot F, BROOKFIELD FIRST ADDITION, Anoka County, Minnesota -or upon recording - Lot 1, Block 1 BROOKFIELD FIFTH ADDITION, Anoka County, Minnesota (the "Subject Property"); and WHEREAS, on January 27, 2015, pursuant to Resolution #15-01-026, the CITY approved the final plat of the Subject Property, which plat is known as BROOKFIELD FIFTH ADDITION (the "Plat"), which approval is contingent on certain requirements, including the PERMITTEE and the CITY entering into this Agreement. THEREFORE, THE CITY AND THE PERMITTEE AGREE AS FOLLOWS: 1. Conditions of Approval. The CITY has approved the Plat subject to satisfaction of the following conditions subsequent: a. The PERMITTEE' S Execution of this Agreement. That the PERMITTEE enter into this Agreement. b. Marketable Title. That prior to recording the Plat, the PERMITTEE shall provide the CITY with proof of marketable title to the Subject Property either through a currently certified abstract, registered property abstract or title insurance commitment or policy. c. Proof of Authority. That the PERMITTEE provide proof that the respective governing boards of the PERMITTEE have authorized the PERMITTEE'S execution of this Agreement. This proof of authority may be satisfied by providing the CITY with a certified copy of the minutes of the governing board of each entity which grants such authority. 2. The Plans. The term "Plans" as used in this Agreement means the Preliminary Plat prepared by E.G. Rud & Sons, Inc. dated January 14, 2015 revised and the Final Plat prepared by E.G. Rud & Sons, Inc. dated January 19, 2015 revised