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WOOD POND HILLS DEVELOPMENT AGREEMENT <br /> <br /> CITY OF RAMSEY <br /> <br />ANOKA COUNTY, MINNESOTA <br /> <br /> THIS AGREEMENT, made and entered into by and between the CITY OF <br />RAMSEY, a municipal corporation of the State of Minnesota (the "CITY"), and WPH <br />PROPERTIES, INC., a Minnesota corporation, whose address is 11900 Wayzata Blvd., Suite <br />205, Minnetonka, MN 55343 (the "DEVELOPER"). <br /> <br /> WITNESSETH: <br /> WHEREAS, the DEVELOPER is the fee owner of the following described property <br />situated in the cITY OF RAMSEY, County of Anoka, State of Minnesota, and legally described <br />as Outlot H of Wood Pond Hills Subdivision; and <br /> WHEREAS, on August 3, 1992, pursuant to Resolution #92-08- , the CITY has <br />approved the final plat of the Subject Property which plat is known as WOOD POND HILLS <br />2ND ADDITION (the "Plat"), which approval is contingent on certain requirements, including <br />DEVELOPER and CITY entering into this Agreement; and <br /> WHEREAS, DEVELOPER has submitted a petition requesting the extension of sewer <br />and water to the Subject Property; and <br /> WHEREAS, a trunk usage charge is required by the CITY for usage of its Trunk Sewer <br />and Water System, which charge is $1357 per residential unit created; and <br /> WHEREAS, the DEVELOPER has submitted a petition to the CITY requesting the <br />construction of the following improvements in the Plat, to-wit: Sanitary sewer, storm drainage <br />facilities, watcrmains and appurtenances, streets with concrete curb and gutter and street lights, <br />which improvements are termed Stage I Improvements in the City Code ("Stage I Improvements"); <br />and <br /> <br /> WHEREAS, pursuant to said petition, the CITY ordered the preparation of a feasibility <br />report prepared by its City Engineer relating to the proposed Stage I Improvements; and <br /> WHEREAS, the CITY conducted an Improvement Public Hearing on the Stage I <br />Improvements on July 9, 1991; and <br /> WHEREAS, no expenditure of CITY funds, including the ordering of plans and <br />specifications, will be made until the Cit.',, Code escrow requirements have been completed by <br /> <br />DEVELOPMENT AGREEMENT. WOOD POND HILLS - 2ND ADDITION <br /> Page I of 11 <br /> <br /> <br />