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27. Parkland and Trail Dedication. The Subject Property is located in the Greenland <br />Hills District. Per the Master Development Agreement, the CITY and the DEVELOPER are <br />currently negotiating a Parks and Trail Agreement. Park dedication requirements may, at the <br />CITY'S absolute discretion, be satisfied by a cash payment in the amount of $226,000 (103 <br />units x $2200 per unit). Trail Development Fees in the amount of $56,500.00 (103 units x <br />$550.00 per unit) are also required. Until such time the Park and Trail Agreement is completed, <br />the Developer shall be required to establish an escrow with the CITY to secure payment of said <br />$226,000.00 (the "Park Dedication Fee") and the said $56,500 (the "Trail Development Fee"). <br />In the event that the park dedication fee and/or trail development fee required herein is not paid <br />or otherwise satisfied pursuant to the terms of said Section 4.12 of the Master Development <br />Agreement, the CITY in its sole discretion may either call upon the escrow established or issue <br />a stop work order on construction on the Subject Property until the Park Dedicatio. n Fee has <br />been paid. <br /> <br /> 28. Sidewalk Construction, The DEVELOPER shall construct and pave, in <br />accordance with CITY standards, a five (5) foot wide concrete sidewalk with pedestrian ramps <br />in locations prescribed by the CITY, not to exceed 5%. Sidewalk construction will occur along <br />Peridot St. NW, Olivine St. NW, .and 146th Ave. NW. The costs associated with sidewalk <br />construction are not eligible as a credit towards the Trail Development Fees and/or Park <br />Dedication requirements due on the Plat. <br /> <br /> 29. Notices. Required notices to the DEVELOPER shall be in writing, and shall be <br />either hand delivered to the DEVELOPER, its employees or agents, or mailed to the <br />DEVELOPER by certified or registered mail at the following address: <br /> <br />Ramsey Town Center, LLC <br />4200 Central Ave. NE <br />Minneapolis, MN 55421 <br /> <br />Notices to the CITY shall be in writing and shall be either hand delivered to the CITY <br />Administrator, or mailed to the CITY by certified mail or registered mail in care of the CITY <br />Administrator at the following address: <br /> <br />CITY Administrator <br />CITY of Ramsey <br />15153 Nowthen Boulevard NW <br />Ramey, Minnesota 55303 <br /> <br />Ramsey Town Center 2~a Addition <br />Development Contract <br /> Page 11 of 14 Pages <br /> <br /> <br />