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CITY OF RAMSEY <br />DEVELOPMENT AGREEMENT FOR COUNTRY CLUB HILLS <br />This Agreement (hereinafter the "Agreement") is dated as of this day of <br />, 2015 and is by and between the CITY OF RAMSEY, a Minnesota municipal <br />corporation (the "CITY") and U.S. HOME CORPORATION, dba LENNAR, a Delaware <br />Corporation (the "PERMITTEE"). <br />WHEREAS, the PERMITTEE is the owner of land legally described on the attached <br />Exhibit A (the "Subject Property"). <br />WHEREAS, the PERMITTEE has received approval from the CITY to subdivide the <br />Subject Property and plat the same as COUNTRY CLUB HILLS (the "Plat"). <br />WHEREAS, the Plat re -subdivides the Subject Property into Lots 1-12. Block 1, Lots 1- <br />6, Block 2, Lots 1-30, Block 3, Lots 1-24, Block 4, Lots 1-8, Block 5, Lots 1-5, Block 6, and <br />Outlots A and B, COUNTRY CLUB HILLS, Anoka County, Minnesota. <br />THEREFORE, THE CITY AND THE PERMITTEE AGREE AS FOLLOW <br />1. Conditions of Annroval. The CITY has approved the Plat subject to satisfaction <br />of the following conditions subsequent: <br />a. The PERMITTEE'S Execution of this Agreement. That the <br />PERMITTEE enter into this Agreement. <br />b. <br />Marketable Title. That prior to recording the Plat, the PERMITTEE shall <br />provide the CITY with proof of marketable title to the Subject Property <br />either through a currently certified abstract, registered property abstract or <br />title insurance commitment or policy. <br />Proof of Authority. That the PERMITTEE provide proof that the <br />respective governing boards of the PERMITTEE have authorized the <br />PERMITTEE'S execution of this Agreement. This proof of authority may <br />be satisfied by providing the CITY with a certified copy of the minutes of <br />the governing board of each entity which grants such authority. <br />d. Trail Easement. That the PERMITTEE shall record a trail easement <br />connecting to Traprock Street to the south. <br />e. Hydrant construction to Traprock Street. The PERMITTEE shall construct <br />a hydrant to the terminus of Traprock Street in the TRAPROCK <br />COMMONS subdivision as shown on the Plans. The Plat shall include a <br />drainage and utility easement encumbering this improvement. <br />