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11111111 01111101 111111111 00111111111 Record ID 3250837 CITY OF RAMSEY --r-• ��' 3 DEVELOPMENT AGREEMENT FOR HARVEST ESTATEStPHASE I) This Agreement (hereinafter the "Agreement") is dated as of this \4 day of . 2015 and is by and between the CITY OF RAMSEY, a Minnesota municipal corporation (the "CITY") and G S LAND, LLC, 1334 138't' Ave NW, Andover, MN 55304, a Minnesota domestic limited liability company (the "PERMITTEE"). WHEREAS, the CITY is the owner of land legally described on the attached Exhibit A (the "Subject Property"); and WHEREAS, the CITY has agreed to convey'a portion of the Subject Property described on the attached Exhibit B of the Subject Property to the PERMITTEE ("Phase I"); and WHEREAS, the PERMITTEE has received approval from the CITY to subdivide the Subject Property and plat the same as HARVEST ESTATES (the "Plat"); and WHEREAS, the Plat re -subdivides the Subject Property into Lots 1-24, Block 1, Lots 1- 8, Block 2, and Outlot A, HARVEST ESTATES, Anoka County, Minnesota. 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 Final Plat Plans prepared by Hedlund Engineering, Inc. dated March 5, 2015, revised April 29, 2015. The Plans remain subject to: "(a) CITY Staff's review and approval of the April 29, 2015 revisions to, among other things, confirm that the revisions requested in the CITY.Staff's May 21, 2015 review letter have been made; and (b) such further revisions as the PERMITTEE may propose and the CITY approves. The Plans shall not be attached to this Agreement, but are in the CITY'S files. 2110802.003