Laserfiche WebLink
CIT~ OF <br /> <br />DKVm.OPNZHT COFFB~CT - liVER'S BKI[D 2ID ADDITIOlq <br /> <br /> THIS A~E~NT, made and entered into this day of <br />198~, by and betveen the City of lams.y, a municipal corporation of the State <br />of Hinnesota (hereinafter called the "City"), end River's Bend Properties, s <br />Hinnesota Partnership (hereinafter called the "Developers"), <br /> <br />I/IT~BSSKI~: <br /> <br /> I/HEREAS, the Developers are the o~ners of the follo~iug described property <br />situated in the City of Ra~sey, County of An,ks, State of Minnesota and legally <br />described as follo~s: <br /> <br />See attached Exhibit sA: <br /> <br />hereinafter ~aubject property". <br /> <br /> WHEREAS, the City has approved the plat, of the subject property vhich <br />plat is known as ]LIVER'S B~IH) 2~D ADDITIO], and <br /> <br /> I/HEREAS, City Code Section 170.039B defines 'Stage Iu Improvements and <br />~Stage II" Improvers,mrs vhich definition is used herein vhen reference is made <br />to ~Stage Itu and ~Stage II~ I~prov~ents. <br /> <br />NO~, THEREFORE, the City and Developers agree as follo~s: <br /> <br />1. As to Stage II I~prove~ents: <br /> <br />The Developers agree to complete the Stage II I~provements required by <br />City Code Section 170.039B, paragraph 1 and said completion shall be in <br />accordance vith the schedule outlined in ~ectlon 170.039C, paragraph 3 <br />of the City Code. <br /> <br />Bo <br /> <br />The Developers shall provide a financial guarantee in the for~ of an <br />escrow to the City to guarantee the completion of the Stage II <br />Improvements. The escrov for Stage II Improvements shall be 125Z of <br />the City Engineer's est/mated cost of such improvements. The City <br />Engineer has estimated the escrov amount to be $800.00. Said escrov <br />be by cash or letter of credit acceptable to the City. The escrov <br />shall be provided prior to the issuance of any building per. its for any <br />lot in the plat. <br /> <br />The Developers agree that this Development Contract shall be binding upon <br />its successors and assigns. Breach of any of the ter~s of this Development <br />Contract by the Developers shall be grounds [or denial of building permits <br />for buildings in the RIVER'S BKKD 2ND EDITION plat. <br /> <br />The tern ~certificate of occupancy" as used herein shall be defined as: a <br />document issued by the City's Building Official vhich authorizes the <br /> <br /> <br />