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3) The estimated cost of the improvement is $157,500. The <br />Developers hereby agrees to provide a mortgage deed to the City in the <br />amount of $236,250 encumbering the following legally described property: <br /> <br />Lot 1 Block 1 <br />Lot 1 Block 6 <br />Lots 1-4 Block 2 <br />Lots 1-4 Block 5 <br />Ail in Alpaca Estates, and <br /> <br />Outlot A Alpaca Estates Second Addition, and <br /> <br />The Northwest Quarter of the Southwest Quarter (NW of SW) <br />of Section 28 Township 32 Range 25 lying Southerly of the <br />Southwesterly right-of-way botundary line of Trunk Highway <br />#10 as shown on Minnesota Department of Transportation <br />Plat 02-M4 filed as Anoka County Recorder'~ Deocument <br />#541039, and <br /> <br />The Northwest Quarter of the Southeast Quarter (NE of SE) <br />of Section 29, Township 32 Range 25 lying Southerly of the <br />Southeasterly right-of-way boundary line of Trunk Highway <br />#10 as shown on Minnesota Department of Transportation <br />Plat 02-M4 filed as Anoka County Recorder's Document <br />#541039, and <br /> <br />The South half of the Northeast Quarter (S of NE) of <br />Section 29 Township 32 Range 25 lying Southerly of the <br />-right-of-wayboandary line of Trunk Highway #10 as shown <br />on Minnesota Department of Transportation Plat 02-M3 filed <br />as Anoka County Recorder's Document #541041, Excepting <br />therefrom the West 39 feet thereof as measured at right <br />angles to the West line of the Southwest Quarter of the <br />Northeast Quarter (SW of NE) of said Section 29, and <br /> <br />All of Government Lots three (3) and four (4) of Section <br />29 Township 32 Range 25 and all of Government Lot 1 <br />Section 32 Township 32 Range 25 lying Easterly of the <br />following described line:' Commencing at the Northeast <br />(NE) corner of said government Lots 3; thence on an assumed <br />bearing of South 80° 12' 08" East along the East line of <br />said Government Lot 3 a distance of 33 feet; thence North <br />89° 56' 06" West parallel with the North line of said <br />Government Lot 3 a distance of 41.25 feet; thence South <br />0° 12' 08" East parallel with the East line of said <br />Government Lot 3 a distance of 1,375 feet more or less to <br />the Northerly shore line of the Mississippi River and there <br />terminating, and <br /> <br />That part of Government Lot 1 Section 33 Township 32 Range <br />25 lying Westerly of the Southerly extension of the East <br />line of Government Lot 1 Section 28 Township 32 Range 25. <br /> <br /> <br />