Agenda - Council - 09/13/2004 - Laserfiche WebLink

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FIRST AMENDMENT' TO MASTER DEVELOPMENT AGREEMENT FIRST AMENDMENT TO MASTER DEVELOPMENT AGREEMENT was made and entered into this __ day of ,2004, by and between the CITY OF RAMSEY, MINNESOTA, a municipal corporation organized and existing under the laws of the State of Minnesota (the "City") and RAMSEY TOWN CENTER LLC, a-Minnesota limited liability company (the "Developer"). RECITALS: WHEREAS, the City and the Developer are parties to the City of Ramsey Master Development Agreement for Ramsey Town Center by and between City of Ramsey and Ramsey Town Center LLC, dated as of September __, 2003 (the "Master Development Agreement"); WHEREAS, the Developer has requested that the City agree to certain amendments to the Master Development Agreement as more particularly set forth herein; NOW, THEREFORE, in consideration of the premises and the mutual obligations of the parties hereto, each of them does hekeby covenant and agree with the others as follows: Section 2.1 (iff) is hereby added to the Master Development Agreement to read as lbllows: (iff) City Town Center District Property means the approxi.mately twenty-nine (29) acres legally described and depicted on Exhibit M attached hereto. Section 2. l(ggg) is hereby added to the Master Development Agreement to read as follows: (ggg) First Amendment. "First Amendment" means the First Amendment to Master Development Agreement by and between the City and the Developer dated as of ,2004. Section 2. i(hhh) is hereby added to the Master Development .Agreement to read as I'bllows: (hhh) Interested Parties. "Interested Parties" means Developer must identify Developer's Lender and any other parties with recorded or unrecorded rights or interests in or to the Development Property. City must obtain title work to confirm recorded interests.] Section 2.1(kk) of the Master Development Agreement is hereby amended to read as ffollows: I t~g4445v2 -321-