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CITY OF RAMSEY <br /> DEVELOPMENT AGREEMENT FOR VISTAS AT NORTH COMMONS <br /> This Agreement(hereinafter the "Agreement")is dated as of this day of , 2017 <br /> and is by and between the CITY OF RAMSEY, a Minnesota municipal corporation (the <br /> "CITY") and MORNING SUN HOMES,INC., a Minnesota Corporation (the <br /> "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 VISTAS AT NORTH COMMONS (the "Plat"). <br /> WHEREAS, the Plat re-subdivides the Subject Property into Lots 1-12, Block 1 <br /> (inclusive), Anoka County, Minnesota. <br /> THEREFORE, THE CITY AND THE PERMITTEE AGREE AS FOLLOWS: <br /> 1. Conditions of Approval. 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. 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 /> C. 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 /> 2. The Plans. The term "Plans" as used in this Agreement means the Final Plat Plans <br /> prepared by Westwood Professional Services, dated March 22, 2017. The Plans <br /> remain subject to: (a) CITY Staff's review and approval of the Plans to, among <br /> other things, confirm that the revisions requested in the CITY Staff's review letter <br /> have been made; and (b) such further revisions as the PERMITTEE may propose <br /> and the CITY approves. The Plans shall not be attached to this Agreement,but are <br /> in the CITY'S files. <br /> 3. Stage I Improvements. The improvements the PERMITTEE will construct or <br /> install are as follows: <br /> 1 <br />