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CITY OF RAMSEY <br />DEVELOPMENT AGREEMENT FOR WOODLANDS 4th Addition <br />This Agreement (hereinafter the "Agreement") is dated as of this 9th day of May, 2017 <br />and is by and between the CITY OF RAMSEY, a Minnesota municipal corporation (the <br />"CITY") and U.S. HOME CORPORATION, dba LENNAR, a Delaware 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 WOODLANDS 4TH ADDITION (the "Plat"). <br />WHEREAS, the Plat re -subdivides the Subject Property into Lots 1-2, Block 1, Lots 1- <br />10, Block 2 (inclusive), Lots 1-15, Block 3 (inclusive), WOODLANDS 4TH ADDITION, Anoka <br />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 James R. Hill, Inc. dated May 3, 2017. The Plans remain subject to: <br />(a) CITY Staffs review and approval of the Plans to, among other things, confirm <br />that the revisions requested in the CITY Staffs review letter have been made; and <br />(b) such further revisions as the PERMITTEE may propose and the CITY <br />approves. The Plans shall not be attached to this Agreement, but are in the CITY' S <br />files. The Plan set includes the following sheets. <br />1.10: Title Sheet <br />