Agenda - Council - 10/26/2004 - 10/26/04

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footings and foundation permit for the grocery store will be released to the DEVELOPER prior to the Plat being recorded provided the remaining requirements of this paragraph are met. The CITY reserves the right to suspend all building activities upon the CITY being notified by an outside agency that the appropriate permit(s) was not obtained from the applicable agency. No occupancy permit shall be issued until: (a) vehicular access to the lot is provided including the installation of at least one layer of bituminous surfacing within the parking lot and maneuvering areas; (b) all utilities are in place, operational and accepted by the CITY; (c) the Required Improvements have been accepted by the CITY; (d) the required financial sureties are received by the CITY. 20. Parkland and Trail Dedication. The Subject Property is located in the Greenland Hills District. Per the Master Development Agreement, the CITY and the DEVELOPER have negoitated a Park and Trail Dedication Agreement. In accordance with the Park and Trail Dedication Agreement, there are no park dedication or trail development fees owed on this Ramsey Town Center 3rd Addition. The CITY will not release the mylars for recording until the Park and 'Frail Dedication Agreement is executed. If the Park and Trail Dedication Agreement is not executed, the CITY may release the mylars for recording if the CITY receives a cash escrow for Park Dedication fees in the amount of Forty One Thousand Three Hundred Eight Two Dollars and no cents ($41,382.00) (9.5 acres x $4,356.00 per acre) and Trail Development Fees in the amount of Ten Thousand Three Hundred Fifty Five Dollars and no cents ($10,355.00) (9.5 acress x $1,090.00 per acre). This escrow will be released by the CITY once the Park and Trail Development Agreement is executed. 21. Streetscape Construction. The DEVELOPER shall construct the Streetscape improvements in accordance with Ramsey Town Center 3rd Addition-Final Plat and Engineering- Commercial Development Phase I- Dated September 27, 2004. The costs associated with sidewalk construction are not eligible as a credit towards the Trail Development Fees and/or Park Dedication requirements due on the Plat. 22. Notices. Required notices to the DEVELOPER shall be in writing, and shall be either hand delivered to the DEVELOPER, its employees or agents, or mailed to the DEVELOPER by certified or registered mail at the following address: Ramsey Town Center, LLC 4200 Central Avenue N.E. Minneapolis, MN 55421 Notices to the CITY shall be in writing and shall be either hand delivered to the CITY Administrator, or mailed to the CITY by certified mail or registered mail in care of the CITY Administrator at the following address: CITY Administrator CITY of Ramsey 15153 Nowthen Boulevard NW Ramey, Minnesota 55303 Ramsey Town Center 3rd Addition Development Contract Page 9 of 10 Pages