Agenda - Council - 11/09/2004 - Laserfiche WebLink

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PARKLAND AND TRAIL PLAN AGREEMENT FOR RAMSEY TOWN CENTER THIS PARKLAND AND TRAIL PLAN AGREEMENT FOR RAMSEY TOWN CENTER (thethis "Agreement") is made, entered into and effective as of the day of 2004, by and between the CITY OF RAMSEY, a Minnesota municipal corporation and a home rule charter city (the "City") and RAMSEY TOWN CENTER LLC, a Minnesota limited liability company (the "Developer"). ARTICLE 1 RECITALS AND GUIDING PRINCIPLES 1.1 The City and the Developer have entered into that certain Master Development Agreement for Ramsey Town Center dated as of September ,17, 2003, and recorded in the office of the Anoka County Recorder on ,September 24, 2003, as Document No. (the "Master Agreement") pursuant to which the Developer will develop certain property located in the City of Ramsey and defined in the Master Agreement as the "Subject Property." 1.2 The City and the Developer are executing this Parkland and Trail Plan Agreement as contemplated in and pursuant to Section 4.11 of the Master Agreement. As set forth in Section 4.11 of the Master Agreement, the purposes of this Parkland and Trail Plan Agreement include, without limitation, defining the land which the Developer will convey or dedicate to the City for park purposes; setting forth the timing and terms and conditions of such conveyances or dedications; describing, in detail, the improvements which the Developer is obligated to make to the land the Developer agrees to convey or dedicate to the City for park purposes (the "Parkland Improvements"); establishing a schedule for the Developer's commencement and completion of the Parkland Improvements; describing the security which the Developer must provide to the City to secure the Developer's performance of its obligation to construct the Parkland Improvements; and defining the timing of the Developer's obligation to deliver such security to the City. ARTICLE 2 DEFINITIONS 2.1 DEFINITIONS. Except as otherwise expressly defined herein, all capitalized terms used herein shall have the meanings given such terms in the Master Agreement. When used in this Agreement, the following terms shall have the meanings specified in this Article 2. Each definition or pronoun herein shall be deemed to refer to the singular, plural, masculine, feminine or neuter as the context requires. Words such as "herein," "hereinafter," "hereof," "hereto" and "hereunder," when used in reference to this Agreement, refer to this Agreement as a whole, unless the context requires otherwise: (a) Parkland. "Parkland" means the portions of the Subject Property the Developer is obligated to convey to the City or dedicate to the public as public parks. The 163931 M