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CITY OF RAMSEY <br />DEVELOPMENT AGREEMENT FOR REGENCY COMMONS ADDITION <br />This Agreement is dated as of this day of , 2017 and is by and between the <br />CITY OF RAMSEY, a Minnesota municipal corporation (the "CITY") and NATIONAL <br />SELF -STORAGE LLC, a Minnesota limited liability company (the "PERMITTEE"). <br />WHEREAS, the PERMITTEE is the owner of land legally described on the attached <br />Exhibit A (the "Subject Property"); and <br />WHEREAS, the PERMITTEE has received approval from the CITY to subdivide the <br />Subject Property and plat the same as REGENCY COMMONS ADDITION (the "Plat"); and <br />WHEREAS, the parties desire to enter into this Agreement as required by the Plat <br />approval. <br />THEREFORE, THE CITY AND THE PERMITTEE AGREE AS FOLLOWS: <br />1. Conditions of Annroval. 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 Sheet <br />prepared by Landform, the Civil Engineering Plans, prepared by Landform and <br />dated January 3, 2017, revised and consisting of <br />sixteen (16) sheets, and Lighting Plan, prepared by Pulse and dated March 29, 2017. <br />The Plans remain subject to: (a) CITY Staff's review and approval of the <br />2017 revisions to, among other things, confirm that the revisions <br />requested in the CITY Staff Review Letter, dated February 24, 2017 and revised <br />August 28, 2017 have been made; and (b) such further revisions as the <br />PERMITTEE may propose and the CITY approves. The Plans shall not be <br />attached to this Agreement, but are in the CITY'S files. <br />The approved Plans provide for a "right in, right out" public access from the Subject <br />Property to Ramsey Boulevard. CITY and PERMITTEE agree and acknowledge <br />