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COR THREE NORTH <br />AMENDMENT No. 1 <br />TO <br />DEVELOPMENT AGREEMENT <br />This Amendment is to the Development Agreement between the City of Ramsey <br />and Purmort Homes, Inc. dated , 2016. <br />Recitals <br />1. The City and Purmort Homes entered into a Development Agreement to <br />govern construction of the North Commons housing development. <br />2. Sidewalk construction is Stage I Improvement under the Agreement, and is the <br />obligation of Purmort Homes. <br />3. Purmort Homes wishes to delay completion of the sidewalks due to conflicts <br />with water and sanitary sewer connection. <br />Agreement <br />In consideration of the mutual promises set forth below, the parties agree as <br />follows: <br />1. The above recitals are incorporated into this Amendment. <br />2. Paragraph 9 of the Agreement is amended as follows: <br />a. The PERMITTEE shall complete sidewalks for Lots 1-4 (inclusive) and <br />Lots 11-14 (inclusive) by October 31, 2017, as shown on the Plans. <br />b. The PERMITTEE shall complete sidewalks for Lots 5-10 (inclusive) by <br />October 31, 2018, as shown on the Plans. <br />c. With the exception of Paragraph 2a and 2b above, the PERMITTEE shall <br />complete all other Stage I and Stage II Improvements including, but not <br />limited to grading, by October 31, 2017. <br />3. The terms and conditions of the Development Agreement remain in effect <br />except to the extent modified by this Amendment No. 1. To the extent there is <br />a conflict between this Amendment and the Development Agreement, this <br />Amendment shall control. <br />