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CITY OF RAMSEY <br />DEVELOPMENT AGREEMENT FOR ESTATES OF SILVER OAKS 2ND ADDITION <br />This Agreement (hereinafter the "Agreement") is dated as of this day of <br />2017 and is by and between the City of Ramsey, a Minnesota municipal corporation <br />(the "CITY") and Development Consulting Services, LLC, 4791 Stimson Trail, Woodbury, MN <br />55129, (the "DEVELOPER"). <br />WHEREAS, the DEVELOPER is the owner of land legally described on the attached <br />Exhibit A (the "Subject Property"). <br />WHEREAS, the DEVELOPER received approval from the CITY to subdivide the <br />Subject Property and plat the same as PEARSON PLACE (the "Plat"). <br />WHEREAS, the Plat subdivides the Subject Property into Lot 1, Block 1, Lots 1-11, Block <br />2 (Inclusive), Lots 1-2, Block 3 (Inclusive), and Outlots A, B and C PEARSON PLACE, Anoka <br />County, Minnesota. <br />THEREFORE, THE CITY AND THE DEVELOPER AGREE AS FOLLOWS: <br />1. Conditions of Annroval. The CITY approved the Plat subject to satisfaction of the <br />following conditions subsequent: <br />a. The DEVELOPER'S Execution of this Agreement. That the <br />DEVELOPER enter into this Agreement. <br />b. Marketable Title. That prior to recording the Plat, the DEVELOPER 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 />2. The Plans. The term "Plans" as used in this Agreement means the Final Plat and <br />Plans prepared by Otto Associates and Bolton & Menk, both dated September 15, <br />2017, revised . The Plans remain subject to: (a) CITY <br />Staff's review and approval of the revisions to, among other things, confirm that <br />the revisions requested in the CITY Staffs October 20, 2017 review letter have <br />been made; and (b) such further revisions as the DEVELOPER may propose and <br />the CITY approves. The Plans shall not be attached to this Agreement, but are in <br />the CITY'S files. <br />3. Stage I Imnrovements. The improvements, as stated in City Code Section 117-615 <br />(b) (1), the DEVELOPER is required to construct or install are as follows (unless <br />otherwise noted): <br />a. Trunk and lateral sanitary sewer (not required) <br />1 <br />