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CITY OF RAMSEY <br />DEVELOPMENT AGREEMENT FOR RUM RIVER PRAIRIE <br />This Agreement (hereinafter the "Agreement") is dated as of this 22'd day of May, 2018 <br />and is by and between the CITY OF RAMSEY, a Minnesota municipal corporation (the <br />"CITY") and Rum River Prairie, LLC, a Limited Liability Company (Domestic), under the <br />laws of State of Minnesota (the "PERMITTEE"). <br />Recitals <br />A. The PERMITTEE is the owner of land legally described on the attached Exhibit A <br />(the "Subject Property"). <br />B. The PERMITTEE received approval from the CITY to subdivide the Subject <br />Property and plat the same as Rum River Prairie (the "Plat"). <br />Agreement <br />1. Recitals. Recitals incorporated. The recitals stated above are hereby incorporated into <br />this Agreement and are made part of this Agreement by reference. <br />2. Conditions of Approval. The CITY has approved the Plat subject to satisfaction of the <br />following conditions subsequent: <br />a. The PERMITTEE' S Execution of this Agreement. That the PERMITTEE <br />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 either <br />through a currently certified abstract, registered property abstract or title <br />insurance commitment or policy. <br />c. Proof of Authority . That the PERMITTEE provide proof that the respective <br />governing boards of the PERMITTEE have authorized the PERMITEE's <br />execution of this Agreement. This proof of authority may be satisfied by <br />providing the CITY with a certified copy of the minutes of the governing <br />board of each entity which grants such authority. <br />3. The Plans. The term "Plans" as used in this Agreement means the Final Plat, prepared <br />by LHB Engineers & Architects. The Plans remain subject to: (a) CITY Staff s review <br />and approval by the CITY's Engineer, and among other things, approval and <br />confirmation that the revisions requested in the CITY Staffs April 17, 2018 review <br />letter have been made; and (b) such further revisions as the PERMITTEE may propose <br />and the CITY approves. The Plans shall not be attached to this Agreement, but are in <br />the CITY'S files. <br />