Agenda - Council Work Session - 02/15/2005

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29. 30. Improvements described on Exhibit R on or before June 1, 2005, and the City will commence the construction of the balance of the City Phase II Roadway h'nprovements in one or more subphases. Within sixty (60) days after the Developer or a successor or assignee of the Developer :records or files a Final Plat for a Phase, the City .will commence construct/on of the 'City Phase II Roadway Improvements, if any, necessary for the development of that Phase. Notwithstanding anything to the contrary herein, before the City is obligated to commence constn.tction of the City Phase II Roadway h'nprovements, the Developer must dedicate the 100 foot wide rights of way for the City Phase II Roadway Improvements located north of Bunker Lake Road. Subject to Force Majeure, the City must substantially complete construction of each subphase of the City Phase II Roadway Improvements within days of the date the City conwnences that subphase'of City Phase II Roadway Improvements pursuant to this Section 7.9; provided, however, if the commencement date for such phase of the City Phase II Roadway Improvements established pursuant to this Section 7.9 occurs on or after · November 1 of any year, the City has until dune I of the following year to complete that subphase of the City Phase II Roadway Improvements, (the "City Phase I1 Roadway Improvements Substantial Completion Date"). The City must install the final lift for each subphase of the City Phase II Roadway Improvements within 6 months following the City Phase LI Roadway h'nprovements Substantial Completion Date for that subphase; provided, however, if the City Phase II Roadway Improvements Substantial Completion Date for a subphase on or after November first of any year, the City is not obligated to install the final lift for that subphase of the City Phase II Roadway Improvements until June first of the following calendar year. Upon completion of the City's Phase II Roadway Improvements, the City Phase II Roadway Improvements will constitute public streets and will be maintained by the City as public streets. Subsequent to Section 32, Section 7.11 of the Master Development Agreement is hereby deleted in its entirety and replaced with the following: INTENTIONALLY OMITTED. Subject to Section 32, Section 7.12 of the Master Development A~'eement is 'hereby amended to read as follows: 7.12 ASSESSMENT AGREEMENT FOR CITY PHASE ii ROADWAY LMPROVEMENTS. Minnesota Statutes, Chapter 429, the City's Charter and the City's Ordinances authorize the City to assess all or a portion of the cost of the City Phase II Roadway hnprovements ~igainst the property the City Phase II Roadway Improvements benefit. The City, the Developer and the Interested Parties hereby agree the City Phase ii Roadway Improvements will benefit the Unsold Subject Property. The City will promptly commence and diligently pursue the actions necessary to specially assess $465,200.00 of the cost of the City Phase II Roadway 1710t~52v2 1 0