Agenda - Council - 02/22/2005 - Laserfiche WebLink

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13. 14. 15. or the Secondary Development Agreement for that Phase. In connection with the Development of a Phase, the City may require the Developer or Secondary DeV~eloper, as the case may be, to oversize Public ImproVements or ~otherwise .modify the design of Public Improvements as reasonably neceSSary to serve Other properties. If the City determines that the Development-ora phaSe:requires the construction of public water, sanitary sewer or storm ~ater improvements which will benefit both property within the phase and, other property, the City has no obligation to provide the Deve~loper or'.the Secondary Developer who constructs the water, sanitary sewer or stbrm Water improvements with a credit to reflect the benefit to other property reSUlting from such improvements. Section 4.4(a) Of the Master AgreZ*ment is hereby amended by replacing the reference to the "Phase I Parking Ramp" therein with. a reference to the "Parking Improvements." Section 4.11 of the Master Agreement is hereby amended by deleting therefrom the following langUage: For a period of 90 days fdllowing the Council's approval .of this Master Agreement, the CitY and the Developer will attempt to agree on a Parkland and Trail Plan which definasanY additional land which the Developer will convey or dedicat~e to the City for park purposes and sets forth the timing and terms and conditions of any such conveyance or dedication; describes, in detail~ the imPrOvements which the Developer is obligated to make to the Parkland and to .any o~her !and the Developer agrees to convey or dedicate to the City for P,ark purposes (the "Parkland Improvements"); establishes a schedule for ~e Developer's commencement and completion of the parkland ImprOvemqnts; describes the security, if any, which the Developer must provide to the City to secure the Developer's performance of its obligation to. construct the Parkland Improvements; and defines the timing of the Developer's obligatiOn to deliver such security, if any, to the City. .. In consideration for the City's Agreement to delete Section 4.18 from the Master Agreement pursuant to SeCtion 16 below, the Developer hereby agrees to amend Section 4.12 by adding the following langUage at :the end thereof: In addition, the DeVeloper:agrees !to pay the City the sum of Two Million Dollars ($2,000,000.00) (the "Park Payment Obligation") to assist the City in constructing the enhanced level ofpublic park improvements contemplated on portions of Outlots Q and Outlot R, 'RAMSEY TOWN CENTER ADDITION, Anoka County, Minnesota, From.and after the date of this First Amendment, each time the Developer sells or otherwise conveys a portion of the Unsold Subject Propertycthe Developer must pay :to the City, for application to the Park Payment Obligation: 1710652v6 4