Agenda - Council - 09/24/2019 - Laserfiche WebLink

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CITY OF RAMSEY DEVELOPMENT AGREEMENT FOR SUITE LIVING This Agreement (hereinafter the "Agreement") is dated as of this 24th day of September, 2019 and is by and between the CITY OF RAMSEY, a Minnesota municipal corporation (the "CITY") and Hampton Companies, LLC ("DEVELOPER"). WHEREAS, the DEVELOPER is the fee owner of the following described property situated in the City of Ramsey, County of Anoka, State of Minnesota, and legally described as follows: Outlot A, Rivenwick Village Or upon Platting Lot 1, Block 1, Rivenwick Village 3' Addition (the "Subject Property"); and WHEREAS, on July 10, 2019, pursuant to Resolution #19-151, the CITY approved the final plat for the Subject Property, which plat is known as RIVENWICK VILLAGE 3RD ADDITION (the "Plat"), which approval is contingent on certain requirements, including the DEVELOPER and the CITY entering into this Agreement. WHEREAS, on July 23, 2019, pursuant to Resolution #19-154, the CITY approved the Site Plan for Suite Living, which approval is contingent on certain requirements, including the DEVELOPER and the CITY entering into this Agreement. THEREFORE, in consideration of the mutual promises set forth below, the CITY and the DEVELOPER agree as follows: 1. Conditions of Annroval. The CITY has approved the Plat subject to satisfaction of the following conditions subsequent: a. Develonment Agreement. That the DEVELOPER enter into this Agreement. b. Marketable Title. That the DEVELOPER shall provide the CITY with proof of marketable title to the Subject Property either through a currently certified abstract, registered property abstract or title insurance commitment or policy. c. Proof of Authority. That the DEVELOPER provide proof that the respective governing boards of the DEVELOPER have authorized the DEVELOPER'S execution of this Agreement. This proof of authority may be satisfied by providing the CITY with a certified copy of the minutes of the governing board of each entity which grants such authority.