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CITY OF RAMSEY <br />DEVELOPMENT AGREEMENT FOR RIVERSTONE 4th ADDITION <br />This Agreement (hereinafter the "Agreement") is dated as of this day of <br />, 2020 and is by and between the CITY OF RAMSEY, a Minnesota municipal <br />corporation (the "CITY") and RIVERSTONE DEVELOPMENT, LLC., a Minnesota <br />Corporation (the "PERMITTEE"). <br />Recitals <br />A. The PERMITTEE is the owner of land legally described on the attached <br />Exhibit A (the "Subject Property"). <br />B. The PERMITTEE has received approval from the CITY to subdivide the <br />Subject Property and plat the same as RIVERSTONE 4th ADDITION (the "Plat"). <br />Agreement <br />1. Recitals. Recitals incorporated. The recitals stated above are hereby incorporated <br />into 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 <br />of the following conditions subsequent: <br />a. The PERMITTEE'S Execution of this Agreement. That the <br />PERMITTEE enter into this Agreement. <br />b. Marketable Title. That prior to recording the Plat, the PERMITTEE shall <br />provide the CITY with proof of marketable title to the Subject Property <br />1 <br />