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CITY OF RAMSEY <br /> DEVELOPMENT CONTRACT <br />FOR RAMSEY TOWN CENTER 7TIt ADDITION <br /> SYMPHONY AT TOWN CENTER <br /> <br /> CONTRACT dated this day of , 2005, by and between the <br />CITY OF RAMSEY, a , Minnesota municipal corporation (the "CITY") and RAMsEY <br />TOWN CENTER, LLC, a Minnesota limited liability company and K. HOVANIAN T&C <br />HOMES AT MINESOTA, LLC, a Minnesota limited 'liability company, (the <br />"DEVELOPERS"). <br /> <br /> I. Request for Plat Approval. The DEVELOPERS have asked the CITY to <br />approve a Plat for RAMSEY TOWN CENTER 7th ADDITION (also' referred to in this Contract <br />as the "Plat"). The land is legally described as: <br /> <br />Outlot U, Ramsey Town Center Addition, according to the recorded plat thereof, <br />Anoka County, Minnesota <br /> <br />And <br /> <br />All that part of Outlot B, Ramsey Town Center 2"d Addition, according to the <br />recorded plat thereof, described as follows: <br /> <br />Beginning at the northwest comer of said Outlot B; thence on an assumed bearing of <br />south 89 degrees 42 minutes 54 seconds east along the northerly line of said Outlot <br />B, for 607.10 feet; thence on a bearing of south for 247.47 feet to a souttierly line of <br />said Outlot B; thence on a bearing of west along said southerly line and its westerly <br />extension for 616.21 feet to the westerly line of said Outtot B; thence north 07. <br />degrees 21 minutes 03 seconds east, along said westerly line for 4.51 feet'to a point <br />of curvature in said westerly line; thence northerly for 133.43 feet, along said <br />westerly line, along a tangential curve concave to the west, radius 1040.00 feet and <br />central angle 07 degrees 21 minutes 03 seconds, to a point of tangency in said <br />westerly line; thence on a bearing of north, along said westerly line for 112.96 feet to ' <br />the point of beginning. <br /> <br />(the "Subject Property") <br /> <br />Ramsey Town Center 7th Addition <br />Development Contract <br /> Page 1 of 16 Pages <br /> <br />-193- <br /> <br /> <br />