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2005 I:06PM No.4629 P, 3/5 <br /> <br />Cio~ of Ramsey <br />dune IR, 2005 <br />Fage 2 <br /> <br />(a) <br /> <br />Oakwood Lots. Oakwood currently owns the Brookfield, Harmony Farms and St. <br />Anthony Gun Club Properties and presently anticipates developing the following <br />number of Lots ("Oakwood Lots"): <br /> <br />Brookfield Property - <br />Gun Club Property - <br />Harmony Farm Property - <br /> <br />258 Lots <br />165 Lots <br />60 Lots <br /> <br />Total Number of Lots - 483 Lots <br /> <br />Please be advised that even though Oakwood is nor requiring approval of the <br />Preliminary Plat for Harmony Farms, Oak:wood is agreeable to including the <br />Harmony Farm Lots as part of the reimbursement calculations. <br /> <br />The current water hook-up fee in the City is $1,862.00 per Lot, mid the current <br />sanitary sewer hook-up fee is $1,10Q,00 per Lot ("trunk fees")~ <br /> <br />As partial reimbursement of the Oakwood Contribution, the City agrees not to <br />collect trunk fees from Oakwood for the Oakwood Lots, which reimbursement <br />totals $1,430,646.00 [$1,862.00 + $1,100.00 x 4'83 Lots].: Said amount shall be <br />considered a prepayment of the water and sewer hook-up fees for the Oakwood <br />Lots.. If Oakwood is unable to develop the full number of Lots as herein set forth, <br />then the reimbursement amount as set forth in thi.s paragraph shall be reduced to <br />the lmmber of Lots that Oakwood actually develops. <br /> <br />(b) <br /> <br />Rowe Property. John Rowe ("Rowe") currently owns 20 acres, and was one of the <br />petitioning pm'ties as set tbrth in the Petition for Feasability Study. The estimated <br />number of Lots on the Rowe Property are 60 Lots ("Rowe Lots"). As an additional <br />partial reimbursement of the Oakwood Contribution, the City agrees not to collect <br />tru~k fees from Rowe tbr the Rowe Lots, which reimbursement totals $177,720.00 <br />[$1,862.00 + $1,100.00 x 60 Lots]. Said amount shall be considered a <br />prepayment of the water and sewer hook-up fees tbr the Rowe Lots. If Rowe is <br />unable to develop the full number of Lots as herein set forth, then flze <br />reimbursement amount as set forth in this paragraph shall be reduced to the number <br />of Lots that Rowe actually develops.. <br /> <br />This additional partial reimbursement is subject to Rowe entering into a binding <br />contractual agreement with Oakwood to pay Oakwood the amount of said partiaI <br />reimbursement of $177,72Q00~ <br /> <br />I;:\g. licnl~'q}l'~.5[}6 - I;1' (?~tt ~ffRaa~cy.w'~d <br /> <br /> <br />