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the Northeast Quarter of the southeast Quarter of Section 14, Township 32 North, Range <br />25 west, shown as Parcel 8A on Minnesota Department of Transportation Right of Way <br />Plat Numbered 02-17 as the same is on file and of record in the office of the County <br />Recorder in and for Anoka County, Minnesota. <br /> <br />-or upon recording- <br /> <br />l.ots 1-34, Block 1, Lots 1-30, Block 2, Lots 1-15, Block 3, Lots 1-12, Block 4, and Outlot A, <br />MARIGOLD POND, Anoka County, Minnesota <br /> <br />(the "Subject Property"); and <br /> <br /> WiIEREAS, on July 26, 2005 pursuant to Resolution No. 05-07- , the CITY approved the <br />t'inal plat of the Subject Property, which plat is known as MARIGOLD POND (the "Plat"), which <br />approwtl is contingent on certain requirements, including the DEVELOPER and the CITY entering <br />into this Agreement; and <br /> <br /> WIIEREAS, the final plat for the Subject Property conforms to the preliminary plat for <br />Marigold Pond; and <br /> <br /> WIIEREAS, the DEVELOPER is awaiting approval from the Metropolitan Council of the <br />request tbr Comprehensive Plan Amendment to change the Subject Property's land use designation in <br />the City's Comprehensive Plan from Rural Developing to Low Density Residential; and <br /> <br /> WHEREAS, the CITY requires certain improvements to be constructed within the Plat, which <br />improvements are defined as Stage I and Stage II Improvements in the City Code; and <br /> <br /> WItEREAS, the DEVELOPER intends to cause its required improvements in the Plat to be <br />constructed with financial participation by the CITY; and <br /> <br /> WHEREAS, the DEVELOPER desires to construct the Stage I and Stage II improvements, <br />except for those Stage II Improvements constructed by the CITY; and <br /> <br /> WItEREAS, no expenditure of CITY funds will be made until the relevant City Code escrow <br />requirements have been completed by the DEVELOPER. <br /> <br />NOW, THEREFORE, the CITY and DEVELOPER agree as follows: <br /> <br /> SECTION I <br />STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />City Code Compliance. The CITY approves the Plat conditioned on the DEVELOPER <br />developing the Plat in accordance with the applicable provisions of City Code, Section 9.50, <br />cnlitlcd Subdivision. <br /> Marigold Pond Subdivision <br /> Depelopment Agreement <br /> Page 3 of 12 <br /> <br /> <br />