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CITY OF RAMSEY <br />DEVELOPMENT AGREEMENT FOR RIVERSTONE SOUTH <br />This Agreement (hereinafter the "Agreement") is dated as of this 2,5 `4`day of tOat., 2022, and is <br />by and between the CITY OF RAMSEY, a Minnesota municipal corporation (the "CITY') and <br />RIVERSTONE DEVELOPMENT, LLC., a Minnesota Corporation (the "PERMITTEE"). <br />Recitals <br />A. PERMITTEE is the owner of land legally described on the attached Exhibit A (the "Subject <br />Property"). <br />B. PERMITTEE has received approval from the CITY to subdivide the Subject Property and plat <br />the same as RIVERSTONE SOUTH (the "Plat"). <br />C. The Plat re -subdivides the Subject Property into: <br />Lot 1, Block 1; and <br />Lots 1-3, Block 2 (inclusive); and <br />Lots 1-11, Block 3 (inclusive); and <br />Lots 1-4, Block 4 (inclusive); and <br />Lots 1-6, Block 5 (inclusive); and <br />Lots 1-6, Block 6 (inclusive); and <br />Lots 1-21, Block 7 (inclusive); and <br />Lots 1-10, Block 8 (inclusive); and <br />Lots 1-15, Block 9 (inclusive); and <br />Lots 1-6, Block 10 (inclusive); and <br />Outlots A-O (inclusive), Anoka County, Minnesota. <br />Agreement <br />1. Recitals Incorporated. The recitals stated above are hereby incorporated into this Agreement and <br />are made part of this Agreement by reference. <br />1 <br />