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ORH3INAL <br />111111111111011111111111111111111 <br />Record ID 3e0e424 <br />CITY OF RAMSEY <br />DEVELOPMENT AGREEMENT FOR COR PARKVIEW ADDITION <br />This Agreement (hereinafter the "Agreement") is dated as of this 2-2- day of <br />...- l • , 2015 and is by and between the CITY OF RAMSEY, a Minnesota municipal <br />corporation (the "CITY") and PSD, LLC, 7533 Sunwood Dr NW, Suite 315, Ramsey, MN <br />55303, a Minnesota domestic limited liability company (the "PERMITTEE"). <br />WHEREAS, the PERMITTEE is the owner of land legally described on the attached <br />Exhibit A (the "Subject Property"); and <br />WHEREAS, the PERMITTEE has received approval from the CITY to subdivide the <br />Subject Property and plat the same as COR PARKVIEW ADDITION (the "Plat"); and <br />WHEREAS, the Plat re -subdivides the Subject Property into Lot 1, Block 1, and Outlot <br />A, COR PARKVIEW ADDITION, Anoka County, Minnesota. <br />THEREFORE, THE CITY AND THE PERMITTEE AGREE AS FOLLOWS: <br />1. 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 />either through a currently certified abstract, registered property abstract or <br />title insurance commitment or policy. <br />c. Proof of Authority. That the PERMITTEE provide proof that the <br />respective governing boards of the PERMITTEE have authorized the <br />PERMITTEE'S execution of this Agreement. This proof of authority may <br />be satisfied by providing the CITY with a certified copy of the minutes of <br />the governing board of each entity which grants such authority. <br />2. The Plans. The term "Plans" as used in this Agreement means the Final Plat Plans <br />prepared.by Bolton and Menk, dated. July 15, 2015. The Plans remain subject to: <br />(a) CITY Staffs review and approval of the Plans, among other things, confirm <br />that the revisions requested in the CITY review letter have been made; and (b) such <br />further revisions as the PERMITTEE may propose and the CITY approves. The <br />Plans shall not be attached to this Agreement, but are in the CITY'S files. <br />3. Stage 1 Improvements. The improvements the PERMITTEE will construct or <br />install are as follows: <br />a. Trunk and lateral sanitary sewer. <br />b. Trunk and lateral water main. <br />2121425.002 <br />