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WATER MAIN AND SANITARY SEWER <br />COST CONTRIBUTION AGREEMENT <br /> <br />THIS WATER MAIN AND SANITARY SEWER AGREEMENT (this "Agreement") is <br /> <br />made and entered into effective as of the day of February, 2006, by and between the City of <br /> <br />Ramsey, a Minnesota municipality organized under the laws of the State of Minnesota <br /> <br />(hereinafter referred to as the "City"), and Oakwood Land Development, Inc., a corporation duly <br /> <br />organized and existing under the laws of the State of Minnesota (hereinafter referred to as <br /> <br />"Oakw0od"). <br /> <br />THE PARTIES RECITE AND DECLARE THE FOLLOWING: <br /> <br />The City desires to install (i) a municipal water main extension for the Northwest and <br />Northeast Service Area, and (ii) a municipal sanitary sewer extension for the Northwest <br />Service Area, as set forth in those certain Feasibility Studies (the "Feasibility Studies") <br />for the Northwest and Northeast Sanitary Sewer and Water Main Extension dated the 9th <br />day of March, 2004 (hereinafter referred to as the "Project"); and <br /> <br />The municipal water main extension for the Northwest and Northeast Service Area, and <br />the municipal sanitary sewer exter~sion for the Northwest Service Area are shown on the <br />map attached hereto as Exhibit A; and <br /> <br />It is presently anticipated that the cost of the installation of the hereinabove described <br />municipal water main extension and municipal sanitary sewer extension as identified on <br />page _ of Feasibility Studies will be Ten Million and 00/100ths Dollars <br />($I0,000,000.00) and if the cost exceeds $10,000,00000 the City, may not want to <br />proceed with the Project; and <br /> <br />Do <br /> <br />Oakwo0d currently oWns certain real property lying and located in the City of Ramsey, <br />County of Anoka, State of Minnesota, which properties are commonly referred to as the <br />Brookfield, Harmony Farms and St. Anthony Gun Club Properties, which properties are <br />more particularly described in Exhibit B attached hereto (hereinafter collectively referred <br />to as the "Oakwood Properties"); and <br /> <br />Eo <br /> <br />The Oakwood Properties will be benefited by the extension of the municipal water main <br />and municipal sanitary sewer; and <br /> <br />-260- <br /> <br /> <br />