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CITY OF RAMSEY <br /> DEVELOPMENT AGREEMENT FOR HARMONY FARMS 2ND ADDITION <br /> This Agreement (hereinafter the "Agreement") is dated as of this 14th day of May, 2024 and is by <br /> and between the CITY OF RAMSEY, a Minnesota municipal corporation(the "CITY") and U.S. Home, <br /> LLC, a Delaware limited liability company under the laws of the state of Delaware(the"'PERMITTEE"). <br /> Recitals <br /> A. The PERMITTEE is the owner of land legally described on the attached Exhibit <br /> A(the"Subject Property"). <br /> B. The PERMITTEE has received approval from the CITY to subdivide the Subject <br /> Property and plat the same as Harmony Farms 2nd Addition (the"Plat"). <br /> Agreement <br /> 1. Recitals Incorporated. The recitals stated above are hereby incorporated into this <br /> Agreement and are made part of this Agreement by reference. <br /> 2. Conditions of Approval. The CITY has approved the Plat subject to satisfaction of the following <br /> conditions subsequent: <br /> a. The PERMITTEE'S Execution of this Agreement. That the PERMITTEE enter <br /> into this Agreement. <br /> b. Marketable Title. That prior to recording the Plat,the PERMITTEE shall provide <br /> the CITY with proof of marketable title to the Subject Property either through a <br /> currently certified abstract, registered property abstract or title insurance <br /> commitment or policy. <br /> C. Proof of Authority. That the PERMITTEE provide proof that the respective <br /> governing boards of the PERMITTEE have authorized the PERMITTEE'S <br /> execution of this Agreement. This proof of authority may be satisfied by providing <br /> 1 <br />