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CITY OF RAMSEY <br /> DEVELOPMENT AGREEMENT FOR RIVERSTONE SOUTH FIFTH ADDITION <br /> This Agreement(hereinafter the "Agreement") is dated as of this loth day of September, 2024 and <br /> is by and between the CITY OF RAMSEY, a Minnesota municipal corporation(the "CITY") and <br /> RIVERSTONE DEVELOPMENT,LLC, a Minnesota Limited Liability Company under the laws of <br /> Minnesota(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 <br /> Subject Property and plat the same as RIVERSTONE SOUTH FIFTH ADDITION (the <br /> "Plat"). <br /> C. The Plat re-subdivides the Subject Property into: <br /> Lots 1-10, Block l(inclusive); and <br /> Lots 1-15, Block 2 (inclusive); and <br /> Lots 1-14, Block 3 (inclusive); and <br /> Lots 1-8, Block 4 (inclusive), <br /> Riverstone South Fifth Addition,Anoka County, Minnesota. <br /> Agreement <br /> 1. Recitals. Recitals incorporated. The recitals stated above are hereby incorporated <br /> into this 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 <br /> following conditions subsequent: <br /> 1 <br />