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TAKE 5 OIL CHANGE <br /> DEVELOPMENT AGREEMENT <br /> CITY OF RAMSEY,ANOKA COUNTY,MINNESOTA <br /> This Agreement(hereinafter the"Agreement") is dated as of this 12' day of August, 2024, and is <br /> by and between the City of Ramsey, a Minnesota municipal corporation(the "CITY") and T5 RAMSEY <br /> LLC, a limited liability corporation under the laws of Minnesota, (the "PERMITTEE"). <br /> Recitals <br /> A. The PERMITTEE is the fee title owner of land generally known as 7990 Sunwood Drive <br /> Northwest, Ramsey, MN 55303 and legally described as: <br /> Lots 1 and 2,Block 1, GH Ramsey, Anoka County, Minnesota. <br /> (the"Subject Property") <br /> B. That on February 26, 2024, the City Council adopted Resolution #24-061, approving a Purchase <br /> Agreement and Right of Re-Entry Agreement for the Subject Property, and that the City Council <br /> staff report documented a$125,000 discount from the purchase price for the Subject Property,to <br /> be used for constructing an off-site parking lot. <br /> C. That on February 27,2024,the Purchase Agreement and Right of Re-Entry Agreement were signed <br /> and executed. <br /> D. That on May 13, 2024, the CITY received a Land Use Application from DSGW Architects (the <br /> "Applicant"), on behalf of the PERMITTEE, requesting a Site Plan Review and Final Plat, as <br /> part of a proposal to construct a commercial building to operate on the Subject Property, and <br /> associated site improvements (cumulatively,the "New Building"). <br /> E. That on July 9, 2024, the City Council approved the Conditional Use Permit and Site Plan, and <br /> approved vacating part of a drainage and utility easement, for the proposed New Building. <br /> F. That on August 12,2024,the City Council approved the Final Plat for the proposed New Building. <br /> Take 5 Oil Change <br /> Development Agreement <br /> Page 1 of 8 <br />