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CITY OF RAMSEY <br />DEVELOPMENT AGREEMENT FOR PEARSON PLACE 2ND ADDITION <br />This Agreement (hereinafter the "Agreement") is dated as of this 24th day of September, 2024, <br />and is by and between the CITY OF RAMSEY, a Minnesota municipal corporation (the "CITY") and <br />Development Consulting Services, LLC, a Minnesota Limited Liability Company under the laws of <br />Minnesota (the "PERMITTEE"). <br />Recitals <br />A. That the PERMITTEE is not the owner of land legally described on the attached <br />Exhibit A (the "Subject Property") but rather is representing the interests of the landowners, <br />Elizabeth J. Pearson Trust and Alan R Pearson Trust (the "Landowners"). <br />B. The PERMITTEE has received approval from the CITY to subdivide the <br />Subject Property and plat the same as PEARSON PLACE 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 <br />following conditions subsequent: <br />a. The PERMITTEE' S Execution of this Agreement. That the PERMITTEE <br />enters 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 />1 <br />