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<br />1919544v3 <br /> <br />-278- <br /> <br />5.9 <br /> <br />County Road 116 and the City will levy special assessments pursuant to <br />Minn. Stat. Ch. 429 . and the City's Charter to finance the work. The <br />Development Agreement will obligate the Developer to accept, without <br />objection or appeal, special assessments in an amount equal to 50% of the <br />cost of the City's construction of County Road 116. In the Development <br />Agreement the City will agree that the assessments the City levies to <br />finance the construction of County Road 116 will be payable over a 20 <br />year term. <br /> <br />. <br /> <br />Onsite Improvements. The Development Agreement will obligate Muir to <br />dedicate to the City, at no cost to the City, all public rights of way and <br />easements and, subject to the provisions of this Section 5.9 to construct, at <br />Muir's sole cost and expense, all public improvements within the <br />Development Property that are necessary for the development and use of <br />the Development Property pursuant to the Development Agreement and <br />the zoning and subdivision approvals granted in connection therewith; <br />provided, however, that the City and Muir may, in the Development <br />Agreement, agree that certain ansite,. public improvements will be <br />constructed by the City and financed through special assessments all <br />pursuant to Minnesota Statutes, Chapter 429. The Development <br />Agreement will obligate the City to apply to the Minnesota Department of <br />Transportation for a loan against future state aid grants to finance, in part, <br />the construction of a publicly dedicated internal access road. If the City is <br />successful in obtaining the loan and Muir elects to have the City construct <br />the internal access road and specially assess the Development Property for <br />the cost of the internal access road, the City will apply the loan proceeds <br />toward the cost of constructing the improvements thereby reducing the <br />amount of the special assessments levied against the Development <br />Property for such improvements. In the Development Agreement, the City <br />will agree to vacate existing public streets, alleys and other rights-of-way <br />upon the recording of the new plat of the Development Property. The <br />Development Agreement will obligate Muir to construct a publicly <br />dedicated street extending from the main access drive south of the home <br />improvement parcel to the west property line of the Development <br />Property. The right of way dedication for this street shall be 58 feet and <br />the street itself shall be 38 feet wide back curb to back curb. A zero lot <br />line set back from this street shall apply along the entire length of this <br />street. The Development Agreement will obligate Muir to construct all <br />necessary storm water retention and detention ponds for handling on-site <br />storm water and will obligate the Developer to subject all or a portion of <br />the Development Property reasonably acceptable to the City to covenants <br />and restrictions for the maintenance of the storm water retention and <br />detention facilities. The Development Agreement will give the City the <br />right to require Muir to oversize storm water, sanitary sewer and water <br />facilities (exclusive ofponding facilities) if the City desires such <br />oversizing to provide capacity to serve other property; provided the <br /> <br />. <br /> <br />. <br /> <br />5 <br />