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<br />PROK>SID DEVELOPMENr ~'T <br /> <br />CITY OF RAMSEY <br />ANCI\A CXXJNl'Y, MINNESOI'A <br /> <br />'mE NCRm FORIY <br /> <br />Development agreement by and between the City of Ramsey, Minnesota (City) <br />and Richard J. Sybrant, president of R.J.S. Builders Inc. <br /> <br />v.'1J:TNESSE'm : <br /> <br />WHEREAS, the Developer is the ""mer of certain real property situated <br />in Anoka County, Minnesota, located in the City of Ramsey, the legal <br />description of which property is as follows: <br /> <br />Tne Northwest Quarter of the Northwest Quarter of Section 16, TCMnship <br />32, Range 25, Anoka County, Minnesota. <br /> <br />hereinafter "subject property"; and <br /> <br />h"HEREhS, the City has approvee the plat of the subject property v,'hich <br />is known as THE NORlH FORTY and is hereinafter referred to as "the plat" <br />contingent upon the Developer and City entering into this Development <br />Agreement; and <br /> <br />~, the Developer desires to effect the recording of the plat <br />with the Anoka County Recorder, upon the execution and approval thereof by <br />the City. <br /> <br />ro;r 'mEREFORE, in consideration of the mutual covenants and promises <br />contained herein, it is agreed as follOn's: <br /> <br />1. IMPROVEMEh'TS.. The Developer shall be responsible for the <br />construction of improvements as shown on the final plat and as <br />directed by the City Engineer, in accordance with City standards <br />and specifications. These improvements shall incluoe, but are not <br />Ibnited to the cor.struction of Alpaca and Chameleon Streets N. W. <br />and l63~d Lane N.W. including bituminous surfacing and related <br />ditches, grading, backsloping and drainage. The Developer shall <br />be responsible for any expense associated with the cor.struction of <br />these imDrovanents. The DeveloDer shall restore all disturbed <br />areas as specified by the City Engineer. The location and <br />specifications for the improvements shall be as shown on the <br />attachee plans, which plans are attached hereto as Exhibit "A". <br /> <br />2. FI1iZW2IAL GUARA:NTEE. The Developer shall proviae a financial <br />guarantee for the construction of these improvements. This <br />guarantee shall be in the form of cash or City approved letter of <br /> <br />Page 1 of 3 <br /> <br />12.,7 <br />