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GAD' S PRAIRIE <br />PLANNED -UNIT- DEVELOPMENT AGREEMENT <br />CITY OF RAMSEY, ANOKA COUNTY, MINNESOTA <br />THIS AGREEMENT, made and entered into by and between the CITY OF RAMSEY, <br />a municipal corporation under the laws of the State of Minnesota (the "CITY "), and TRI -COR <br />DEVELOPMENT, LLC, a Minnesota corporation, whose address is 13251 Fremont Ave, <br />Zimmerman, MN 55398 ( "DEVELOPER "). <br />WITNESSETH: <br />WHEREAS, the DEVELOPER is the fee owner of the following described property <br />situated in the CITY OF RAMSEY, County of Anoka, State of Minnesota, and legally described <br />as follows: <br />That part of the southwest quarter of the Northwest Quarter of Section 25, Township 32, <br />Range 25, Anoka County, Minnesota described as follows: <br />Commencing at the West Quarter Corner of said Section 25; thence on an assumed <br />bearing of North 90 degrees 00 minutes 00 seconds East, along the south line of the Southwest <br />Quarter of the Northwest of said Section 25, a distance of 829.6 feet to the point of beginning: <br />thence North 40 degrees 49 minutes 30 seconds West a distance of 401.96 feet; thence North 87 <br />degrees 34 minutes 50 seconds East a distance of centerline, a distance of 430.2 feet more or less <br />to said south line of the Southwest Quarter of the Northwest Quarter. Thence westerly, along said <br />south line, a distance of 3 10. 0 feet more or less to the point of beginning. <br />-or upon recording- <br />Lots 1 -7, Block 1, GAD's Prairie <br />(the "Subject Property "); and <br />WHEREAS, on June 26, 2007, pursuant to Resolution No. 07 -06 -_, the CITY <br />approved the final plat of the Subject Property, which plat is known as GAD'S PRAIRIE (the <br />"Plat "), which approval is contingent on certain requirements, including the DEVELOPER and <br />the CITY entering into this Agreement; and <br />GAD's Prairie Addition <br />Development Agreement <br />Page 1 of 11 <br />—174— <br />