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<br />REGENCY POND 4TH ADDITION <br />DEVELOPMENT AGREEMENT <br />CITY OF RAMSEY, ANOKA COUNTY, MINNESOTA <br /> <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 TSM <br />DEVELOPMENT, INC., a Minnesota corporation, whose address is 222 Monroe Street, <br />Anoka, MN 55303 ("DEVELOPER"). <br /> <br />WITNESSETH: <br /> <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 /> <br />Outlot A, REGENCY POND, Anoka County, Minnesota, subject to easementof <br />record <br /> <br />and <br /> <br />That part of the Northwest Quarter of the Northwest Quarter of Section 27, <br />Township 32, Range 25, that is described as follows to-wit-commencing at a <br />point on the west line of said section which point is 209 feet north of the <br />southwest corner of said Northwest Quarter of Northwest Quarter as measured <br />along said west line, then proceed east and parallel to the south line of said <br />section for a distance of 209 feet, thence proceed north and parallel to the west <br />line of said section for a distance of 209 feet, then proceed west and parallel to <br />the first course to the west line of said section; then proceed south along the <br />west line of said section point of commencement except road subject to <br />easement of record. <br /> <br />and <br /> <br />That part of the Northwest Quarter of the Northwest Quarter described as <br />follows: Commencing at a point on the west line of said section which point is <br /> <br />Regency Pond lhAddition <br />Development Agreement <br />Page 1 of9 <br /> <br />-297- <br />