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THIS AGREEMENT, made and entered into by and between the CITY OF RAMSEY, <br />a municipal corporation of the State of Minnesota (the "CITY "), and SUNFISH LAKE <br />DEVELOPMENT, LLC, a limited liability company, whose address is PO Box 756, Anoka, <br />MN 55303 ( "the DEVELOPER "). <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 />CITY OF RAMSEY <br />ANOKA COUNTY, MINNESOTA <br />DEVELOPMENT AGREEMENT — SUNFISH LAKE DEVELOPMENT <br />WITNESSETH: <br />Lot 1, Block 1, GATEWAY NORTH INDUSTRIAL PARK PLAT NO. 3 <br />Or upon recording: <br />Lot 1 & Outlot A, Block 1, SUNFISH LAKE DEVELOPMENT <br />WHEREAS, on October 9, 2007, pursuant to Resolution #07 -10- , the CITY <br />approved the final plat of the Subject Property which plat is known as SUNFISH LAKE <br />DEVELOPMENT (the "Plat ") contingent on certain requirements, including DEVELOPER <br />and CITY entering into this contract; and <br />WHEREAS, the Plat consists of one additional lot being created from an existing lot, for <br />a total of one buildable lot and an outlot. <br />WHEREAS, no expenditure of CITY fluids, will be made until the City Code escrow <br />requirements have been fulfilled by DEVELOPER; and <br />NOW, THEREFORE, the CITY and DEVELOPER agree as follows: <br />Sunfish Lake Development <br />Development Agreement <br />October 2007 <br />1of7 <br />