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„ ' ' PRATT CONSTRUCTION, INC. <br />Park Dedication <br />4 DEVELOPMENT AGREEMENT <br />Prior to commencement of Phase II development, the Developer shall dedicate <br />approximately 2.6 acres of park land in the form of either modified Site B or Site C as <br />identified in the City Park Superintendent's letter to the City Planning Commission dated <br />December 22, 1993 (attached as Exhibit D). Site C would require a joint powers <br />agreement with the City of Little Canada. In either case, Site B or C, the land will have <br />to be proven developable for the City's indicated use (parking lot/tennis courts/playground <br />equipment/fishing pier/non-motorized boat launch) or the City will require a substitute <br />land or cash dedication. This determination will have to be made prior to final plat <br />approval of Phase II of this development. The developer shall also make a $20,000 cash <br />contribution prior to site work in Phase Two. If the Developer is given a credit toward <br />path construction identified in the sidewalk/pathway/stairway section above, the credit will <br />be given toward the just mentioned $20,000 payment requirement. Prior to the release <br />of not more than 50% of the building permits in Phase TI of this development, the <br />Developer shall make an additional $30,000 cash dedication to the City. If for any reason <br />Phase Lf does not commence construction prior to September 1, 1999, the Developer shall <br />make the $50,000 cash payment required in this article in full prior to September 30, <br />1999. <br />Any utilities or other work done within the "park property" shall be approved by the City <br />Park Superintendent. <br />Prior to November 1, 1994, the City Park Commission, with input from the Developer, <br />shall create a concept park plan for this proposed park. The concept plan shall be shown <br />to all perspective buyers of lots in the development. Because of the environmental <br />sensitivity of the area, the final park plan proposed by the Park Commission, after input <br />from the Developer, shall be approved by the City Council. <br />The Developer will be required to post a sign on site showing the location of the <br />proposed park and its proximity to lots within the development. Also, the Developer shall <br />-- _ .- prepare-and=~{iistribute to all interested homebuyer-sue-.-information brochure on the <br />location of the park and a concept of what uses are intended within the future park. <br />Article 2 <br />The Developer shall submit to the City one (1) signed mylar copy, four (4) paper copies, all 20" <br />X 30", and two reduced mylar copies (200 feedinch) of the final plat. <br />Page 4 <br />