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DEVELOPMENT CONTRACT <br />THIS CONTRACT, MADE THIS day of , 2012, by and between the <br />City of Little Canada, a municipal corporation of the State of Minnesota (hereinafter referred to <br />as the "City ") and TCF National Bank, a Minnesota Corporation, owner and subdivider <br />(hereinafter referred to as the "Developer "). <br />WITNESSETH: <br />WHEREAS, Developer is the owner of property situated in the City of Little Canada, <br />County of Ramsey, to be platted as Yorkton Ridge Estates; and <br />WHEREAS, Developer was granted approval of the Preliminary and Final Plat for <br />Yorkton Ridge Estates pursuant to Resolution Number 2012 -7 -125 adopted by the City Council <br />of Little Canada at their meeting of July 25, 2012; and <br />WHEREAS, Developer is required to construct certain improvements within said Plat. <br />Said improvements include the general improvements to serve the Plat (hereinafter individually <br />and collectively referred to as the "Required Improvements "); and <br />WHEREAS, it is understood that the Developer will ultimately be assigning this <br />agreement to another party who will be responsible for performance of all terms and conditions; <br />WHEREAS, City will not unreasonably withhold its consent to the assignment with the <br />understanding that no building permits will be issued until the assignment has been approved and <br />all financial sureties are in place; <br />NOW THEREFORE, the City and Developer agree as follows: <br />Contract <br />1. The Developer shall cause to be constructed, at his cost, the Required Improvements <br />according to City standards. All of the Required Improvements shall be approved by the <br />City and shall be consistent with approved Plat, the Grading Plan including erosion <br />control features, tree preservation requirements pursuant to the City's tree preservation <br />ordinance requirements and based upon the Tree Inventory dated June 26, 2012, as well <br />as any requirements imposed by the City Engineer. A copy of the subdivision plat and <br />referenced plans are attached hereto and incorporated herein as Exhibit A. <br />2. The Developer shall have no claim against the City and its officers and employees for <br />damages sustained or costs incurred resulting from Plat approval and development. The <br />Developer agrees to indemnify, defend and hold harmless the City, its agents and <br />employees from any claim, demand, suit, action or other proceeding whatsoever by any <br />person for any loss or damage to property or any injury to or death of any person <br />- 1 - <br />