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Development Contract Ryan Industrial Park Paae Three special assessment hearing for Little Canada Improvement Project 81 -11 as to the above described property, which hearing will be held by the Little Canada City Council in the fall of 1982, at Little Canada City Hall. (2) The Developer hereby stipulates and agrees that the special assessment of $5,667.00 against each of the above described lots is reasonable, and is based upon and does not exceed the benefits received by the subject property by reason of Little Canada Improvement Project 81 -11. (3) The Developer hereby stipulates and agrees that the special assessment of $5,667.00 will be levied against the subject property, and will constitute a lien against the subject property, in accordance with Minn. Stat. Section 429.061. (4) The Developer hereby stipulates and agrees that any right to appeal from the special assessment of $5,667.00 on each lot, pursuant to Minn. Stat. Section 429.081, is waived in all respects and in all events. 5. The Developer agrees that this Development Contract, or a document containing a summary of relevant provisions thereof, shall be recorded in the office of the County Recorder for Ramsey County, and agrees that the terms and provisions of this Contract shall be a covenant on any and all deeds relating to Lot 1, Block 3, Lot 2, Block 1, and Lot 3, Block 1, Ryan Industrial Park. The Developer further agrees to supply to the City a certified copy of the recorded document, as filed with the Ramsey County Recorder, indicating the date and time of filing, and the book, page, and document number by which the recorded document is identified in the records of the Ramsey'County Recorder. 6. The Developer agrees and understands that the City has the right, privilege and authority pursuant to Minn. Stat. Section 462.358, as a condition precedent to the approval of plans and specifications and approval of the final plat, to prescribe requirements and to the extent to which and the manner in which public improvements shall be installed. Consideration of the City as to this Contract is approval of the plat of Ryan Industrial Park and the ordering of Little Canada Improvement 81 -11. 7. The Developer and the City agree that the City will construct the bituminous overlay on Ryan Drive from Country Drive to Ryan Lane. The City does not agree to accept any responsibility for maintenance of this portion of Ryan Drive, after completion of the construction. The Developer agrees to accept all maintenance responsibilities for this portion of Ryan Drive, after completion of construction, for a minimum of two years. At the conclusion of this two year period, the Developer may request that the City consider the amendment of this provision of this Contract. -3- 0 5