05-28-13 Council Packet - Laserfiche WebLink

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Preserve at Lino Lakes Development Contract May, 2013 page 2 said quarter-quarter; thence North 0 degrees 33 min utes 07 seconds East along said east line 207 feet, more or less, to the point of beginning. AND That part of the Northwest Quarter of the Northeast Quarter of Section 33, Township 31, Range 22, Anoka County, Minnesota, lying northwest of the west right-of-way line of Holly Drive. WHEREAS, the Developer requested that the City co nstruct and finance certain improvements to service the plat; and WHEREAS, the Developer is to be responsible for the installation and financing of certain private improvements within the plat; and WHEREAS, Minnesota Statute 429 provides a method fo r assessing the cost of City installed improvements to the benefited property. WHEREAS, the City Subdivision Ordinance and Minne sota Statute 462.358 authorize the City to enter into a performance cont ract secured by cash escrow or other security to guarantee completion and payment of such improvemen ts following final approval and recording of final plat; and NOW, THEREFORE, in consideration of the mutual prom ises of the parties made herein, IT IS AGREED BY AND BETWEEN THE PARTIES HERETO: tha t the I. DEVELOPER IMPROVEMENTS A. Improvements to be installed by the Developer an d financed by the Developer are hereinafter referred to as “Developer Improvements”. B. Improvements to be installed by the City and fin anced by the Developer are hereinafter referred to as “City Improvements”. II. DEVELOPER’S PLANS A. The subject property shall be developed in acco rdance with the following Developer Plans, original copies of which are on file with th e City Engineer. The Developer Plans may be prepared after entering this Agreement but must be completed and approved by the City before commencement of any wor k on the Subject Property. If the plans vary from the written terms of this Agree ment, the written terms shall control. The Developer Plans are: