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PLANNED UNIT DEVELOPMENT AGREEMENT <br /> This Planned Unit Development Agreement entered into <br /> this loth day of August 1988 by and between the City <br /> of Lino Lakes, a municipal corporation organized under the laws <br /> of the State of Minnesota, hereinafter called "City" , and Rice <br /> Lakes Estates, a limited partnership , hereinafter called <br /> "Developer". <br /> WITNESSETH: <br /> WHEREAS, the Developer is the owner of certain lots <br /> within the plat of Rice Lake Estates within the corporate limits <br /> of the City known as Lino Lakes; and <br /> WHEREAS, Developer has requested the rezoning of all of <br /> the land within Rice Lake Estates from its present R-7 zoning <br /> classification to R-5 and the granting of a conditional use <br /> permit for a Planned Unit Development of the lots that it owns <br /> therein. <br /> NOW, THEREFORE, in consideration of the mutual promises <br /> made herein, it is agreed by and between the parties hereto as <br /> follows: <br /> 1. Rezoning. The City of Lino Lakes agrees that it <br /> will rezone the property legally described as Rice Lake Estates <br /> according to the map or plat thereof on file and of record in <br /> the office of the County Recorder, Anoka County, Minnesota from <br /> R-7 zoning classification under its present zoning ordinance to <br /> an R-5 zoning classification. That furthermore the City shall <br /> grant a conditional use permit for the establishment of a <br /> Planned Unit Development upon such property. Such rezoning and <br /> -1- <br />