05-11-2020 Council Packet - Laserfiche WebLink

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DEVELOPMENT AGREEMENT and PLANNED UNIT DEVELOPMENT AGREEMENT Watermark 3rd Addition THIS AGREEMENT is made this _____ day of ______________, 2020, by and between the City of Lino Lakes, a Minnesota municipal corporation, and U.S. Home Corporation, A Delaware corporation d/b/a Lennar Corporation (“Developer”). 1. Subdivision. Developer received preliminary plat approval from the City by Resolution No. No. 16-51 for a plat known as Watermark (“Subdivision”). Unless otherwise stated, all terms and conditions of this Agreement relate to work within the Subdivision. 2. Final Plat Approval/Phasing of Work. The City’s approval of the final plat of Watermark 3rd Addition, as legally described on Exhibit A attached hereto, is contingent upon execution and delivery of this agreement and all required petitions, bonds, security, and documents, and satisfaction of all conditions of approval required by Resolution No. 20- 30. The Final Plat is attached hereto as Exhibit B. The Developer intends to undertake work in the 3rd Addition in two distinct phases, hereafter referred to as Phases 3A and 3B. The phases are identified in Exhibit B. No work may be begin in the Phase 3B area until the City Engineer has confirmed that all Phase 3B fees, escrows, and letters of credit required by this Agreement for Phase 3B have been paid and posted. 3. Phased Development. The City may refuse to approve final plats of subsequent additions of the plat if the Developer has breached this Agreement and the breach has not been remedied. Development of subsequent phases may not proceed until Development Agreements for such phases are approved by the City. 4. Developer Plans. a. The Subdivision shall be developed in accordance with the following Developer Plans, original copies of which are on file with the City Engineer. The Developer Plans may be prepared and revised after entering into this Agreement but must be approved by the City before commencement of any work. If the plans vary from the written terms of this Agreement, this Agreement shall control. b. The Developer Plans as of the date of this Agreement are: i. Watermark 3rd Addition Final Plat, containing 5 sheets, prepared by Carlson McCain date stamped January 28, 2020.