08-08-2022 City Council Packet - Laserfiche WebLink

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DEVELOPMENT AGREEMENT and PLANNED UNIT DEVELOPMENT AGREEMENT Watermark5thAddition THIS AGREEMENT is made this _ day of , 2022, by and between the City of Lino Lakes ("City"), a Minnesota municipal corporation, and U.S. Home, LLC, a Delaware limited liability company ("Developer"). 1. Subdivision. Developer received preliminary plat approval from the City by Resolution 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 Watermark 5th Addition of the Subdivision. 2. Final Plat Approval. The City's approval of the final plat of Watermark 5th Addition is contingent upon execution and delivery of this agreement, all required petitions, bonds, security, and other documents required by the City, and satisfaction of all conditions of approval required by Resolution No. 22-78. The Final Plat including 97 lots is attached hereto as Exhibit A. 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 and are fully executed. 4. Developer Plans. a. The Watermark 5 th Addition 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 511 Addition Final Plat, containing 5 sheets, prepared by Carlson McCain, received May 23, 2022.