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DEVELOPMENT AGREEMENT <br />and <br />PLANNED UNIT DEVELOPMENT AGREEMENT <br />Watermark 8th Addition <br />THIS AGREEMENT is made this _____ day of ____________, 2024, by and between the City <br />of Lino Lakes (“City”), a Minnesota municipal corporation, and U.S. Home, LLC, a Delaware limited <br />liability company (“Developer”). <br />1.Subdivision. Developer received preliminary plat approval from the City by Resolution No. <br />16-51 for a plat known as Watermark and amendment to preliminary plan by Resolution <br />No. 23-77 (“Subdivision”). Unless otherwise stated, all terms and conditions of this <br />Agreement relate to work within the Subdivision. <br />2.Final Plat Approval. The City’s approval of the final plat of Watermark 8th Addition is <br />contingent upon execution and delivery of this agreement, all required petitions, bonds, <br />security, and other documents required by the City, and satisfaction of all conditions of <br />approval required by Resolution No. 24-115. The Final Plat including 97 lots is attached <br />hereto as Exhibit A. <br />3.Phased Development. The City may refuse to approve final plats of subsequent additions <br />of the plat if the Developer has breached this Agreement and the breach has not been <br />remedied. Development of subsequent phases may not proceed until Development <br />Agreements for such phases are approved by the City and are fully executed. <br />4.Developer Plans. <br />a.The Subdivision shall be developed in accordance with the following Developer <br />Plans, original copies of which are on file with the City Engineer. The Developer <br />Plans may be prepared and revised after entering into this Agreement but must <br />be approved by the City before commencement of any work. If the plans vary <br />from the written terms of this Agreement, this Agreement shall control. <br />b.The Developer Plans as of the date of this Agreement are: <br />i. Watermark 8th Addition Final Plat, containing 4 sheets, prepared by <br />Carlson McCain, received July 1, 2024 <br />ii. Watermark 8th Addition Sanitary Sewer, Water Main, Storm Sewer and <br />Street Construction plan set containing 21 sheets, dated June 26, 2024, <br />prepared by Carlson McCain. <br />Attachment 4: Development Agreement and Planned Unit Development Agreement