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• • CITY OF LINO LAKES, MINNESOTA SITE IMPROVEMENT PERFORMANCE AGREEMENT THIS AGREEMENT made this 10th day of October, 2011, is by and between the City of Lino Lakes, whose address is 600 Town Center Parkway, Lino Lakes, Minnesota 55014, a municipal corporation organized under the laws of the State of Minnesota, hereinafter referred to as the "City ", and SAM Properties, whose address 7997 Lake Drive Lino Lakes Minnesota 55014, hereinafter referred to as the "Developer ". WHEREAS, the Developer has received approval of Site Development Plans, hereinafter called the "Plans ", by the City Council of the City on the 10th day of October, 2011, by Resolution No. 11 -95 (Exhibit A) pursuant to a conditional use permit; and WHEREAS, the conditional use permit review report is attached hereto as Exhibit B and the Plans listed in Exhibit B are incorporated herein by reference; and WHEREAS, the aforesaid approval includes a condition that prior to site work commencing, a new performance agreement with financial securities must be executed and the securities submitted to the City; and WHEREAS, pursuant to the terms of this Agreement, the Developer, its successors and assigns, agree to construct the improvements set forth in Exhibit B and the Plans on the site (hereinafter referred to as "Property ") legally described as follows: That part of the Northwest Quarter of Section 9, Township 31, Range 22, Anoka County, Minnesota lying northwesterly of County State Aid Highway No. 23. also known as Old U.S. Highway No. 8, except that part thereof described as follows: Beginning at the intersection of the west line of said Northwest Quarter and the northwesterly line of County State Aid Highway No. 23; thence northerly along said west line 329.14 feet; thence North 89 degrees 12 minutes 22 seconds East 173.34 feet to said northwesterly right of way page 1 of 9 P94