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Development Contract <br />Miller's Crossroads — Phase I 2 -18 -2004 <br />WHEREAS, the Developer requested that the City construct and finance certain <br />improvements to service the subdivision; and <br />WHEREAS, the Developer is to be responsible for the installation and financing of <br />certain private improvements within the subdivision; and <br />WHEREAS, Minnesota Statute 429 provides a method for assessing the cost of City <br />installed improvements to the benefited property, and <br />WHEREAS, the City Subdivision Ordinance and Minnesota Statute 462.358 <br />authorize the City to enter into a performance contract secured by cash escrow or other security to <br />guarantee completion and payment of such improvements following final approval and recording of <br />final plat; and <br />NOW, THEREFORE, in consideration of the mutual promises of the parties made <br />herein, <br />IT IS AGREED BY AND BETWEEN THE PARTIES HERETO: that the <br />I. DESIGNATION OF IMPROVEMENTS <br />A. Improvements to be installed at the Developer's expense by the Developer as <br />hereinafter provided are hereinafter referred to as "Developer Improvements ". <br />B. Improvements to be installed by the City and financed by the Developer are <br />hereinafter referred to as "City Improvements ". <br />11. DEVELOPER'S IMPROVEMENTS <br />A. The Developer's Engineer shall prepare, at the Developer's expense, a grading plan, <br />preliminary street and utility plan, a surface water management plan. The <br />Developer shall secure a contractor to install these improvements; said contractor <br />shall be approved by the City at its ABSOLUTE discretion. All Developer <br />improvements shall require City inspection and approval and, where appropriate, the <br />approval of any other governmental agency having jurisdiction. The Developer will <br />construct and install at Developer's expense the following improvements according <br />to the following terms and conditions: <br />1. Grading Plan <br />a) A final site grading plan, including certified wetland delineation, <br />with maximum two -foot contours and cross sections as necessary <br />shall be submitted and approved by the City prior to <br />commencement of any site grading. <br />page 2 <br />