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• <br />Development Contract <br />Marshan Estates 7 -26 -04 <br />feet; thence South 67 degrees, 07 minutes East 526.24 feet to the east line of said Southeast <br />Quarter of Northwest Quarter; thence South 00 degrees, 04 minutes West along said east line <br />84.85 feet to the point of beginning. <br />WHEREAS, the Developer requested that the City construct and finance certain <br />improvements to service the plat; and <br />WHEREAS, the Developer is to be responsible for the installation and financing of <br />certain private improvements within the plat; and <br />WHEREAS, Minnesota Statute 429 provides a method for assessing the cost of City <br />installed improvements to the benefited property. <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 PAR111ES 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 />Improvements to be installed by the City and financed by the Developer are <br />hereinafter referred to as "City Improvements ". <br />DEVELOPER'S IMPROVEMENTS <br />A. The Developer's Engineer shall prepare, at the Developer's expense, a grading plan <br />and a surface water management plan. The Developer shall secure a contractor to <br />install the site grading and erosion control; the City at its ABSOLUTE discretion <br />shall approve said contractor. All Developer improvements shall require City <br />inspection and approval and, where appropriate, the approval of any other <br />governmental agency having jurisdiction. The Developer will construct and install at <br />Developer's expense the following improvements according to the following terms <br />and conditions: <br />1. Grading Plan <br />