02/27/2006 Council Packet - Laserfiche WebLink

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• • • DEVELOPMENT CONTRACT Cavegn Estates THIS AGREEMENT made this 27th day of February 2006, 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 Anthony and Kimberly Cavegn whose address is 7870 Country Lane, Lino Lakes, Minnesota 55014 hereinafter referred to as the "Developer ". WHEREAS, the Developer has received preliminary plat approval from the City Council for a plat of land within the corporate limits of the City known as Cavegn Estates, hereinafter called "Subdivision ", said land is legally described to -wit Lot 1 Block 2, MAR DON ACRES, according to the recorded plat thereof, Anoka County, Minnesota. Together with that vacated part of Lois Lane as dedicated in said plat of MAR DON ACRES, which is adjoining said Lot 1, and which lies south of a line beginning at the northwest corner of said Lot 1; thence East, assumed bearing, along the north line of said Lot 1, 160.00 feet to a corner of said Lot 1, thence continuing East, 120.00 feet to the east line of said MAR DON ACRES and said line there terminating. WHEREAS, certain improvements to service the subdivision have been made by a previous development; and WHEREAS, the Developer is to be responsible for the installation and financing of certain private improvements within the subdivision; and WHEREAS, Minnesota Statute 429 provides a method for assessing the cost of City installed improvements to the benefited property. WHEREAS, the City Subdivision Ordinance and Minnesota Statute 462.358 authorize the City to enter into a performance contract secured by cash escrow or other security to guarantee completion and payment of such improvements following final approval and recording of final plat; and