04/24/2006 Council Packet - Laserfiche WebLink

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• • • DEVELOPMENT AGREEMENT Century Farms North 4th Addition THIS AGREEMENT made this 24th day of April, 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 Century Farm North Development, Inc. whose address is 3157 Berwick Knoll, Brooklyn Park, Minnesota 55443 hereinafter referred to as the "Developer". WHEREAS, the Developer has received Conditional Use permit approval for a residential planned unit development from the City Council for a plat of land within the corporate limits of the City known as Century Farm Addition, hereinafter called "Subdivision ", said land is legally described to -wit Outlot G, CENTURY FARM NORTH and Outlot A and Outlot D, CENTURY FARM NORTH 3RD ADDITION, according to the recorded plat thereof, on file and of record in the office of the County Recorder, Anoka County, Minnesota WHEREAS, the Developer is to be responsible for the installation and financing of certain private improvements within the Subdivision; and WHEREAS, said private improvements include grading, drainage, sanitary sewer, water, and driveway improvements; and 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.