07/14/2003 Council Packet - Laserfiche WebLink

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• • • Development Contract Century Farm North 7 -11 -2003 Commencing at the Southwest corner of said Southwest Quarter of the Northwest Quarter of Section 7; thence North 00 degrees 27 minutes 22 seconds West on an assumed bearing, along the West line of said Southwest Quarter of the Northwest Quarter of Section 7 a distance of 175.00 feet to the point of beginning; thence continuing on said bearing of North 00 degrees 27 minutes 22 seconds West along said West line of the Southwest Quarter of the Northwest Quarter of Section 7 a distance of 150.00 feet; thence North 87 degrees 32 minutes 14 seconds East along a line parallel with the South line of said Southwest Quarter of the Northwest Quarter of Section 7 a distance of 759.5 feet; thence South 00 degrees 27 minutes 22 seconds East along a line parallel with said West line of the Southwest Quarter of the Northwest Quarter of Section 7 a distance of 150.00 feet; thence South 87 degrees 32 minutes 14 seconds West along a line parallel with South line of the Southwest Quarter of the Northwest Quarter of Section 7 a distance of 759.50 feet to the point of beginning, subject to a county road over the West 33 feet. AND That part of Section 7, Township 31, Range 22, Anoka County, Minnesota described as follows: Commencing at the Southwest corner of said Southwest Quarter of the Northwest Quarter of Section 7; thence North 00 degrees 27 minutes 22 seconds West on an assumed bearing, along the West line of said Southwest Quarter of the Northwest Quarter of Section 7 a distance of 325.00 feet to the point of beginning; thence continuing on said bearing of North 00 degrees 37 minutes 22 seconds West along said West line of the Southwest Quarter of the Northwest Quarter of Section 7 a distance of 150.00 feet; thence North 87 degrees 32 minutes 14 seconds East along a line parallel with the South line of said Southwest Quarter of the Northwest Quarter of Section 7 a distance of 759.50 feet; thence South 00 degrees 27 minutes 22 seconds East along a line parallel with said West line of the Southwest Quarter of the Northwest Quarter of Section 7 a distance of 150.00 feet; thence South 87 degrees 32 minutes 14 seconds West along a line parallel with said South line of the Southwest Quarter of the Northwest Quarter of Section 7, a distance of 759.50 feet to the point of beginning, subject to a county road over the West 33 feet. WHEREAS, the Developer requested that the City construct and finance certain improvements to service the subdivision; 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 page 4