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• <br />• <br />DEVELOPMENT CONTRACT <br />Lake Amelia Roadway <br />THIS AGREEMENT made this 1 lth day of August, 2003, is by and between the <br />City of Lino Lakes, whose address is 600 Town Center Parkway, Lino Lakes, Minnesota, 55014, a <br />municipal corporation organized under the laws of the State of Minnesota, hereinafter referred to as <br />the "City ", and Royal Oaks Realty, Inc. whose address is 1000 County Road E West, Shoreview, <br />Minnesota 55126 hereinafter referred to as the "Developer ". <br />WHEREAS, the Developer has received approval from the City Council for <br />installing a public street through existing lots of record within the corporate limits of the City <br />known as Lake Amelia Roadway, said land is legally described to -wit <br />TRACT A: The West 210.00 feet Government Lot 2, Section 35, Township 31, Range 22, <br />Anoka County, Minnesota. Subject to Centerville Road, <br />AND <br />TRACT B: The East 383.00 feet of the West 593.00 feet of Government Lot 2, Section 35, <br />Township 31, Range 22, Anoka County , Minnesota, <br />AND <br />TRACT C: That part of Government Lot 2, Section 35, Township 31, Range 22, Anoka County, <br />Minnesota lying East of the West 593.00 feet of said Government Lot 2. <br />WHEREAS, the Developer is to be responsible for the installation and financing of <br />certain private improvements; 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; and <br />