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Development Contract — Site Grading Only <br />Ravens Hollow <br />along the West line of the Northeast Quarter of the Southeast Quarter of said section a distance <br />of 165.375 feet to the point <br />of beginning. <br />Subject to an easement over the West 33 feet thereof for public roadway purposes; and subject to <br />the reservation of a right of <br />way for purposes over the South 2 rods of the West 24 rods thereof, containing 9 acres more or <br />less. <br />Except <br />That part of Lot 10, Auditor's. Subdivision No 107, according to the map or plat thereof on file <br />and of record in the office of <br />the Register of Deeds in and for Anoka County, Minnesota, that is included in the following <br />described tract of land: <br />Commencing at the center line of the Highway adjoining said Lot 10 on the West where the <br />North line of said Lot 10, which <br />line is also the North line of. Lot 9, said line being extended, intersects said Highway and <br />proceeding thence East on said <br />North line for a distance of 264.3 feet; and proceeding thence South and parallel to the West <br />line of said Lot 10 for a distance <br />of 165.375 feet; and proceeding thence West and parallel to the North line of said Lot 10 to the <br />center line of said Highway; <br />and proceeding thence North on said center line to the point of commencement. <br />This tract includes Lot 9, said Auditor's Subdivision, and this deed is made for the purposes of <br />explaining a possible ambiguity <br />existing in the deed dated 15 December, 1951 and filled for record 15 December 1951, in book <br />263, on page 271. <br />WHEREAS, the Developer has requested approval to commence with site grading <br />activities, an <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 PARTIES HERETO: that the <br />page 3 <br />