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• <br />• <br />Vaughan's First Addition <br />Development Contract <br />April 28, 2008 <br />curve concave to the North (which has a radius of 2879.72 feet, a delta angle of 02 <br />degrees 00 minutes 31 seconds, and an arc length of 136.02) a chord bearing and <br />distance of North 86 degrees 24 minutes 53 seconds East, 136.01 feet to the point <br />of beginning. <br />And EXCEPT the North 1100 feet of Outlot D, Pheasant Hills Preserve, Anoka <br />County, Minnesota. <br />And EXCEPT the South 400 feet of the North 1500 feet of the East 600 feet of <br />Outlot D, Pheasant Hills Preserve, Anoka County, Minnesota. <br />WHEREAS, the developer is splitting the above described land into one lot with <br />one new residence and one outlot. <br />WHEREAS, certain improvements to service the subdivision have been made by a <br />previous development; and <br />WHEREAS, the Developer is to be responsible for the installation and fmancing of <br />certain private improvements within the subdivision; and <br />WHEREAS, Minnesota Statute 429 provides a method for assessing the cost of City <br />installed improvements to the benefited property. <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 />I. DESIGNATION OF IMPROVEMENTS <br />A. Improvements to be installed at the Developer's expense by the Developer as <br />hereinafter provided are hereinafter referred to as "Developer Improvements ". <br />B. Improvements to be installed by the City and financed by the Developer are <br />hereinafter referred to as "City Improvements ". <br />page 2 <br />