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• <br />• <br />• <br />DEVELOPMENT CONTRACT <br />Preserve at Lino Lakes <br />THIS AGREEMENT made this day of May, 2013, 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 Schwieters Investments of Lino Lakes, LLC whose address is 13925 Fenway <br />Boulevard North, Hugo, MN 55038 hereinafter referred to as the "Developer ". <br />WHEREAS, the Developer has received preliminary plat approval from the City <br />Council for a plat of land within the corporate limits of the City known as Preserve at Lino Lakes <br />hereinafter called "Subdivision ", said land is legally described to -wit <br />The Southwest Quarter of the Southeast Quarter of Section 28, Township 31 , Range 22, Anoka <br />County, Minnesota, except GEMINI ESTATES and TRAPPERS CROSSING according to the <br />recorded plats thereof, Anoka County, Minnesota; also except that part of said quarter - quarter <br />described as follows: Commencing at the northwest corner of said quarter - quarter; thence South <br />89 degrees 29 minutes 30 seconds East along the north line thereof 360 feet to the point of <br />beginning; thence continuing South 89 degrees 29 minutes 30 seconds East along said north line <br />388.48 feet; thence South 22 degrees 30 minutes West 345 feet; thence South 21 degrees 12 <br />minutes East 166.94 feet; thence North 89 degrees 29 minutes 30 seconds West 320 feet; thence <br />North 0 degrees 22 minutes 58 seconds East 475 feet to the point of beginning; and also except <br />that part of said quarter - quarter described as follows: Beginning at the northeast corner of said <br />quarter - quarter; thence South 0 degrees 33 minutes 07 seconds West along the east line thereof <br />170.04 feet to Point "A "; thence North 89 degrees 29 minutes 30 seconds West 418.54 feet; <br />thence North 22 degrees 30 minutes East 183.38 feet to the north line of said quarter - quarter; <br />thence South 89 degrees 29 minutes 30 seconds East along said north line 350 feet to the point of <br />beginning; and also except that part of said quarter - quarter described as follows: Beginning at <br />said Point "A "; thence North 89 degrees 29 minutes 30 seconds West 272.96 feet; thence South <br />22 degrees 30 minutes West 223.24 feet; thence South 89 degrees 29 minutes 30 seconds East <br />parallel with the north line of said quarter - quarter 356.42 feet, more or less, to the east line of <br />