2013-060 Council Resolution - Laserfiche WebLink

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• • • DEVELOPMENT CONTRACT Main Street Shoppes THIS AGREEMENT made this day of May, 2013, is by and between the City of Lino Lakes, whose address is 600 Town Center Parkway, Lino Lakes, Minnesota, 55014, a municipal corporation organized under the laws of the State of Minnesota, hereinafter referred to as the "City," and CM Properties 14, LLC whose address is 3470 Washington Drive, Suite 102, Eagan, MN 55122 hereinafter referred to as the "Developer." WHEREAS, the Developer has received preliminary plat approval from the City Council for a plat of land within the corporate limits of the City known as Main Street Shoppes hereinafter called "Subdivision," said land is legally described as follows: The West Half of the Northeast Quarter of the Northeast Quarter of Section 24, Township 31, Range 22, Anoka County, Minnesota, including Parcels 4B and 5A of Anoka County Highway Right of Way Plat No. 65, subject to easements of record. WHEREAS, the Developer is to be responsible for the installation and financing of certain public and private improvements within the Subdivision; and WHEREAS, said public and private improvements include grading, drainage, sanitary sewer, water, storm sewer, and a private access driveway (the "Improvements "); and WHEREAS, the City Subdivision Ordinance and Minnesota Statutes section 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. NOW, THEREFORE, in consideration of the mutual promises of the parties made herein, IT IS AGREED BY AND BETWEEN THE PARTIES HERETO: that the I. DEVELOPER IMPROVEMENTS A. Improvements to be installed by the Developer and financed by the Developer are hereinafter referred to as "Developer Improvements."