11-24-14 Council Packet - Laserfiche WebLink

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DEVELOPMENT CONTRACT Lino Lakes Development (White Pine Senor Living) THIS AGREEMENT made this day of , 2014, 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 Lino Developers, LLC. whose address is 4999 France Avenue S Suite 245, Minneapolis, MN 55364, hereinafter referred to as the "Developer." WHEREAS, the Developer has received preliminary plat approval from the City Council by Resolution No. 14-132 for a plat of land within the corporate limits of the City known as Lino Lakes Development (White Pine Senor Living), hereinafter called "Subdivision," as described in Attachment A. WHEREAS, the Developer is to be responsible for the installation and financing of certain private improvements within the Subdivision; and WHEREAS, the City Subdivision Ordinance and Minnesota Statute sections 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 the final plat. NOW, THEREFORE, in consideration of the mutual promises of the parties made herein, IT IS AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS: I. DEVELOPER IMPROVEMENTS a. Improvements to be installed by the Developer and financed by the Developer are hereinafter referred to as "Developer Improvements." b. Improvements to be installed by the City and financed by the Developer are hereinafter referred to as "City Improvements." II. DEVELOPER PLANS a. The subject property shall be developed in accordance with the following Developer Plans, original copies of which are on file with the City Engineer. The Developer Plans may be prepared after entering this Agreement but must be completed and approved by the City before commencement of any work on the Subject Property. If the plans vary from the written terms of this Agreement, the written terms shall control.