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<br />1 <br />LA515\129\891453.v6 <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />(reserved for recording information) <br /> <br /> <br />DEVELOPMENT AGREEMENT <br /> <br />Prairie Sky Twinhomes <br /> <br /> <br /> <br /> <br />THIS DEVELOPMENT AGREEMENT is dated ______________, 2024, by and between the <br />CITY OF LAKE ELMO, a Minnesota municipal corporation (the “City”) and PRAIRIE SKY <br />TWINHOMES, LLC, a Minnesota limited liability company (the “Developer”). <br />1. REQUEST FOR PLAT APPROVAL. The Developer has asked the City to approve a <br />plat for Prairie Sky Twinhomes (referred to in this Agreement as the “Subdivision”). The property <br />being platted is situated in the County of Washington, State of Minnesota, and is legally described <br />on Exhibit A. <br />2. CONDITIONS OF PLAT APPROVAL. The City hereby approves the Subdivision on the <br />condition that the Developer enter into this Agreement, furnish the security required by it, and record <br />the plat with the County Recorder or the Registrar of Titles within 545 days after the City Council <br />approves the final plat. <br />3. RIGHT TO PROCEED. This Agreement is intended to regulate the development of the <br />Subdivision and the construction therein of certain public and private improvements. Unless <br />separate written approval has been given by the City within the plat or land to be platted, the <br />Developer may not construct public or private Subdivision Improvements or any buildings on the <br />Subdivision Property until all the following conditions precedent have been satisfied: