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1 <br />LA515\129\1062131.v2 <br />FIRST AMENDMENT TO DEVELOPMENT AGREEMENT (PRAIRIE SKY <br />TWINHOMES) <br />THIS FIRST AMENDMENT TO DEVELOPMENT AGREEMENT (this “First <br />Amendment”) is entered into this ___ day of _____________, 20___, by Prairie Sky Twinhomes <br />LLC, a Minnesota limited liability company (the “Developer”) and the City of Lake Elmo, a <br />Minnesota municipal corporation (the “City”). <br />R E C I T A L S <br />WHEREAS, the City and the Developer entered into that certain Development Agreement <br />on August 20th 2024, recorded as Document No. 4472709 (the “Agreement”), relating to the <br />development of Prairie Sky Twinhomes, the property of which is legally described on the attached <br />Exhibit A; and <br />WHEREAS, the City and the Developer desire to amend the Agreement to include <br />provisions to allow building permits to be issued prior to the installation of sidewalks consistent <br />with the language in other project development agreements; and <br />NOW, THEREFORE, in consideration of the foregoing and the covenants and obligations <br />contained in this Amendment and other good and valuable consideration, the receipt and <br />sufficiency of which are hereby acknowledged, it is agreed by and between the City and the <br />Developer as follows: <br />1.Section 24 of the Development Agreement shall be deleted in its entirety and be <br />amended to read as follows: <br />24. BUILDING PERMITS/CERTIFICATES OF OCCUPANCY. <br />A.The City will not issue any building permits for any lot within the Subdivision, or within a <br />completed phase of the Subdivision in a City preapproved phasing plan, until such time <br />that sanitary sewer, water, storm sewer, curbing and one lift of asphalt has been installed <br />and tested for all public streets; boulevard grading has been completed within the entire <br />right-of-way (without hold down grading for the future sidewalk or any other <br />improvements); street and traffic control signs are installed; property monuments have <br />been installed, and grading as-built plans have been submitted and approved by the City. <br />A “preapproved phasing plan” is defined as a phased construction plan that has been <br />submitted by the Developer and approved by the City in advance of the preconstruction