April 18, 2006 CCP - Laserfiche WebLink

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DEVELOPMENT AGREEMENT March 17, 2006 CITY OF LAKE ELMO Discover Crossing 1.00 Parties. This Agreement is dated the day of 2005, and is entered into by and between City of Lake Elmo, a Minnesota municipal corporation (herein "City'); and Discover Crossing Investments LLC, a Minnesota limited liability company (herein "Developer"). 2.00 Property Description. The Developer represents that it is the record fee owner of property described on Exhibit A, attached and incorporated herein, which will be platted as Discover Crossing. 3.00 Final Plat Approval. On the day of , 2005, the City Council approved the final plat of Discover Crossing, which is attached and incorporated as Exhibit B. The City's approval was conditioned upon the Developer entering into this Development Contract. 4.00 Terms and Conditions. NOW, THEREFORE, in reliance upon the representations contained herein; in compliance with the City's Zoning and Subdivision Regulations; and in consideration of the mutual undertakings herein expressed, the parties agree as follows: 4.01 Developer Improvements The Developer shall construct the following improvements in compliance with plans and specifications which have been reviewed and approved by the City's Consulting Engineer, which are attached and incorporated herein as Exhibit C : A. Site Grading and Turf Restoration. Site grading improvements shall include common excavation, subgrade correction, embankment and pond excavation. Turf restoration shall include seeding, mulching and erosion control. Site Grading Improvements shall be completed on or before the 31st day of August, 2006. 2. Turf restoration improvements shall be completed on or before the 315t day of October, 2006. B. Landscaping. Developer shall complete all landscaping improvements on or before the 30t day of June,2007.