February 21, 2006 CCP - Laserfiche WebLink

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(Draft - Feb 17, 2006) DEVELOPMENT AGREEMENT CITY OF LAKE ELMO Sanctuary of Lake Elmo 1.00 Parties. This Agreement is dated the _ day of 2006, and is entered into by and between City of Lake Elmo, a Minnesota municipal corporation (herein "City"); and The Sanctuary, 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 Sanctuary of Lake Elmo. 3.00 Final Plat Approval. On the 6th day of December, 2005, the City Council approved the final plat of Sanctuary of Lake Elmo, 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 approved plans and specifications which are attached and incorporated herein as Exhibit C and such improvements shall be completed by the date specified unless the City Planner gives written approval for an extension: ` . A. Site Grading and Turf Restoration. Site grading improvements shall include common excavation, subgrade correction, embankment and pond excavation. Turf restoration shalt include seeding, mulching and erosion control: 1. Site Grading Improvements shall be completed on or before the 30th day of June, 2006. 2. Turf restoration improvements shall be completed on or before the 30th day of September, 2006.