May 16, 2006 CCP - Laserfiche WebLink

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(Draft 5/11/06) DEVELOPMENT AGREEMENT HIDDEN MEADOWS OF LAKE ELMO 1.00 Parties. This Agreement is dated the day of May 2006, and is entered into by and between City of Lake Elmo, a Minnesota municipal corporation (herein "City"); and Rockpoint Church, a Minnesota Non Profit Corporation (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 Hidden Meadows of Lake Elmo (the Subdivision). 3.00 Final Plat Approval. On the 16u' day of May, 2006, the City Council approved the final plat of Hidden Meadows 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. 3.01 Future Residential Subdivision. The Parties to this Agreement contemplate that Outlot A of the Subdivision will be replatted as a residential Open Space Subdivision (the Residential Subdivision). Development of the Residential Subdivision shall be subject to final plat approval by the City and subsequent Development Agreement between the City and the residential developer. 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 on Lot 1, Block 1 of the plat, and to those portions of 59`h Street North and Kelvin Avenue North shown on the plat, 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.