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DEVELOPMENT AGREEMENT <br /> <br /> <br /> THIS AGREEMENT is made this _______ day of ___________________, 2014, by <br />and between the CITY OF MOUNDS VIEW, a Minnesota municipal corporation (the <br />“City”), and BUILD TO SUIT, INC., a Minnesota Business Corporation, (the <br />“Developer”). <br /> <br />Recitals <br /> <br />A. The Developer has a purchase agreement for certain real estate located in Ramsey <br />County, Minnesota, legally described as <br /> <br />Sec 08, Tn 30, Rn 23, Ex N Ft For Co Rd H2 Park Of NW ¼ of NW ¼ of SE ¼ Nely Of L Par <br />With And 150 Ft Nely From Cl Of Sth 10/62 <br /> <br />And <br /> <br />Part Of SW ¼ Of NW ¼ Of SE ¼ Nely Of L Park With & 150 Ft Nely From Cl Of Sth 10/62 (Subj <br />to Rd & Esmts) in Sec 08, Tn, Rn 23 <br /> <br />PIN’s 08-30-23-42-0001 and 08-30-23-42-0012 <br /> <br />(hereinafter referred to as the “Property”). <br /> <br />B. The Developer shall construct on the Property improvements consistent with the final <br />construction plans dated ______________________, 2014. <br /> <br />C. The Developer has requested that the City approve a major subdivision for the <br />property. <br /> <br />D. As a prerequisite to the approval of the subdivision, the City Council requires the <br />Developer to agree to the construction of certain improvements pursuant to this Agreement for the <br />orderly development of the Property. <br /> <br />E. The Developer is financially responsible for the construction costs to develop the <br />Property involving private and public improvements as required by City ordinance and described in <br />Article 2 referred to as the “Improvements”. <br /> <br /> <br />2 <br />