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DEVELOPMENT AGREEMENT <br /> <br /> <br /> THIS AGREEMENT is made this _______ day of ___________________, 2014, by and <br />between the CITY OF MOUNDS VIEW, a Minnesota municipal corporation (the “City”), and <br />EICHI, INC., a Minnesota Business Corporation, (the “Developer”). <br /> <br />Recitals <br /> <br />A. The Developer is the fee owner of certain real estate located in Ramsey County, <br />Minnesota, legally described as <br /> <br />Lot 4, Block 1, Mueller Addition <br />PIN 07-30-23-42-0066 <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 of site preparation, <br />earthwork, stormwater facilities, and other miscellaneous and related work as required by City <br />ordinance and described in Article 2 referred to as the “Improvements”. <br /> <br /> <br />2 <br />