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8. The CitY "M O1n•1`":. th..c Ih Ir.clop rent of the Lakr °[onerty <br />pursuant o Gezald Sunde's r i rc and t.h• qrade rlau attached hereto as <br />Exhibits I and 7 sati.^,fy Resolution Nu':d^>" y83 With r<.i.ard to the °ron- <br />erty. <br />9. peveloper shall not b: responsible nor bc required ta com- <br />mence the g=ading and develonm n of ch L,akc Prnncrtq nrior to the <br />final approval of the zoning chnn cs an 1.:.r 1'.U.n. i y che City for <br />tt.e Yroperty. <br />10. Developers nay com•n ncr develo.,nc of the Pronerty <br />after receiving aoproval by thc City .c+ rFauired Ly c.ity ordinances; <br />in which instance the developmenr. rmd ncadinq o[ the Lake Property <br />shall be completed no later than thrce (3; years aftez- the commence- <br />meut of development of the Property. <br />IN AITNESS WHEREOF, the oartio her in have entereil in[o this <br />Agieement the day a u year t..... _. .. .,.;.t.rn. <br />CITY OF MOUNDS VIEW M b E REALTY COMPANY <br />ey <br />Artd <br />y y. <br />FRAUS-NJDSRSON, INCORPORATED <br />ti.- <br />Tgieement appruved by City :uunci) ar. itn meetinq on _.__ ___, 1980, <br />pursuant to Resolutinn Numbex .) <br />5/6/80; 5/15/80