7.5. SR 06-20-2016 - Laserfiche WebLink

Home Browse Search

DEVELOPMENT AGREEMENT FOR River Park Third Addition THIS AGREEMENT (the Agreement), made and entered into this 20th day of June, 2016, by and between the CITY OF ELK RIVER, a municipal corporation organized under the laws of the State of Minnesota (the City), and Paxmar, LLC (the Developer). WITNESSETH: WHEREAS, the Developer has made application to the City for approval of a final plat of land within the City described on Exhibit A attached hereto (the Subdivision); and WHEREAS, the City Council adopted Resolution No. 16-xx on June 20, 2016, (attached as Exhibit A hereto) granting final plat approval to the Subdivision, subject to several conditions, including a condition that Developer enter into an agreement with the City governing the provision of certain utilities, services and facilities to the Subdivision and the transfer of certain land interests and payments to the City, so as to fully comply with the Subdivision Ordinance; NOW, THEREFORE, in consideration of the premises and the mutual promises and conditions hereinafter contained, it is hereby agreed as follows: 1. Warranty of Developer. Developer hereby warrants and represents to the City, as inducement to the City's entering into this Agreement, that Developer is owner of certain real property legally described in EXHIBIT B attached hereto consisting of 8.21 acres of unimproved land located in the City of Elk River, Sherburne County, Minnesota. The Developer intends to improve and develop such property for single family residential uses, to be known as River Park Third Addition (the Development). A copy of the final plat is attached as EXHIBIT C. 2. Right to Proceed. Within the Subdivision, the Developer may not grade or otherwise disturb the earth, remove trees, unless authorized by a separate permit or letter; work to construct sewer lines, water lines, streets, utilities, public or private improvements, or any buildings may not proceed until all the following conditions have been satisfied: (1) this Agreement has been fully executed by both parties and filed with the City Clerk; (2) the necessary security has been received by the City; (3) the necessary insurance for the Developer and its construction contractors has been received by the City; (4) the final plat for the Subdivision has been filed with the office of the Sherburne County Recorder or Registrar of Titles, and (5) all required permits are secured and a copy filed with the City Engineer.