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<br />AMENDMENT NO.4
<br />to
<br />ELK RIVER PLAZA DEVELOPMENT AGREEMENT
<br />CITY OF ELK RIVER, SHERBURNE COUNTY, MINNESOTA
<br />
<br />THIS AMENDMENT NO.4 is made effective the 21st day of June, 1999, by and
<br />between the CITY OF ELK RIVER, Sherburne County, Minnesota (the City), and
<br />ELK RIVER SHOPPING CENTER COMPANY, a Minnesota partnership, 9110 83rd
<br />Avenue North, Brooklyn Park, Minnesota 55445.
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<br />WIT N E SSE T H:
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<br />WHEREAS, on December 24, 1984, the parties hereto entered into Elk River
<br />Plaza Planned Development Agreement, which agreement was amended by
<br />Amendment No.1 effective December 31, 1985, and by Amendment No.2, effective
<br />March 16, 1987, and by Amendment No.3, effective September 21, 1987; and
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<br />WHEREAS, the City Council on June 21, 1999, approved the Replat of Lot 4,
<br />Block 2, of Elk River Plaza, as Elk River Plaza 4th Addition.
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<br />WHEREAS, on June 21, 1999, the Elk River City Council approved an
<br />amendment to the Elk River Plaza Planned Development Agreement to permit the
<br />development of Elk River Plaza 4th Addition by the placement of the following
<br />improvements on the property: A 15,000 square foot retail building on Lot 1, Block
<br />1, Elk River Plaza 4th Addition; the placement of a 200 seat Class I restaurant with
<br />on sale liquor, a 6,500 square foot retail building on Lot 2, Block 1, Elk River Plaza
<br />4th Addition, and the placement of a 40,00 square foot medical office on Lot 3, Block
<br />1, Elk River Plaza 4th Addition.
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<br />NOW, THEREFORE, it is hereby agreed by and between the parties here as
<br />follows:
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<br />1.) The Elk River Plaza Planned Development Agreement IS hereby
<br />amended to allow the construction of the following improvements:
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<br />(01) A 15,000 square foot retail building to. be located on Lot 1, Block 1,
<br />Elk River Plaza 4th Addition; and
<br />(02) A Class I restaurant with on-sale liquor, and 6,500 square foot retail
<br />on Lot 2, Block 1, Elk River Plaza 4th Addition; and
<br />(03) A 40,000 square foot medical office building on Lot 3, Block 1, Elk
<br />River Plaza 4th Addition; and
<br />(04) A 19-foot tall monument sign on Lot 2, Block 1, Elk River Plaza 4th
<br />Addition, and an 8-foot tall monument sign on Lot 3, Block 2, Elk
<br />River Plaza as shown on the approved site plan.
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