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PLANNED UNIT DEVELOPMENT AGREEMENT <br />FOR <br />MISSISSIPPI RIDGE <br />THIS PLANNED UNIT DEVELOPMENT AGREEMENT (PUD <br />Agreement), made and entered into this 26day ofQ�, 2001, by and <br />between the CITY OF ELK RIVER, a municipal corporation organized under the <br />laws of the State of Minnesota (the City) and Scott Powell, an individual (the <br />Developer); <br />WITNESSETH: <br />WHEREAS, Developer has made application to City for approval of a <br />Conditional Use Permit to develop a mixed use project consisting of eight commercial <br />and 22 residential lots (the Project) as a Planned Unit Development, pursuant to <br />Sections 900.12(15) and 900.42 of the Elk River City Code of Ordinances, on certain <br />property located within the City and described on Exhibit A attached hereto (the <br />Subdivision); and <br />WHEREAS, the City Council of the City of Elk River (the City Council), on <br />March 19, 2001, approved a Conditional Use Permit for the Project, subject to a <br />number of conditions; and <br />WHEREAS, one of the conditions of the approval of the Conditional Use <br />Permit is that Developer enter into a Planned Unit Development Agreement (PUD <br />Agreement) with City to be approved by the City Council; and <br />WHEREAS, the purposes of the PUD Agreement are to set forth the standards, <br />uses and procedures for development of the Project as a Planned Unit Development; <br />