4.6. SR 11-05-2018 - Laserfiche WebLink

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1 DEVELOPMENT AGREEMENT FOR Monroe Estates THIS AGREEMENT (the Agreement), made and entered into this 5th day of November, 2018, by and between the CITY OF ELK RIVER, a municipal corporation organized under the laws of the State of Minnesota (the City), and 121 Monroe, LLC (the Developer). W I T N E S S E T H: 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. 18-58 on October 15, 2018, (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 40 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 Monroe Estates (the Development). A copy of the final plat is attached as EXHIBIT C. 2. Changes In Official Controls. For two (2) years from the date of this Agreement, no amendments to the City’s Comprehensive Plan or official controls shall apply to or affect the use, development density, lot size, lot layout or dedications of the Development unless required by state or federal law or agreed to in writing by the City and the Developer. Thereafter, notwithstanding anything in this Agreement to the contrary, to the full extent permitted by state law, the City may require compliance with any amendments to the City’s Comprehensive Plan, official controls, platting or dedication requirements enacted after the date of this Contract. 3. Right to Proceed. Within the Subdivision, the Developer may not grade or otherwise disturb the earth, remove trees, construct sewer lines, water lines, streets, utilities, public or private improvements, or any buildings until all the following conditions have been satisfied: (1) this Agreement has been fully executed by