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PLANNED UNIT DEVELOPMENT AGREEMENT <br />FOR <br />Elk River Caribou Cabin <br />THIS PLANNED UNIT DEVELOPMENT AGREEMENT (PUD Agreement), <br />made and entered into this 20h dayr of June, 2022, by and between the CITY OF ELK <br />RIVER, a municipal corporation organized under the laws of the State of l��innesota (the <br />Cityr) and LOWELL 10 PARTNERS, LLC (the DevelopeY); <br />WITNESSETH: <br />WHEREAS, Developer has made application to Cittr for approval of a Conditional <br />Use Permit to develop a detached townhome development (the Project) as a Planned Unit <br />Development (PUD), pursuant to Section 30-1564 of the Elk RiveY City Code of <br />Ordinances, on certain propertyT located `vithin the CityT and described on E�ibit A attached <br />hereto (the Subdivision); 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 />NOW, THEREFORE, in consideration of the premises and the mutual promises and <br />conditions hereafter contained, it is herebyT agreed as follows: <br />1.) Warrant�T of Develo�er - Developer hereby warrants and represents to CityT, <br />as inducement to Cit�T's entering into this PUD Agreement, that Developer is the fee owner <br />of all of the properties located �vithin the Subdivision. Developer further represents that it <br />may sell the parcel to third parties unrelated to Developer (Third Parties). This Agreement <br />shall be binding on Third Parties. <br />2.) Develo�ment - The Project shall be developed in accordance with the <br />following plans attached as e�ibits hereto, subject to obtaining site plan approval for all <br />proposed site improvements provided by this PUD Agreement: <br />Exhibit B — Site Plan <br />Exhibit C — Landscape Plan <br />