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<br />229446v1 <br />4476897.v2 <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />(reserved for recording information) <br /> <br /> <br />DEVELOPMENT CONTRACT <br />(Developer Installed Improvements) <br /> <br />MEADOWSWEET BEND <br /> <br /> <br /> <br /> THIS DEVELOPMENT CONTRACT (the “Contract”) dated July 7, 2025, by and between the <br />CITY OF ELK RIVER, a Minnesota municipal corporation (“City”), and Twin Cities Land Development (the <br />“Developer”). <br /> 1. REQUEST FOR PLAT APPROVAL. The Developer has asked the City to approve a plat for <br />Meadowsweet Bend (referred to in this Contract as the "plat"). The land is situated in the County of Sherburne, <br />State of Minnesota, and is legally described in Exhibit A. <br /> 2. CONDITIONS OF PLAT APPROVAL. The City hereby approves the plat on condition that <br />the Developer enter into this Contract, furnish the security required by it, and record the plat with the County <br />Recorder or Registrar of Titles within two years after the City Council approves the final plat. <br /> 3. RIGHT TO PROCEED. Within the plat or land to be platted, the Developer may not grade or <br />otherwise disturb the earth or remove trees, unless a grading permit has been approved by the City Engineer <br />following approval of a preliminary plat by the City Council, construct sewer lines, water lines, streets, utilities, <br />public or private improvements, or any buildings until all the following conditions have been satisfied: 1) this <br />agreement has been fully executed by both parties and filed with the City Clerk, 2) the necessary security has <br />been received by the City, 3) the necessary insurance for the Developer and its construction contractors has <br />Page 218 of 309