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Developer Agreement <br />Renner 4`" Addition <br />Page 3 <br />DEVELOPER AGREEMENT <br />FOR <br />RENNER 4TH ADDITION <br />THIS AGREEMENT, made and entered into this 4~ day of August, 2008, by and between <br />the CITY OF ELK RIVER, a municipal corporation organized under the laws of the State of <br />Minnesota (the City), and Renner Land Development, LLC., (the Developer). <br />WITNESSETH: <br />WHEREAS, the Developer has made application to the City for approval of a final plat of <br />land within the City described on Exhibit A attached hereto (the Subdivision); and <br />WHEREAS, the City Council adopted Resolution No. 08 - 42 on June 16, 2008, (attached as <br />Exhibit A hereto) granting final plat approval to the Subdivision, subject to several conditions, <br />including a condition that Developer enter into an agreement with the City governing the provision <br />of certain utilities, services and facilities to the Subdivision and the transfer of certain land interests <br />and payments to the City, so as to fully comply with the Subdivision Ordinance; <br />NOW, THEREFORE, in consideration of the premises and the mutual promises and <br />conditions hereinafter contained, it is hereby agreed as follows: <br />1_,) Warrani_y of Developer -Developer hereby warrants and represents to the City, as inducement <br />to the City's entering into this Agreement, that Developer is the owner of certain real property <br />"THE PROPERTY" legally described in EXHIBIT B attached hereto consisting of 21.20 acres of <br />unimproved land located in the City of Elk River, Sherburne County, Minnesota. The Developer <br />intends to improve and develop The Property for Light Industrial use "THE DEVELOPMENT", <br />or "THE. PROJECT" OR "THE SUBDIVISION". A reduced copy of the proposed final plat <br />is attached as EXHIBIT C. <br />2.) Improvements - In accordance with the application materials submitted by Developer, the <br />preliminary and final plats of the Subdivision, the City Council Resolution attached as Exhibit A <br />hereto, and the applicable standards and ordinances of the City, the following described <br />Improvements (the Improvements) shall be constructed and installed on the terms and conditions <br />hereinafter contained: <br />(01) Site grading to elevations shown in the approved grading and drainage (Site <br />Grading); <br />C:\Documents and Settings\jmiller\Local Settings\Temporary Internet Files\OLK3E\DEVELOPER AGREEMENT.doc <br />