03.02A Final Plat of The Range - Development Agreement

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DEVELOPMENT AGREEMENT The Range THIS AGREEMENT,made and entered into this day of 2020, By and between the City of Pequot Lakes, a municipal corporation organized under the laws of the State of Minnesota(the"City"); and Premier Homes, Inc. (the"Developer"). RECITALS: WHEREAS,the City approved the conditional use permit,preliminary and final plat for the Developer entitled"The Range", subject to execution of this Agreement; and WHEREAS, the property that is the subject of this Agreement is legally described as follows (the"Property"): Legal Description and Final Plat attached hereto as Exhibit A WHEREAS,the Developer has received approval from the City Council for a plat of land within the corporate limits of the City known as The Range, hereinafter called "Subdivision/Plat/Development" (legal description attached as Exhibit A); and WHEREAS, the City Code and Minnesota Statute 462.358 authorize the City to enter into a performance contract secured by cash escrow, letter of credit, or other security to guarantee completion and payment of such improvements following final approval and recording of final plat including payment of the City's legal and engineering fees and expenses; and NOW, THEREFORE, in consideration of the premises and the mutual promises and conditions hereinafter contained, it is agreed as follows: I. Approvals. A. Subject to the terms and conditions of this Agreement, the City hereby approves the recording the Conditional Use Permit and Plat knows as The Range. B. The Developer agrees that the Plat shall be developed in accordance with the following documents and exhibits attached hereto, including plans and specifications for improvements, which are hereby incorporated by reference as if fully set forth herein: 1. Preliminary Plat 2. Final Plat 3. Grading, Development, Erosion Control, Drainage, Utility and Road Plans 4. Landscaping Plan 5. Sanitary Sewer Plan