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ARDEN PLAZA REDEVELOPMENT PLANNED UNIT DEVELOPMENT MASTER PLAN FINAL PLAT -ARDEN PLAZA REDEVELOPMENT PLANNED UNIT DEVELOPMENT FINAL PLAN -PHASE 1 DEVELOPMENT AGREEMENT PHASE 1 PC# 09 -011 1.0 Parties. This Development Agreement is dated the 13th day of July, 2009 and is entered into by and between the City of Arden Hills, a Minnesota statutory city ( "City "); and Arden Plaza, LLC, a Minnesota limited liability corporation ( "Arden Plaza "). 2.0 Recitals. A. Arden Plaza is the record fee owner of the following described property ( "Property ") situated in the City of Arden Hills, County of Ramsey, State of Minnesota: The north 872 feet of the east one -half (1 /2) of the northeast quarter of Section 34, Township 30 north, Range 23 west, except the west 625 feet thereof; excepting from the above described Tract, the west 200 feet of the north 283 feet. Subject to rights of public, those portions thereof taken for highways, said portions being the north 43 feet thereof and the east 33 feet thereof and that part thereof lying north and east of the connecting curb. B. The Property is being platted as Lots 1, 2, 3, and 4, Block 1, Arden Plaza Redevelopment. C. On the 4th day of April, 2009, Arden Plaza submitted an application requesting the approval of a Plan Unit Development Master Plan ( "PUD- Master Plan ") for the Property; a combined preliminary /final plat ( "Final Plat ") for the Property; and a Planned Unit Development Final Plan ( "PUD -Final Plan ") for a portion of the Property ( "Arden Plaza Application "). D. The PUD- Master Plan, the Final Plat and the PUD -Final Plan for a portion of the Property are illustrated and described on the following documents ( "Redevelopment Plan Documents ") attached and incorporated herein. 1. Cover sheet dated 5/4/09, as revised on 5/22/09;