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�I <br />C�TY OF ARDEN HILLS <br />ARDEN ViLLAGE <br />DEVEitiPA�ENT AGREEMENT <br />PC# 09-021 <br />1.0 �ti���,�. This Deveiopment Agreement is dated the 8th day of March, 2010, and is <br />entered 'znta by and i�etween the City of Arden Hills, a iviinnesata statutory city <br />("City"); and Arden Village, LLC, a Minnesota Iimited liability corporation ("`Arden <br />Viltage"). <br />2.0 Recita, l�. <br />A. llS Bank, Nationral Association, as Personai Representative of the Estate of — <br />George J. Reiling ("US Bank"} is the record awner of the fo]]owing described <br />property ("Property"} located in the City of Arden Hills, County of Ramsey, — <br />State of Minnesota to wit: <br />That part of the Northwest Quarter of the Northwest � <br />Quarter of the Northeast Quarter (NW 1/4 of 1VW �i"4 ofNE <br />',��} af Section 27, Township 30, Range 23, described as <br />follaws: Starting at the Northwest corner af ehe <br />NortheasC Quarter (NE �4} of Section 27; thence East on <br />� the North line thereof faur hundred and six (406) feet to <br />the place of beginning; thence East 208.75 feet alang the <br />Narth lin� of Sectian 27; thence South alang a]ine <br />which is paraltei ta and c�astant &�.�.?� feet Easterly of <br />the '(A�est line of said Nartheast Quarter {NE �/4} ta the <br />NQrth right-of-way line af interstate Highway #694; <br />thenee Nc�rthwesterly a]ong the North right-of-way line <br />af Interstate Highway #644 ta a point therean which is <br />located four hundred and six (406) feet Easterly of the <br />West line of said Nartheast Quarter �NE �14�; Chenee <br />North a line paraliel to and distant four hundred and six <br />(4Q6j feet East�rly of the West line c�f said Northeast , <br />Quarter (NE �/4 � ta the paint af beginning. ' <br />B. US Bank has agreed to convey the Praperty to Arden Village. <br />C. Arden Viitage wilt final piat the Property as Lots 1 and 2, Biock 1, Arden <br />Village. A medium density residential dweiiing wi1l be constructed on Lot 1, <br />Block 1, Arden Village. A ccrmmunications tower and accessory buildings are <br />currently located an Lot 2, Block l, Arden Viliage and will remain. <br />D. Qn the 9th day of November, 2409, Arden Village submitted an applicatiQn <br />requesting the approval af a Combined PreliminaryJFinat Pia� for Lois 1 and <br />� <br />