CCP 12-09-2002 - Laserfiche WebLink

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DEVELOPMENT AGREEMENT CITY OF ARDEN HILLS K.T.J, LIMITED PARTNERSHIP SEVENTY NINE . 1.0 PARTIES, This Agreement is dated the 9th day of December, 2002, and is entered into by and between City of Arden Hills, a Minnesota municipal corporation (herein "City"); and KTJ Limited Partnership Seventy Nine, a Minnesota limited partnership, and its Successors and assigns (herein "Developer"), 2.0 RECITALS A. Developer is the record fee owner of the property described on Exhibit A, attached hereto ("Cub Foods Site"), B. The Cub Foods Site is adjacent to a shopping mall ("Shannon Square Site") which property is described on Exhibit A attached and incorporated herein, C. The approved site plans for the Cub Foods Site and the Shannon Square Site are illustrated on Exhibit B attached and incorporated herein. D. Developer has requested that the City approve a Planned Unit Development . ("PUD") which will encompass the Cub Foods Site and the Shannon Square Site (collectively, the "Property''). E. On the 9th day of September, 2002, the City approved the Master and Final Plan PUD fOr the Property subject to the execution of this Development Agreement by the parties, 3.0 TERMS AND CONDITIONS. NOW, THEREFORE, in reliance upon the representations contained herein; in compliance with the City's Zoning and Subdivision Regulations; and in consideration of the mumal undertakings herein expressed, the parties agree as follows: A. Developer Improvements. The Developer shall conslrtIct the following improvements to the Property in compliance with plans and specifications, attached and incorporated herein in Exhibit B. Construction plans and specifications will be reviewed and approved by the City's Consulting Engineer. 1. Site Grading and Turf Restoration. Site grading improvements shall include common excavation, subgrade correction, embankment and pond excavation. Turf restoration shall include seeding, mulching and erosion control, as illustrated in Exhibit B. .