04-30-07 Item 7E, County Road H Interchange Improvement

Home Browse Search

FIRST AMENDMENT TO PRELIMINARY DEVELOPMENT AGREEMENT TillS AGREEMENT is made and entered into as of this day of ,2007 by and between the CITY OF ARDEN illLLS, a Minnesota municipal corporation (the "City"), and RRLD, LLC, a Delaware limited liability company (the "Developer"). RECITALS WHEREAS, the City and Developer entered into that certain Preliminary Development Agreement dated March 30, 2007 (the "PDA"); and WHEREAS, the parties have determined a need to amend the PDA as further described herein; NOW, THEREFORE, in consideration of the covenants and obligations of the parties hereto, the City and the Developer hereby agree as follows: 1. Section 5 of the PDAis amended to add anew paragraph (g) as follows: (g) The City and Developer have determined that the Development may require certain improvements to the intersection of County Road H and Interstate 35W (referred to as the "County Road H Project"). The City proposes to apply for grants from the federal government, the State of Minnesota, Ramsey County and the Metropolitan Council to pay all or part of the costs of the County Road H Project. However, in order to proceed with that project on a timely basis, the Developer agrees to undertake and pay all costs of pre-design (and similar preliminary work that is usual and customary for road and interchange projects) for the County Road H Project. The City will promptly reimburse Developer for such preliminary costs if and to the extent the City receives grant funds from any sources named above. Any Developer expenditures under this paragraph are in addition to, and not part of, the City Reimbursable Costs described in Exhibit D. However, if and to the extent Developer is not reimbursed for any County Road H Project pre-design costs during the term of this Agreement, such costs incurred by Developer will be Developer Reimbursable Costs, subject to all the terms and conditions of Section 5(f)(2) and Exhibit E of this Agreement. The City has no obligation to reimburse Developer for any County Road H Project costs except to the extent provided in this paragraph and Section 5(f)(2). 2. Exhibit E of the PDA is hereby modified to add as Item 8: Pre-design for County Road H Project. 3. The PDA remains in full force and effect and is not modified except as expressly provided herein.