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<br />of $12,552 prior to the execution of the Final Plat by the City <br />of Arden Hills or pursuant to a payment schedule reviewed <br />and approved by the City Attorney. The balance of the Park <br />Dedication Fee shall accrue interest at the rate of six point <br />five percent (6.5%) per annum starting from March 12,2007. <br /> <br /> <br />IN WITNESS WHEREOF, the City and Developer have caused this Agreement to be executed <br />as of the date and year first above written. <br /> <br />Pursuant to Authorization of the City Council <br />on the 10th day of September, 2007. <br /> <br />CITY OF ARDEN HILLS, <br />a Minnesota statutory city <br /> <br />By <br />Stanley Harpstead <br />Mayor <br /> <br />DEVELOPER: <br /> <br />Arlene P. Boutin <br /> <br />2 <br />