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ARDEIv PLAZA REDEVEL4PMEN'T <br />REDEVELOPIVIENT AGRE�MENT PHASE I <br />Ai��EI�TDIVIENT NO. 1 <br />PC# �0-00� <br />�.0 Parties. This Redevelopment Agreement is dated the � 4th day of �une, 2fl 10 and is <br />entered into by and between the City of Arden H�lls, a Min.�esota statutory cit� ("City"); <br />and Arden Plaza, LLC, a 1V�innesota Iimited iia�ility corporation ("Arden �'laza"�. <br />2.0 Recitals. <br />A. Arden Plaza is the record fee ow�er o� the fo�lowing des�ribed property <br />("Property") situated in the City of Arden Hills, County of Rar�sey, Szate of <br />. <br />M�nnesota: <br />T�ie north 8 72 feet of the east one-half (1 /2) of the <br />nartheast quarter of Sectior� 34, Towns�i� 30 north, <br />�ange 23 west, except the west �25 feet t�iereof; <br />excepting from the above described Tract, the vv�st <br />200 feet of the north 283 feet. <br />Subject to rights of public, those �ortions thereof <br />taken for �ighways, said �oriions being the north 43 <br />feet t�ereof and the east 33 feet �hereof and that pari <br />thereof lying north and east of the connecting cur�. <br />B. T�ie Proper#y is being pla#ted as Lots �, 2, 3, and 4, Block l, Arden �laza <br />Redevelo�ment. <br />C. The use and �ede�elopment of the Property is subject to the City's Development <br />Reguiations and the t�rr�s a�d condit�ons of that ce�rtain document �"�rigir�al <br />Redevelopment Agree�nent") �.��roved by t�e City on July 13, 2009, in <br />connection with the City's review of City P�anning �ile PC#09-011. <br />�. �n the 5�' day of Apr�l, �O l�, A.�den Plaza subn�itted an a lication to arr�end t�e <br />pi� <br />Original Redevelopment Agreement, general�y, as it r�lates io t�e ov�ra�l phasing <br />of the redevelopr�ent of the Propert� and specifically as i# re�ates to t�e <br />�edeveioprrient of proposed �ot 3, B�ock l, Arden Plaza. The Redevelop���t and <br />the construction of �uild�ng 3 on said lot (�ierein "Arnendment I�Tc�. 1"). <br />E. �`he Arder� P�aza a�plication to approve A�nendrr�ent �o. 1 was submitted on City <br />app�oved forn�s together with the follovving documents: <br />1. Written statement co�sisting of pages 1 and 2 dated April 2, 2010. <br />2. Site Plan dated March 29, 2010. <br />