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ARDEN PLAZA REDEVELOPMENT <br />PLANNED UNIT DEVELOPMENT MASTER PLAN <br />FINAL PLAT — ARDEN PLAZA REDEVELOPMENT <br />PLANNED UNIT DEVELOPMENT FINAL PLAN — PHASE I <br />DEVELOPMENT AGREEMENT <br />AMENDMENT NO. 1 <br />PC# 10-008 <br />1.4 Parties. This Redevelopment Agreement is dated the 12th day of July, 2010 and is <br />entered into by and between the City of Arden Hills, a Minnesota statutory city ("City"); <br />and Arden Plaza, LLC, a Minnesota limited liability corporation ("Arden Plaza"). <br />2.0 Recitals. <br />A. Arden Plaza is the record fee owner of the following described property <br />("Property") situated in the City of Arden Hills, County of Ramsey, State of <br />. <br />Mlnnesota: <br />The north 872 feet of the east one-half (1 /2) of the <br />northeast quarter o f S ection 3 4, Township 3 0 north, <br />Range 23 west, except the west 625 feet thereof; <br />excepting from the above described Tract, the west <br />200 feet of the north 283 feet. <br />Subj ect to rights of public, those portions thereof <br />taken for highways, said portions being the north 43 <br />feet thereof and the east 33 feet thereof and that part <br />thereof lying north and east of the connecting curb. <br />B. The Property is being platted as Lots 1, 2, 3, and 4, Block 1, Arden Plaza <br />Redevelopment. <br />C. The use and redevelopment of the Property is subj ect to the City's Development <br />Regulations and the terms and conditions of that certain document ("Original <br />Redevelopment Agreement") approved by the City on July 13, 2009, in <br />connection with the City's review of City Planning File PC#09-01 l. <br />D. On the Sth day of April, 2010, Arden Plaza submitted an application to amend the <br />Original Redevelopment Agreement, generally, as it relates to the overall phasing <br />of the redevelopment of the Property and speci� cally as it relates to the <br />redevelopment of proposed Lot 3, Block l, Arden Plaza (Amendment No. 1). <br />E. The Arden Plaza application to approve Amendment No. 1 was submitted on City <br />approved forms together with the following documents: <br />1. Written statement consisting of pages 1 and 2 dated April 2, 2010. <br />