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.... ~ Lakeland Hills Development Agreement DEVELOPER'S COPY FINAL January 5, 1998 DEVELOP:MENT CONTRACT LAKELAND HILLS CENTERVlLLE,MINNESOTA (Developer Installed Improvements) TillS AGREEMENT, made this :z. J. day of htee.rnhtv , 1997, is by and between the City of Centerville, whose address is 1880 Main Street, Centerville, Minnesota 55038, a municipal corporation organized under the laws of the State of Minnesota, hereinafter referred to as the "City", and Royal Oaks Realty, a Minnesota corporation, whose address is 4196 Lexington Avenue, Shoreview, MN 55126, hereinafter referred to as the "Developer". WHEREAS, the Developer has received approval from the City Council for a preliminary plat of land within the corporate limits of the City known as Lakeland Hills, hereinafter called "Subdivision"; and WHEREAS, the Developer has applied to the City to be allowed at the Developer's expense to construct all surfaced streets, curb and gutter, required landscaping, storm sewer, stormwater ponds, drainage facilities, watermain and sanitary sewer facilities, hereinafter referred to as Street and Utility Improvements; and WHEREAS, the Developer is to be responsible for the installation and financing of certain private improvements within the plat, hereinafter referred to as Private Improvements; NOW, THEREFORE, in consideration of the mutual promises of the parties made herein, IT IS AGREED BY AND BETWEEN THE PARTIES HERETO: A. PRIVATE IMPROVEMENTS. The Developer will construct and install at Developer's expense the general improvement construction according to ordinance #8, Section 38.01 and other improvements specific to the development herein set forth. 1. Cost of Private Improvements, description: a. Street name signs (installed by the City) approximately 3 @ $250/each $750 b. Traffic signs, stop sign, dead-end, etc. (installed by the City) approximately 5 @ $200/each $1,000 c. Utility markers approximately 10 @ $200 $2,000 260/083-1904.feb Page]