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<br />/ <br />1\,. <br />, .r if'...tJ <br />." :~. <br /> <br />,,'(-: ., e <br /> <br />DEVELOPMENT CONTRACT <br />CLEARWATER MEADOWS <br />. . <br /> <br />(City Installed Improvements) <br /> <br />. . . . <br />TIllS AGREEMENT made this 10th day of June, 1996, is by and between the <br />City of Centerville, whose addr~ is 1880 Main Street, Centerville, Mn 55038, a <br />municipal corporation organized under the law of the State ofMinneso~ hereinafter <br />referred to as the "City", and K-G Development, Inc., a MinnesOta cOrporation, whose <br />address. is 7526 ." 4th Avenu~ Lino~Lak:es, MN 55014, .hereina:fter.referred,tn.asthe.. . <br />"Developer"': . .. .. ", <br />WHEREAS, the Developer has received approval from the City Council for a <br />preliminary plat of land within the corporate limits of the City known as Clearwater <br />MeadQws, hereinafter called "Subdivision"; and <br />WHEREAS, the DeVeloper has requested that the CIty construct and finance . . <br />certain improvements to serve the plat; and <br />WHEREAS, the Developer is to be responsible for the installation and financing of <br />certain private improvements within the plat; and <br />WHEREAS, the Developer has petitioned the City ofCenterville to undertake <br />certain public improvements within the plat; and <br />WHEREAS, said City Subdivision Ordinance and Minnesota Statute 462.358 <br />authorize the City to enter into a performance contract secured by a bond, cash escrow or <br />. other security to guarantee completion and payment of such improvements following final <br />approval and recording of final plat; <br />WHEREAS, Minnesota Statute 429 provides a method for assessing the cost of <br />City installed improvements.to the benefited property; and <br />WHEREAS, the City of Centerville has adopted an interim policy for a storm <br />. water charge for development within the City, and the City of Centerville is in the process <br />of developing a final storm water fee structure for new developments. <br />NOW, THEREFORE, in conmderation of the mutual promises of the parties made <br />.her~ . <br />IT IS AGREED BY AND BETWEEN THE PARTIES HERETO: <br />1. DEVELOPER'S IMPROVEMENTS. The Developer will construct and install at <br />Developer's expense the general improvement construction according to Ordinance #8, <br />Section 38.01 and other improvements specific to the development herein set forth. <br /> <br />A Cost of Developer's Improvements, description: <br />1. Street names and traffic signs . <br />approximately 7 signs @ $250/each <br />(2 Stop Signs - 3 Dead End Signs - 2 Street Signs) <br />2. Establish monuments at lot comers <br />36 lots x $250 <br />3. Street sweeping 3 each @ $600 <br />4. Signage and barricades 3 each for one <br />year x $2oo/each <br /> <br />$ 1,750.00 <br /> <br />$ 9,000.00 <br />$ 1,800.00 <br /> <br />$ 600.00 <br /> <br />K-GDEV.WPS <br /> <br />Page 1 <br />