2019-05-08 CC Packet - Laserfiche WebLink

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CITY OF CENTERVILLE ESCROW AGREEMENT FOR DEVELOPMENT Second Agreement This Escrow Agreement is entered into effective this 8th day of May 2019 by and between the CITY OF CENTERVILLE (the "City"), and Elmcrest Vistas, a Minnesota limited liability corporation, (the "Developer"), its successors and assigns, and provides for the following: WHEREFORE: 1. Developer now requests to proceed with development having previously entering into an Escrow Agreement For Development for the purpose of planning and obtaining land use approvals. 2. Developer now requests permission to begin grading on the Real Property, described below. RECITALS: 1. Developer has applied for land use permissions from the City for the development of real property (the"Real Property"), respectively, legally described as: The North half of the North half of the Northwest quarter of the Southeast quarter of Section 14, Township 31, Range 22, except the public road, subject to easements of record; and, The South half of the North half of the Northwest quarter of the Southeast quarter of Section 14, Township 31, Range 22, except the public road, subject to easements of record. 2. The City will expend resources processing said land use applications and in other efforts for the development of the Real Property. 3. Pursuant to City Ordinances, the City must collect cost escrows for a variety of land use and remediation measures including, but not limited to site maintenance, financial security, ground cover, screening, grading, stormwater pollution plan, staff, engineering and legal costs. 4. The escrow sums in this Agreement do not include applicable governmental fees. NOW THEREFORE,in consideration of the foregoing and the mutual covenants hereinafter set forth, the parties hereto agree as follows: Page 1 of 5 38