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A RESOLUTION ADOPTING REVISED DEVELOPMENT AGREEMENT <br />AND <br />CONDITIONAL USE PERMIT <br />WHEREAS, RICHARD A. DEFOE AND KARNA 1. DEFOE, ("Developer"), are the �fbe <br />owners of the Plat for BAY VIEW VILLAS, and will soon transfer ownership to BAYVIEW <br />VILLAS, LLC (also Imown as the "Developer"). The City desires to facility that property <br />transfer by revising its land use documents to reflect this property transfer. <br />WHEREAS, executing a revised Development Agreement and Conditional Use Permit will name <br />the new property owner, Bayview Villas, LLC.. <br />WHEREAS, pursuant to the City's requirements, the I 00-day deadline to record the Bay View <br />Villas Plat expired on 8/30/2019. Entering into a newly dated Development Agreement will reset <br />that 1 00-day deadline. <br />11: <br />Chase Bank and the I.R.S., and the new mortgage from Lake Elmo Bank. <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Centervill <br />Minnesota, does Ordain, and i <br />1. AUTHORIZES AND APPROVES EXECUTION of the attached, revised, Development <br />and Subdivision Agreement, and Conditional Use Permit that reflect a transfer of the real <br />property of Bay View Villas from ownership by the DeFoe family into a Limited <br />Liability Company for development of that land. <br />2. APPROVES a revised Development and Subdivision Agreement effective from the date <br />of this Resolution, that in part, <br />a. Allows the Plat for Bay View Villas to be recorded no later than within 100 days <br />from today, <br />b. Allows for the temporary presence of two hens to be recorded before the priority <br />of the Plat Conditional Use Permit and this Agreement; <br />c. Allows for the permanent presence of the mortgage written from Lake Elmo <br />Bank recorded in priority before the Plat, Conditional Use Permit and this <br />Agreement but making conditional on the Bank's execution of a subomation <br />agreement. <br />