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DEVELOPMENT & SUBDIVISION AGREEMENT <br /> FAIRVIEW SECONDADDITION <br /> THIS DEVELOPMENT & SUBDIVISION AGREEMENT (“Agreement”) effective <br />May 25, 2022, by and between the CITY OF CENTERVILLE, a Minnesota municipal <br />corporation (“City”); and \[TBD, LLC, a Delaware limited liability company (“Buyer”)\], <br />\[_________________\] (the “Owner”). <br />1.REQUEST FOR PLAT AND DEVELOPMENT APPROVAL. Owner is under <br />contract with Rehbein Properties, a Minnesota Partnership to acquire certain real property that is <br />situated in the County of Anoka, State of Minnesota, and legally described on the attached Exhibit <br />A, including easements described therein (the “Land”). Owner has asked the City to approve a <br />final plat for FAIRVIEW SECOND ADDITION (referred to in this Agreement as the “Final <br />Plat”) Owner seeks approval of the Final Plat for Owner’s intended development of an <br />approximately 140,000 square foot office, truck terminal, and warehouse building, together with <br />ancillary parking on the Land (the “Project”). The Project will consist of construction of the general <br />infrastructure to serve the parcel and development of Fairview Street. <br />2. CONDITIONS OF PLAT AND DEVELOPMENT APPROVAL. At such time <br />as the City approves the Final Plat, Planned Unit Development, land use documents such as a <br />DEVELOPMENT & SUBDIVISION AGREEMENT <br />CENTERVILLE AND BANJO <br />Draft Version 05/20/2022v3 – for Council Packet- Page 2 <br /> <br />