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<br />" <br /> <br />DEVELOPMENT CONTRACT <br /> <br />DRILLING RETAIL CENTER <br /> <br />CENTERVILLE, MINNESOTA <br /> <br />TillS AGREEMENT, made and entered into this day of ,2001, by and between <br />the City ofCenterville, a municipal corporation organized under the laws of the State of Minnesota (the <br />"City"), and Centerville Properties, Inc., a Minnesota Corporation (the "Developer"). <br /> <br />RECITALS: <br /> <br />WHEREAS, the Developer has applied to the City to be allowed at the Developer's expense to construct <br />all surface streets, parking lots, curb and gutter, required landscaping, storm sewer, storm water ponds, <br />drainage facilities, water main, trailways and sanitary sewer facilities, hereinafter referred to as "Street <br />and Utility Improvements"; and <br /> <br />WHEREAS, the Developer is to be responsible for the installation and financing of certain private <br />improvements within the development, hereinafter referred to as "Private Improvements". <br /> <br />NOW, THEREFORE, in consideration ofthe mutual promises of the parties made herein, it is agreed by <br />and between the parties as follows: <br /> <br />A. REPRESENTATIONS OF DEVELOPER As inducement to the City's approval and <br />authorization to proceed with construction and entering into this Agreement, the Developer <br />represents and warrants to the City: <br /> <br />1. That the Developer is the fee owner of the property and has authority to enter into this <br />Agreement. <br /> <br />2. That the commercial development complies with all City, County, State and Federal <br />laws and regulations, including but not limited to City subdivision ordinances and <br />zoning ordinances. <br /> <br />3. The commercial development complies with all wetland protection legislation. <br /> <br />b. PRIVATE IMPROVEMENTS. The Developer will construct and install at Developer's expense <br />the general improvement construction according to the detailed plans submitted for development <br />approval and attached and listed as exhibit A. <br /> <br />1. Cost of Private Improvements, description: <br /> a. Approx. 470 feet of 6' decorative fence $7050 <br /> b. Landscaping as proposed in the site plan and <br /> (Attached as Exhibit A) $7500 <br /> c. Approx. 325 feet of eight (8) foot wide bituminous trail $3250 <br /> d. Sod/seed in the common areas $3000 <br /> Total Estimated Cost $20,800 <br /> Developer Retainage (150%) $31,200 <br />