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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 ;!'j'!;!' day Of..0A"~ ' 2001, by and between <br />the City of Centeniille, a municipal corporation organized under the laws 0 e 'State ofMinnesota,(the <br />"City"), and CentervilIe 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 of the mutual promises of the parties made herein, it is agreed by <br />and between the parties as follows: <br /> <br />A. <br /> <br />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 />c. <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 exhIlJit A. <br /> <br />1. Cost of Private Improvements, desctiption: <br /> <br />a Approx. 470 feet 'of 6' decorative fence <br /> <br />$7050 <br /> <br />b. Landscaping as proposed in the site plan and <br />(Attached as ExhIbit A) <br /> <br />$7500 <br /> <br />c. Approx. 325, feet of eight (8) foot wide bitumioous trail <br /> <br />$3250 <br /> <br />d. Sod/seed in the common areas <br /> <br />$3000 <br /> <br />Total Estimated Cost <br /> <br />$20,800 <br /> <br />Developer Retaioage (150%) <br /> <br />$31,200 <br />