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DEVELOPMENT CONTRACT <br /> ROYAL INDUSTRIAL PARK <br /> CENTERVII.i.F, MINNESOTA <br /> THIS AGREEMENT, made and entered into this day of , 19 , by and <br /> between the City of Centerville, a municipal corporation organized under the laws of the State of <br /> Minnesota (the "City"), and Royal Oaks Realty, Inc., a Minnesota Corporation (the "Developer "). <br /> RECITALS: <br /> WHEREAS, the Developer has received approval from the City Council for a preliminary plat of land <br /> within the corporate limits of the City, which plat is known as Royal Industrial Park, hereinafter called <br /> "Subdivision"; and <br /> WHEREAS, the Developer has applied to the City to be allowed to at the Developer's expense to construct <br /> all surface streets, curb and gutter, required landscaping, storm sewer, storm water ponds, drainage <br /> facilities, water main and sanitary sewer facilities, hereinafter referred to as "Street and Utility <br /> Improvements "; and <br /> WHEREAS, the Developer is to be responsible for the installation and financing of certain private <br /> improvements within the plat, hereinafter referred to as "Private Improvements ". <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 /> 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 /> 1. That the Developer is the fee owner of the property and has authority to enter into this <br /> Agreement. <br /> 2. That the subdivision complies with all City, County, State and Federal laws and <br /> regulations, including but not limited to City subdivision ordinances and zoning <br /> ordinances. <br /> 3. The subdivision complies with all wetland protection legislation. <br /> B. PRIVATE IMPROVEMENTS. The Developer will construct and install at Developer's expense <br /> the general improvement constriction according to ordinance #8, Section 38.01 and other <br /> improvements specific to the development herein set forth: <br /> 1. Cost of Private hnprovements, description: <br /> a. Street name signs (installed by the City) <br /> approximately 2 @ $250 each $ 500 <br /> b. Traffic signs, stop signs, etc. <br /> (installed by the City) approximately 2 @ $200 $ 400 <br /> c. Utility markers <br /> approximately 2 @ $200 each $ 400 <br /> d. Street sweeping <br />