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CONTRACT FOR PRfVATE DEVELOPMENT TmS AGREEMENT, effective theciL It- day of~ 2001 by and between the City of Roseville, a body c01porate and politic under the laws of the State of Minnesota, having its principal office at 2660 Civic Center Drive, Roseville, Minnesota 55113 ("City"), and Greater Minneapolis Metropolitan Housing C01poration, a Minnesota Nonprofit C01poration ("GMMHC"), having its principal office at 15 South Fifth Street, Suite 710 Minneapolis Minnesota 55402. WITNESSETH WHEREAS, the City of Roseville ("City") has adopted a Housing Replacement Program (the "Program") and contracted with the GMMHC to assist in the administration of the Program; and WHEREAS, the City has adopted program guidelines outlining the objectives and operation of the Program; and WHEREAS, in order to achieve these objectives of removing blighting influences in the community and increasing the availability of move-up housing, the City has detennined to access and provide substantial aid and assistance to the Program; and WHEREAS, the City has identified and acquired a property that meets the Program guidelines and will promote and carry out the objectives for which the Program has been undertaken, that will be in the vital best interests of the City and the health, safety and welfare of its residents and is in accord with the public pmposes and provisions of the applicable state and local laws and requirements under which development through the Program has been undertaken and may be being assisted. NOW, THEREFORE, in consideration of the mutual covenants and obligation of the City and the GMMHC, each party does hereby represent, covenant and agee with the other as follows: ARTICLE I. DEFINITIONS, EXHIBITS, RULES OF INTERPRETATION Section 1.1. Defmitions. In this Agreement, the following tenns have the meaning given below unless the context clearly requires otherwise: (a) City. The City ofRoseville, Minnesota. (b) Construction Plans. Collectively, the plans, drawings and related documents related to the Improvements, which are listed on Exhibit D. (c) GMMHC. Greater Minneapolis Metropolitan Housing C01poration, a Minnesota Nonprofit C01poration. (d) Development. The Property and the Improvements to be constructed thereon according to the Construction Plans approved by the City. (e) Homeowner. A purchaser for value of the Property but not including any individual, c01poration or entity related to the GMMHC. (f) Improvements. Each and all of the structures and site improvements constructed on the Property by the GMMHC, as specified in the Construction Plans approved by the City. 1