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<br />JOINT DEVELOPMENT AGREEMENT <br /> <br />,THIS AGREEMENT, made as of the ___ day of , 1986, by <br />and between the City of Roseville, Minnesota (the "City"), a mu- <br />nicipal corporation and political and subdivision organized and <br />existing under the Constitution and laws of the State of <br />Minnesota, Lexington Plaza Associates, a general partnership <br />organized and existing under the laws of the State of Minnesota, <br />and Plaza Shoppes Associates, a general partnership organized and <br />existing under the laws of the State of Minnesota (collectively, <br />the "Developers"), <br /> <br />WITNESSETH: <br /> <br />WHEREAS, Lexington Plaza Associates is the owner of an exist- <br />ing shopping center located in the City immediately to the east <br />of Lexington Avenue, known as' Lexington Plaza Shopping Center <br />(hereinafter, the "Existing Development") located on the real <br />estate described on Exhibit A attached hereto; <br /> <br />WHEREAS, Plaza Shoppes Associates desires to construct a new <br />shopping center in the City immediately to the west of Lexington <br />Avenue to be known as Lexington Plaza Shoppes (hereinafter, the <br />"Project"), to be located on the real estate described on Exhibit <br />B attached hereto; <br /> <br />WHEREAS, parking and related public improvements for the <br />Existing Development and the Project are interrelated to the ex- <br />tent set forth in this Agreement; and <br /> <br />WHEREAS, the City believes that the development of the Pro- <br />ject is in the best interests of the City. <br /> <br />NOW, THEREFORE, in consideration of the premises and the <br />mutual obligations of the parties hereto, each of them does here- <br />by covenant and agree with the other as follows: <br /> <br />~ <br /> <br />2 <br />