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HomeMy WebLinkAbout10A Resolution Approving Minor Amendment to Planned Unit Development and Final PlatO� P RIp U t ' CITY COUNCIL AGENDA REPORT MEETING DATE: FEBRUARY 7, 2011 AGENDA #: 10A PREPARED BY: JEFF MATZKE, PLANNER PRESENTER: JEFF MATZKE AGENDA ITEM: CONSIDER APPROVAL OF A RESOLUTION APPROVING A MINOR AMENDMENT TO A PLANNED UNIT DEVELOPMENT PLAN KNOWN AS JEFFERS POND AND A RESOLUTION APPROVING A FINAL PLAT TO BE KNOWN AS JEFFERS WATERFRONT ADDITION DISCUSSION: Introduction Mattamy Homes has applied for approval of a minor amendment to the Planned Unit Development (PUD) known as Jeffers Pond and approval of a Final Plat to be known as Jeffers Waterfront Addition. The area of consideration for the minor PUD Amendment and Final Plat applies to Outlot E of Jeffers Pond (known as the Parkside townhomes). The site is located on the south side of Jeffers Parkway, east of McKenna Road, '/4 mile south of CSAH 42, and 1 /2 mile west of CSAH 21. The applications include the following requests: • Approve a minor Amendment to the Jeffers Pond Planned Unit Development • Approve a Final plat to be known as Jeffers Waterfront Addition History In 2005, the City Council approved a PUD for the approximately 336 acre Jeffers Pond mixed use development including the following elements: • Mix of land uses including commercial retail and office; low, medium, and high density residential; and public institutional and municipal sites • Up to 693 total residential units. • An active park of at least 4.6 acres (Jeffers Pond Park) • An fire station site (Prior Lake Station #2) • An elementary school site (Jeffers Pond Elementary School) • Public parkland and trails (over 145 acres of parkland has been created) Three phases within the PUD development have been platted including sites for 119 single family homes, 101 townhomes, Jeffers Pond Elementary School, and Prior Lake Fire Station #2. Current Circumstances The current PUD Amendment involves a request to modify the next phase of the development — known as Parkside. The originally approved PUD identifies 64 townhome units on a 7.37 acre site accessed by a single private street known as Parkside Court. The townhomes are grouped into 4 -unit and 6 -unit Phone 952.447.9800 / Fax 952.447.4245 / www.cityofpriorlak-e.com buildings. The developer, Mattamy Homes, is requesting to reduce the proposed width of the interior units from a width of 26' to 24' while maintaining larger end units of 28' wide. In addition the developer is requesting to reduce the originally approved impervious surface of the 64 townhome area from 176,745 square feet to 166,446 square feet, a 6% reduction in overall impervious surface. This accounts for an average of 144 square foot reduction per lot. The developer has submitted conceptual elevations (attached) of the townhome product type; however, he states that the final elevations and building plans have yet to be completed for this proposed development. Subject to approval of the minor PUD amendment, the developer has requested approval of a Final Plat to be known as Jeffers Waterfront Addition. The final plat consists of 7.37 acres to be subdivided into 64 townhome lots and lot 65 for private street and common area purposes. The developer would be required to pay all development fees associated with the final plat. ISSUES: PUD Amendment — The City Council must review the proposed minor amendment to the PUD plan and determine whether the amendment is consistent with the purpose of the PUD. Section 1106.711 of the City Code allows for minor amendments when changes have a minimal impact on the overall character of the approved Final PUD Plan such as decreases in floor area and impervious surface, and minor building modifications. Major amendments include increases in overall density, impervious surface, and required parking; reductions of usable open space; and changes to approved final plats. The developer has identified reductions in both building size and overall impervious surface which classify as minor amendments. While the developer has submitted conceptual building elevations of Mattamy Homes townhome products, with the exception of the impervious surface maximums per lot, no specific building plans or square footages are being proposed at this time. In the past, the City Council has approved minimum standards in regards to total unit square footage, number of garage spaces, and number of building floors as a part of the PUD review and PUD Amendment review process. The City Council may find it appropriate to consider similar minimum standards for this PUD Amendment. Staff requests that any approval of the PUD Amendment be subject to the following conditions: 1. The developer must obtain the required permits from any other state or local agency prior to any work on the site. 2. As part of the final PUD plan, provide a table which will enable staff to track the impervious surface on the site. Overall impervious surface may not exceed the percentages shown on the plans. Final Plat - The principal requirements for final plat approval include a signed Development Contract with surety for the installation of utilities and streets. A letter of credit for the public improvements required as a part of this development is included as part of the Development Contract. The Development Contract specifies the development fees for the platted lots. This Development Contract includes $173,521.00 in development fees. City Staff finds the Final Plat in compliance with the Preliminary Plat subject to the proposed minor PUD Amendment approval. E FINANCIAL Approval of this minor amendment may assist in facilitating the construction of IMPACT: 64 townhome lots which will contribute to the City's tax base. ALTERNATIVES: The City Council has the following alternatives: 1. Adopt a resolution with conditions approving the minor PUD Amendment for Jeffers Pond and adopt a resolution approving the Final Plat to be known as Jeffers Waterfront Addition and directing the Mayor and City Manager to sign the Development Contract. 2. Deny the PUD Amendment and the Final Plat on the basis they are inconsistent with the purpose and intent of the Zoning and Subdivision Ordinances and /or the Comprehensive Plan. In this case, the Council should direct the staff to prepare a resolution with findings of fact based in the record for the denial of these requests. 3. Defer consideration of these items and provide staff with specific direction. RECOMMENDED Two separate motions are required: MOTION: 1. A motion and second to adopt a resolution approving a minor amendment to the final PUD Plan for Jeffers Pond, subject to the listed conditions. 2. A motion and second adopting a resolution approving a Final Plat known as Jeffers Waterfront Addition, subject to the listed conditions and authorize the mayor and city manager to execute a development contract on behalf of tha city 3 � b� PRIp U tr1 NIVES�� 4646 Dakota Street SE Prior Lake, MN 55372 RESOLUTION 11 -xxx A RESOLUTION TO APPROVE A MINOR AMENDMENT TO THE PLANNED UNIT DEVELOPMENT (PUD) FINAL PLAN KNOWN AS JEFFERS POND Motion By: Second By: WHEREAS, Mattamy Homes has submitted an application for an amendment to the Planned Unit Development Final Plan known as Jeffers Pond; and WHEREAS, The proposed amendment is a "minor amendment" for administrative and procedural purposes; and WHEREAS, The Prior Lake City Council considered the proposed Final PUD Plan on February 7, 2011; and WHEREAS, The City Council finds the Final PUD Plan in substantial compliance with the approved Preliminary PUD Plan; and WHEREAS, The City Council finds the PUD Final Plan is compatible with the stated purposes and intent of the Section 1106 Planned Unit Developments of the Zoning Ordinance. NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA as follows: 1. The recitals set forth above are incorporated herein. 2. The Amended Planned Unit Development Final Plan is hereby approved subject to the following conditions: a. The developer must obtain the required permits from any other state or local agency prior to any work on the site. b. As part of the final PUD plan, provide a table which will enable staff to track the impervious surface on the site. Overall impervious surface may not exceed the percentages shown on the plans. PASSED AND ADOPTED THIS 7TH DAY OF FEBRUARY, 2011. YFS Rf M ser My ser Erickson Erickson Hedberg Hedber Keeney Keene Soukup Souku Frank Boyles, City Manager f PLO U \rNlvEso 4646 Dakota Street SE Prior Lake, MN 55372 RESOLUTION 11 -xx A RESOLUTION TO APPROVE THE FINAL PLAT OF "JEFFERS WATERFRONT ADDITION" AND DEVELOPMENT CONTRACT AND SETTING FORTH CONDITIONS TO BE MET PRIOR TO RELEASE OF THE FINAL PLAT. Motion By: Second By: WHEREAS, On January 18, 2005, the City Council approved the preliminary plat known as Jeffers Pond, subject to conditions identified by Resolution 05 -17; and WHEREAS, The City Council has found that the final plat of "Jeffers Waterfront Addition" is in substantial compliance with the approved preliminary plat for Jeffers Pond. NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA as follows: 1. The recitals set forth above are incorporated herein as if fully set forth. 2. The final plat of "Jeffers Waterfront Addition" is approved subject to the following conditions, which shall be met prior to release of and recording of the final plat: a. A current title opinion or commitment of title insurance is submitted acceptable to the City Attorney. b. Payment of all fees prior to release of the final plat mylars. c. Reductions of the entire final plat be submitted, to the following scales: V = 200'; and one reduction at no scale which fits onto an 81/2" x 11" sheet of paper. d. Three mylar sets of the final plat with all required signatures are submitted. e. The developer provides financial security, acceptable to the City Engineer prior to release of the final plat mylars. f. The final plat and all pertinent documents must be filed with Scott County within 90 days from the date of final plat approval. Failure to record the documents by May 7, 2011, will render the final plat null and void. 3. The Mayor and City Manager are hereby authorized to execute the Development Contract on behalf of the City. PASSED AND ADOPTED THIS 7T" DAY OF FEBRUARY, 2011. 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MPLAhrr MO.— v M=m �nla e1) v o- LANDSCAPXNG � NAM%j=vrvleNMe wor veRGREEN MIS AUSTIUM PHEIMUS NIGM O&B 10 BLACK HILLS SPRUMPICEA GLAUCA DENSATA -. Low 10 0VEKMkYTWs f AB AUTUMN "C MAPUJAM Z P�MANU 3� 0i6 7 CR SACCHARUM 3-V Okft 5 MUCAM-SENTIM 'y I WW jWeMN WILLOWISALIX W—Nlr-k 02V I", X � 2 Stonebrooke LANDSCAPE PLAN 19 EMInoodN Respon.ok SoWdons" or:FFEPs wATERFRONT ADOMON d li i .71 � W ; :1 f .1•.l:f II crA SIM MM W O U N V 0 U W r+� O V Q HMO CONCEPTUAL now u � Iii � I � � u ■// u //Ri �� � MGM= CSTH03E CSTHOZ CSTHOZ CSTH03E BUILDING 4C CONCEPTUAL D DO❑D A 1 01 DDDD:EODCD; ; �' DDCD:DDDD i ' CD]DD,DDDD - ❑D = DDC�D.C�C • i •DD �� - OCiDD•D0� ° _ CSTH03E CSTHOI CSTHOI CSTH03E ► BUILDING 4D CONCEPTUAL CSTH03E CSTH02 CSTHOI CSTHOI CSTH02 CSTH03E BUILDING 6C DEVELOPMENT CONTRACT JEFFERS WATERFRONT ADDITION PROJECT # 10-126 This DEVELOPMENT CONTRACT is entered into this 7th day of February, 2011, by and between the CITY OF PRIOR LAKE, a Minnesota municipal corporation ( "City "), and Mattamy Homes, (the 'Developer "). Based on the mutual promises and covenants set forth herein, the sufficiency of which is not disputed, the City and the Developer (collectively "Parties ") agree as follows: 1. REQUEST FOR P ,4T OVA L . The Developer has asked the City to approve a Plat for Jeffers Waterfront Addition (referred to in this Development Contract as the 'Plat "). The land is legally described as shown on attached Exhibit A which is incorporated herein as if fully set forth. 2. CONDITIONS OF PL , 4T T APPROV I . The City hereby approves the Plat on condition that the Developer enter into this Development Contract, furnish the Security required by it, and record the Plat and Development Contract with the County Recorder or Registrar of Titles within 60 days after the City Council approves the final Plat. 3. RIGHT TO PRO .F D . Within the Plat or land to be platted, the Developer may not construct sewer lines, water lines, streets, utilities, public or private improvements, or any buildings until all the following conditions have been satisfied: 1) this Development Contract has been fully executed by 2/2/11 Page 1 both parties, 2) the necessary security, development fees and insurance have been received by the City, and 3) the City Engineer or Designee has issued a letter that all conditions have been satisfied and that the Developer may proceed. The foregoing restriction on the Developer's "Right to Proceed" does not apply to grading or other approvals set forth in Resolution No. 05 -17, dated January 18, 2005, approving the Preliminary Plat for the Jeffers Pond. 4. PHASED DEVELOPMENT If the Plat is a phase of a multiphased preliminary Plat, the City may refuse to approve Final Plats of subsequent phases if the Developer has breached this Development Contract or any terms or conditions set out in the Resolution approving the Final Plat and the breach has not been remedied. In addition, no other subsequent phases may proceed until the City approves Development Contracts for such phases. Fees and charges collected by the City in connection with infrastructure, public improvements and parkland dedication requirements are not being imposed on outlots, if any, in the Plat that are designated in an approved Preliminary Plat for future subdivision into lots and blocks. Such charges will be calculated and imposed when the outlots are subdivided into lots and blocks. 5. PRELIMINARYPLAT STATUS If the Plat is a phase of a multiphased preliminary Plat, the Developer shall submit a Staging Plan for City Council approval which may allow the Developer more than one (1) year to subdivide the property into lots and blocks. 6. DEVELOPMENT PLANS The Plat shall be developed in accordance with the Plans identified below. The Plans shall be approved by the City Engineer prior to consideration of the Final Plat and Developer's Contract by the City Council. The plans shall not be attached to this Development Contract, but are incorporated by reference and made a part of this Development Contract as if fully set forth herein. If the plans vary from the written terms of this Development Contract, the more specific or stringent controls shall apply. The Plans are: Page 2 2/2/11 Plan A -- Final Plat Dated Stamp Dated January 18, 2011 (Prepared by Stonebrooke Engineering) Plan B -- Final Grading, and Erosion Control Plan(s) Stamp Dated January 28, 2011 (Prepared by Stonebrooke Engineering) Plan C -- Landscaping Plan Stamp Dated January 28, 2011 (Prepared by Stonebrooke Engineering) Plan D -- One set of Plans and Specifications for Developer Installed Improvements Stamp Dated January 28, 2011 (Prepared by Stonebrooke Engineering) All plans set forth above are incorporated herein and made part of this Development Contract. 7. DEVELOPER INSTALLED IMPRO MENT . The Developer shall install and pay for the following: A. Sanitary Sewer System B. Water System C. Storm Sewer D. Streets E. Concrete Curb and Gutter F. Street Lights G. Site Grading and Ponding H. Underground Utilities I. Traffic Control Signs J. Street Signs K. Setting of Iron Monuments L. Sidewalks and Trails M. Landscaping N. Wetland Buffer Signage The Developer Installed Improvements shall be installed in accordance with the City's Subdivision Ordinance, City standard specifications for utilities and street construction, the City's Public Works Design Manual, and any other applicable City ordinances, all of which are incorporated herein by reference. The Developer shall submit plans and specifications, which have been prepared by a Minnesota registered 2/2/11 Page 3 professional civil engineer to the City for approval by the City Engineer. The Developer shall obtain all necessary permits and approvals from any other agencies having jurisdiction before proceeding with that aspect of the construction as it relates to that permit. The Developer, its contractors and subcontractors, shall follow all instructions received from the City's authorized personnel. The Developer or the Developer's engineer shall schedule a preconstruction meeting with all parties concerned, including the City staff, to review the program for the construction work. In accordance with Minnesota Pipeline Safety law revisions effective January 1, 2006 the Developer will be responsible for installing a tracer wire mechanism for all service lines in public right -of -way. The proposed tracer mechanism shall be approved by the City prior to installation. All costs associated with furnishing and installing the tracers shall be the Developer's responsibility. Before the Security for the completion of utilities is released, iron monuments must be installed in accordance with Minn. Stat. §505.02. The Developer's surveyor shall submit a written notice to the City certifying that the monuments have been installed. 8. CONSTRUCTION OBSERVATION The City's authorized personnel shall provide construction observation during the installation of the Developer Installed Improvements in accordance with the Public Works Design Manual. These services by the City shall include: A. Construction observation during installation of required Developer Installed Improvements, which include grading, sanitary sewer, watermain, storm sewer /ponding and street system. B. Documentation of construction work and all testing of Developer Installed Improvements. C. Field document as -built location dimensions for sanitary sewer, watermain and storm sewer facilities. The Developer's Engineer is responsible for data collection and preparation of as- built record plans. 9. DEVELOPER PROVIDED CONSTRUCTION SERI= The Developer shall be responsible for providing all other construction services including, but not limited to: 2/2/11 Page 4 A. Construction surveying B. As -built drawings of grading plans. C. As -built drawings showing location, dimensions and elevations of all utility improvements, including but not limited to top nut of hydrants, manhole rims, manhole inverts. (Field tie dimensions to sewer and water services shall be provided to the Developer's Engineer, by City staff or City consultants). As -built record drawings shall follow the requirements set forth in the Public Works Design Manual (PWDM). The as -built record drawings shall be submitted to the City for approval within six (6) months of substantial base pavement course placement. D. Project Testing: The Developer is responsible, at the Developer's sole cost, to provide testing to certify that Developer Installed Improvements were completed in compliance with the approved final plans and specifications. A copy of all testing documentation must be submitted to the City. The personnel performing the testing shall be certified by the Minnesota Department of Transportation. The City Engineer has the sole discretion to determine if additional testing is necessary. The cost of additional testing is to be paid by the Developer. E. Lot corners and monuments. F. Engineering /Project Management 10. BOULEVARD AND AREA RESTORATION. The Developer shall seed or lay cultured sod in all boulevards within thirty (30) days, or within a timeline established by the City Engineer, of the completion of street related improvements and restore all other areas disturbed by the development grading operation. Boulevard and Area Restoration shall be in accordance with the approved erosion control plan. Upon request of the City Engineer, the Developer shall remove the silt fences after turf establishment. 11. SUBDIVISION MONUMENTS. The Developer shall install all subdivision monumentation within one (1) year from the date of recording the plat, or the monumentation shall be installed on a per lot basis at the time the building permit for the subject lot is issued, whichever occurs Page 5 2/2/11 first. At the end of the one (1) year period from recording of the Plat, the Developer shall submit to the City Engineer written verification by a registered land surveyor that the required monuments have been installed throughout the plat. 12. TIME OF PERFORMANCE The Developer shall install all required public improvements by December 31, 2011, with the exception of the final wear course of asphalt on streets. The final wear course on streets shall be installed by July 3&, of the first summer after the base layer of asphalt has been in place for one freeze thaw cycle. If necessary, the Developer and the City shall consult about an extension of time. If an extension is granted, it shall be in writing and conditioned upon updating the Security posted by the Developer to reflect cost increases and the extended completion date. 13. LICENSE The Developer hereby grants the City, its agents, employees, officers and contractors a non - revocable license to enter the Plat to perform all work and inspections deemed appropriate by the City in conjunction with the development of the Plat. "' / / "/ A. Prior to initiating site grading, the erosion control plan, Plan B, and Stormwater Pollution Prevention Plan (SWPPP) shall be implemented by the Developer and inspected and approved by the City. The City may require the Developer, at no cost to the City, to install additional erosion control measures if they are necessary to meet erosion control objectives. All areas disturbed by the excavation and backfilling operations shall be reseeded immediately after the completion of the work in that area. All seeded areas shall be mulched, and disc anchored as necessary for seed retention. The parties recognize that time is of the essence in controlling erosion. If the Developer does not comply with the erosion control plan and schedule or supplementary conditions imposed by the City, the City may take such action as it deems appropriate to control erosion. The City will endeavor to notify the Developer in advance of any proposed action, but failure of the City to do so will not affect the Page 6 2/2/11 Developer's and City's rights or obligations hereunder. The Developer shall be solely responsible for any costs incurred by the City for erosion control measures. The Developer shall fully reimburse the City for any cost incurred within ten (10) days of the date of the City's invoice. If the Developer does not reimburse the City for any cost the City incurred for such work within ten (10) days, the City may, without further notice to the Developer, draw down the Irrevocable Letter of Credit to pay any costs. No development, utility or street construction will be allowed unless the Plat is in full compliance with the erosion control requirements. The notice provisions set out in Paragraph 41 shall not apply to notifications to the Developer under this paragraph. B. The Developer shall seed or lay cultured sod in all boulevard areas behind curb within thirty (30) days, or within a timeline established by the City Engineer, of the completion of street related improvements. C. The Developer shall restore all other areas disturbed by the development grading and construction operations within this time period. D. Boulevard and disturbed area restoration shall be in accordance with the approved Plan B and SWPPP. (No building permits will be issued until the Developer has installed silt -fence behind the sod line of all buildable lots). It is expressly understood that once silt fence has been installed it shall become the builders' responsibility to maintain the silt fence, unless the silt fence is damaged by the Developer's utility contractors. 15. CLEAN I The Developer shall clean dirt and debris from streets that has resulted from any and all construction work by the Developer, homebuilders, contractors and subcontractors, their agents or assigns. Prior to any construction in the Plat, the Developer shall identify, in writing, a responsible party and schedule for erosion control, street cleaning, and street sweeping. If the Developer fails to perform the required clean-up within 24 hours of receiving instructions and notice from the City, the City, without further notice, will perform the work and charge the associated cost to the Developer. If the Developer 2/2/11 Page 7 does not reimburse the City for any cost the City incurred for such work within ten (10) days of receipt of the invoice, the City may draw down, without further notice, the Irrevocable Letter of Credit to pay any costs incurred by the City. Due to time sensitive nature of clean up, the notice provisions set out in Paragraph 41 shall not apply to notifications to the Developer under this paragraph. 16. GRADING P7.4 N A. The Plat shall be graded in accordance with the approved grading plans. All existing and proposed contours must be shown and approved as a part of the building permit application. The graded plans, as well as the grading and erosion control work shall conform to City of Prior Lake Public Works Design Manual. B. As- builts. Before the City releases the Grading Security, the Developer shall provide the City with an as built grading plan and a certification by a registered land surveyor or engineer that all ponds, swales, and ditches have been constructed on public easements or land owned by the City. The as-built plan shall include field verified elevations of the following: a) cross sections of ponds, b) location and elevations along all swales and ditches, and c) lot corners and house pads. The City may withhold issuance of building permits until the approved certified grading plan is on file with the City and all erosion control measures are in place as determined by the City Engineer. The Developer shall also submit a land tabulation certified by a registered engineer showing that all pads have been corrected in accordance with project specifications. 17. OWNERSHIP OF DEVELOPER INSTALLED IMPRO MENT . Upon completion of the Developer Installed Improvements required by this Development Contract; (1) final written acceptance by the City Engineer and, (2) adoption of a resolution of acceptance by City Council, the improvements lying within public right -of -way and easements shall become City property. The Developer shall be responsible for all pond maintenance until written acceptance by the City of the Developer installed 2/2/11 Page 8 improvements. (Alternative): Ponds shall be maintained in perpetuity by developer or homeowner's association. 18. STREET MAINTENANCE Developer shall be responsible for all street maintenance until final written acceptance by the City of the Developer Installed Improvements. All private street or private parking lot maintenance shall remain the Developer's and homeowner's association responsibility in perpetuity. Warning signs and detour signs, if determined to be necessary by the City Engineer, shall be placed when hazards develop in streets to prevent the public from traveling on same and directing attention to detours. If and when streets become impassable, such streets shall be barricaded and closed. For the purpose of this subparagraph, "street maintenance" does not include snow plowing or normal sweeping. 19. CONSTRUCTION A CEE SS. Construction traffic access and egress for grading, public utility construction, and street construction is restricted to Jeffers Parkway NW. No construction traffic is permitted on the adjacent local streets. 20. IMPROVEMENTS REQUIRED BEFORE ISSUANCE OF B UILDING PERMITS A. Grading, utilities, curbing, and one lift of bituminous shall be installed on all streets providing access and adjacent to a lot prior to issuance of any building permits for that lot. Grading as- builts for the proposed building permit shall be approved prior to issuance of any building permit. Before a building permit will be issued a minimum of one (1) active fire hydrant within 300 feet of the unit must be available for fire protection. If building permits are issued prior to the acceptance of Developer Installed Improvements, the Developer assumes all liability and costs incurred as a result of delays in completion of the Developer Installed Improvements; including damages to Developer Installed Improvements caused by the Developer, its contractors, subcontractors, material men, employees, agents or third parties. B. Wetland Buffer Signage must be installed prior to the issuance of any building permits within the development. 2/211 Page C. A temporary or permanent Certificate of Occupancy shall not be issued for any building in the plat until water and sanitary sewer improvements have been installed and the streets have been completed and the first lift of bituminous has been placed and said improvements have been inspected and determined by the City to be available for use. 21. CITY ADMINISTRATION The Developer shall pay a fee for City administration. City administration will include all activities necessary to implement this Developer's Contract. These activities include, but are not limited to, preparation of the Development Contract, consultation with Developer and its engineer on the status of or problems regarding the development of the Plat, project monitoring during the warranty period, processing of requests for reduction in security, and any consulting or legal fees incurred by the City. Fees for this service shall be four percent (4 %) of the estimated construction cost as detailed in Exhibit E, less oversizing costs outlined in Exhibit D, assuming normal construction and project scheduling. The previous escrowed funds currently retained by the City as a result of a Final Plat Application will be credited towards the City Administration four percent (4 %) fee. The Developer has previously escrowed $5,000.00, for City Administrative Review. The remaining City Administration Fee shall be $21,115.00. This fee was calculated as four percent (4 %) of the estimated construction cost less the previously established $5,000.00 escrow fund. Costs incurred by the City over and above the four percent (4 %) Administration fee shall be billed to the Developer. 22. REIMBURSEMENT OF CITY ADMINISTRATION FEE The City and Developer acknowledge that the calculation of the City Administration Fee is based on construction cost estimates provided by the Developer to the City. Although the City reviews and accepts the construction cost estimates provided by the Developer, the review and acceptance is based on an assessment by City Engineering Staff that the costs provided to the City are reasonable. Actual construction costs may vary. Once the City approves the construction cost estimates from the Developer for the Developer Installed Improvements, the City Administration Fee will not be subsequently adjusted in order for the City to Page 10 2/2/11 collect additional administrative fees from the Developer or to reimburse the Developer for fees paid to the City. 23. CITY CONSTRUCTION OBSERVATION Construction observation shall include, but is not limited to, part or full -time inspection of proposed grading, public utilities and street construction, City legal costs, and City consultant expenses. The Developer shall deposit an amount equal to five percent (5 %) of the estimated construction cost, less oversizing costs outlined in Exhibit D, for construction observation performed by the City's authorized personnel and incurred pass - through legal expenses. This amount shall be maintained by the City in escrow until final acceptance of all Developer Installed Improvements by the City. Any balance remaining in the escrow account will be returned to the Developer at that time. Costs incurred by the City over and above the five percent (5 %) Construction Observation fee shall be billed to the Developer. 24. TRUNK STORM WATER ACREAGE CHARGE The Developer shall pay a storm water trunk charge of $20,562.00 prior to the City signing the final Plat. The amount was calculated as follows: 7.37 acres at $2,790.00 per acre. This calculation was determined by the Fee Determination Study adopted by City Council Resolution #05 -18 on January 18, 2005. 25. TRUNK WATER ACREAGE CHAR E . A trunk water acreage charge of $40,535.00 shall be paid by the Developer for watermain trunk improvements prior to the City signing the final Plat. The amount was calculated as follows: 7.37 acres at $5,500.00 per acre. This calculation was determined by the Fee Determination Study adopted by City Council Resolution #05 -07 on January 3, 2005. 26. TRUNK SEWER ACREAGE CHARGE A trunk sewer acreage charge of $22,405.00 shall be paid by the Developer for sanitary sewer trunk improvements prior to the City signing the final Plat. The amount was calculated as follows: 7.37 acres at $3,040.00 per acre. This calculation was 2/2/11 Page 11 determined by the Fee Determination Study adopted by City Council Resolution #05 -18 on January 18, 2005. 27. STREET O S17.F ACRE4GE CHARGE This Development Contract requires the Developer to pay a street oversize acreage charge of $36,260.00 for street improvements prior to the City signing the final Plat. The amount was calculated as follows: 7.37 acres at $4,920.00 per acre. This calculation was determined by the Fee Determination Study adopted by City Council Resolution #05 -18 on January 18, 2005. 28. UTILITY CONNECTION CIL4R A Utility Connection Charge was satisfied as part of the Development Contract for Jeffers Pond 1 st Addition. No additional charge is required. 29. PARK ND ML . DI ATI N. Park and Trail dedication requirements were satisfied as part of the Development Contract for Jeffers Pond 1 St Addition. No additional dedication is required. 30. STREET LIGHTS AND OPERA TIONAL COST The Developer is responsible for the installation of the street lighting. The Developer shall pay the full capital cost of every light to be installed; this includes poles, fixtures, underground wiring, and all appurtenant work. The Developer shall pay operation and maintenance for the streetlights until the City accepts the Developer Installed Improvements, at which time the billing shall be transferred to the City. The street light plan must be acceptable to the City Engineer and in accordance with the Public Works Design Manual. 31. LANDSCAPING Landscaping for this Plat shall comply with Plan C. The cost of the landscaping requirements shall be provided by the Developer, subject to approval by the City. Subject to approved Plan C, the Developer shall provide a financial guarantee of $52,438.00 based on an amount equal to 125% of the estimated cost, as set out in Plan C, to furnish and plant the required landscaping and install the irrigation system. The City shall maintain the Security for at least one (1) year after the date the final landscaping has been planted. At the end of such year, or such longer period as the City determines to 2/2/11 Page 12 be reasonable, the portion of the Security equal to 125% of the estimated cost of the replacement trees, which are alive and healthy may be released. Any portion of the Security not entitled to be released shall be maintained and shall secure the Developer's obligation to remove and replant replacement trees, which are not alive or are unhealthy, and to plant missing trees. Upon completion of the replanting or planting of these trees, the Security shall be maintained for at least one (1) year after the date of the replanting or planting of these trees. If, at the end of this period, all of the required trees are alive and healthy, the entire Security may be released. 32. TREE PRESERVATION PRESERVATIONAAD REPLACEMENT Subject to approved Plan B, the tree removal on this site does not exceed the allowable removal. Therefore, no tree replacement is required. 33. SECURITY To guarantee compliance with the terms of this Development Contract, payment of the costs of all Developer Installed Improvements, and construction of all Developer Installed Improvements, the Developer shall furnish the City with an Irrevocable Letter of Credit or a cash deposit in an amount equal to 125% of the estimated Developer Improvement Costs. The Irrevocable Letter of Credit ( "Security ") shall be in the form attached hereto as Exhibit B, from a bank for $816,094.00. The amount of the Security was calculated as follows: DEVELOPER INSTALLED IMPROVEMENTS COSTS: Sanitary Sewer $ 111,340.02 Watermain $ 142,219.00 Storm Sewer $ 99,365.00 Small Utilities $ 400.00 Streets /Sidewalks /Trails /Street Signs $ 154,313.71 Traffic Control Signs $ 1,200.00 Landscaping $ 41,950.00 Page 13 2/2/11 Grading $ 78,801.47 Erosion Control $ 23,286.00 ESTIMATED DEVELOPER INSTALLED IMPROVEMENTS SUBTOTAL $ 652,875.20 X 1.25 TOTAL SECURITY AMOUNT $ 816,094.00 This breakdown is for historical reference; it is not a restriction on the use of the Security. The bank on which the Irrevocable Letter of Credit is drawn shall be subject to the approval of the City. The bank shall be authorized to do business in the State of Minnesota with a principal branch located within the seven County Twin City Metropolitan area. The Letter of Credit should extend through the warranty period and shall not have an expiration date earlier than December 31, 2013. Individual Security instruments may be for shorter terms provided they are replaced at least forty -five (45) days prior to their expiration. If the required Developer Installed Improvements are not completed at least thirty (30) days prior to the expiration of the Security, the City may draw it down. If the Security is drawn down, the proceeds shall be used to cure the default. 34. CITY DEVELOPMENT FEES: The Developer shall also furnish the City with a cash fee of $173,521.00 for City Development Fees. The amount of the cash fee was calculated as follows: CITY DEVELOPMENT FEES: City Administration Fee (4 %) $ 21,115.00 City Construction Observation (5 %) $ 32,644.00 Trunk Stormwater Acreage Charge $ 20,562.00 Trunk Water Acreage Charge $ 40,535.00 Trunk Sewer Acreage Charge $ 22,405.00 Street Oversize Acreage Charge $ 36,260.00 2/2/11 Page 14 Utility Connection Charge $ 0.00 Park and Trail Dedication Fee (if in lieu of land) $ 0.00 Other $ 0.00 TOTAL CITY DEVELOPMENT FEES $ 173,521.00 35. REDUCTION OF SECUALTY Upon receipt of proof satisfactory to the City that the required work has been satisfactorily completed and financial obligations to the City have been satisfied, the Security may be reduced by seventy -five percent (75 %) of the financial obligations that have been satisfied upon written authorization by the City Engineer. Any requests for reductions in the Security must be made in writing to the City Engineer and must be accompanied by lien waivers from any contractor or subcontractor for the Developer. Twenty -five percent (25 %) of the Security shall be retained until all Developer Installed Improvements and other obligations under this Development Contract have been completed, including, but not limited to, all financial obligations to the City, and the receipt of all required as-built street, utility and grading plans by the City. Once the City has accepted the project, as- builts have been completed, all punch list items are completed and warranty bonds submitted, the Irrevocable Letter of Credit may be reduced to 5 %. Upon completion of the warranty period the 5% Irrevocable Letter of Credit may be released. In no event shall the five percent (5 %) Security be released until the Developer provides the City Engineer with a certificate from the Developer's registered land surveyor stating that all irons have been set following site grading and utility and street construction. 36. W RRANTY. The Developer warrants all Developer Installed Improvements required to be constructed by it pursuant to this Development Contract against poor material and faulty workmanship. The Developer shall post warranty bonds in the amount of twenty -five (25 %) of the improvements as security. The warranty period for streets is one (1) year. The warranty period for underground utilities is two (2) years. The warranty period on Developer Installed Improvements shall commence on the date the Page 15 2/2/11 City Engineer issues written acceptance of the improvement. All punch list items must be completed and "as- built" drawings received prior to the commencement of the warranty period. The retained Security may be used by the City to pay for warranty work. The City standard specifications for utilities and street construction identify the procedures for final acceptance of streets and utilities. These standards are set out in the Public Works Design Manual. 37. OVERSIZIN . City and Developer agree that the Developer Installed Improvements should be oversized for the benefit of future development. Oversizing is the construction of a Developer Installed Improvement to City specifications that exceeds those that would otherwise be required of the Developer. Oversizing improvements include, but are not limited to, sanitary sewer, water, storm drainage facilities, and road improvements. If the City Engineer determines that oversizing is required, the City shall reimburse the Developer for the costs associated with this work and as approved in this contract. City and Developer agree that the cost of system oversizing to be reimbursed to the Developer is $_0.00 based upon a cost estimate by the City Engineer as determined by an engineer's estimate or contractors bid to be provided by the Developer and application of the City's Assessment Policy based on a final engineering design. The calculation for oversizing is attached as Exhibit D. 38. CLAIMS A. City Authorized to Commence Interpleader Action. In the event that the City receives claims from labor, materialmen, or others that work required by this Development Contract has been performed, the sums due them have not been paid, and the laborers, materialmen, or others are seeking payment from the City, the Developer hereby authorizes the City to commence an Interpleader action pursuant to the Minnesota Rules of Civil Procedure for the District Courts, to draw upon the hrevocable Letter of Credit Security in an amount up to 125% of the claim(s) and deposit the funds in compliance with the Rule, and upon such deposit, the Developer shall release, discharge, and dismiss the City from any further proceedings as it pertains to the Irrevocable letters of credit deposited with the 2/2/11 District Court, except that the Court shall retain jurisdiction to determine attorneys' fees pursuant to this Development Contract. B. Prompt Payment to Subcontractors Required. The Developer shall pay any subcontractor within ten (10) days of the Developer's receipt of payment by the City for undisputed services provided by the subcontractor. If the Developer fails within that time to pay the subcontractor any undisputed amount for which the Developer has received payment by the City, the Developer shall pay interest to the subcontractor on the unpaid amount at the rate of 1 /z percent (1.5 %) per month or any part of a month. The minimum monthly interest penalty payment for an unpaid balance of $100 or more is $10. For an unpaid balance of less than $100, the Developer shall pay the actual interest penalty due to the subcontractor. A subcontractor who prevails in a civil action to collect interest penalties from the Developer shall be awarded its costs and disbursement, including attorney's fees incurred in bringing the action, from the Irrevocable Letter of Credit or other security provided by the Developer to the City. (See Minn. Stat. §471.425, Subd. 4a.) 39. RESPONSIBILITY FOR COSTS A. The Developer shall reimburse the City for costs incurred in the enforcement of this Development Contract, including engineering and attorneys' fees. B. Except as provided in Paragraphs 14 and 15 of this Development Contract, the Developer shall pay in full all bills submitted to it by the City for obligations incurred under this Development Contract within thirty (30) days after receipt. If the bills are not paid on time, the City may issue a stop work order until the bills are paid in full. A. Definition. In the context of this Development Contract, "Event of Default" shall include, but not be limited to, any one or more of the following events: (1) failure by the Developer to pay, in a timely manner including but not limited to all real estate property taxes, utility charges, and Page 17 2/2/11 assessments with respect to the development property; (2) failure by the Developer to construct the Developer Installed Improvements pursuant to the terms, conditions and limitations of this Development Contract; (3) failure by the Developer to observe or perform any covenant, condition, obligation or agreement on its part to be observed or performed under this Development Contract; (4) transfer of any interest in the Plat without prior written approval by the City Council (for the purpose of this paragraph, the sale of a lot, except an outlot, to a builder is not an event of default); (5) failure to correct any warranty deficiencies; (6) failure by the Developer to reimburse the City for any costs incurred by the City in connection with this Development Contract; (7) failure by the Developer to renew the Irrevocable Letter of Credit at least forty-five (45) days prior to its expiration date ; (8) receipt by the City from the Developer's insurer of a notice of pending termination of insurance; (9) failure to maintain a current insurance certificate on file with the City meeting City requirements; (10) failure to maintain an Irrevocable Letter of Credit or security in good standing; (11) a breach of any material provision of this Development Contract. With respect to this paragraph, "material provision" shall be construed broadly to offer the City the fullest protection and recourse possible. B. Event of Default - Remedies. Whenever an Event of Default occurs, the City, after providing the Developer with ten (10) days written notice in accordance with the terms of Paragraph 41 of this Development Contract, may take any one or more of the following actions: 1. The City may suspend its performance under this Development Contract. 2. The City may cancel or suspend this Development Contract. 3. The City may draw upon or bring action upon any or all of the Securities provided to the City pursuant to any of the terms of this Development Contract. 4. The City may take whatever action, including legal or administrative action, which may be necessary or desirable to the City to collect any payments due under this Development Page 18 2/2/11 Contract or to enforce performance and/or observance of any obligation, agreement or covenant of development under this Development Contract. 5. The City may suspend issuance of building permits and/or certificates of occupancy on any of the lots, including those lots sold to third parties. 6. The City may draw upon the Irrevocable Letter of Credit if the City receives notice that the bank elects not to renew the Irrevocable Letter of Credit. 7. The City may, at its option, install or complete the Developer Installed Improvements using the Irrevocable Letter of Credit to pay for the related costs. 8. Suspend the release of any escrowed dollars. 9. Use of escrow dollars or other security to satisfy any outstanding financial obligations to the City including, but not limited to, all real estate property taxes, utility charges, and assessments with respect to the development property; 10. Any fees incurred by the City associated with enforcing any of the provisions set out in sections 1 -9 above shall be the sole responsibility of the Developer. C. Election of Remedies. None of the actions set forth in this Section are exclusive or otherwise limit the City in any manner. 41. NOTICES. Whenever any paragraph in this Development Contract, with the exception of paragraphs 14 and 15, requires Notice to be provided to the Developer, the notice shall include the following: (1) the nature of the breach of the term or condition that requires compliance by the Developer, or the Event of Default that has occurred; (2) what the Developer must do to cure the breach or remedy the Event of Default; and (3) the time the developer has to cure the breach or remedy the Event of Default. Required Notices to the Developer shall be in writing, and shall be either hand delivered to the Developer, its employees or agents, or mailed to the Developer by certified mail at the following address: 2100 W. County Road 42, Burnsville, MN 55337. Notices to the City shall be in writing and shall be either 2/2/11 Page 19 hand delivered to the City Manager, or mailed to the City by certified mail in care of the City Manager at the following address: City of Prior Lake, 4646 Dakota Street SE, Prior Lake, Minnesota 55372. Concurrent with providing Notice to the City, Notice(s) shall be served upon the City Attorney Suesan Lea Pace, Esq. at Nilan, Johnson & Lewis, 400 One Financial Plaza, 120 South Sixth Street, Minneapolis, Minnesota, 55402 -1808. 42. INDEMNIFICATION Developer shall indemnify, defend, and hold the City, its Council, agents, employees, attorneys and representatives harmless against and in respect of any and all claims, demands, actions, suits, proceedings, liens, losses, costs, expenses, obligations, liabilities, damages, recoveries, and deficiencies, including interest, penalties, and attorneys' fees, that the City incurs or suffers, which arise out of, result from or relate to this Development Contract. The responsibility to indemnify and hold the City harmless from claims arising out of or resulting from the actions or inactions of the City, its Council, agents, employees, attorneys and representatives does not extend to any willful or intentional misconduct on the part of any of these individuals. 43. NO THIRD PARTY RECOU The City and Developer agree that third parties shall have no recourse against the City under this Development Contract. The Developer agrees that any party allegedly injured or aggrieved as a result of the City's approval of the Plat shall seek recourse against the Developer or the Developer's agents. In all such matters, including court actions, the Developer agrees that the indemnification and hold harmless provisions set out in Paragraph 42 shall apply to said actions. 44. INSURANCE RFO IIRFM NT Developer, at its sole cost and expense, shall takeout and maintain or cause to be taken out and maintained, until the expiration of the warranty period(s) on the Developer Installed Improvements, public liability and property damage insurance covering personal injury, including death, and claims for property damage which may arise out of Developer's work or the work of its subcontractors or by one directly or indirectly employed by any of them. Limits for bodily injury 2/2/11 Page 20 and death shall be not less than $1,000,000 for one person and $2,000,000 for each occurrence; limits for property damage shall be not less than $500,000 for each occurrence; or a combination single limit policy of $1,000,000 or more. The City shall be named as an additional insured on the policy, and the Developer shall file with the City a certificate evidencing coverage prior to the City signing the Plat. The certificate shall provide that the City must be given thirty (30) days advance written notice of the cancellation of the insurance. The Certificate shall be in the form attached hereto as Exhibit C. All insurance certificates shall have expiration dates falling on June 30 or December 31 of each year. Each insurance certificate shall have the project name and City project number clearly shown. 45. RECORDING DEVELOPMENT CONT ,4CT This Development Contract shall run with the land. The Developer, at its sole cost and expense, shall record this Development Contract against the title to the property within ninety (90) days of the City Council's approval of the Development Contract. The Developer shall provide the City with a recorded copy of the Development Contract. The Developer covenants with the City, its successors and assigns, that the Developer is well seized in fee title of the property being final platted and/or has obtained consents to this Development Contract, in the form attached hereto, from all parties who have an interest in the property; that there are no unrecorded interests in the property being final platted; and that the Developer indemnifies and holds the City harmless for any breach of the foregoing covenants. 46. SPEC UL PROM ION . The following special provisions shall apply to Plat development: A. Compliance with all of the conditions listed in the Resolution approving the final Plat. B. The Developer is required to submit the final Plat in electronic format. The electronic format shall be compatible with the City's current software: In addition, upon completion of the project the Developer shall provide the City with as-built utility plans in electronic format compatible with Page 21 2/2/11 the City's current software and with layers, colors, and line -types formatted in accordance with City standards. Additionally, three (3) full size (22 X 34 inch) paper copies and one (1) reduced (11 X 17 inch) copy shall be certified and submitted to the City. C. The Developer hereby waives any claim against the City for removal of signs placed in the right -of -way in violation of the City Zoning Ordinance and State Statutes. The City shall not be responsible for any damage to, or loss of, signs removed pursuant to this provision. 47. MISCELLANEOUS A. Compliance With Other Laws. The Developer represents to the City that the Plat complies with all county, metropolitan, state, and federal laws and regulations, including but not limited to: subdivision ordinances, zoning ordinances, and environmental regulations. If the City determines that the Plat does not comply, the City may, at its option, refuse to allow construction or development work in the Plat until the Developer does comply. Upon the City's demand, the Developer shall cease work until there is compliance. B. Severability. If any portion, section, subsection, sentence, clause, paragraph, or phrase of this Development Contract is for any reason held invalid, such decision shall not affect the validity of the remaining portion of this Development Contract. C. Amendments. There shall be no amendments to this Development Contract unless in writing, signed by the parties and approved by resolution of the City Council. The City's failure to promptly take legal action to enforce this Development Contract shall not be a waiver or release. D. Assignment. The Developer may not assign this Development Contract without the prior written approval of the City Council. The Developer's obligation hereunder shall continue in full force and effect even if the Developer sells one or more lots, the entire Plat, or any part of it. 2/2/11 Page 22 E. Interpretation. This Development Contract shall be interpreted in accordance with and governed by the laws of the State of Minnesota. The words herein and hereof and words of similar import, without reference to any particular section or subdivision, refer to this Development Contract as a whole rather than to any particular section or subdivision hereof. Titles in this Development Contract are inserted for convenience of reference only and shall be disregarded in constructing or interpreting any of its provisions. F. Jurisdiction. This Development Contract shall be governed by the laws of the State of Minnesota. 2/2/11 Page 23 CITY OF PRIOR LAKE (SEAL) By: Mike Myser, Mayor By: Frank Boyles, City Manager DEVELOPER: By: Its: By: Its: STATE OF MINNESOTA ) ( ss. COUNTY OF SCOTT) The foregoing instrument was acknowledged before me this day of , 2011, by Mike Myser, Mayor, and by Frank Boyles, City Manager, of the City of Prior Lake, a Minnesota municipal corporation, on behalf of the corporation and pursuant to the authority granted by its City Council. STATE OF MINNESOTA ) ( ss. COUNTY OF ) NOTARY PUBLIC 2/2/11 Page 24 by The foregoing instrument was acknowledged before me this day of , 20_, NOTARY PUBLIC DRAFTED BY: City of Prior Lake 4646 Dakota Street SE Prior Lake, Minnesota 55372 2/2/11 Page 25 FEE OWNER CONSENT TO DEVELOPMENT CONTRACT ' fee owners of all or part of the subject property, the development of which is governed by the foregoing Development Contract, affirm and consent to the provisions thereof and agree to be bound by the provisions as the same may apply to that portion of the subject property owned by them. Dated this day of , 20 STATE OF MINNESOTA ) ( ss. COUNTY OF ) The foregoing instrument was acknowledged before me this day of 20 , by NOTARY PUBLIC DRAFTED BY: City of Prior Lake 4646 Dakota Street SE Prior Lake, Minnesota 55372 2/2/11 Page 26 MORTGAGEE CONSENT TO DEVELOPMENT CONTRACT , which holds a mortgage on the subject property, the development of which is governed by the foregoing Development Contract, agrees that the Development Contract shall remain in full force and effect even if it forecloses on its mortgage. Dated this day of , 20 STATE OF MINNESOTA ) ( ss. COUNTY OF ) The foregoing instrument was acknowledged before me this day of 20 by NOTARY PUBLIC DRAFTED BY: City of Prior Lake 4646 Dakota Street SE Prior Lake, Minnesota 55372 Page 27 2/2/11 CONTRACT PURCHASER CONSENT TO DEVELOPMENT CONTRACT , which/who has a contract purchaser's interest in all or part of the subject property, the development of which is governed by the foregoing Development Contract, hereby affirms and consents to the provisions thereof and agrees to be bound by the provisions as the same may apply to that portion of the subject property in which there is a contract purchaser's interest. Dated this day of , 20 STATE OF MINNESOTA ) ( ss. COUNTY OF ) The foregoing instrument was acknowledged before me this day of 20 by NOTARY PUBLIC DRAFTED BY: City of Prior Lake 4646 Dakota Street SE Prior Lake, Minnesota 55372 2/2/11 Page 28 EXHIBIT "A" TO DEVELOPMENT CONTRACT Legal Description of Property Being Final Platted and Copy of Final Plat, Including Title Sheet: 2/2/11 Page 29 i ji: W. Page 2 2/2/11 Page 30 EXHIBIT `B" SAMPLE IRREVOCABLE LETTER OF CREDIT TO: City of Prior Lake 4646 Dakota Street SE Prior Lake, Minnesota 55372 No. _ Date: Dear Sir or Madam: We hereby issue, for the account of (Name of Developer) and in your favor, our Irrevocable Letter of Credit in the amount of $ , available to you by your draft drawn on sight on the undersigned bank. The draft must: a) Bear the clause, 'Drawn under Letter of Credit No. , dated , 20 of (Name of Bank) " b) Be signed by the Mayor or City Manager of the City of Prior Lake. c) Be presented for payment at (Address of Bank) on or before 4:00 p.m. on December 31, 20 This Letter of Credit shall automatically renew for successive one -year terms unless, at least forty -five (45) days prior to the next annual renewal date (which shall be December 31 of each year), the Bank delivers written notice to the Prior Lake City Manager that it intends to modify the terms of, or cancel, this Letter of Credit. Written notice is effective if sent by certified mail, postage prepaid, and deposited in the U.S. Mail, at least forty-five (45) days prior to the next annual renewal date addressed as follows: Prior Lake City Manager, Prior Lake City Hall, 4646 Dakota Street SE, Prior Lake, Minnesota 55372 -1714, and is physically received by the City Manager at least forty-five (45) days prior to the renewal date. This Letter of Credit sets forth in full our understanding which shall not in any way be modified, amended, amplified, or limited by reference to any document, instrument, or agreement, whether or not referred to herein. This Letter of Credit is not assignable. This is not a Notation Letter of Credit. More than one draw may be made under this Letter of Credit. This Letter of Credit shall be governed by the most recent revision of the Uniform Customs and Practice for Documentary Credits, International Chamber of Commerce Publication No. 400. We hereby agree that a draft drawn under and in compliance with this Letter of Credit shall be duly honored upon presentation. BY: Its 2/2/11 Page 31 EXHIBIT "C" SAMPLE CERTIFICATE OF INSURANCE PROJECT: CERTIFICATE HOLDER: City of Prior Lake 4646 Dakota Street SE Prior Lake, Minnesota 55372 INSURED: ADDITIONAL INSURED: City of Prior Lake AGENT: WORKERS' COMPENSATION: Policy No. Effective Date: () Occurrence Insurance Company: COVERAGE - Workers' Compensation, Statutory. GENERAL LIABILITY: Policy No. Effective Date: Insurance Company: () Claims Made LIMITS: [Minimum] Bodily Injury and Death: $1,000,000 for one person Property Damage: $500,000 for each occurrence -OR- Combination Single Limit Policy COVERAGE PROVID D Operations of Contractor: YES Expiration Date: Expiration Date: $2,000,000 for each occurrence $1,000,000 or more 2/2/11 Page 32 Operations of Sub - Contractor (Contingent): YES Does Personal Injury Include Claims Related to Employment? YF Completed Operations/Products: YES Contractual Liability (Broad Form): YES Governmental Immunity is Waived: YES Property Damage Liability Includes: Damage Due to Blasting YES Damage Due to Collapse YES Damage Due to Underground Facilities YES Broad Form Property Damage YES AUTOMOBILE LIABILITY: Policy No. Effective Date: Insurance Company: (X) Any Auto LIMITS: [Minimum] Bodily Injury: $1,000,000 each person Property Damage: $500,000 each occurrence -OR- Combined Single Limit Policy: Expiration Date: $2,000,000 each occurrence $1,000,000 each occurrence ARE ANY DEDUCTIBLES APPLICABLE TO BODILY INJURY OR PROPERTY DAMAGE ON ANY OF THE ABOVE COVERAGES: If so, list: Amount: $ [Not to exceed $1,000.00] SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELED BEFORE THE EXPIRATION DATE THEREOF, THE ISSUING COMPANY WILL MAIL THIRTY (30) DAYS WRITTEN NOTICE TO THE PARTIES TO WHOM THIS CERTIFICATE IS ISSUED. Dated at WN On Authorized Insurance Representative 2/2/11 Page 33 EXHIBIT "D" TO DEVELOPMENT CONTRACT (Oversizing Calculations for Developer Installed Improvements) A. OVERSIZING NO OVERSIZING IS REQUIRED AS PART OF THIS CONTRACT Page 34 2/2/11 EXHIBIT "E" TO DEVELOPMENT CONTRACT ESTIMATED CONSTRUCTION COSTS 2/2/11 Page 35 EXHIBIT "E" Page 2 2/2/11 Page 36 EXHIBIT "F" TO DEVELOPMENT CONTRACT CONDITIONS OF PLAT APPROVAL a. All utilities and roads shall be constructed in conformance with the Public Works Design Manual. b. Prior to release of the signed final plat mylars, the developer shall pay all fees detailed in the Development Contract. c. The Developer shall be responsible for submitting reductions of the Jeffers Waterfront Final Plat to the following scales: 1" = 200'; and one reduction at no scale which fits onto an 8 1/2" x 11" sheet of paper. d. Four mylar sets of the final plat with all required signatures must be submitted. e. The final plat and all pertinent documents must be filed with Scott County within 60 days from the date of final plat approval. Failure to record the documents by April 7, 2011, will render the final plat null and void. Page 37 2/2/11