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HomeMy WebLinkAboutFountain Hills Contract DEVELOPMENT CONTRACT FOUNTAIN HILLS 2ND ADDITION PROJECT #01-41 This DEVELOPMENT CONTRACT is entered into this l7tl1 day of June, 2002, by and between the CITY OF PRIOR LAKE, a Minnesota municipal corporation ("City"), and Wensco, a Minnesota corporation (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. REOUEST FOR PLAT APPROVAL. The Developer has asked the City to approve a Plat for Fountain Hills 2nd 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 PLAT APPROVAL. 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 90 days after the City Council approves the final Plat. 1:\02fi1es\02subdivisions\02final plats\fountain2nd\dev cont.doc 6/1 8/02 Page J 3. RIGHT TO PROCEED. 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 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. 02-45 dated April 1, 2002, approving the Preliminary Plat for Fountain Hills 2nd Addition. 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. Development of subsequent phases may not 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. PRELIMINAR Y PLA T 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 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 I; \02files\02su bd i visions\02final p lats\fountain2nd\dev cant. doc 6/18/02 Page 2 the written terms of this Development Contract, the more specific or stringent controls shall apply. The Plans are: Plan A -- Final Plat Dated June 3, 2002 (Prepared by Pioneer Engineeling) Plan B -- Final Grading, Development, and Erosion Control Planes) Dated June 3, 2002 (Prepared by Pioneer Engineering) Plan C -- Tree Preservation and Replacement Plans Dated June 3, 2002 (Prepared by Pioneer Engineering) Plan D -- Landscaping Plan Dated June 3, 2002 (Prepared by Pioneer Engineering) Plan E -- One set of Plans and Specifications for Developer Installed Improvements Dated June 3, 2002 (Prepared by Pioneer Engineering) Plan F -- Street Lighting Plan Dated April 18, 2002 (Prepared by MVEC) All plans set forth above are incorporated herein and made part of this Development Contract. 7. DEVELOPER INSTALLED IMPROVEMENTS. 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 1. Traffic Control Signs 1. Street Signs K. Setting ofIron Monuments L. Sidewalks and Trails M. Landscaping 1:\02files\02subdivisions\02finaJ pJats\fountain2nd\dev cont.doc 6/1 8/02 Page 3 The Developer Installed Improvements shall be installed in accordance with the City's Subdivision Ordinance, City standard specifications for utilities and street constmction, 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 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 preconstmction meeting with all parties concerned, including the City staff, to review the program for the construction work. Before the Security for the completion of utilities is released, iron monuments must be installed in accordance with Minn. Stat. 9505.02. 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 constmction work and all testing of Developer Installed Improvements. C. As-built location dimensions for sanitary sewer, watermain and storm sewer facilities. I: \02files\02subdi visions\02final p lats\fountain2nd\dev cont. doc 6/18/02 Page 4 9. DEVELOPER PROVIDED CONSTRUCTION SERVICES. The Developer shall be responsible for providing all other construction services including, but not limited to: 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. (Tie dimensions to sewer and water services from City staff or City consultants.) 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. 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 comers and monuments. 10. BOULEVARD AND AREA RESTORATION. The Developer shall seed or lay cultured sod in all boulevards within thirty (30) days, or within a time line 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 first. At the end of the one (1) year period from recording of the Plat, the Developer shall submit to the I: \02files\02subdi visions\02final p lats\fountai n2nd\dev cont.doc 6/18/02 Page 5 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 October 15, 2002, with the exception of the final wear course of asphalt on streets. The final wear course on streets shall be installed the first summer after the base layer of asphalt has been in place for one freeze thaw cycle. 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. 14. EROSION CONTROL.. Prior to initiating site grading, the erosion control plan, Plan B, shall be implemented by the Developer and inspected and approved by the City. The City may impose, at no cost to the City, additional erosion control requirements 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 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 I: \0 2fi1 es\02subdivisions\02final plats\fountain2nd\dev cont.doc 6/1 8/02 Page 6 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 39 shall not apply to notifications to the Developer under this paragraph. 15. CLEAN UP. 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 perfonn the required clean-up within 24 hours of receiving instructions and notice from the City, the City, without further notice, will perfonn the work and charge the associated cost to the Developer. If the Developer 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. The notice provisions set out in Paragraph 39 shall not apply to notifications to the Developer under this paragraph. 16. GRADING PLAN. A. The Plat shall be graded in accordance with the approved grading, development and erosion control plan(s), (Plan B). The plans and 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) I: \02fi1es\02subdi visi ons\02final pI ats\fountain2nd\dev cont.doc 6/18/02 Page 7 location and elevations along all swales and ditches, and c) lot comers 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. 17. OWNERSHIP OF DEVELOPER INSTALLED IMPROVEMENTS. Upon completion of the Developer Installed Improvements required by this Development Contract and final written acceptance by the City Engineer, the improvements lying within public right-of-way and easements shall become City property without further notice or action. 18. STREET MAINTENANCE. Developer shall be responsible for all street maintenance until final written acceptance by the City of the Developer Installed Improvements. 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 nonnal sweeping. 19. CONSTRUCTION ACCESS. Construction traffic access and egress for grading, public utility construction, and street construction is restricted to Fountain Hills Drive. No construction traffic is permitted on the adjacent local streets. 20. IMPROVEMENTS REOUIRED BEFORE ISSUANCE OF BUILDING PERMITS. A. Grading, 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. If building permits are issued prior to the acceptance of Developer Installed Improvements, the Developer assumes all liability and costs resulting in delays in completion of the Developer Installed Improvements and damage to Developer Installed Improvements caused by the City, or its agents or contractors, the Developer, its contractors, subcontractors, material men, employees, agents or third parties. 1: \02fi1es\02subdivisi ons\02final plats\foun tain2nd\dev cont. doc 6/18/02 Page 8 B. A 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, and processing ofrequests for reduction in security. 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, Section A, assuming normal construction and project scheduling. 22. REIMBURSEMENT OF CITY ADMINISTRATION FEES. Once the City approves the construction costs or estimates for the Developer Installed Improvements there will not be any reimbursement to the City by the Developer or to the Developer by the City for City Administration fees. 23. CITY CONSTRUCTION OBSERVATION. Construction observation shall include, but is not limited to, part or full-time inspection of proposed gr:ading, public utilities and street constmction and City legal expenses. The Developer shall deposit an amount equal to five percent (5%) of the estimated construction cost, less oversizing costs outlined in Exhibit D, Section A, for constmction 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. Extraordinary costs incurred by the City over and above the five percent (5%) Constmction Observation 1: \02fil es\02su bdi visions\02final p lats\fountain2nd\dev cont. doc 6/18/02 Page 9 fee shall be billed to the Developer. Extraordinary costs are defined as costs resulting from change orders applied to the project and costs incurred as a result of unknown conditions at the time of design. 24. STORM WATER MANAGEMENT FEE. The Developer shall pay a stom1 water management fee of $80,376.00 prior to the City signing the final Plat. The amount was calculated as follows: 7.17 acres at $2,943.00 per acre (R-1, R-2 and R-3) and 9.73 acres at $6,092.00 per acre (commercial and industrial). This calculation was determined by the Tnmk Storm Sewer Fee Determination Study adopted by City Council Resolution #01-03 on January 8,2001. 25. SANITARY SEWER AND WATERMAIN TRUNK AREA CHARGES. A Sanitary sewer and watermain tnmk area charge of $59,150.00 shall be paid by the Developer for sanitary sewer and watermain trunk: improvements prior to the City signing the final Plat. The amount was calculated as follows: 16.90 acres at $3500.00 per acre. 26. CITY-WIDE COLLECTOR STREET CONSTRUCTION CHARGE. This Development Contract requires the Developer to pay a City-wide Collector Street Construction Charge of $25,350.00 for collector street improvements prior to the City signing the final Plat. The amount was calculated as follows: 16.90 acres at $1500.00 per acre. 27 PARK AND TRAIL DEDICATION. Park and trail dedication requirements for this plat was satisfied in the plat of Fountain Hills Addition. No additional dedication is required. 28. STREET LIGHTS AND OPERATIONAL COSTS. 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. I: \02files\02subdi visi ons\02final p lats\fountain2nd\dev cont.doc 6/18/02 Page 10 29. LANDSCAPING. Landscaping for this Plat shall comply with Plan D. The cost of the landscaping requirements shall be provided by the Developer, subject to approval by the City. Subject to approved Plan D, the Developer shall provide a financial guarantee of $196,875.00 based on an amount equal to 125% of the estimated cost, as set out in Plan D, to furnish and plant the required landscaping and irrigation system. 30. TREE PRESERVATION AND REPLACEMENT. Subject to approved Plan C, and to the provisions of Section 1107.2100 of the City Zoning Ordinance, no tree replacement is required for this Plat. 31. 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 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 $1,082,244.00. The amount of the Security was calculated as follows: DEVELOPER INSTALLED IMPROVEMENTS COSTS: Sanitary Sewer $ 183,265.40 $ 155,295.00 $ 113,543.50 $ 256,191.00 $ 157,500.00 $ 0.00 $ 865,794.90 X 1.25 Page 11 Watermain Storm Sewer S treets/S i dew alks/T rails/S i gns Landscaping Tree Preservation and Replacement ESTIMATED DEVELOPER INSTALLED IMPROVEMENTS SUBTOTAL I: \02fi1es\02su bdi visi ons\02 final plats\fountain2nct\dev cont. doc 6/18/02 TOTAL FOR IRREVOCABLE LETTER OF CREDIT AMOUNT $ 1.082.244.00 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 Security shall be for a term ending December 31, 2003. 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. 32. CITY DEVELOPMENT FEES. The Developer shall also furnish the City with a cash fee of$242,789.00 for City Development Fees. The amount of the cash fee was calculated as follows: CITY DEVELOPMENT FEES: City Administration Fee (4%) $ 34,508.00 City Construction Observation (5%) $ 43,135.00 Storm Water Management Fee $ 80,376.00 Sanitary Sewer and Watermain Trunk Area Charges $ 59,150.00 City- Wide Collector Street Construction Charge $ 25,350.00 Park and Trail Dedication Fee (ifin lieu ofland) $ 0.00 TOTAL CITY DEVELOPMENT FEES $ 242.519.00 33. REDUCTION OF SECURITY. 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 1: \02files\02su bdi visions\02final plats\fountain2nd\dev cont. doc 6/1 8/02 Page 12 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. 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. 34. WARRANTY. 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 warranty period for streets is one year. The warranty period for underground utilities is two years. The warranty period on Developer Installed Improvements shall commence on the date the City Engineer issues written acceptance of the improvement. The Developer shall post warranty bonds as security. The City shall retain twenty-five percent (25%) of the Security posted by the Developer until the City Engineer accepts the Developer Installed Improvements and the warranty bonds are furnished to the City. 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. 35. OVERSIZING. 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 1: \02fi1 es\02subdi visi ons\02final plats\fountai n2nd\dev cont. doc 6/18/02 Page 13 Developer. Oversizing improvements include, but are not limited to, sanitary sewer, water, storn1 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 $3,100.00 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. 36. 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 Rule 22, Minnesota Rules of Civil Procedure for the District Courts, to draw upon the Irrevocable 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 letters of credit deposited with the 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 Y2 percent (1.5%) per month or any part of I: \02fi1 es\02subdi visions\02final p lats\fountain2nd\dev cont.doc 6/1 8/02 Page 14 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. (See Minn. Stat. 9471.425, Subd. 4a.) 37. 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. 38. DEVELOPER 'S DEFAULT. A. Definition. In the context of this Development Contract, "Event of Default" shall include, but not be limited to, anyone or more of the following events: (1) failure by the Developer to pay, in a timely manner, all real estate property taxes and 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; (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 I: \02fi1es\02subdi vi sions\02final plats\fountain2nd\dev cont.doc 6/18/02 Page 15 insurer of a notice of pending termination of insurance; (9) a breach of any material provision of this Development Contract. With respect to this paragraph, "material provision" shall be constmed 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 39 of this Development Contract, may take anyone or more of the following actions: 1. The City may suspend its perfoffilance 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 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, in this Plat. 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. 8. Any fees incurred by the City associated with enforcing any of the provisions set out in sections 1-7 above shall be the sole responsibility of the Developer. I: \02fi1es\02subdi visians\02final p lats\fountain2nd\dev cantdoc 6/18/02 Page 16 C. Election of Remedies. None of the actions set forth in this Section are exclusive or otherwise limit the City in any manner. 39. 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: Wensco, 1895 Plaza Drive, Suite #200, Eagan, MN 55122. Notices to the City shall be in writing and shall be either 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, 16200 Eagle Creek Avenue, Prior Lake, Milmesota 55372-1714. Concurrent with providing Notice to the City, Notice(s) shall be served upon the City Attorney Suesan Lea Pace, Esq. at Halleland Lewis Nilan Sipkins & Johnson, Pillsbury Center South, 220 South Sixth Street, Suite 600, Minneapolis, Minnesota, 55402-4501. 40. 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 fi-om 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. I: \02files\02subdivisi ons\02final p lats\fountain2nd\dev con t.doc 6/18/02 Page 17 41. NO THIRD PARTY RECOURSE. 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 40 shall apply to said actions. 42. INSURANCE REQUIREMENTS. Developer, at its sole cost and expense, shall take out 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 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 fOlID attached hereto as Exhibit C. 43. RECORDING DEVELOPMENT CONTRACT. This Development Contract shall nm with the land. The Developer, at it's 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 I: \02fi1es\02su bdi visi ons\02final p lats\fountain2nd\dev cont.doc 6/18/02 Page 18 in the property being final platted; and that the Developer indemnifies and holds the City harmless for any breach of the foregoing covenants. 44. SPECIAL PROVISIONS. 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 fonnat. The electronic format shall be compatible with the City's current software. 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. 45. 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 detem1ines that the Plat does not comply, or receives notice from any county, metropolitan, state or federal agency (collectively "Agency") that the development 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. I: \02fil es\02subdi visions\02final plats\fountain2nd\dev cant. doc 6/18/02 - Page 19 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. 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. Jurisdicition. This Development Contract shall be governed by the laws of the State of Minnesota. CITY OF PRIOR LAKE (SEAL) By: Jack G. Haugen, Mayor Approved as to form By: Suesan Lea Pace, City Attorney By: Frank Boyles, City Manager DEVELOPER: By: Its: By: Its: 1: \02files\02subdivisi ons\02final plats\foun tain2nd\dev cont.doc 6/1 8/02 Page 20 STATE OF MINNESOTA ) ( ss. COUNTY OF SCOTT) The foregoing instrument was acknowledged before me this _ day of , 20_, by Jack G. Haugen, 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. NOTARY PUBLIC 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 16200 Eagle Creek A venue SE Prior Lake, Minnesota 55372 I: \02files\02subdi visi ons\02final plats\fo untain2nd\dev cont. doc 6/18102 Page 21 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 tlus _ day of 20_, by NOTARY PUBLIC DRAFTED BY: City of Prior Lake 16200 Eagle Creek Avenue SE Prior Lake, Minnesota 55372 I: \02fil es\02subdi visions\02final p Jats\fountai n2nd\dev cont. doc 6/18/02 Page 22 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 16200 Eagle Creek A venue SE Prior Lake, Minnesota 55372 1:\02fi1es\02subdivisions\02final plats\fountain2nd\dev cont.doc 6/J 8/02 Page 23 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 16200 Eagle Creek Avenue SE Prior Lake, Minnesota 55372 1: \02fi les\02subdi visions\02final p lats\foun tain2nd\dev cont. doc 6118/02 Page 24 EXHIBIT A "''''''' ...'. a,.'.'b (""'" g~ ~i >; / _ 555.'6 E f' P-T ~:l9.l0 /'~~/~ '1(/..00 ~ 502.15 o __.[ UHf: Of iWE ,..01";1:0',... I W 10.00 rn:T - , . ili-"'" "'n' ," ~'(.. _.__'___./.--- 11f~ -,;"'0' _' -' -' :' -~ "l! -, \ " ~ ,-,,~.It . F>: \' "i ~ri : 6 G' J ~:t 11 I -b .' ~ ~~ ~~ \ ~ ^ I ....' ~:~ i i ~R ~ - ui ~ l -< '\10"...... \. ." 1m;; ~; ;:i ~o I ~ :..~ . as Z \~. e j~ \ '. !!~ 0 '/.. ~B ~ " !s _ '. _{~ '<~., ;, \ ;1 ~ I ;: 'lin ,- ~. , '. " / ~ " 'f... ,t,l/ '-'-<F- -:/ - ~ I ~. ~ ..";.lil~-.-'-- l:: ~ I (, ~ ^ I \ (II ,-. \~~ /\ I v . ~ ,.. d ~ , ,'/ " ~.~~ I ~~:! ) ',. ' ~"', '"' ~ \ ~ ~'b I ~ I , -:., I \~1': "\ ~i~ ::l-~ ~; i ~~ g ~:::~ . o J ~ 1------'1":;;----- 8 C ~: v". : .::. :~ z ~~ I ':-.., I ":..r 'f-l i~i in'" i ~:)> ;r;:~ ! ----+--~~ Z ~. , ! ~.:-'''''''''I!l ~ I +.., ' ,<co ,9 ~ L ".! .?- i! I ____~~ ~_____j r r U) N01"'20',...W c r "- I ~6l:E ~~~~o~ ~10 , I I I I u> I !l: I ~i .; I~ ~i 0 I~ 0 ~~ ... I i I i I c I . 0 I .~ ~~::::;?f\ ClO II I 0 Po -; ., ~I I I I N r -~ i. B ~; i f' .~ "',.- \ I ~~\ (). '" Ui"'~"~ ~g ~j- \ ..! :t'?&'" o-^ ~~,..! l' ::l \ 1:. \ I ;:~, ~ b. ~~... ....' tf~58~ i .;f,~ ~ ,._ ~~",ol\l~" ct'\i ~~ \ . 0 c-_ .c~l''''';' i'..c~ <f:I;<! \ ',"I, ,CIj .~c... c..,'~" / ~"J;;;:f--~'" '" '" ... , ,,' / )'7 f './ .ct:: ,/~.'jj. " " ,.-"'" ;1'::; ~ j i.'1 I o ",,0]:...-./-.-.- ~'''''' /,<0"'- . i - _" Lo 'fr-:;- /-,z_ '1 : .' s ,It:/ _...0 ' I ,~~. 6:~-"i~i i ..... '1 -, ..~ /t '" ~ii ~~~ ~ ;- I CJ _ ,:/1' ~~~ ~~. ~ ;oJ I ( (. _~~~.~~ <> "~I ;-= I~ . ~~ ~e I I g ~ pi ,.-'- ~ _~ .- ., I I~~ -~ -. ..1. IS" P SO"01'30';"- ,/ ~-'-:::: ------.--./ I L/\I PII<E LAKE ...-J'" A : L :?45E5~ .', ~ Co ~ F'lKEL:J<:'<" rR.!J:.. ~.r.1 -;.- +".'-1" , \) ~ ,.. ro '11:::.:~, '<i,. I '-E'--- - ~."".. -c:::.. ~~ L~ I p """ '" \ H I L . n N- ri' d i~ ~. go ~ ~ i 3 - ~ % !I :I 1 ~ .~ '" I~[ i1 . 0 . .. f ~ ~ ~!~ o. ~"" r*a ~~2. =~i .~ ; ~~z ;"! ~ ~~~ 3i> ! i~ ~i l-II ! ~ 8 . 3 :t :;. ~ E ~ ! z I" ~ ; o ~ i ~ G. 2 !ii Cl :: ..... -;. ~ r: " ; ~ 1 i 00 :1:1 I;\n ~~ ~~ ~ n ~l H "l ill- H I:~ f; ~! ~i ~l ~i ~: ~! I!~ c>' z", :11;\ I;\c ~ ~ g~:g>- ~a~~~1 r:~l'~: ~:.~-g! :-t ~~:~ It. 0'. z;: ~!.!;: !!;~o.e.;:r ~; ~ g:! "t~: ~,.~ ![iiil :gs;.i!l ._;: 'l(G. if~!I~ od,=o ilOo.9.g;: ~: :: ~i . ~ 11 g ,,"tl I: Z _o'!i'~' ~o H~~~: ~j e : ~ ;;~: :I"tl s~~;~~ ;j ~5':~-&. g ?:;'i~i!l ,.~;!-; ~e:g[. ::~S! ~~~~: JHU [;~~~ g g::tVl . N o 5 It g-[ ~ 0 ~~ o ~ ~ " 1 ~ [ '< I~ . . f I ~ ~ i ~ I . i s . . ~~ ~~ 3 ~ ~ ii c~ gg &p o~ C~ ~~ ~~ -~ ~2 ::J:i ~ . .. :: f ! *.. * It- ... ~ ']! -lie. .....~ ~*. . m . II J D , II Ii !j !i II < ~ a ~ . .. 0 . . , 00 ~i " ~ ~~~~~~~ a",,~xEc!K: mlll~"'.:'"~ ~~~F~~~ ~z~~~~: Pl2;:1z-l~~ i:;~~7~ ~;~~;o'~ :~~~~~I ~i;z:~~ It:~~~Z~ ~~~~~-< ~-~ ~ ~VI 1/1 ~l~l . if t~i ! ; . ~ i ! ; ! ~. i 1 !l. i ~ ::- . 3 ~ ~ ~ ~~ ::I"' l;ll;l I ~ >' NOlL I-'klLlMINARY Sub ject to " without reVISion notice. :~~ ~~~ ~.>~ o~. ag~ =zm ~~~ ;~2 ~Vl~ ~~1'1 n,,~ o:l~ :~i! ~~i i2; i ~ ~~ ~ ~a a c- o ..... 6 ~; ;; 02 2 ~co . C ~ ~ n- o 2~ ~ ~z ~ E~ .~ ili'i' ~. ~'i' me NC p.g ., o ~~~ ~ .g; ;; o z. N Z o )> o o -l o Z i oZ ; :; ~ ~:;: ! lOA ld ~ ~~ i ]:; :c CD:: ~ ~, .~ f~ I~ g-r ~i I ~ .i II .i~ :~l!.!":!.~CD ~~ H~~:~g~!;:;i ~ li "::,;:~::~8.I [ i: ;t~~3~~;i:! ! t;~I:~~~~: !t ~:!;~::~~! i a!'~~!:;5~:,,~ _0 ;l~l;=ig;:!t :o...~e-.~a 1'" :'i.f~;~!:li _o.;:r. 10 ;:r.-i,.,2. ~~g:~;g:fi~i ::i~ oi: :'F ~j~H~~~~! f ~~l!;~~~~~ :;i;~::~~; 5:g&.~iDii>2. lill!lli!! II [~ ~ ~ ~ _!? .1I:i .. f;> ..~ ;~ f~ f~ !~ i: z ~ '^ B:r 03'.. ~~ i; ~ ~ia :l l~ ~ l = ~H ; ~;1 ~ i; ..g . S ~ . ~~ i !a 'V 0'; g: ~5" S ,__0 '0" '0;_ H .- H ~~ og ~i n ij': I: s" ~i it 11 :~ I; ~~ :;~ o z ~i 0" ~F o~ 'N ~5 ;~ D"2 -:l ~\? i " I n ;i '0 ~: U H o H " EXHIBIT "B" SAMPLE IRREVOCABLE LETTER OF CREDIT No. Date: TO: City of Prior Lake 16200 Eagle Creek Avenue Prior Lake, Minnesota 55372-1715 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. (Name of Bank) "; , dated , 20_, of 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 November 30,20_. 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 November 30 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, 16200 Eagle Creek Avenue, Prior Lake, Minnesota 55372-1714, and is actually 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 1:\02fi1es\02subdivisions\02finaJ plats\fountain2nd\dev contdoc 6/18/02 Page 26 EXHIBIT "C" SAMPLE CERTIFICATE OF INSURANCE PROJECT: CERTIFICATE HOLDER: City of Prior Lake 16200 Eagle Creek Avenue Prior Lake, Minnesota 55372-1714 INSURED: ADDITIONAL INSURED: City of Prior Lake AGENT: WORKERS' COMPENSATION: Policy No. Effective Date: Expiration Date: Insurance Company: COVERAGE - Workers' Compensation, Statutory. GENERAL LIABILITY: Policy No. Effective Date: Expiration Date: Insurance Company: ( ) Claims Made ( ) Occurrence LIMITS: [Minimum] Bodily Injury and Death: $1,000,000 for one person $2,000,000 for each occurrence Property Damage: $500,000 for each occurrence -OR- Combination Single Limit Policy $1,000,000 or more COVERAGE PROVIDED: I: \02files\02sll bdi visions\02final plats\fountain2nd\dev cont.doc 6/18/02 Page 27 Operations of Contractor: YES Operations of Sub-Contractor (Contingent): YES Does Personal Injury Include Claims Related to Employment? YES Completed OperationslProducts: 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: Expiration Date: Insurance Company: (X) Any Auto LIMITS: [Minimum] Bodily Injury: $1,000,000 each person $2,000,000 each occurrence Property Damage: $500,000 each occurrence -OR- Combined Single Limit Policy: $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 MAlL TIllRTY (30) DAYS WRITTEN NOTICE TO THE PARTIES TO WHOM TillS CERTIFICATE IS ISSUED. Dated at On BY: Authorized Insurance Representative I: \02files\02subdivisions\02 final plats\fountain2nd\dev cont. doc 6/18/02 Page 28 EXHIBIT D OVERSIZING COSTS FOUNTAIN HILLS 2ND ADDITION ~. WATERMAIN* UNIT PRICE UNIT PRICE OVERSIZING DESCRIPTION UNIT QTY. 12" PIPE 8"PIPE COST CITY COST 12" DIP WATERMAIN LF 620 $ 30.00 $ 25.00 $ 5.00 $ 3,100.00 I TOTAL OVERSIZING $ 3,100.00 * PER ASSESSMENT POLICY CITY WILL REIMBURSE FOR OVER SIZING IF MAIN IS LARGER THAN 8" Page 29 EXHIBIT E ENGINEER'S ESTIMATE for Fountain Hills 2nd Addition Grading, Utility, and Street Construction Prior Lake, Minnesota ..::::, 0 i..S ~w ~. . ,r. . Ii _ . . ,4P~:! { :'\\i U '...J', . "!I' II i I~, L. SECTION A - SITE GR<\DING 800 LF Tree Fence (Installed) @ $1.50 I LF = $1.200.00 900 LF Standard Erosion Control Fence (Installed) @ $2.00 I LF = $1.800.00 1960 LF Standard Erosion Control Fence (Installed after Site Grading) @ $2.00 ILF = $3.920.00 1330 LF Heavy Duty Erosion Control Fence (Installed) @ $3.00 ILF = $3.990.00 10000 CY Sub grade Correction (Measured) @ $1.50 ICY = $15.000.00 84155 CY Common Excavation @ $1.20 ICY = $100.986.00 12.1 AC Seed and Mulch @ $400.00 lAC = $4.840.00 9500 CY Top Soil Respread @ $0.60 ICY = $5.700.00 1 LS Clear and Grub (Grading & Utilities) @ $8.000.00 ILS = $8.000.00 7000 SY Wood Fiber Blanket @ $2.00 ISY = $14.000.00 6080 SF Retaining Wall @ $20.00 ISF = $121.600.00 3 EA Gravel Construction Entrance @ $500.00 lEA = $1.500.00 SECTION A .. SITE GRADING TOTAL = $282.536.00 SECTION B - SA.l\TITARY SEWER 922 LF 8" PVC SDR 35,0'-12' Depth @ $22.00 I LF = $20.284.00 392 LF 8" PVC SDR 35, 12'-14' Depth @ $24.00 ILF = $9.408.00 312 LF 8" PVC SDR 35. 14'-16' Depth @ $26.00 /LF = $8.112.00 37 LF 8" PVC SDR 35,16'-18' Depth @ $28.00 /LF = $1.036.00 32 LF 8" PVC SDR 35,18'-20' Depth 0.) $30.00 ILF = $960.00 "-' EXHIBIT E 205 LF 8" pve SDR 26,0'-12' Depth @ $29.00 ILF = $5.945.00 96 LF 8" pve SDR 26, 12'-14' Depth @ $31.00 ILF = $2.976.00 242 LF 8" pve SDR 26, 14'-16' Depth @ $33.00 ILF = $7.986.00 471 LF 8" pve SDR 26, 16'-18' Depth @ $35.00 ILF = $16,485.00 -')') LF 8" pve SDR 26, 18'-20' Depth @ $38.00 ILF = $19.836.00 )~- 80 LF 8" pve SDR 26,20'-22' Depth @ $41.00 ILF = $3.280.00 19 EA 48" Dia Manhole 0'-10' Depth @ $2.300.00 I EA= $43.700.00 81.48 VF Manhole Extra Depth @ $130.00 NF = $10.592.40 64 EA 8" x4" WYE @ $130.00 lEA = $8.320.00 1565 LF 4" pve Service Pipe @ $13.00 ILF = $20.345.00 1 EA Connect to Existing @ $1.500.00 lEA = $1.500.00 1 LS Remove and Restore Trail to Original Section @ $2.000.00 ILS = $2.000.00 1 LS Sewer Test @ $500.00 ILS = $500.00 , SECTION B - SANITARY SEWER TOTAL = $183.265.40 SECTION C - WATERNIAIN 620 LF 12" D.I.P. C1. 52 @ $30.00 ILF = $18.600.00 2255 LF 8" D.I.P. C1. 52 @ $25.00 ILF= $56.375.00 73 LF 6" D.I.P. CL. 52 @ $24.00 /LF= $1.752.00 30 LF 4" DJ.P. CL. 52 @ $20.00 ILF = $600.00 5460 LB D.I.P. Fittings @ $1.80 ILB= $9.828.00 6 EA Fire Hydrant wi Gate Valve @ $2.250,00 lEA = $13.500.00 EA Remove, Salvage, and Reinstall Existing Temporary Hydrant @. $1.000.00 lEA = $1.000.00 2 EA 12" Gate Valve w/Box @ $1.300.00 lEA = $2.600.00 8 EA 8" Gate Valve w/Box @ $700,00 lEA = $5.600.00 _.....,..._".........,..._."".~ ....._M...",_....~'""..,_ -.....---.-"".-..... - .. -,. ,_.....,,_...........^-"~~._..--..,.._.,.__... _.. .,- EXHIBIT E EA 4" Gate Valve wlEox @ $500.00 lEA = $500.00 64 EA 1" Corporation Stop @ $125.00 lEA = $8.000.00 64 EA 1" Curb Stop (cV, $125,00 lEA = $8.000.00 '-" 1710 LF 1" Copper Type K Service @ $14.00 ILP= $23.940.00 " EA Connect to Existing @ $1.500.00 lEA = $3.000.00 .) LS Watermain Testing @ $2.000.00 ILS= $2.000.00 SECTION C - W ATERMAIN TOTAL $155.295.00 SECTION D- STORl\1 SEWER 279 LF 12" RCP CL. 5 @ $25.00 I LF = $6.975.00 176 LP 15" RCP C1. 5 @ $27.00 ILP = $4.752.00 169 LF 18" RCP C1. 5 @ $30.00 ILF = $5.070.00 113 LF 21" RCP C1. 4 @ $34.00 /LF = $3.842.00 228 LF 24" RCP C1. 3 @ $38.00 ILF = $8.664.00 631 LF 27" RCP C1. 3 @ $48.00 ILF = $30.288.00 1 EA 24" F.E.S. @ $1.500.00 lEA = $1.500.00 1 EA 24" F.E.S. wi Trash Guard @ $1.800.00 lEA = $1.800.00 3 EA 27" F.E.S. @ $2.000.00 lEA = $6.000.00 1 EA 27" F.E.S. wi Trash Guard @ $1.500.00 lEA = $1.500.00 38.7 CY RlP RA..P Class IV @ $75.00 ICY = $2.902.50 1 EA Control Structures @ $2.500.00 lEA = $2.500.00 2 EA 27" Diameter Catch Basin @ $1.000.00 lEA = $2.000.00 4 EA 24" x 36" Catch Basin ICiJ $1.200,00 lEA = $4.800,00 '-" 6 EA 48" Diameter Manhole @ $1.350.00 lEA = $8.100.00 9 EA 48" Diameter Catch Basin Manhole @ $1.350.00 lEA = $12.150.00 2 EA 60" Diameter Catch Basin Manhole @ $2.500.00 lEA = $5.000,00 210 LF 4" Perforated Drain Tile @ $20.00 I LF = $4.200.00 EXHIBIT E EA Connect to Existing (a) $1.500.00 lEA: $1.500.00 ~ SECTION D - STORlVI SEvVER TOTAL $] 13.543.50 SECTION E - STREETS 9200 SY Sub grade Preparation @ $0.50 /SY: $4.600.00 9200 SY 24" Select Granular @ $5.00 /SY = $46.000.00 5600 SY 9" CL. 5 Aggregate Base (l00% Crushed limestone) @ $6.00 /SY = $33.600.00 3500 SY 12" CL. 5 Aggregate Base (100% Crushed limestone) @ $7.50 /SY = $26.250.00 4580 SY 2 ~S" Bituminous Base - 2331 (31B) @ $3.80 ISY: $17.404.00 3040 SY 3" Bituminous Base - 2331 (31B) @ $4.80 ISY = $14.592.00 4580 SY 1 W' Bihlminous Wear - 2341 (41A) @ $3.00 /SY = $13.740.00 3040 SY 2" Bituminous Wear - 2341 (41A) @ $4.00 /SY = $12.160.00 440 GL Tack Coat -2357 @ $1.00 /GL: $440.00 1391 LF B618 Concrete Curb & Gutter @ $9.00 /LF = $12.519.00 718 LF B6l2 Concrete Curb & Gutter @ $lO.OO/LF: $7.180.00 . 2618 LF Mountable Concrete Curb & Gutter @ $8.00 /LF: $20.944.00 7 EA Adjust Gate Valve & Box @ $250.00 lEA = $1. 750.00 14 EA Adjust Catch Basin Casting @ $100.00 lEA = $1.400.00 15 EA Adjust Manhole Casting @ $250.00 IEA= $3.750.00 2 EA Concrete Valley Gutter @ $1.000.00 IEA= $2.000.00 EA Concrete Apron @ $2.000.00 IEA= $2.000.00 4 EA Pedestrian Ramp @ $300.00 IEA= $1.100.00 1050 SY Sub grade Preparation (5' Bit. Path) @ $2.00 /SY = $2.100,00 680 SY Sub grade Preparation (8' Bit. Path) @ $2.00 /SY = $1.360.00 130 Sy Subgrade Preparation (5' Concrete Walk) @ $2.00 /SY = $260.00 1050 SY 6" CL 5 Aggregate Base (100%> Crushed limeslOne)- 5' Bit. Path @ $4.00 /SY = $4.200.00 ~...w.___.~ __"',,.,___.______~__...,_..___,_. ,_ ,_ _< ,.._..,~>...",.~_w."____.~____..__"_.,.~._._"._.._.,._~____._.._"~_~___~..._.".~_."._........_.____._"_,'_.,,~__ EXHIBIT E 680 SY 6" C1. 5 Aggregate Base (100% Crushed limestone)- 8' Bit. Path @ $4.00 /SY = $2.720.00 130 SY 4" Granular - 3149 (5' Concrete Walk) @ $3.50 /SY = $455.00 1350 LF 5' x :2 ~::" Bituminous Path - 2331 (41A) @ $5.00 /LF = $6.750.00 610 LF 8' x 2 ~S" Bituminous Path - 2331 (41A) @ $6.00 /LF = $3.660.00 190 LF 5' x 4" Concrete Walk @ $17.00 /LF = $3.230.00 LS Install Temporary Cul-de-Sac @ $3.000.00 /LS= $3.000.00 LS Bituminous Removal (Existing Temporary Cul-de-Sac) @ $ 1.500.00 /L8= $1.500.00 105 LF Removal Existing Curb and Gurter @ $10.00 /LF = $1.050.00 1 LS Backfill Curb & Gutter Restore Blvd Seed & Mulch Disturbed Areas @ $1.000.00 /LS = $1.000.00 1535 SY Sod (3' Back of Curb) @ $2.20 /SY = $3.377.00 SECTION E - STREETS TOTAL $256.191.00 TOTALS TOTAL SECTION A $282.536.00 TOTAL SECTION B $183.265.40 TOTAL SECTION C $155.295.00 TOTAL SECTION D $113.543.50 TOTAL SECTION E $256.191.00 GRL\.ND TOTAL $990.830.90 EXHIBIT "F" TO DEVELOPMENT CONTRACT CONDITIONS OF PLAT APPROVAL 1. A current title opinion or commitment of title insurance is submitted acceptable to the City Attorney. 2. Payment of all fees prior to release of the final plat mylars. 3. Reductions of the entire final plat be submitted, to the following scales: 1" = 200' and one reduction at no scale which fits onto an 81/2" x 11" sheet of paper. 4. Four mylar sets of the final plat with all required signatures are submitted. 5. The developer provides financial security, acceptable to the City Engineer prior to release of the final plat mylars. 6. 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 September 24, 2002, will render the final plat null and void. I: \02files\0 2subdi visions\02final plats\ fountain2nd\dev cont. doc 6/1 8/02 Page 35 CONTRACT FOR DEVELOPMENT OF LAND AS A PLANNED UNIT DEVELOPMENT IN THE CITY OF PRIOR LAKE, MINNESOTA, TO BE KNOWN AS FOUNTAIN HILLS 2ND ADDITION THIS CONTRACT, made and entered into as of the 24th day of June, 2002, by and between the City of Prior Lake, (hereinafter "CITY") a municipal corporation organized under the laws of the State of Minnesota and Wensco, (hereinafter "DEVELOPER") a Minnesota corporation. RECITALS WHEREAS, DEVELOPER is duly organized to do business in the State of Minnesota and owns the PROPERTY within the City of Prior Lake; Scott County, Minnesota legally described in attached Exhibit A, and WHEREAS, DEVELOPER desires to develop the PROPERTY legally described and depicted in Exhibit A ("DEVELOPMENT PROPERTY"); and WHEREAS, the City has approved a preliminary plat and final plat for the DEVELOPMENT PROPERTY, which approval is subject to certain conditions including the Developer enter into the City's standard development contract; and WHEREAS, DEVELOPER has made application to City Council for approval to develop the DEVELOPMENT PROPERTY as a Planned Unit Development (Planned Unit Development); and WHEREAS, on Aprill, 2002, the DEVELOPER received approval of a preliminary Planned Unit Development plan and a preliminary PLAT for the development known as Fountain Hills 2nd Addition; and WHEREAS, on Aprill9, 2002, the DEVELOPER filed an application for approval of Final Planned Unit Development; and _ 1:\02files\02puds\fountain hills 2nd final\pud contract.doc Page 1 WHEREAS, the CITY has granted preliminary Planned Unit Development approval and final Planned Unit Development approval to the DEVELOPER subject to certain conditions including that the DEVELOPER enter into this CONTRACT and meet all of the terms and conditions hereafter set forth; and WHEREAS, under authority granted pursuant to Minnesota Statutes Chapter 462 and the Zoning Ordinance of the City of Prior Lake the CITY COUNCIL has agreed subject to the terms and conditions set forth herein, to approve the final Planned Unit Development FINAL PLANS. NOW, THEREFORE, in consideration of the mutual promises, covenants and conditions contained herein, the sufficiency of which is not disputed, it is hereby agreed as follows: 1. RECITALS The Recitals set forth above are herein incorporated as if fully set forth. 2. PURPOSE OF CONTRACT 2.1 The purpose of this Contract is to set out the terms and conditions pursuant to which the City Council of the City of Prior Lake grants its approval for the Developer to develop the Development Property as a Planned Unit Development. The terms and conditions set forth herein are intended to promote and protect the orderly development of land within the City and to assure that the development of the Development Property is done in a manner to protect and preserve the health, safety and welfare of the citizens and property within the City. 2.2 This CONTRACT is intended to achieve the following objectives:' a) To insure compliance with the purpose, requirements and criteria set forth in Section 1106 in the Zoning Ordinance for a Planned Unit Development. b) To clarify the rights and responsibilities of the parties to this CONTRACT. c) To incorporate, as an integral part of this CONTRACT, a Developers Contract dated June 17,2002 by and between the CITY and DEVELOPER relating to the Final PLAT of Fountain Hills 2nd Addition. 3. FINDINGS 3.1 The Prior Lake Zoning Ordinance sets out goals and objects against which all applications for Planned Unit Developments must be evaluated against. The final Planned Unit Development plan is consistent with the goals and objectives of a 1:\02files\02puds\fountain hills 2nd frnal\pud contract.doc Page 2 Planned Unit Development as specified in the Zoning Ordinance. To that effect, the City Council has made the following findings: 3.1.1 Greater utilization of new technologies in building design, materials. construction and land development. The DEVELOPER has designed the buildings so they fit the land, rather than force the land to fit the building design. The row houses along the outer ring of the development take advantage of the natural grade. 3.1.2 Higher standards of site and building design. The density of this site is clustered on the west side of the site to avoid the wetland and the trees on the east side of the site. The units have also been placed as far north as possible to preserve the trees on the south boundary of the site. The utilization of private streets in the townhouse portion of the development allows the preservation of the wetlands and some of the slopes and trees on this site. 3.1.3 More efficient and effective use of streets, utilities, and public facilities to support high quality land use development at a lesser cost. Maintenance of private streets, including plowing and future repairs, is done by the homeowners association. This reduces City costs in providing services to these homes. 3.1.4 Enhanced incorporation of recreational, public and open space components in the development which may be made more useable and be more suitably located than would otherwise be provided under conventional development procedures. The DEVELOPER provides a trail around the wetland. This trail will connect to the existing sidewalk Fountain Hills Court and Fountain Hills Drive. 3.1.5 Provides a flexible approach to development which allows modifications to the strict application of regulations within the various Use Districts that are in harmony with the purpose and intent of the CITY's Comprehensive Plan and Zoning Ordinance. The density and variety of housing units is consistent with the Comprehensive Plan goals to provide a variety of housing styles. 3.1.6 Encourages a more creative and efficient use of land. The PUD allows the higher density areas to be clustered, and preserves open space. 3.1.7 Preserves and enhances desirable site characteristics including flora and fauna, scenic views, screening and buffering, and access. The townhouse units are sited to take advantage of the natural terrain. 1:\02files\02puds\fountain hills 2nd fmal\pud contract.doc Page 3 3.1.8 Allows the development to operate in concert with a Redevelopment Plan in certain areas of the CITY and to insure the redevelopment goals and objectives within the Redevelopment District will be achieved. This criteria is not applicable. 3.1.9 Provides for flexibility in design and construction of the development in cases where large tracts of land are under single ownership or control and where the users) has the potential to significantly affect adjacent or nearby properties. The use of the PUD allows the clustering of the homes and the use of private streets. 3.1.10 Encourages the DEVELOPER to convey property to the public, over and above required dedications, by allowing a portion of the density to be transferred to other parts of the site. There is no additional parkland dedication in this plat. 3.1.11 The design shall consider the whole of the project and shall create a unified environment within the boundaries of the project by insuring architectural compatibility of all structures, efficient vehicular and pedestrian circulation, aesthetically pleasing landscape and site features, and efficient use and design of utilities. The design creates a unified environment. The extension of the existing streets and provision of trails and sidewalks allows for efficient movement of traffic. The landscaping plan meets the requirements of the Zoning Ordinance and also enhances this area. 3.1.12 The design of a Planned Unit Development shall optimize compatibility between the project and surrounding land uses, both existing and proposed and shall minimize the potential adverse impacts of the Planned Unit Development on surrounding land uses and the potential adverse effects of the surrounding land uses on the Planned Unit Development. The use of the PUD will allow the clustering of the townhouse units and provide a transition from the commercial area on the west to the single family area on the east side of Pike Lake Trail. 3.1.13 If a project for which Planned Unit Development treatment has been requested involves construction over a period of time in two or more phases, the applicant shall demonstrate that each phase is capable of addressing and meeting each of the criteria independent of the other phases. The PROJECT will be completed in one phase. 3.1.14 A Planned Unit Development in a Residential Use District shall conform to the requirements of that Use District unless modified by the following or other provisions of this Ordinance. 1) The tract of land for which a 1:\02files\02puds\fountain hills 2nd final\pud contract.doc Page 4 _~. _' "m"<~_"~""'_'_~.~_-"'''_'_~'_''''___ m'_"'_""_'_~__'__"W'_,__"",.,_~,~ .. ,_."_.__._-_._._~,~,.,~""",,,,-,-'---'-,- ...-.-......-~--,-......... project is proposed shall have not less than 200 feet of frontage on a public right-of-way; 2) No building shall be nearer than its building height to any property line when the property abutting the subject property is in an "R-l" or "R-2" Use District; 3) No building within the project shall be nearer to another building than ~ the sum of the building heights of the two buildings, except for parking ramps which may be directly connected to another building; and 4) Private roadways within the project site may not be used in calculating required off-street parking spaces. The PROJECT meets the above requirements; as approved, the Planned Unit Development will allow the DEVELOPER to utilize private streets, which is permitted under the Planned Unit Development provisions at the discretion of the Council. The plan also reduces the front yard setbacks on the private streets and the setbacks between the buildings in order to allow the clustering of the units. The plan also allows the DEVELOPER to utilize vinyl siding on the buildings with more than four units. 4. DEFINITIONS, RULES OF INTERPRETATION, AND EXHIBITS 4.1 Definitions In this CONTRACT the following terms shall have the following respective meanings unless the context hereof clearly requires otherwise: 4.1.1 "APPROVED FINAL PLAN" means all those plans, specifications, drawings and surveys attributable to the DEVELOPER and the DEVELOPER INSTALLED PUBLIC IMPROVEMENTS listed in Exhibit F. 4.1.2 "CITY" means the City of Prior Lake, a governmental subdivision of the State of Minnesota. 4.1.3 "CITY ATTORNEY" means the City Attorney of the City of Prior Lake. 4.1.4 "CONTRACT" means this Contract for Development of Land as a Planned Unit Development in the City of Prior Lake, Minnesota, and all referenced and incorporated exhibits by and between CITY and DEVELOPER, as the same may be from time to time modified, amended or supplemented. 4.1.5 "DEVELOPER" means Wensco, or its heirs successors and assigns. 4.1.6 "DEVELOPER INSTALLED IMPROVEMENTS" means all those improvements listed in Exhibit F. 4.1.7 "DEVELOPMENT CONTRACT FOR PUBLIC IMPROVEMENTS" means the contract titled Development Contract for Fountain Hills 2nd Addition and signed by and between the DEVELOPER and the CITY 1:\02files\02puds\fountain hills 2nd final\pud contract.doc Page 5 required as a condition for the construction of all required public improvements related to this development. 4.1.8 "DEVELOPMENT PLAN" means the final Planned Unit Development plans approved by the Council attached as Exhibit B. 4.1.9 "INCLUDING" means including, but not limited to. 4.1.10 "PLAT" means the final plat and all related documents approved by the CITY. 4.1.11 "PROJECT" means the development of 10.16 acres into 64dwelling units pursuant to the terms and conditions of the approved final Planned Unit Development, the approved final PLAT and this CONTRACT. 4.1.12 "PROPERTY" means the real property, together with improvements, if any, described in Exhibit A. 4.2 Exhibits The following exhibits are attached hereto, incorporated by reference and made a part of this CONTRACT as if fully set forth herein. 4.2.1 Exhibit A - Legal Description of Development PROPERTY 4.2.2 Exhibit B - Approved Final Planned Unit Development Plans dated _ 4.2.3 Exhibit C - City Council Resolution 02-_ approving the Final Planned Unit Development Plans and the CONTRACT FOR THE DEVELOPMENT OF LAND AS A PLANNED UNIT DEVELOPMENT 4.2.4 Exhibit D - Covenants and Homeowner's Association Documents 4.2.5 Exhibit E - DEVELOPMENT CONTRACT FOR PUBLIC IMPROVEMENTS for the Approved Final PLAT known as Wensmann 1 st Addition. 4.2.6 Exhibit F - DEVELOPER INSTALLED PUBLIC IMPROVEMENTS 5. SCOPE OF PROJECT 5.1 The PROJECT to be known as Fountain Hills 2nd Addition consists of 10.16 acres, legally described as shown on Exhibit A, to be developed with a total of 64 townhouse units. The PROJECT also includes the development of a private street system, private open space, parking and landscaping. The PROJECT shall be developed as shown on the Approved Planned Unit Development Plans, attached hereto as Exhibit B. These plans include, but are not limited to site plans, landscaping plans, signage plans, lighting plans and building elevations. 5.2 The PROJECT is to be developed in a single phase, beginning in 2002 and ending in 2003. 6. DEVELOPER IMPROVEMENTS ~ 1:\02files\02puds\fountain hills 2nd final\pud contract.doc Page 6 6.1 The required DEVELOPER Improvements are described in the attached DEVELOPMENT CONTRACT FOR PUBLIC IMPROVEMENTS, which is incorporated as Exhibit E. 6.2 Access. The DEVELOPER hereby grants to the CITY, its agents, employees, officers, and contractors a non-revocable license to enter the PLAT during the installation and for the maintenance of DEVELOPER INSTALLED IMPROVEMENTS to perform all work and inspections deemed appropriate by the CITY. 7. DEVELOPER REPRESENTATIONS 7.1 DEVELOPER represents and warrants that neither the execution and delivery of this CONTRACT, the consummation of the transactions contemplated hereby, nor the fulfillment or the compliance with the terms and conditions of this CONTRACT is prevented or limited by, or in conflict with or will result in breach of, the terms, conditions or provisions of any restriction of DEVELOPER, or evidence of indebtedness, contract or instrument of whatever nature to which DEVELOPER is now party or by which it is bound or will constitute a default under any of the foregoing. 7.2 DEVELOPER agrees to hold harmless, indemnify and defend CITY, its Council, agents, employees and CITY ATTORNEY against any claims or actions brought as a result of DEVELOPER's performance under this CONTRACT or as a result of alleged actions or omissions on the part of DEVELOPER, its employees or agents. 8. RELEASE, HOLD HARMLESS AND INDEMNIFICATION 8.1 DEVELOPER releases from and covenants and agrees that CITY, its City Council, officers, agents, servants, attorneys and employees thereof (hereinafter for purposes of this paragraph, the "indemnified parties") shall not be liable for and agrees to indemnify and hold harmless the indemnified parties against any loss or damage to PROPERTY or any injury to or death of any person occurring at or about or resulting from any defect in the PROPERTY, development of PROPERTY or DEVELOPER IMPROVEMENTS. 9. EVENT OF DEFAULT 9.1 Event of Default Defined. Event of default is anyone or more of the following events: 9.1.1 Failure by DEVELOPER to timely pay all real property taxes assessed with respect to the PROPERTY; 1:\02fi1es\02puds\fountain hills 2nd final\pud contract.doc Page 7 9.1.2 Failure to construct the DEVELOPER's Improvements pursuant to the terms, conditions and limitations of the DEVELOPMENT CONTRACT FOR PUBLIC IMPROVEMENTS; 9.1.3 Failure by DEVELOPER to observe or perform any covenant, condition, obligation or contract on its part to be observed or performed under this CONTRACT; 9.1.4 Transfer of any interest in the development; 9.1.5 Failure by DEVELOPER to reimburse CITY for any costs increased by CITY in connection with this CONTRACT, including the enforcement thereof; including, but not limited to engineering fees, inspection and testing fees, attorney fees and other professional fees. 9.2 Remedy Upon Event of Default. Whenever an event of default occurs, the CITY after providing DEVELOPER notice as provided in paragraph 15, and may take anyone or more of the following actions: 9.2.1 CITY may cancel and rescind this CONTRACT. 9.2.2 CITY may draw upon and/or bring an action upon any or all of the securities including but not limited to the Irrevocable Letter of Credit, the Payment Bond, the Performance Bond or the Warranty Bond provided to CITY pursuant to the Development Contract for the PLAT ofWensmann 1st Addition (Exhibit G). 9.2.3 CITY may take whatever action, including legal or administrative action, which may be necessary or desirable to CITY to collect any payments due under this CONTRACT or to enforce performance and/or observance of any obligation, contract or covenant of DEVELOPER under this CONTRACT. 9.2.4 CITY may suspend issuance of Building Permits and/or Occupancy Permits on DEVELOPER's lots. 9.2.5 CITY may draw upon the Irrevocable Letter of Credit provided pursuant to the Development Contract for the PLAT of Wensmann 1 st Addition if CITY receives Notice that the bank elects not to renew the Irrevocable Letter of Credit. 9.3 Whenever an Event of Default occurs and CITY shall employ attorneys or incur other expenses, including employment of experts, for the collection of payments due or to become due or for the enforcement or performance or observance of any obligation or contract on the part of DEVELOPER herein contained, DEVELOPER agrees that it shall, on demand thereof, pay to CITY the reasonable fees of such attorneys and such other expenses so incurred by CITY. 9.4 Nonexclusive Remedy. None ofthe actions set forth in this Section are exclusive or otherwise limit the CITY in any manner. 1:\02fi1es\02puds\fountain hills 2nd fmal\pud contract.doc Page 8 10. WAIVER Failure of the CITY at any time to require performance of any provision of this CONTRACT shall not affect its right to require full performance thereof at any time thereafter and the waiver by the CITY of a breach of any such provision shall not be taken or held to be a waiver of any subsequent breach thereof or as nullifying the effectiveness of such provision. 11. ASSIGNMENT 11.1 DEVELOPER represents and agrees for itself, its heirs, its successors and assigns that DEVELOPER has not made or created and that it will not make or create or suffer to be made or created any total or partial sale, assignment, conveyance or any trust or power to transfer in any other mode or form of or with respect to this CONTRACT or in DEVELOPER without the prior written approval of the CITY. 11.2 The DEVELOPER may not transfer or assign this CONTRACT without the prior written permission of the CITY COUNCIL ofthe City of Prior Lake. The DEVELOPER's obligations hereunder shall continue in full force and effect, even if the DEVELOPER sells one or more lots, the entire PLAT, or any part thereof. 12. PERMITS 12.1 The DEVELOPER shall obtain all necessary approvals, permits and licenses from the CITY, and any other regulatory agencies and the utility companies. If any of the entities request a change to the APPROVED FINAL PLANS submitted for review, the DEVELOPER shall submit these changes to the CITY for approval. 12.2 All costs incurred to obtain said approvals, permits and licenses, and also all fines or penalties levied by any agency due to the failure of the DEVELOPER to obtain or comply with conditions of such approvals, permits and licenses, shall be paid by the DEVELOPER. 12.3 The DEVELOPER's shall defend and hold the CITY harmless from any action initiated by the other regulatory agencies and the utility companies resulting from such failures of the DEVELOPER. 13. RECORDING 13.1 This CONTRACT shall be recorded by DEVELOPER within sixty (60) days from approval of the Resolution approving the Final Planned Unit Development and Final PLAT, and all terms and conditions of this CONTRACT shall run with the land herein described, and shall be binding upon the heirs, successors, administrators and assigns of the DEVELOPER. The DEVELOPER shall provide and execute any and all documents necessary to implement the recording. If there 1:\02files\02puds\fountain hills 2nd final\pud contract.doc Page 9 be more than one developer, references herein to DEVELOPER shall mean each and all of them. 13.2 All recording fees, if any, shall be paid by the DEVELOPER. 14. NOTICE 14.1 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: Wensco, 1895 Plaza Drive, Suite 200, Eagan, Minnesota, 55122. Notices to the CITY shall be in writing and shall be either 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, 16200 Eagle Creek Avenue, Prior Lake, Minnesota 55372-1714. Concurrent with providing Notice to the CITY, Notice(s) shall be served upon the CITY ATTORNEY Suesan Lea Pace, Esq. at Halleland Lewis Nilan Sipkins & Johnson, Pillsbury Center South, 220 South Sixth Street, Suite 600, Minneapolis, Minnesota, 55402-4501. 14.2 The Notice period shall be fifteen (15) calendar days. 14.3 The Notice shall state a time by which the default must be cured. The time the CITY gives the DEVELOPER shall be determined in the sole discretion of the CITY; however, such time shall be a reasonable time. 15. MODIFICATIONS OR AMENDMENT This CONTRACT may be amended by the parties hereto only by written instrument executed in accordance with the same procedures and formality followed for the execution of this CONTRACT. 16. PROOF OF TITLE DEVELOPER shall furnish a title opinion or title insurance commitment addressed to the CITY demonstrating that DEVELOPER is the fee owner or has a legal right to become fee owner of the PROPERTY upon exercise of certain rights and to enter upon the same for the purpose of developing the PROPERTY. DEVELOPER agrees that in the event DEVELOPER's ownership in the PROPERTY should change in any fashion, except for the normal process of selling or conveying lots, prior to the completion of the PROJECT and the fulfillment of the requirements of this CONTRACT, DEVELOPER shall forthwith notify the CITY of such change in ownership and seek the CITY's approval to transfer the responsibility under this CONTRACT. Any change in ownership shall not release DEVELOPER from any of its obligations under this 1:\02files\02puds\fountain hills 2nd final\pud contract.doc . Page 10 CONTRACT, unless or until the CITY has approved transfer of this CONTRACT and then only to the extent agreed to by the CITY. 17. HEADINGS Headings at the beginning of paragraphs herein are for convenience of reference, shall not be considered a part of the text of this CONTRACT and shall not influence its construction. 18. SEVERABILITY In the event any provisions of this CONTRACT shall be held invalid, illegal, or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision hereof, and the remaining provisions shall not in any way be affected or impaired thereby. 19. CONSTRUCTION This CONTRACT shall be construed in accordance with the laws of the State of Minnesota. IN WITNESS WHEREOF, CITY and DEVELOPER have caused this CONTRACT to be duly executed on the day and year first above written. Approved by the City Council on the 17th day of June, 2002. APPROVED AS TO FORM: DEVELOPER: Wens co by Suesan Lea Pace, City Attorney By Its CITY OF PRIOR LAKE By: Its Manager By: Its Mayor This Development Contract must be signed by all parties having an interest in the PROPERTY. 1:\02files\02puds\fountain hills 2nd final\pud contract.doc Page 11 STATE OF MINNESOTA COUNTY OF SCOTT On the day of ,20_, before me, a Notary Public, with and for said County personally appeared Jack G. Haugen and Frank Boyles, to me personally known, being each by me duly sworn did say that they are the Mayor and City Manager, respectively, of the City of Prior Lake, a Minnesota municipal corporation, named in the foregoing instrument; and that said instrument was signed on behalf of the municipal corporation and acknowledged said instrument to be the free act and deed of said municipal corporation. Notary Public STATE OF MINNESOTA COUNTY OF SCOTT The foregoing instrument was acknowledged before me this ,20_ by and by and of Corporation, on behalf of said corporation. day of who are the , a Minnesota Notary Public This instrument prepared by: City of Prior Lake 16200 Eagle Creek Avenue S.E. Prior Lake, MN 55372 1:\02files\02puds\fountain hills 2nd final\pud contract.doc Page 12 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 Contract for Development of Land as a Planned Unit Development in the City of Prior Lake, 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. 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