The URL can be used to link to this page

Home My WebLink About#10 - Developer Agt DEVELOPER'S AGREEMENT r DEr """"l &:NDANT's EXHIBIT o THIS AGREEMENT, made and entered into this 19thday of Sept. , 1983 , by ana oeLWt:t:rr the CITY OF PRIOR LAKE, a municipal corporation organized under the laws of the State of -- .... :.1innesota (the "Ci ty") , and Priorview a Minneso.ta Lirni ted , (the "Developer"). WITNESSETH, TII..\.T: Partnership WlIEREAS, The Developer has made application to the City Council for approval of a plat of land within the corporation limits of the City described as follows: Priorview 1st Addition (the "Subdivision"): and WHEREAS, the City Council by resolution adopted July 18 ,1983, has granted pre- liminary approval to the Subdivision, on the condition that the Developer enter into this agreement to provide for installation of street, water, sewer and other improvements hereinafter described on the terms and conditions hereinafter set forth. NOW THEREFORE, in consideration of the premises and of the mutual promises and conditions hereinafter contained, it is hereby agreed as follows: 1. Improvements. In accordance with the policies and ordinances of the City, the following described improvements (hereinafter collectively called the "Improvements") shall be constructed and installed on the terms and conditions hereinafter contained: a) Street grading, graveling and stabilizing, including construction of boulevards and turf establishment (hereinafter called "Street Improvements): b) Storm sewers, when determined to be necessary by the City Engineer, including all necessary catch basins, inlets and other appurtenances (hereinafter called "Storm Sewer Improvements") : c) Sanitary sewer laterals or extension, including all necessary building services and other appurtenances (hereinafter called "Sanitary Sewer Improvements"): d) Watermain laterals or extensions, including all necessary building services, hydrants, valves and other appurtenances (hereinafter called "Watermain Improvements") and e) Permanen t street surfacing (here inafter called "Permanent Street Improvements") and f) Standard street name signs at all newly opened intersections and such other traffic control signs within the Subdivision determined to be, necessary by the City Engineer (here- inafter called "Traffi c Signing Improvemen ts If) . 2. Warranty of Developer. The Developer hereby warrants and represents to the City as inducement to the City's entering into this Agreement, that Developer's interest in the Subdivision is Fee owner (indicate whether fee owner, vendee under contract for deed from named vendor, or other vested interest). 3. Designation of Improvements. Improvements to be installed at Developer's expense by the Developer are hereinafter referred to as "Plan A Improvements". Improvements which th e cleve loper has POOO 18 P'lO'P 1 · petitioned the City to install and finance through the regular City assessment procedure hereinafter re'ferred to as "Plan B Improvements", a) The developer shall execute the Developers Agreement prior to final Council approval of the plat. 4) Plan A Improvements. The Developer will construct and install, at the Developer's expense. the following improvements under Plan A, according to the specifications submitted and approved by the City of Prior Lake for said project, prior to plat approval: a) In the event that the City Engineer determines that services should be over-sized in the area to be developed for the benefit of future development in contiguous or adjacent areas, there will be a determination by the City as to the cost of the over-sizing and the over-sizing of such facilities will be either credited to the fees the developer owes the City or be paid at the City's option. The City of Prior Lake shall assess the developer for over-sizing costs for trunk mains provided to serve this property, b) It shall be the obligation of the developer to furnish to the City plans and speci- fications by a registered professional engineer for said construction and before any construc- tion is commenced said plans must be approved by the City Engineer. The Developer shall provide full time inspection during construction and surveying. c) The City of Prior Lake shall charge the sum of ,6% of the total construction costs, payable prior to plat approval, subject to any increase or decrease of construction cost, as compensation for supervision, approval of plans, final acceptance and ongoing maintenance costs of facilities which will be turned over to the City of Prior Lake for addition to its existing municipal facilities. The Developer shall be responsible to provide and maintain eros ion control. d) The Developer agrees to furnish to the City of Prior Lake a letter of credit or per- formance bond in the sum of $ 49.192.50 which will guarantee completion of performance of the contract, according to the plans and specifications in the event of default by Developer. e) The Developer agrees to furnish the City of Prior Lake Liability Insurance to the satisfaction of the City Finance Director. S) Plan B Improvements. The Developer has petitioned the City for the installation of Plan B Improvements as follows: POOO 19 See Schedule A, Sheet 4. If the City Council orders the installation of Plan B Improvements, the City will cause such Plan B Improvements to be installed and the costs thereof to be assessed against the henefited properties on the following terms and conditions: a) Construction. After preparation of preliminary plans and estimates by the City Enginee 3n improvement hearing will be called by the City Council for the purpose of ordering these Plan B Improvements. After preparation of final plans and specifications by the City Engineer hids will be taken by the City and contracts awarded for the installation of the improvements under the City's complete supervision. b) Assessment. The entire cost of the installation of said improvements and all over- sizing costs for trunk mains, including any reasonable engineering legal and adm' , . t' . , Inl~rra Ive ,- ; '"V::li....., .;..il\..~.~.. ~\...""J .~. -_.\'- '-~ \....}. .~ 1...11.. . \,.. ....l.."".'~.t~.......\..4 ..J.~,li.ll."" \.l!'-. Id..~l'-.l.1. ~\..:U t)LUi-'\..~ l. :.'~..:' lit '\.\.."-Vl,...,L,l~,- ~ith the regular special assessment policies of the City of Prior Lake. The subdivider shall deposit with the City cash in the minimum amount of twenty-five percent (25%) of the total cost of Petitioned Improvements, which total cost has been estimated by the City Engineer in the amount of $ Such deposit shall be due at the time of the Agreement and the Subdivider's account shall be credited interest as determined by the City Finance Director. c) For purposes of Minnesota Statute 429.031 Subdivision 3, this Developers Agreement shall constitute a petition of a 100% of the property owners of the above described property. d) The City of Prior Lake shall charge the sum of 5% of the total construction cost, as compensation for ongoing maintenance of the facilities to be provided by the City of Prior Lake. This does not relieve the developer of his responsibility to provide and maintain erosion control on the site. 6) GE~ERAL a) Binding Effect. The terms and provisions hereof shall be binding upon and insure to the benefit of the heirs, representatives, successors and assigns of the parties hereto and shal be binding upon all future owners of any or any part of the Sudivision and shall be deemed covenants running with the land. References herein to Developer, if there be more than one, shall mean each and all of them. This Agreement, at the option of the City, shall be placed of record so as to give notice hereof to subsequent purchasers and encumbrancers of all or any part of the Subdivision and all recording fees, if any, shall be paid by the developer. Sanitary sewer, watermain and interium paving shall be complete by Nov. 1, 1983 Final paving shall be cVUll-'lete by Nov. 1. 1983 noncompliance of this will cause the performance bond or letter of credit to be called down, unless an extension of time is granted by the City Council. b) Notices: Whenever in this Agreement it shall be required or permitted that notice or demand be given or served by either party to this Agreement to or on the other party, such noticl shall be delivered personally or mailed by United States mail to the addresses hereinafter set forth by certified mail (return receipt requested). Such notice or demand shall be deemed timely given when delivered personally or when deposited in the mail in accordance with the above. The addresses of the parties hereto are as follows, until changed by notice given as above: If to the City at: CITY ENGINEER 4629 Dakota Street SE Post Office Box 359 Prior Lake, Minnesota 55372 If to the Developer: Thomas L. Steffens 3400 West 66th Street, Suite 200 Minneapolis, Minnesota 55435 920-5554 Page 3 P00020 I) tAN A Schedule A Sheet It CITY OF PRIOI~ LAKE ESTIMATED COST OF REQUIRED I~fPROVE"fENTS (based on average lot size) Subdivision Name ~iorview 1st Addition Unit Improvements Area Cost Part 1. 1. Grading 2. Street Sians 3. Boulevard Trees 4. Street Li&hting S. Replace lot cornors 6. Extra aaintenance of streets 6 storm sewer durin& development Part 2 1. Bituminous Surface 2. Permanent drainage 3. Sanitary Sewer TrWlk 4. Sanitary Sewer Lateral Servt ces s. Watermain Trunk 6. Water Lateral 7. Concrete curb 6 gutter Total Standard Cost Part 3 Special Require.ents 1. Subdivider Priorview a Minn. Limited Partnership Area Unit Frontage Total 1~tal Frontage Cost Total ~o~~_ -, 48,142.50 '4 ~1, 050 .00 2. 3. t'tl o o o tv ~ . Total Estimated Construction Cost Estimated City Fees Plan A 6% Estimated City Partial Payment Plan B (25%) $ 49.192.50 $ 2,951.55 S Total Escrow $ 2,951.55 , ....!' " . Page it . , , CJ Incorporatlon by Reference. All plans, speCial pruvIsions, prop()~als, '5pcl:ifi.c:J.tions and contracts for the Improvements financed and let pursuant to this Agreement shall be and hereby are made a part of this Agreement by reference as fully as if set out herein in full. IN WITNESS WHEREOF, the City and Developer have caused this Agreement to be duly executed for Plan A (A or B) on the day aryd year first above written. ~ r ~;~~~. I~~~ ~ By: ~;l/ ~t~ ItIS/#~ v By: It's DEVELOPER: Priorview a Minnesota Limited Partnership In Presence of: In ~ence o~d ~:~~ ~ c? By: Joseph W. Knoblauch It's General Partner STATE OF MINNESOTA) ) COUNTI OF SCOTT ) BY~ii~/#~ On this day of , 19 , before me, a Notary Public, within and and for said County personally appeared to me personally known, being each by me duly sworn did say that they are respectively the an d the . of the City of Prior Lake, the municipal corpor- ation named in the foregoing instrument; and that the seal affixed to said instrument is the corporate seal of said corporation, and that said instrument was signed and sealed in behalf of said municipal corporation by authority of it's City Council and said and acknowledged said instrument to be the free act and deed of said municipal corporation. Page 5 P00022