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HomeMy WebLinkAbout5F-Hickory Shores 5th Add. Plat & Dev. Contract b� PR12� U 4646 Dakota Street SE Prior Lake,MN 55372 `�jNivEso�P CITY COUNCIL AGENDA REPORT MEETING DATE: SEPTEMBER 22, 2014 AGENDA#: 5F PREPARED BY: DAN ROGNESS, COMMUNITY& ECONOMIC DEVELOPMENT DIRECTOR PRESENTED BY: DAN ROGNESS AGENDA ITEM: CONSIDER APPROVAL OF A RESOLUTION APPROVING THE HICKORY SHORES FIFTH ADDITION FINAL PLAT AND DEVELOPMENT CONTRACT DISCUSSION: Introduction D.R. Horton, Inc. - Minnesota has submitted request for approval of a Final Plat to be known as "Hickory Shores Fifth Addition". This site is located on Turner Drive. History The City Council approved the preliminary plat for Hickory Shores on May 15, 2006 for a residential development consisting of 80 single family homes and 38 townhouses, along with parks and trail on a total of 80 acres. When the final plat for the Fourth Addition was approved, the developer had to leave four fu- ture lots platted as one Outlot A since sanitary sewer had to service these lots from development to the south (now Hickory Shores South). Current Circumstances Hickory Shores Fifth Addition consists of four lots and one outlot for a trail. The street (Turner Drive) and all utilities are installed to serve these lots. The devel- opment of Hickory Shores South is now allowing sanitary sewer to serve these four lots; and therefore, four homes can be constructed there. Conclusion Staff has reviewed the final plat and finds it to be in substantial compliance with the approved preliminary plat. ISSUES: The principal requirements for final plat approval include conformance with all aspects of the preliminary plat and an agreement identifying the surety for the installation of utilities and streets. The Development Contract also specifies the development fees for the platted lots. The City received the complete application for this request on July 15, 2014. The City has notified the applicant that the due to required review by other gov- ernmental agencies, the City has chosen to extend the 60 day review period up to a possible 120 days (November 12, 2014). FINANCIAL Approval of this final plat will allow construction of new dwelling units, which will IMPACT: contribute to the City's tax base. ALTERNATIVES: The City Council has the following alternatives: 1. Motion and a second, as part of the Consent Agenda, to approve a resolu- tion approving the Hickory Shores Fifth Addition Final Plat and Develop- ment Contract. 2. Motion and a second to deny the resolution. 3. Motion and a second to defer this item and provide staff with specific direc- tion. RECOMMENDED Alternative#1 MOTION: ATTACHMENTS: 1. Final Plat 2. Development Contract#DEV2014-0017 0 PRlp� N U tr1 4646 Dakota Street SE �rl�vxEso�P Prior Lake, NIN 55372 RESOLUTION 14-XXX A RESOLUTION APPROVING THE "HICKORY SHORES FIFTH ADDITION" FINAL PLAT AND THE DEVELOPMENT CONTRACT Motion By: Second By: WHEREAS, On May 15, 2006, the City Council approved the preliminary plat for"Hickory Shores", subject to conditions identified by Resolution 06-074; and WHEREAS, D.R. Horton, Inc. - Minnesota (the "Developer") has submitted an application to the City of Prior Lake for approval of a Final Plat for the"Hickory Shores Fifth Addition" to include four single family residential lots located within Outlot A of Hickory Shores Fourth Addition; and WHEREAS, The City Council has found that the final plat of Hickory Shores Fifth Addition" is in substantial compliance with the approved preliminary plat for Hickory Shores. NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA as follows: 1. The recitals set forth above are incorporated herein as if fully set forth. 2. The final plat of "Hickory Shores Fifth Addition" is approved subject to the following conditions, which shall be met prior to release of and recording of the final plat: a. The Developer shall submit a current title opinion or commitment of title insurance acceptable to the City Attorney. b. The Developer shall pay all fees identified in the Development Contract. c. The Developer shall provide reductions of the entire final plat be submitted, to the following scales: V = 200'; and one reduction at no scale which fits onto an 81/2"x 11"sheet of paper. d. The Developer shall submit three mylar sets of the final plat with all required signatures. e. The Developer shall provide financial security, acceptable to the City Engineer. 3. The Developer shall file the final plat and all pertinent documents with Scott County within 60 days from the date of final plat approval. Failure to record the documents by November 21, 2014, will render the final plat null and void. 4. The Mayor and City Manager are hereby authorized to execute the Development Contract on behalf of the City. PASSED AND ADOPTED THIS 22nd DAY OF SEPTEMBER, 2014. VOTE Hedberg Keeney McGuire Morton Soukup Aye ❑ ❑ ❑ ❑ ❑ Nay ❑ ❑ ❑ ❑ ❑ Absent ❑ ❑ ❑ ❑ ❑ Abstain ❑ ❑ ❑ ❑ ❑ Frank Boyles, City Manager oII 00 o HI El s JI HIP + � y I VJ z.•l WOS YI i HP s.V 8 ry 5$ E x 73 E — _ 2 3 L 79— Uq SHORT FORM DEVELOPMENT CONTRACT HICKORY SHORES 5TH ADDITION PROJECT#DEV2014-0017 This SHORT FORM DEVELOPMENT CONTRACT is entered into this 22nd day of September, 2014, by and between the CITY OF PRIOR LAKE, a Minnesota municipal corporation ("City"), and D.R. Horton, Inc. - Minnesota, a Delaware Corporation(the "Developer"). (1) WHEREAS, the City Council has adopted a Standard Development Contract which is required to be exceeded as a condition of Final Plat approval; and (2) WHEREAS,the Standardized Development Contract pertains to all land within the Final Plat; and (3) WHEREAS, as part of a Final Plat approval, a developer may plat certain land as an Outlot; and (4) WHEREAS, development fees are not collected on Outlots until such time as a Final Plat is approved for the Outlots; and (5) WHEREAS,the City desires to provide for an abbreviated form of its Standard Development Contract, heretofore referred to as"Short Form Development Contract", which will be used in three limited Page 1 9/22/14 situations,to wit: (1)any Outlots are the subject of a Final Plat, (2)no new public improvements are part of the platting of Outlots; and (3) development fees and other special provisions apply to the Final Plat of the any Outlot. Based on the mutual promises and covenants set forth herein,the sufficiency of which is not disputed, the City and the Developer(collectively"Parties") agree as follows: 1. REQUEST FOR PLAT APPROVAL. The Developer has asked the City to approve a Plat for HICKORY SHORES 5TH ADDITION(referred to in this Development Contract as the "Plat"). The land is legally described as: Outlot A, Hickory Shores 4th Addition, Scott County, Minnesota. 2. CONDITIONS OFPL,4TAPPROVAL. The City hereby approves the Plat on condition that the Developer enter into this Development Contract, and record the Plat and Development Contract with the County Recorder or Registrar of Titles within 60 days after the City Council approves the final Plat. 3. RIGHT TO 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. 4. DE OPM .NTP .AN . 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 plan varies from the written terms of this Development Contract,the more specific or stringent controls shall apply. The Plan includes: Page 2 9/22/14 Plan A-- Final Plat stamp dated September 22,2014(Prepared by Bohlen Surveying& Associates) Plan B -- Final Grading,Drainage,and Erosion Control Plan(s)as stamped approved by the City Engineer(Prepared by CES Consultants,LLC) All plans set forth above is incorporated herein and made part of this Development Contract. 5. 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. (Field tie dimensions to sewer and water services shall be provided to the Developer's Engineer, by City staff or City consultants). As-built record drawings shall follow the requirements set forth in the Public Works Design Manual (PWDM). The as-built record drawings shall be submitted to the City for approval within six (6) months of substantial base pavement course placement. D. Project Testing: The Developer is responsible,at the Developer's sole cost,to provide testing to certify that Developer Installed Improvements were completed in compliance with the approved final plans and specifications. A copy of all testing documentation must be submitted to the City. The personnel performing the testing shall be certified by the Minnesota Department of Transportation. The City Engineer has the sole discretion to determine if additional testing is necessary. The cost of additional testing is to be paid by the Developer. E. Lot corners and monuments. F. Engineering/Project Management 6. BOULEVARD AND AREA RESTORATION. The Developer shall seed or lay cultured sod in all boulevards within thirty (30) days, or within a timeline established by the City Engineer, of the Page 3 9/22/14 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. 7. SUBDIVISIONMONUMENTS. 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 City Engineer written verification by a registered land surveyor that the required monuments have been installed throughout the Plat. 8. TIME OFPERFORMANCE.. The Developer shall install all required public improvements by June 30,2015. If necessary, the Developer and the City shall consult about an extension of time. If an extension is granted,it shall be in writing and conditioned upon updating the Security posted by the Developer to reflect cost increases and the extended completion date. 9. 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. 10. EROSION CONTROL. A.Prior to initiating site grading,the erosion control plan,Plan B,and Stormwater Pollution Prevention Plan(SWPPP)shall be implemented by the Developer and inspected and approved by the City. The City may require the Developer, at no cost to the City, to install additional erosion control measures if they are necessary to meet erosion control objectives. All areas disturbed by the excavation and backfilling operations shall be reseeded immediately after the completion of the work in that area. All seeded areas shall be mulched, and disc anchored as necessary for seed retention. The parties recognize that time is of the essence in controlling erosion. If the Developer does not comply with the erosion control plan and schedule or supplementary conditions imposed by the City,the City may take such action Page 4 9/22/14 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 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 26 shall not apply to notifications to the Developer under this paragraph. B. The Developer shall seed or lay cultured sod in all boulevard areas behind curb within thirty (30) days, or within a timeline established by the City Engineer, of the completion of street related improvements. C. The Developer shall restore all other areas disturbed by the development grading and construction operations within this time period. D. Boulevard and disturbed area restoration shall be in accordance with the approved Plan B and SWPPP. (No building permits will be issued until the Developer has installed silt-fence behind the sod line of all buildable lots). It is expressly understood that once silt fence has been installed it shall become the builders' responsibility to maintain the silt fence, unless the silt fence is damaged by the Developer's utility contractors. 11. 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 perform the required clean-up within 24 hours of receiving instructions and notice from the City,the City,without further Page 5 9/22/14 notice, will perform 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 incurred by the City. Due to time sensitive nature of clean up, the notice provisions set out in Paragraph 26 shall not apply to notifications to the Developer under this paragraph. 12. GRA DING PLAN. A. The Plat shall be graded in accordance with the approved grading plans. All existing and proposed contours must be shown and approved as a part of the building permit application. The graded plans, as well as the grading and erosion control work shall conform to City of Prior Lake Public Works Design Manual. B. As-builts. Before the City releases the Grading Security,the Developer shall provide the City with an as built grading plan and a certification by a registered land surveyor or engineer that all ponds, swales, and ditches have been constructed on public easements or land owned by the City. The as- built plan shall include field verified elevations of the following: a) cross sections of ponds,b)location and elevations along all swales and ditches, and c) lot corners and house pads. The City may withhold issuance of building permits until the approved certified grading plan is on file with the City and all erosion control measures are in place as determined by the City Engineer. The Developer shall also submit a land tabulation certified by a registered engineer showing that all pads have been corrected in accordance with project specifications. 13. CONSTRUCTIONACCES& Construction traffic access and egress for any grading,utility construction,and street construction is restricted to Turner Drive NE. No construction traffic is permitted on the adjacent local streets. 14. TRUNK STORM WATER ACREAGE C ARGE The Developer shall pay a storm water trunk charge of$3,315.00 prior to the City signing the final Plat. The amount was calculated as follows: Page 6 9/22/14 1.188 acres at$2,790.00 per acre. This calculation was determined by the Fee Determination Study adopted by City Council Resolution#05-18 on January 18, 2005. 15. TRUNK WATER ACREAGE C ARGE.. A trunk water acreage charge of$6,534.00 shall be paid by the Developer for watermain trunk improvements prior to the City signing the final Plat. The amount was calculated as follows: 1.188 acres at$5,500.00 per acre. This calculation was determined by the Fee Determination Study adopted by City Council Resolution#05-18 on January 18,2005. 16. TRUNKSEWER ACREAGE. CHARGE.. A trunk sewer acreage charge of$3,612.00 shall be paid by the Developer for sanitary sewer trunk improvements prior to the City signing the final Plat. The amount was calculated as follows: 1.188 acres at$3,040.00 per acre. This calculation was determined by the Fee Determination Study adopted by City Council Resolution#05-18 on January 18, 2005. 17. STREET OVERSIZE ACREAGE CHARGE. This Development Contract requires the Developer to pay a street oversize acreage charge of$5,845.00 for street improvements prior to the City signing the final Plat. The amount was calculated as follows: 1.188 acres at $4,920.00 per acre. This calculation was determined by the Fee Determination Study adopted by City Council Resolution#05-18 on January 18, 2005. 18. IITIL.ITY ONNECTION CHARGE. Utility Connection Charges were satisfied as part of the Development Contract for the original Hickory Shores plat. No additional charge is required. 19. PARKAND T ALL DEDICATION. Park and Trail Dedication requirements were satisfied as part of the Development Contract for the original Hickory Shores plat. No additional charge is required. 20. LAND C PING. In accordance with the City Subdivision Ordinance,each residential lot in the Plat must have at least two (2) front yard trees. The Developer or lot purchaser shall plant the two (2) front yard trees on every lot in the Plat that does not already meet this requirement at the time of the building permit. The Developer or lot purchaser shall sod the front yard,boulevard,and side yards to the rear of every structure on every lot prior to the issuance of the final certificate of occupancy. If this section is to be satisfied Page 7 9/22/14 by existing trees, a tree protection security ("escrowed funds") may also be required. If the required landscaping is not installed,the City is granted a license to enter upon a lot and install the landscaping using the escrowed funds deposited by the builder at the time the building permit was issued. Upon satisfactory completion of the landscaping, the escrowed funds less any draw made by the City, shall be returned to the person who deposited the funds with the City. 21. SECURITY. To guarantee compliance with the terms of this Development Contract,payment of the costs of all Developer Installed Improvements, and construction of all Developer Installed Improvements, the Developer shall furnish the City with an Irrevocable Letter of Credit or a cash deposit in an amount equal to 125% of the estimated Developer Improvement Costs. The Irrevocable Letter of Credit ("Security")shall be in the form attached hereto as Exhibit B, from a bank for$5,694.00. The amount of the Security was calculated as follows: DEVELOPER INSTALLED IMPROVEMENTS COSTS: Grading $ 1,680.00 Restoration/Landscaping $ 2,875.00 ESTIMATED DEVELOPER INSTALLED IMPROVEMENTS $ 4,555.00 X 1.25 TOTAL SECURITY AMOUNT $ 5,694.00 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. The Letter of Credit should extend through the warranty period and shall not have an expiration date earlier than December 31, 2015. 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 Page 8 9/22/14 Security, the City may draw it down. If the Security is drawn down, the proceeds shall be used to cure the default. 22. CITY DEVELOPMENT FEES. The total amount for Development Fees as set forth in Paragraph 14 through Paragraph 19 above is $19,306.00 for City Development Fees. The Developer shall pay this amount to the City prior to the City signing the Final Plat. The amount of the cash fee was calculated as follows: CITY DEVELOPMENT FEES: Trunk Storm Water Acreage Charge $ 3,315.00 Trunk Water Acreage Charge $ 6,534.00 Trunk Sewer Acreage Charge $ 3,612.00 Street Oversize Acreage Charge $ 5,845.00 Utility Connection Charge $ 0.00 Park and Trail Dedication Fee $ 0.00 TOTAL CITY DEVELOPMENT FEES $ 19,306.00 23. 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 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 any required as-built street, utility and grading plans by the City. Once the City has accepted the project, and all punch list items are completed,the Irrevocable Letter of Credit may be reduced to 5%. Upon completion of the warranty period the 5% Page 9 9/22/14 Irrevocable Letter of Credit may be released. In no event shall the five percent (5%) Security be released until the Developer provides the City Engineer with a certificate from the Developer's registered land surveyor stating that all irons have been set following site grading. 24. 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 10 and 11 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. 25. - DEVELOPER'SDEFAULT. A. Definition. In the context of this Development Contract, "Event of Default" shall include, but not be limited to, any one or more of the following events: (1) failure by the Developer to pay, in a timely manner including but not limited to all real estate property taxes,utility charges, and assessments with respect to the development property; (2) failure by the Developer to construct the Developer Installed Improvements pursuant to the terms, conditions and limitations of this Development Contract; (3) failure by the Developer to observe or perform any covenant, condition, obligation or agreement on its part to be observed or performed under this Development Contract; (4)transfer of any interest in the Plat without prior written approval by the City Council (for the purpose of this paragraph,the sale of a lot, except an outlot,to a builder is not an event of default); (5) failure to correct any warranty deficiencies; (6) failure by the Developer to reimburse the City for any costs incurred by the City in connection with this Development Contract; (7) failure by the Developer to renew the Irrevocable Letter of Credit at least forty-five (45) days prior to its expiration date ; (8) receipt by the City from the Developer's insurer of a notice of pending termination of insurance; (9) failure to maintain a current insurance certificate on file with the City meeting Page 10 9/22/14 City requirements; (10) failure to maintain an Irrevocable Letter of Credit or security in good standing; (11) a breach of any material provision of this Development Contract. With respect to this paragraph, "material provision" shall be construed broadly to offer the City the fullest protection and recourse possible. B. Event of Default-Remedies. Whenever an Event of Default occurs,the City, after providing the Developer with ten (10) days written notice in accordance with the terms of Paragraph 26 of this Development Contract,may take any one or more of the following actions: 1. The City may suspend its performance under this Development Contract. 2. The City may cancel or suspend this Development Contract. 3. The City may draw upon or bring action upon any or all of the Securities provided to the City pursuant to any of the terms of this Development Contract. 4. The City may take whatever action, including legal or administrative action, which may be necessary or desirable to the City to collect any payments due under this Development Contract or to enforce performance and/or observance of any obligation,agreement or covenant of development under this Development Contract. 5. The City may suspend issuance of building permits and/or certificates of occupancy on any of the lots, including those lots sold to third parties. 6. The City may draw upon the Irrevocable Letter of Credit if the City receives notice that the bank elects not to renew the Irrevocable Letter of Credit. 7. The City may, at its option, install or complete the Developer Installed Improvements using the Irrevocable Letter of Credit to pay for the related costs. 8. Suspend the release of any escrowed dollars. 9. Use of escrow dollars or other security to satisfy any outstanding financial obligations to the City including, but not limited to, all real estate property taxes, utility charges, and assessments with respect to the development property; Page 11 9/22/14 10. Any fees incurred by the City associated with enforcing any of the provisions set out in sections 1-9 above shall be the sole responsibility of the Developer. C. Election of Remedies. None of the actions set forth in this Section are exclusive or otherwise limit the City in any manner. 26. NOTICES. 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: James Slaiken;D.R. Horton—Minnesota;20860 Kenbridge Ct.;Lakeville,MN 55044. 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, 4646 Dakota Street SE, Prior Lake, Minnesota 55372-1714. Concurrent with providing Notice to the City, Notice(s) shall be served upon the City Attorney Richard Rosow; Gregerson, Rosow, Johnson & Nilan, LTD; 650 Third Ave. South, Suite 1600; Minneapolis, Minnesota, 55402. 27. INDEMNIFICATION. Developer shall indemnify, defend, and hold the City, its Council, agents, employees, attorneys and representatives harmless against and in respect of any and all claims, demands, actions, suits, proceedings, liens, losses, costs, expenses, obligations, liabilities, damages, recoveries, and deficiencies, including interest, penalties, and attorneys' fees,that the City incurs or suffers, which arise out of, result from or relate to this Development Contract. The responsibility to indemnify and hold the City harmless from claims arising out of or resulting from the actions or inactions of the City, its Council, agents, employees, attorneys and representatives does not extend to any willful or intentional misconduct on the part of any of these individuals. 28. 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 parry allegedly injured or aggrieved as a result of the City's approval of the Plat shall seek recourse against the Developer or Page 12 9/22/14 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 27 shall apply to said actions. 29. RECORDING DEVELOPMENT CONTRACT. This Development Contract shall run with the land. The Developer,at its sole cost and expense, shall record this Development Contract against the title to the property within sixty (60) days of the City Council's approval of the Development Contract. The Developer shall provide the City with a recorded copy of the Development Contract. The Developer covenants with the City,its successors and assigns,that the Developer is well seized in fee title of the property being final platted and/or has obtained consents to this Development Contract, in the form attached hereto, from all parties who have an interest in the property; that there are no unrecorded interests in the property being final platted; and that the Developer indemnifies and holds the City harmless for any breach of the foregoing covenants. 30. . P EC AL 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 format. The electronic format shall be compatible with the City's current software. In addition,upon completion of the project the Developer shall provide the City with as-built utility plans in electronic format compatible with the City's current software and with layers, colors, and line-types formatted in accordance with City standards. Additionally,three(3)full size(22 X 34 inch)paper copies and one(1)reduced(11 X 17 inch)copy shall be certified and submitted to the City. C. The Developer hereby waives any claim against the City for removal of signs placed in the right-of-way in violation of the City Zoning Ordinance and State Statutes. The City shall not be responsible for any damage to, or loss of, signs removed pursuant to this provision. Page 13 9/22/14 B. Severability. If any portion, section, subsection, sentence, clause, paragraph, or phrase of this Development Contract is for any reason held invalid, such decision shall not affect the validity of the remaining portion of this Development Contract. C. Amendments.There shall be no amendments to this Development Contract unless in writing, signed by the parties and approved by resolution of the City Council. The City's failure to promptly take legal action to enforce this Development Contract shall not be a waiver or release. D. Assignment. The Developer may not assign this Development Contract without the prior written approval of the City Council. The Developer's obligation hereunder shall continue in full force and effect even if the Developer sells one or more lots,the entire Plat,or any part of it. E. Interpretation. This Development Contract shall be interpreted in accordance with and governed by the laws of the State of Minnesota. The words herein and hereof and words of similar import, without reference to any particular section or subdivision, refer to this Development Contract as a whole rather than to any particular section or subdivision hereof. Titles in this Development Contract are inserted for convenience of reference only and shall be disregarded in constructing or interpreting any of its provisions. F. Jurisdiction. This Development Contract shall be governed by the laws of the State of Minnesota. Page 14 9/22/14 CITY OF PRIOR LAKE By: (SEAL) Kenneth G. Hedberg,Mayor By: Frank Boyles, City Manager DEVELOPER: By: Its: By: Its: STATE OF MINNESOTA ) (ss. COUNTY OF SCOTT) The foregoing instrument was acknowledged before me this day of , 2014, by Kenneth G. Hedberg, 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 ,2014,by NOTARY PUBLIC DRAFTED BY: City of Prior Lake 4646 Dakota Street SE Prior Lake,Minnesota 55372 Page 15 9/22/14 FEE OWNER CONSENT TO DEVELOPMENT CONTRACT , fee owners of all or part of the subject property,the development of which is governed by the foregoing Development Contract, affirm and consent to the provisions thereof and agree to be bound by the provisions as the same may apply to that portion of the subject property owned by them. Dated this day of , 20 STATE OF MINNESOTA ) (ss. COUNTY OF ) The foregoing instrument was acknowledged before me this day of , 20 , by NOTARY PUBLIC DRAFTED BY: City of Prior Lake 4646 Dakota Street SE Prior Lake,Minnesota 55372 Page 16 9/22/14 MORTGAGEE CONSENT TO DEVELOPMENT CONTRACT which holds ortgage on the subject property, e development of which is governed by the foregoing Development tract, agrees that the Development ntract shall remain in full force and effect even if it forecloses on' mortgage. Dated this day of ,20 STATE OF MINNESOTA ) (ss. COUNTY OF ) The foregoing instrument was acknowle efore me this day of , 20 by NOTARY PUBLIC DRAFTED BY: City of Prior Lake 4646 Dakota Street SE Prior Lake,Minnesota 5537 Page 17 9/22/14 CONTRACT PURCHASER CONSENT TO DEVELOPMENT CONTRACT w ' h/who has a contract purch er's interest in all or part of the subject property, the development of w ' is governed by the foregoing De lopment Contract,hereby affirms and consents to the provisions the of and agrees to be bound by the prove 'ons as the same may apply to that portion of the subject prop in which there is a contract purchaser's i rest. Dated this of ,20 STATE OF MINNESOTA ) ( ss. COUNTY OF ) The foregoing instrument was acknowl ged fore me this day of , 20 by NOTARY PUBLIC DRAFTED BY: City of Prior Lake 4646 Dakota Street SE Prior Lake,Minnesota 55 Page 18 9/22/14 EXHIBIT "A" TO DEVELOPMENT CONTRACT Legal Description of Property Being Final Platted and Copy of Final Plat,Including Title Sheet Page 19 9/22/14 EXHIBIT "B" SAMPLE IRREVOCABLE LETTER OF CREDIT No. Date: TO: City of Prior Lake 4646 Dakota Street SE Prior Lake,Minnesota 55372 Dear Sir or Madam: We hereby issue,for the account of (Name of Developer)- and in your favor,our Irrevocable Letter of Credit in the amount of$ ,available to you by your draft drawn on sight on the undersigned bank. The draft must: a) Bear the clause, "Drawn under Letter of Credit No. , dated , 20_, of (Name of Bank) "• b)Be signed by the Mayor or City Manager of the City of Prior Lake. c)Be presented for payment at (Address of Bank) ,on or before 4:00 p.m. on December 31,20_ This Letter of Credit shall automatically renew for successive one-year terms unless, at least forty-five (45) days prior to the next annual renewal date(which shall be December 31 of each year),the Bank delivers written notice to the Prior Lake City Manager that it intends to modify the terms of,or cancel,this Letter of Credit.Written notice is effective if sent by certified mail,postage prepaid,and deposited in the U.S.Mail,at least forty-five(45)days prior to the next annual renewal date addressed as follows: Prior Lake City Manager, Prior Lake City Hall, 4646 Dakota Street SE,Prior Lake,Minnesota 55372-1714, and is physically received by the City Manager at least forty-five(45) days prior to the renewal date. This Letter of Credit sets forth in full our understanding which shall not in any way be modified, amended, amplified,or limited by reference to any document,instrument,or agreement,whether or not referred to herein. This Letter of Credit is not assignable. This is not a Notation Letter of Credit. More than one draw may be made under this Letter of Credit. This Letter of Credit shall be governed by the most recent revision of the Uniform Customs and Practice for Documentary Credits,International Chamber of Commerce Publication No. 600. We hereby agree that a draft drawn under and in compliance with this Letter of Credit shall be duly honored upon presentation. BY: Its Page 20 9/22/14 EXHIBIT "C" 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" = 800'; 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 development fees, 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 60 days from the date of final plat approval. Failure to record the documents by November 21, 2014, will render the final plat null and void. Page 21 9/22/14