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Home My WebLink About5J - Courtwood Vill. Contract CITY COUNCIL AGENDA REPORT 16200 Eagle Creek Avenue S.E. Prior Lake, MN 55372-1714 MEETING DATE: AGENDA #: PREPARED BY: JULY 18,2005 5J JANE KANSIER, PLANNING DIRECTOR AGENDA ITEM: CONSIDER APPROVAL OF A RESOLUTION APPROVING THE FINAL PLAT AND AUTHORIZING EXECUTION OF THE CITY'S STANDARD DEVELOPMENT CONTRACT FOR COURTWOOD VILLAGE DISCUSSION: Historv: On April 19, 2004, the City Council adopted Resolution 04- 72 approving the preliminary plat for Deerfield Industrial Park. The preliminary plat consisted of 60.93 acres that were subdivided into 6 outlots for future development. The final plat was approved on August 16,2004 with the adoption of Resolution 04-125. The final plat created 4 outlots for future development. The Courtwood Village Final Plat will provide for R-4 (High Density Residential) uses. The site is intended for future multiple family residential dwellings. A conditional use permit for two 54-unit buildings on the 4.17 acre site is scheduled for a public hearing before the Planning Commission on July 25,2005. Current Circumstances: The principal requirements for final plat approval include a signed Development Contract with surety for the installation of utilities and streets and the satisfactory completion of all preliminary plat conditions. Staff has reviewed the final plat and finds it to be in substantial compliance with the approved preliminary plat. The Issues: The Development Contract specifies the required improvements for this plat. Applicable fees are outlined in the Contract. The parkland dedication requirements for this plat will be satisfied by a cash dedication based on the number of units. This amount will be detennined and payable prior to the issuance of any building permit for the site. Pak dedication fees will be based on the City fee schedule in effect at the time. 1:\05 files\05 subdivision\05 final plat\courtwood village\cc report.doc www.cityofpriorlake.com Page 1 Phone 952.447.4230 / Fax 952.447.4245 FISCAL IMPACT: ALTERNATIVES: RECOMMENDED MOTION: REVIEWED BY: The Deerfield Industrial Park development, including a limited area within the Courtwood Village project site, received wetland mitigation approval in 2004. The mitigation plans for the wetland area within the boundary of the Courtwood Village plat are scheduled for City Council approval at this City Council meeting. Conclusion: The Development Contract is attached to this report. The Developer has reviewed this contract and will submit a signed copy prior to the City Council meeting. Staff will be available to discuss the details ofthe Development Contract with the City Council. BudJ!et Impact: Approval of this final plat will facilitate new development and contribute to the City's tax base. The City Council has three alternatives: 1. Adopt the resolution with conditions approving the final plat and Development Contract for Courtwood Village. 2. Deny the resolution approving the final plat. 3. Defer this item and provide staff with specific direction. Staff recommends Alternative #1. This requires the following motion: 1. A motion and second to adopt a resolution approving the final plat and Development ontract for Courtwood Village and authorizing Ma or an Ci Manager to sign the Development Contract. 1:\05 files\05 subdivision\05 final plat\courtwood village\cc report. doc Page 2 flfi f.' '. I> .. ~ ~ ;f ~~ ~ .;tl f!"1 f r r I J. I' ~ " ::tI CD ~ ~> CD ~ ., ~ g l. Q. ~ . ~ i en o (') o' .... CD !fl 5" P if t 1 ~ ~. 1 I - ~ I ~ ~ ; [ ~ i' ~ I 'il ! ~ f i . ~ " .. I ~ . I ~ !l. I i I " e ~ I ~ if r ~ ~~ ~; If F Kia i: I r I ~@ ~ u~ f f f ~ ~l ~ ~h f l l l ~i 1 :0; t i ~ ~ ~i ,. ~h I' (; 1- ~ !l.' 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II ~ n ~~ :~ ,. ~ ~ ~ I: ~ i ~ I> ~ ~ ~ " '" f ~ ~ i t I . i g .. . ~ it I f -._.~T DEVELOPMENT CONTRACT COURTWOOD VILLAGE PROJECT #05-109 This DEVELOPMENT CONTRACT is entered into this 18th day of July, 2005, by and between the CITY OF PRIOR LAKE, a Minnesota municipal corporation ("City"), and Eagle Creek Development, a Minnesota Limited Liability 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 Courtwood Village (referred to in this Development Contract as the "Plat"). The land is legally described as: Outlots A and B, DEERFIELD INDUSTRIAL PARK, according to the recorded plat thereof, Scott County, Minnesota 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 L:\05 FILES\05 SUBDIVISION\05 FINAL PLATiCourtwood VilIage\dev contract 7-12.DOC Page 1 Plat and Development Contract with the County Recorder or Registrar of Titles within 90 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. The foregoing restriction on the Developer's "Right To Proceed" does not apply to grading or other approvals set forth in Resolution No. 04-72, dated April 19, 2004, approving the Preliminary Plat for Deerfield Industrial Park. 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. PRELIMINARY PLAT 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. 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 2 .__~..""~___,.~_~_"C~~~'~""~'_~_,.,.,.~_...,..__.~_."'.___.__.'_.....,"....,_~ <......._..__.."....__~~.___...._.___"_.._._.__~'"_____.~ 6. DEVELOPMENT PLANS. The Plat shall be developed in accordance with the Plans identified below. The Plans shall be approved by the City Engineer prior to consideration of the Final Plat and Developer's Contract by the City Council. The plans shall not be attached to this Development Contract, but are incorporated by reference and made a part of this Development Contract as if fully set forth herein. If the plans vary from the written terms of this Development Contract, the more specific or stringent controls shall apply. The Plans are: Plan A -- Final Plat Dated January 19, 2005 (prepared by Rehder and Associates, Inc.) 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. Setting ofIron Monuments B. Wetland Buffer Signage The Developer Installed Improvements shall be installed in accordance with the City's Subdivision Ordinance, City standard specifications for utilities and street construction, the City's Public Works Design Manual, and any other applicable City ordinances, all of which are incorporated herein by reference. The Developer shall submit plans and specifications, which have been prepared by a Minnesota registered professional civil engineer to the City for approval by the City Engineer. The Developer shall obtain all necessary permits and approvals from any other agencies having jurisdiction before proceeding with that aspect of the construction as it relates to that permit. The Developer, its contractors and subcontractors, shall follow all instructions received from the City's authorized personnel. The Developer or the Developer's engineer shall schedule a preconstruction meeting with all parties concerned, including the City staff, to review the program for the construction work. Before the Security for the completion of utilities is released, iron monuments must be installed in accordance with Minn. Stat. 9505.02. The 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 3 ....". "'.'--~.~'"~"-~:'~'~'"" l -------,.,-"-~..- Developer's surveyor shall submit a written notice to the City certifying that the monuments have been installed. 8. CONSTRUCTION OBSERVATION No construction observation is required. 9. DEVELOPER PROVIDED CONSTRUCTION SERVICES. The Developer shall be responsible for providing all other construction services including, but not limited to: A. As-built drawings of grading plans. B. Lot comers and monuments. 10. 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 City Engineer written verifIcation by a registered land surveyor that the required monuments have been installed throughout the plat. H. TIME OF PERFORMANCE. No improvements required. 12. 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 ofthe Plat. 13. 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 1:\05 files\05 subdivision\05 final plat\courtwood viIlage\dev contract 7-12.doc Page 4 -------"--"_.,'-'-,-,.,""'-" '"' 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 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. Due to the time sensitive nature of providing for erosion control, the notice provisions set out in Paragraph 39 shall not apply to notifications to the Developer under this paragraph. (1) 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 (sod does not need to be installed in areas of buildable lots where silt fence is required behind curbs). (2) Restore all other areas disturbed by the development grading and construction operations within this time period. (3) 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 curb of all buildable lots). 14. 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 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 5 ,...-.-..----~..'.-.'".,.~,,---.....--,..-..--., ..,..,~.'------..-'i and schedule for erosion control, street cleaning, and street sweeping. If the Developer fails to perform the required clean up within 24 hours of receiving instructions and notice from the City, the City, without further notice, will perform the work and charge the associated cost to the Developer. If the Developer 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 the time sensitive nature of clean up, the notice provisions set out in Paragraph 39 shall not apply to notifications to the Developer under this paragraph. 15. GRADING PLAN. A. The Plat shall be graded in accordance with the approved grading, development and erosion control plans for Deerfield Industrial Park. The plans and work shall conform to the requirements set forth in the 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 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. The Developer shall also submit a lot tabulation certified by a registered engineer showing that all pads have been corrected in accordance with project specifications. 16. OWNERSHIP OF DEVELOPER INSTALLED IMPROVEMENTS. Upon completion of the Developer Installed Improvements required by this Development Contract; (1) final written acceptance by the City Engineer and, (2) adoption of a resolution of acceptance by the City Council, the 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 6 "'"1 '^.,--"-~ .. --""~""'-""-' "'- '. -,.'", -,,, _.._....w....... -".~~"-,,." .' . . _n_'. L,_,_.."___,,,.~,,_.__+~,,_,~..,..._..,,,," _'_b_.._._...~_._._..,....._~, improvements lying within public right-of-way and easements shall become City property. The Developer shall be responsible for all pond maintenance until written acceptance by the City ofthe Developer installed improvements. (Alternative): Pond shall be maintained in perpetuity by developer or homeowner's association. 17. STREET MAINTENANCE. Developer shall be responsible for all street maintenance until final written acceptance by the City of the Developer Installed Improvements. 18. CONSTRUCTION ACCESS. Construction traffic access and egress for grading, public utility construction, and street construction is restricted to Adelmann Street and CSAH 87. No construction traffic is permitted on the adjacent local streets. 19. IMPROVEMENTS REOUIRED BEFORE ISSUANCE OF BUILDING PERMITS. A. Grading, utilities, curbing, and one lift of bituminous shall be installed on all streets providing access and adjacent to a lot prior to issuance of any building permits for that lot. Grading as- builts for the proposed building permit shall be approved prior to issuance of a building permit. Before a building permit will be issued a minimum of one (1) active fire hydrant within 300 feet of the unit must be available for fire protection. If building permits are issued prior to the acceptance of the Developer Installed Improvements, the Developer assumes all liability and costs incurred as a result of the delays in completion of the Developer Installed Improvements; including damages 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. B. A temporary or permanent Certificate of Occupancy shall not be issued for any building in the plat until water and sanitary sewer improvements have been installed and the streets have been completed and the first lift of bituminous has been placed and said improvements have been inspected and determined by the City to be available for use. 1:\05 files\05 subdivision\05 final plat\courtwood viIlage\dev contract 7-12.doc Page 7 ....-.--.---.....--..................-.-...... ._._-.......,..__.~_. ...---............. ....---......-.....-...........--.... .....----..-.-. .... -- . 20. CITY ADMINISTRATION. The Developer shall pay a fee for City administration. City administration will include all activities necessary to implement this Developer's Contract. These activities include, but are not limited to, preparation of the Development Contract, consultation with Developer and its Engineer on the status of or problems regarding the development of the Plat, project monitoring during the warranty period, processing of requests for reduction in security, and any consulting or legal fees incurred by the City. Fees for this service shall be $2,000.00. This amount includes the costs which have already been incurred by the City Engineering and Planning Departments for preparation of this Development Contract, vacation of easements, and processing of wetland mitigation plans. 21. CITY CONSTRUCTION OBSERVATION. No observation required. 22. TRUNK STORMWATER ACREAGE CHARGE. The Developer shall pay a trunk stormwater acreage charge of $16,238.00 for trunk stormwater improvements prior to the City signing the '. final Plat. The amount was calculated as follows:3.53 acres at $4,600.00 per acre. This charge was determined by the Trunk Storm Water Fee Study adopted by City Council Resolution # 05-18 on January 18,2005. 23. TRUNK WATER ACREAGE CHARGE. A trunk water acreage charge of $19,415.00 shall be paid by the Developer for trunk watermain improvements prior to the City signing the final Plat. The amount was calculated as follows:3.53 acres at $5,500.00 per acre. This charge was determined by the Trunk Water System Fee Study adopted by the City Council Resolution #05-07 on January 3,2005. 24. TRUNK SANITARY SEWER ACREAGE CHARGE. A trunk sanitary sewer trunk area charge of $10,731.00 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: 3.53 acres at $3,040.00 per acre. This charge was determined by the Trunk Sanitary Sewer Fee Study adopted by City Council Resolution on #05- 18 on January 18, 2005. 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 8 . "'''---'-... .__....-..__~...... .__.,.... u... ". 25. STREET OVERSIZE ACREAGE CHARGE. The Developer shall pay a street oversize acreage charge of $17,368.00 for street oversizing improvements prior to the City signing the final Plat. The amount was calculated as follows: 3.53 acres at $4,920.00 per acres. This charge was determined by the Transportation Plan Fee Study adopted by City Council Resolution #05-18 on January 18,2005. 26. CSAH 21 ESCROW. This Development Contract requires the Developer to pay a CSAH 21 Turn Lanes Construction Charge of $8,561.00 for future improvements to the CSAH 21/87 intersection prior to the City signing the final Plat. The Deerfield Industrial Park share was determined as a 50% share of the estimated $250,000 cost of the CSAH 21/87 turn lane improvements spread over 60.9 acres. The amount was calculated as follows 4.17 acres (gross) at $2,053.00 per acre. 27. PARK AND TRAIL DEDICATION The Parkland Dedication for Courtwood Village will be satisfied by a cash dedication based on the number of units. This amount will be determined and payable with the building permit and will be based on the City fee schedule in effect at that time. 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 Warks Design Manual. 29. LANDSCAPING. Landscaping shall be determined at the time of development of the lot. A letter of credit guaranteeing the landscaping shall be required at that time. If this section is to be satisfied by existing trees, a tree protection security may also be required. Upon satisfactory completion of the landscaping, the escrow funds, without interest, less any draw made by the City, shall be returned to the person who deposited the funds with the City. If the required landscaping is not installed the City is 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 9 ~., """'_'.~'.'_4"".-"-'____"~"'~"_~__._"-"--'~~_'.'_~~_~~~.-_~,,,_....._._. .~,~.,~,._._...._.__"__...,._.""'"-_~__..,~..".~.._._._________"_..._,___....._+__+ .... - . 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. 30. TREE }'}lESERVATION AND REPLACEMENT. None required. 31. SECURITY. No security is required, however the letter of credit for Deerfield Industrial Park (#03-40) will not be reduced below 5% until the required irons and monumentation for Courtwood Village have been placed and certification has been received by the City. 32. REDUCTION OF SECURITY. No security required. 33. CITY DEVELOPMENT FEES. The Developer shall also furnish the City with a cash fee of $74,403.00 for City Development Fees. The amount of the cash fee was calculated as follows: CITY DEVELOPMENT FEES: City Administration Trunk Stormwater Acreage Charge Trunk Water Acreage Charges Trunk Sanitary Sewer Acreage Charges Street Oversize Acreage Charge Park and Trail Dedication Fee (ifin lieu of land) CSAH 21/87 Turn Lanes Escrow TOTAL CITY DEVELOPMENT FEES $ $ $ $ $ 2,000.00 16,238.00 19,415.00 10,731.00 17,368.00 Due at time of building permit $ $ 8,561.00 74,403.00 34. WARRANTY. No warranty required. 35. OVERSIZING. No oversizing is required. 36. CLAIMS. 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 10 ~~~--------""---"""~------r----"""'----'~-""------""~-----'--'~~'-<-'""-""-~"---. A. City Authorized to Commence Interpleader Action. In the event that the City receives claims from labor, materialmen, or others that work required by this Development Contract has been performed, the sums due them have not been paid, and the laborers, materialmen, or others are seeking payment from the City, the Developer hereby authorizes the City to commence an Interpleader action pursuant to the Minnesota Rules of Civil Procedure for the District Courts, to draw upon the Irrevocable Letter of Credit Security in an amount up to one-hundred twenty-five percent (125%) of the claim(s) and deposit the funds in compliance with the Rule, and upon such deposit, the Developer shall release, discharge, and dismiss the City from any further proceedings as it pertains to the Irrevocable Letters of Credit deposited with the 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 one and one-half percent (1.5%) per month or any part of a month. The minimum monthly interest penalty payment for an unpaid balance of one- hundred dollars ($100) or more is ten dollars ($10). For an unpaid balance ofless than one-hundred dollars ($100), the Developer shall pay the actual interest penalty due to the subcontractor. A subcontractor who prevails in a civil action to collect interest penalties from the Developer shall be awarded its costs and disbursement, including attorney's fees incurred in bringing the action, from the Irrevocable Letter of Credit or other security provided by the Developer to the City. (See Minn. Stat. 9471.425, Subd. 4a.) 37. RESPONSIBILITY FOR COSTS. 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 11 ~--'~-----'--.'1'-.U------'~- <_,...__.......~~...~..__,,____.~_.'_~m._.~.._.,~.__.",._____~_._..~__.,..._.__ __.~,.,_ 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 without prior written approval by the City Council. (For the purpose of this paragraph 39) 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) 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. 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 12 0__..'-__.'__'___00"000'__0 ..__''.0________.__''._______,______.._______ 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 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 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 using the Irrevocable Letter of Credit to pay for the related costs. 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. 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 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 13 .----.-__-._,___."'._..,._......~,._.._~_.~_..._>.,,"~~_____u,.__....,... ...___"_.~_"""'........,_._ _._.....,,+... ._ ,.,,_._..._~_,..,....._..,.,~__~._.m~ . '""'O"~_'_____'_""'" ~'_"'" ..___~_ ,.. following: (1) the nature ofthe 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: Eagle Creek Development, LLC, 7765 175th Street, Prior Lake, Minnesota, 55372. 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 & Johnson, US Bank Plaza, 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 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. 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 ]:\05 fi]es\05 subdivision\05 final p]at\courtwood village\dev contract 7-12.doc Page ] 4 ..------..------,.--.-.----.....---.--- .-----.-.-.-.-...--.-.-.---.......-.--.. 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 41 shall apply to said actions. 42. INSURANCE REOUlREMENTS. 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 form attached hereto as Exhibit C. All insurance certificates shall have expiration dates falling on June 30th or December 31 st of each year. Each insurance certificate shall have the project name and City project number clearly shown. 43. 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 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 15 -,._",.~_.~~-...,,_---..._~,..."._._,,__"_,"......+~..__~ "'"''_'''''~4_'_'-''''''",''' ,__~.."'." ...,,_._...,...~_.u_ "'_ ',. .+__................,__~_. _"~_,___..,',.~__._.__~.._.~,.,"__~"__",.,.._"__,,.._,_.,._~~...___~_,_.__ 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 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 (22x34 inch) paper copies and one (1) reduced (11x17 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. 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 determines that the Plat does not comply, the City may, at its option, refuse to allow construction or development work in the Plat until the Developer does comply. Upon the City's demand, the Developer shall cease work until there is compliance. 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 16 ~------------_..._--------_._......,_...._._.-_--_._..._......----_..__._-~-_...~_._..._-_..._--_.. 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 which approval shall not unreasonably be withheld. 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. CITY OF PRIOR LAKE (SEAL) By: Jack G. Haugen, Mayor By: Frank Boyles, City Manager 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 17 "__~____"""'____~A"__~ . __ '~--"'~~.'~__"_~"'_'__.'h_'"'t-__".._ I DEVELOPER: By: Its: By: Its: 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 STATEOFMINNESOTA ) ( 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:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 18 "_._~-~~-.."'~.,._-;"."...--,._"---_..,.",.._.,.."~~--,-"_.-~'~-""'-'-""~"'--~-"'t'_.,-"_.,",","-"--~",--"",~,~,-",, -- .~". 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 16200 Eagle Creek Avenue SE Prior Lake, Minnesota 55372 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 19 "'''~.'''"''''''~''~-----'~'''~''-''~''._<'"----~",'''''--~~''-'~'-~...- "~'~i''''''''''''''-~-''-~~''.-''-'~- ",. .. ,'.-..... - .~..".._,......~~_.~-- '._.~.~.".~'". 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 Avenue SE Prior Lake, Minnesota 55372 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 20 ,~ it iii8 l.J.J ~ :s ....J S c o ~ '" ':: '-'- ~:~ ~ o l) ~ ~ ! ~ i 1; ~ ~ t 8 ), li , A'8 H 1 it ~8 ~ ~ ~ 1 1; ~ [ .~ ~ ~ ~ j' 11 ~ If ~.~ n II ~~ ~~ ~~ }8 'tI~ f;g Ij .~ ~: v ~~ ~g ~~ l~ ~f ~~ 1 I I I I L I i EXHIBIT A f 8~~ ~ c ., .!l'ii ~.~ , t'8 ~:l' ::l:~ f-- ,., c., ,-, ----- ,~ '", ~! 1 .~ 1; ~ [ t ., ~ ~ ~ ~ 11 ~ I , t m ~~ rl ~~ i1i ~~ ~. 1.~ g~ it i~ ~~ .~~ .r; ~~ ~. eo ~~ ,-. ,-, .---/ ,; ~ I. ~ {I ~, , ~8 h / / / .~.E.E. III t~~ e:t... H~ ~~~ ~~; Q,~f ~ii 2E:5 tl~~ ~~l ~~~ !i~l aii ~1~ ~t~ ~~:j ~~I: i~~: t~;~ ~~~~ ~jlt i"'.,g'tl it~.x Q,~'0i.2 ~ 3] ~ l~" ~';~r ~ ~:S~ !Ui !~~~ is&.~ ~'O:5~ ... ,"\ ::~ r------:;;-~~~!~~ ~ I C"lO'-l _ _.~."'-~-- -f.-~- ~.!!! - ,'...--. 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(ill .~ :5... ~] !~ It ~,S: ~. !: 6 i~ i" ,~ 38 . . ~ w' ~~ i ~ ~ ~ i~ 5 8 ~u::l ~ o ! 5 ~ ~'Q ~~ ~j "', 82 ~~ ~~ :~t ~~~ ~~~ ~ = ~ ~ 5 01: :01 .r : : t I I I I ~___;;J , , r----=l b I I ~ ~ I I .t~: : ~i 01: lOI Ii ,-' .-' '"\ \ \ ~ j .Ii ~ . .Ii )~ ;i~; ::!:1~,~ ~_~iE i~=l '- i, ~.s~g ilH Hh ~ c, .~ ~ ~ Eo c:':;o:i eo~ i"2i -h ~~t -M ~~: m .iJ~ri? ..c'::Sh_ """Iv ~ ~ '" ! % I ~ ~ t I .. ~ ] 1 .. ~ j t 1 i ~ ~ 'i ~ ~ l i 1 1 .~ j j I ii l r ;g j li 11 ~ , J ! l'i ~ t ti ! ~ ~ ~ ~ 1 ~ L < 08 ~ ~": ~ ~ ~ f ~ ! 1 I ~ '" ~ 1 ~ ~ 8 .s t 1 ~ Cl. , H ~~ ~~ ~~ ::fOi " ~ ~ , . t; ti 'i ~ -~ i~ !~ h f~ ub iJ ~~ ~~ '. ~. ['0 h i~ ~~ I~' i f g ;~ ~ ~ .I_~, I ~ .. i! i ,~ ~ ~ . g~ !tl ~ I! ~ i~ ~ 'f- ~ 8 ~ ~ c!:t; 8 (I ~ 31i .. J~ ~ It r oG.'i i i i ~ 1E1.2 ~ 8.. I!!~.. i l~ ~ is h q .~ 1 tl 0 c i:i:l :i ll~ i .8i w ~~'O ~ .9 0 i! 8.~ '" ~ t ~ j' s ~~. 11 :~ '2 l. ~b1i t1:S i 1 ~:a~ ~ lJ! 1 :/3, ~ ~ t i! j. ~H' ~ = l~ig ~j<3 ~a -S:(',j .s(',j 1 l! .Ii 1. . '- 0 1.'" ~,~ I:i .s 1 ~ :s 1 t ~ <3 i & ~ _6 I NVr I '" ~ .x .Ii ~ ~ t I t I ~ l l ~ I I j ~ 1 ~ ~ g I ! ~ ~ ~ i ~ ti 'Ii t .~ " f & ~ :g, ffi ~ 5 ~ ~ ~ >:- ~ 1 11 ~ ~ ~ l ~ ~ t ~ l ~ " l ~ ~ ~ t I ;s ~ :s b e ~ ~ t ~ b ~ < I j 1 ~ : ~ 1 1 t 1 ~ i t .~ ~ ~ ,ll u ~ ~ ~ ! ~ ~ i ~ I i " - :i ~ 8 1 I ~ ~ ~ ~ ~ "II n' l ~ ti of Ill" Q) .... o 'u o ,! ~ ~ < ~ '0 I 5 '" ... ~ III '0 & ~ Q.: i ~ ~. ~ t I ~ :g ~ ~ i : kt i ~ ~ ~ ~ t ! ~ ~ 1 i ~ ~ .~ .~ ~ ~ I ~ & ~ ~ ~ Ii .! ~ ! 1 ~ 1 ~ 8 1 1 ~ 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 ofDeveloDer) 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:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 23 u._ ~.., ..._......._ . ..... ___,'_' .._~..._..._... ..... __.. ._..._.____........ ..... ....._._. 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: 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 24 "._.~".".__._--_..,--,._."_.. "-_._-..,-,.'""-_."_._'~---_.__._-_._-------- .. Operations of Contractor: YES Operations of Sub-Contractor (Contingent): YES Does Personal Injury Include Claims Related to Employment? YES Completed Operations/Products: YES Contractual Liability (Broad Form): YES Governmental Immunity is Waived: YES Property Damage Liability Includes: Damage Due to Blasting YES Damage Due to Collapse YES Damage Due to Underground Facilities YES Broad Form Property Damage YES AUTOMOBILE LIABILITY: Policy No. Effective Date: 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 MAIL THIRTY (30) DAYS WRITTEN NOTICE TO THE PARTIES TO WHOM TillS CERTIFICATE IS ISSUED. Dated at On BY: Authorized Insurance Representative 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 25 ""'~-,....._-._~._---.__._._--_.*--~....,-~-.._,-......,..._.,-".~_____..._.._.__'_ 4""....,..,..~__,,"..,....._.~__.M_."._.m~.~_,_.._<_.___..~____'__'~"__"'.'_O"__''''''__ , EXHIBIT "D" TO DEVELOPMENT CONTRACT (Oversizing Calculations for Developer Installed Improvements) NO OVERSIZING REQUIRED 1:\05 fiIes\05 subdivision\05 final plat\courtwood vilIage\dev contract 7-12.doc Page 26 .~_'_'_'''-"'''~''------------,-_.~---................,.._~."...,..,--,-.-----,-.-~-,~.".'""_1+__~___.,_""'.~__._.__~.~__..._........~_'__~_.... ","~'_'_.'_" '_'~_'_'_~""~__~_~"~'_'"__ ~__~. __.,.,__~~ ..... EXHIBIT "E" TO DEVELOPMENT CONTRACT ESTIMATED CONSTRUCTION COSTS NO PUBLIC IMPROVEMENTS REQUIRED. 1:\05 files\05 subdivision\05 final plat\courtwood village\dev contract 7-12.doc Page 27 , "'~----""_'_"_~_--"'"-_"''''''---~"-_."---""--""...~._,-_.~---,.,..~--_.t''''WH'',"'~-''_'~'.'-''''''-'~- EXHIBIT "F" TO DEVELOPMENT CONTRACT CONDITIONS OF PLAT APPROVAL 1. A current title opinion or commitment oftitle 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: I" = 800'; I" = 200'; and one reduction at no scale which fits onto an 8112" 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 ofthe 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 October 18, 2005, will render the final plat null and void. 1:\05 files\05 subdivision\05 final plat\courtwood vilJage\dev contract 7-12.doc Page 28 --".-_...._.-,.--_.~--_........._........_-_._.._--_._----_...__..._.--