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Planned Unit Development Agreement Towne Lakes 7th Addn CITY OF ALBERTVILLE CONDITIONAL USE/PLANNED UNIT DEVELOPMENT AGREEMENT TOWNE LAKES 7TH ADDITION THIS AGREEMENT, entered into this 41 day of December,2017 by and between HSB Ventures, LLC., a Minnesota Limited Liability Company referred to herein as "Developer"; and the CITY OF ALBRTVILLE, County of Wright, State of Minnesota, hereinafter referred to as "City"; WITNESSETH: WHEREAS,Developer is the fee owner and developer of the real property described in Exhibit A, attached hereto and incorporated herein by reference,which real property is proposed to be subdivided and platted for development and which real property is subject to the provisions of this Agreement;and WHEREAS, Developer is proposing to subdivide a portion of Outlot C of Towne Lakes 7th Addition into 61 single-family residential lots and 3 Outlots, which are described on the attached Exhibit A. Said subdivision which is to be governed by this Agreement is intended to bear the name "Towne Lakes 7th Addition" and shall be hereinafter referred to in its entirety as "Said Plat" or "Subject Property"; and WHEREAS, the City has given final approval of Developer's plat of Towne Lakes 7th Addition (attached hereto as Exhibit B) contingent upon compliance with certain City requirements including, but not limited to,matters set forth herein; and WHEREAS,the City requires that certain public improvements including, but not limited to bituminous street, sidewalk,trail(s), curb and gutter, grading, sanitary sewer,municipal water, storm sewer and drainage ponds(hereafter "Municipal Improvements")be installed to serve the Development,to be installed and financed by Developer; and 1 WHEREAS,the City further requires that certain on- and off-site improvements be installed by the Developer within Said Plat,which improvements consist of boulevards,top soil and sod, grading control per lot,bituminous or concrete driveways, drainage swales,berming, street signs, street lights, street cleanup during project development, erosion control, landscaping,and other site- related items; and WHEREAS,this Agreement is entered into for the purpose of setting forth and memorializing for the parties and subsequent owners,the understandings and covenants of the parties concerning the development of Said Plat and the conditions imposed thereon;and WHEREAS,the City and Developer's predecessor in title have previously entered into a Developer's Agreement titled"City of Albertville Conditional Use/ Planned Unit Development Agreement Towne Lakes 7th Addition"dated August 12, 2005 and recorded as document number 984963 at the Wright County Recorder's Office("Master Agreement")under which the City granted preliminary plat approval to the plan for the area covered by said Master Agreement; and WHEREAS, Said Plat is governed by the Master Agreement, except as may be explicitly modified herein; and WHEREAS,the City and Developer desire to supplement the Master Agreement with the site specific details applicable to Towne Lakes 7th Addition, as evidenced by the execution of this Agreement; and WHEREAS,the City and Developer desire to have this Agreement and the Master Agreement read together as if the entire Master Agreement were recited herein,with any conflicts between the two documents being resolved in favor of the language set forth in this document; NOW,THEREFORE, IT IS HEREBY AND HEREIN MUTUALLY AGREED,in consideration of each party's promises and considerations herein set forth,as follows: 1. Preliminary Plat Master Agreement. A. That certain Developer's Agreement entitled "City of Albertville Planned Unit Development Agreement Towne Lakes Third Addition" ("Master Agreement") between Contractor Property Developers Company and the City of Albertville, dated October 3, 2003 and recorded in the Wright County Recorder's Office as document number 894487 along with any recorded amendments is hereby incorporated 2 herein the same as if the text of said Agreement were contained within this document. B. It is the intent of the parties that this Developer's Agreement ("Developer's Agreement") supplement the Master Agreement as to the specific development issues related to Towne Lakes Seventh Addition, and that these two documents be read together to determine the rights and obligations of the parties with respect to the property contained within the Towne Lakes Seventh Addition. In the event of a conflict between the terms of the Master Agreement and this Developer's Agreement, the terms of this Developer's Agreement shall control with respect to any conflicting issues within Towne Lakes Seventh.Addition, but any such conflicts shall not alter the terms of the Master Agreement as they apply to other plats, now existing or to be platted in the future, within the remaining land area subject to the Master Agreement. 2. Planned Unit Development. The Development is hereby allowed to be developed as a Planned Unit Development with flexibility from the strict requirements of the City's Shoreline Regulations and Zoning Ordinance in relation to selected items detailed in this paragraph. A. All lots within the plat shall be subject to the Towne Lakes Community Association, which is a master association, as currently established for Towne Lakes First and Second Additions. The Developer shall apply to the existing Towne Lakes Community Association to have all numbered lots within Said Plat added to the existing Towne Lakes Community Association and shall take whatever action is reasonably necessary to have such lots accepted into and governed by the Towne Lakes Community Association. All new homes shall adhere to the Towne Lakes architectural standards, except as may be amended and approved in writing by the Towne Lakes Community Association, a copy of which shall be filed with the City. The Developer shall file covenant documents subjecting all lots within Said Plat to the terms and conditions of the Towne Lakes Community Association subject to review and approval by the City Attorney, which shall be recorded on the property records of the lots. B. Trees, shrubs, berms and screening are to be planted and installed as shown on the landscape plan attached as Exhibit C, at such times set forth below: 3 i. Boulevard Trees: Within 60 days of substantial completion of first lift of asphalt,weather permitting; ii. The rear-yard landscaping required of all yards abutting 70th Street shall be installed within 30 days of completion of final mass subdivision grading,weather permitting; iii. Any other landscaping shown on Exhibit C shall be installed no later than October 31, 2019. iv. The Developer shall guarantee that all new trees shall survive for two full years from the time planting has been completed or will be replaced at the expense of the Developer, except that 70th Street rear-yard landscaping shall be replaced by the Developer if it dies prior to the issuance of an occupancy permit for said lot even if such two-year period has elapsed. C. The Developer shall file deed restrictions with the Wright County Recorder of Deeds for all lots adjacent to or containing wetlands or storm water ponds indicating that no structures can be built within 30 feet of wetlands. All such deed restrictions shall be subject to the approval of the City Attorney. D. Other Use Restrictions. On all lots within 30 feet of any wetland, the native vegetation within said 30 feet of the wetland shall not be fertilized or mowed or otherwise disturbed. On all lots within 30 feet of any wetland, no structure, including, but not limited to, outbuildings or accessory buildings, fence, planting or other material shall be placed or permitted to remain which may damage or interfere with the installation and maintenance of utilities, or which may change the direction of flow or drainage channels in the easements, or which may obstruct or retard the flow of water through drainage channels in the easements. The easement area of each Lot including all improvements in it, shall be maintained continuously by the Owner of the Lot, except for those improvements for which a public authority or utility company is responsible. No Owner or other person shall apply any phosphorus- based fertilizers or herbicides within fifty (50) feet of any wetland or lake. E. Prior to the sale of any lot(s) within the Development, Developer shall provide the City with a copy of the sales literature identifying the required thirty (30) foot wetland setback building restrictions, the location of all future parks within the Development, and the location of all present and future sidewalks and easements. Developer agrees that the aforementioned sales literature will be distributed to all potential lot 4 buyers within the Development prior to the sale of any of said lots by Developer. F. Developer acknowledges and understands that the intersection of Linwood Drive and 70th Street will be reevaluated with the construction of 70th Street as a divided urban collector street. With the improvement of 70th Street as a divided urban collector street, Linwood Drive may be restricted to a right-in/right-out intersection with 70th Street. Developer agrees to release and hold harmless the City from any claim of diminution in property value of the properties on Said Plat arising from said potential restriction of the Linwood/70th Street intersection. G. Developer shall deed Outlots A and B of Said Plat to the City of Albertville upon the recording of the final plat. H. Developer shall install and maintain wetland demarcation signage at the boundaries of the wetland buffer. The sign design and sign locations shall be approved by the City Engineer. I. Setbacks for the lots on Said Plat shall be as follows: i. Street Setbacks: House/porch 15 feet Face of garage 25 feet ii. Side Yard Setbacks: House Side 10 feet Garage Side 5 feet Min. setback between homes 15 feet iii. Rear yard 25 feet iv. Exceptions: 1. Pending written approval from the Master Homeowners' Association,the garage on any lot may align with the front of the house with a 25-foot setback for the entire structure. 2. Lot 1, Block 4 and Lot 5, Block 5 of Said Plat shall have a minimum rear yard setback of 10 feet. 3. Construction of Municipal Improvements. 5 A. The Developer shall construct those Municipal Improvements located on and off Said Plat as detailed in the Plans and Specifications for Towne Lakes 7th Addition, as prepared by Civil Engineering Site Design dated September 12, 2017 and on file with the City Clerk, said improvements to include installation of bituminous street, curb and gutter, sidewalks, water mains, sanitary and storm sewers, stoner water ponding and site grading, street signs and traffic signs. All such improvements shall be constructed according to the standards adopted by the City, along with all items required by the City Engineer. Unless the City Engineer specifies a later date, said improvements shall be installed by September 30, 2018, except that the wear course of bituminous pavement must be installed after between June 1'and July 31s` of the year following the installation of the base course of such bituminous pavement, even if this requirement causes the wear course to be installed after September 30,2018. B. The Developer shall provide the City with record drawings for all Municipal Improvements, consistent with City requirements and subject to review and approval of the City Engineer. Record drawings shall be certified by a registered land surveyor or engineer that all ponds, swales, emergency overflows, and Municipal Improvements have been constructed on public easements. The Developer shall provide such record drawings in both paper and electronic format as required by the City Engineer. C. The Developer warrants to the City for a period of two years from the date the City accepts the finished Municipal Improvements that all such improvements have been constructed to City standards and shall suffer no significant impairments,either to the structure or to the surface or other usable areas due to improper construction, said warranty to apply both to poor materials and faulty workmanship. Acceptance shall be by City Council motion or resolution. D. Developer shall provide the City with lien waivers from all contractors and subcontractors engaged to construct said improvements on Said Plat. Should Developer fail to provide the City with all applicable lien waivers, the City reserves the right to draw upon Developer's surety after providing Developer with 30 days written notice and pay any contractors who performed work on any Municipal Improvements and whom Developer has failed to fully pay for the performance of said work. 6 E. The City shall, at its option, have the City Engineer present on Said Plat for inspection purposes at all times (or such times as the City may deem necessary) during the construction and installation of said Municipal Improvements. Developer agrees to pay for all costs incurred by the City during said inspections. F. The Developer shall be responsible, at Developer's expense, for plowing snow from all streets in Said Plat that do not have wear course installed. Such plowing shall be done in a manner and on a timeline consistent with the way the City plows its other residential streets. Developer shall be responsible for repairing all damage which occurs to streets and utilities as a result of snow plowing when such streets do not have the wear course of bituminous installed. 4. Construction of On-and Off-Site Improvements. A. Developer shall construct all on- and off-site improvements including installation of yard top soil, sod and seed in all yards, landscaping, grading control per lot, bituminous or concrete driveways, drainage swales,berming,wetland demarcation signs and sign posts,and like items as necessary,street cleanup during project development, and erosion control, all as required by City ordinance,this Agreement and the Master Agreement. Front, side and portions of the back yards of residential lots shall be sodded in accordance with the Residential Development Standards as on file with the City Administrator's Office, Those portions of the yards not required to be sodded may be seeded with grass seed or sodded. In all cases permanent turf or grass must be established over all areas of the lot not covered by a hard or impervious surface. The Developer shall guarantee that all new plantings shall survive for two full years from the time the planting has been completed or will be replaced at the expense of the Developer. Said on- and off-site improvements shall be installed no later than September 30,2018,with the exception of erosion control,drainage swales and berming,which shall be installed upon initial grading of Said Plat, and except that the driveways and sod need not be installed in a lot until that lot is built upon(provided adequate ground cover has been established prior to the development of such lot). B. Developer shall, at its own expense,be responsible to ensure the following items are installed within the development, all such items to be installed under ground,within the street right of way or such other location as may be approved by the City Engineer, accessible to all lots and in compliance with all applicable state and local regulations: 7 i. Electrical power supply,to be provided by Wright-Hennepin or other such carrier; ii. Natural gas supply,to be provided by Center Point Energy or other such carrier; iii. Telephone service,to be provided by Century Link Telephone Company or other such carrier; iv. Cable TV service,to be provided by a local carrier; In addition, the Developer shall, at its own expense,cause streetlights and street signs to be of such type and to be installed at such locations as required by the City Engineer and in conformance with the Manual on Uniform Traffic Control Devices. The Developer shall be responsible for streetlight operational expense until such time as the City accepts the Municipal Improvements. C. Before any grading is started on any site, all erosion control measures as shown on the approved Grading,Drainage and Erosion Control Plan attached as Exhibit D shall be strictly complied with. Developer shall maintain erosion control measures in accordance with MPCA's Best Management Practices at all times during the development of Said Plat D. Notwithstanding the requirements of subparagraph 4A above and except as otherwise provided in this Agreement,the Developer shall be responsible to ensure that the on- and off-site improvements are installed to the City's satisfaction for each lot or parcel prior to the date that a certificate of occupancy (temporary or permanent)is issued by the City for a building located on the lot,unless the certificate of occupancy is issued after October 1st and before March 30th in any given year, in which case a certificate of occupancy shall be issued with the requirement that the Developer be required to install said on- and off-site items for such lot by the following June 30`h. E. Developer shall install storm water retention/water quality ponds and basins upon Said Plat as shown on the Grading,Drainage and Erosion Control Plan attached as Exhibit D. Said ponds and basins shall be dedicated to the City, and Developer shall provide the City with perpetual drainage easements over such ponds. Said retention ponds and basins shall be installed prior to the installation of utilities. 8 5. Intended Use of Subdivision Lots. It is the Developer's and City's intent that a total of 61 single family units be constructed on Said Plat,with one single family home on each lot as well as any accessory structures permitted under the City's zoning ordinance, this Agreement or the Master Agreement. 6. Surety Requirements. A. Developer will provide the City with an irrevocable letter of credit(or other surety as approved by the City Attorney)as security that the obligations of the Developer under this contract shall be performed. Said letter of credit or surety shall be in the amount of$1,209,750.00 representing the sum of 100%of the estimated cost of the Municipal Improvements($1,104,000.00), $1,500.00 per acre for erosion control and off-site improvements($34,500.00), and 150%of the estimated cost for landscaping/screening materials($71,250.00). Said letter of credit or surety must meet the approval of the City attorney as to form and issuing bank(the issuing bank must be an FDIC insured bank located within 100 miles of the City of Albertville),and must be available in its entirety to fulfill the obligations of the Developer under this Agreement. The letter of credit to the City shall contain language requiring its automatic renewal prior to December 31 of each calendar year, unless cancellation of the letter of credit is specifically approved in writing by the City. B. The City may draw on said letter of credit or surety after required written notice to complete work not performed by Developer (including but not limited to on-and off-site improvements, Municipal Improvements described above,erosion control, and other such measures),to pay liens on property to be dedicated to the City,to reimburse itself for costs incurred in the drafting,execution, administration or enforcement of this Agreement,to repair or correct deficiencies or other problems which occur to the Municipal Improvements during the warranty period,or to otherwise fulfill the obligations of Developer under this Agreement. Said letter of credit must be maintained by Developer at all times at the level provided in paragraph 6A above or a lesser amount authorized by the City Council pursuant to paragraph 7B below. C. In the event that any cash, irrevocable letter of credit, or other surety referred to herein is ever utilized and found to be deficient in amount to pay or reimburse the City in total as required herein,the Developer agrees that upon being billed by the City,Developer will pay within 9 thirty (30) days of the mailing of said billing,the said deficient amount. If there should be an overage in the amount of utilized security,the City will,upon making said determination,refund to the Developer any monies which the City has in its possession which are in excess of the actual costs of the project as paid by the City. D. Developer hereby agrees to allow the City to specially assess Developer's property for any and all reasonable costs incurred by the City in enforcing any of the terms of this agreement should Developer's letter of credit or surety prove insufficient or should Developer fail to maintain said letter of credit or surety in the amount required above within 30 days of mailing of written request by the City. E. That portion of said cash, irrevocable letter of credit or other surety with respect to the performance of Site Improvements shall be released upon certification of the City Engineer and approval of the City Council that all such items are satisfactorily completed pursuant to this Agreement. F. In the event a surety referred to herein is in the form of an irrevocable letter of credit,which by its terms may become null and void prior to the time at which all monetary or other obligations of the Developer are paid or satisfied, it is agreed that the Developer shall provide the City with a new letter of credit or other surety,acceptable to the City, at least forty-five(45) days prior to the expiration of the original letter of credit. If a new letter of credit is not received as required above,the City may without notice to Developer declare a default in the terms of this Agreement and thence draw in part or in total, at the City's discretion,upon the expiring letter of credit to avoid the loss of surety for the continued obligation. The form of any irrevocable letter of credit or other surety must be approved by the City Attorney prior to its issuance. G. In the event the Developer files bankruptcy or in the event a bankruptcy proceeding is filed against Developer by others and is not dismissed within 60 days, or in the event a court appoints a receiver for the Developer, the City may draw on its letter of credit or surety in its full amount to secure its surety position. The City shall then release the remainder of said letter of credit or surety to the bankruptcy court or receiver in the same manner that it would be required to release the letter of credit under this Agreement. 10 7. Surety Release. A. Periodically, as payments are made by the Developer for the completion of portions of the Municipal Improvements and/or on- and off-site Improvements, and/or landscaping improvements, and when it is reasonably prudent,the Developer may request of the City that the surety be proportionately reduced for that portion of the Municipal Improvements and on- and off-site improvements and landscaping improvements which have been fully completed and payment made therefor. All such decisions shall be at the discretion of the City Council. The City's cost for processing reduction request(s)shall be billed to the Developer. Such cost shall be paid to the City within thirty (30) days of the date of mailing of the billing. B. The Developer may request of the City a reduction or release of any surety as follows: i. When another acceptable letter of credit or surety is furnished to the City to replace a prior letter of credit or surety. ii. When all or a portion of the Municipal Improvements or the on- and off-site improvements have been installed,the letter of credit or surety may be reduced by the dollar amount attributable to that portion of improvements so installed, except that the City shall retain the letter of credit or surety in the amount of 10%of the estimated construction price of the Municipal Improvements during the first year of the warranty period and 5%of the estimated construction price of the Municipal Improvements during the second year of the warranty period. Developer may substitute a warranty bond acceptable to the City Attorney for the warranty letter of credit in the same amounts and duration as required for the warranty letter of credit. iii. When all or a portion of the landscaping improvements have been installed pursuant to the Landscaping Plan attached as Exhibit C,the letter of credit or surety may be reduced by the dollar amount attributable to that portion of such landscaping improvements installed, except the City shall retain the letter of credit or surety in the amount of 25% of the estimated Landscaping Improvement costs for two years from the time of the installation of said landscaping materials. 11 iii. As to all requests brought under this paragraph,the City Council shall have complete discretion whether to reduce or not to reduce said letter of credit or surety. C. The costs incurred by the City in processing any reduction request shall be billed to the Developer and paid to the City within thirty (30) days of billing. 8. Abandonment of Project-Costs and Expenses. In the event Developer should abandon the proposed development of Said Plat,the City's costs and expenses related to attorney's fees,professional review, drafting of this Agreement,preparation of the feasibility report,plans and specifications, and any other expenses undertaken in reliance upon Developer's various assertions shall be paid by said Developer within thirty (30)days after receipt of a bill for such costs from the City. In addition, in the event the Developer abandons the project,in whole or in part,ceases substantial field work for more than nine(9)months,fails to provide sufficient ground-cover to prevent continuing soil erosion from Said Plat, or fails to leave the abandoned property in a condition which can be mowed using conventional lawn mowing equipment,Developer agrees to pay all costs the City may incur in taking whatever action is reasonably necessary to provide ground-cover and otherwise restore Said Plat to the point where undeveloped grounds are level and covered with permanent vegetation sufficient to prevent continuing soil erosion from Said Plat and to facilitate mowing of Said Plat. In the event that said costs are not paid,the City may withdraw funds from the above-mentioned surety for the purpose of paying the costs referred to in this paragraph. 9. Developer to Pay City's Costs and Expenses. It is understood and agreed that the Developer will reimburse the City for all reasonable administrative, legal,planning,engineering and other professional costs incurred in the creation,administration, enforcement or execution of this Agreement and the approval of Said Plat, as well as all reasonable engineering expenses incurred by the City in designing,approving, installing, and inspecting said Improvements described above. Developer agrees to pay all such costs within 30 days of billing by the City. If Developer fails to pay said amounts,Developer agrees to allow the City to reimburse itself from said surety and/or assess the amount owed against any or all of Said Plat without objection. Developer has the right to request time sheets or work records to verify said billing prior to payment. 12 10. Sanitary Sewer and Water Trunk Line Fees. Developer agrees that the City's Sanitary Sewer Trunk Line Fee Ordinance and Water Trunk Line Fee Ordinance currently requires the Developer to pay $2,055.00 per acre and$1,925.00 per acre respectively,upon development of said Plat. There are 23 acres in said Plat to which the Trunk Charges apply, which received final plat approval. Therefore,the Sanitary Sewer and Water Trunk Line Fees for the numbered receiving final plat approval are$91,540 ($47,265 in sanitary sewer trunk line fees calculated as$2,055.00 x 23 acres and$44,275 in water fees calculated as $1,925.00 x 23 acres). 11. Erosion and Sediment Control. Developer shall implement all erosion control measures detailed in the Storm Water Pollution Prevention Plan ("SWPPP")and on the Grading and Drainage plan(including construction of all temporary and permanent ponds) in the order required by the City Engineer. Developer shall also implement any additional erosion control measures required by the City Engineer, and shall abide by all erosion control requirements contained in the Albertville Subdivision ordinance and as required by the NPDES Construction Stormwater Permit for the project. The parties recognize that time is of the essence in controlling erosion. If the Developer does not comply with the erosion control plan and/or the requirements of the NPDES Construction Stormwater Permit,the City may take such action as it deems appropriate to control erosion, and the landowner hereby grants the City permission to enter upon the land and take such necessary erosion control actions. 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. If the Developer does not reimburse the City for any cost the City incurred for such work within thirty (30)days,the City may draw down the letter of credit to pay any costs or may specially assess Developer's land for the costs not covered by the letter of credit. No development will be allowed and no building permits will be issued unless the development is in full compliance with the erosion control requirements. 12. Ditch Cleaning. Developer shall comply with all requirements set forth for drainage into any county ditch or other ditch through which water from Said Plat may drain, and shall make any necessary improvements or go through any necessary procedures to ensure compliance with any federal,state,county or city requirements, all at Developer's expense. 13 13. Maintain Public Property Damaged or Cluttered During Construction. Developer agrees to assume full financial responsibility for any damage or repairs which may occur to public property including but not limited to streets,street sub- base, base,bituminous surface,curb,utility system including but not limited to watermain, sanitary sewer or storm sewer when said damage occurs as a result of the construction activity which takes place during the development of Said Plat, including the initial construction of homes on the lots. The Developer further agrees to pay all costs required to repair the streets, utility systems and other public property damaged or cluttered with debris when occurring as a direct or indirect result of said construction that takes place in Said Plat. Developer agrees to clean the streets on a daily basis if required by the City. Developer further agrees that any damage to public property occurring as a result of construction activity on Said PIat will be repaired immediately if deemed to be an emergency by the City. Developer further agrees that any damage to public property as a result of construction activity on Said Plat will be repaired within 14 days if not deemed to be an emergency by the City. If Developer fails to so clean the streets or repair or maintain said public property,the City may immediately undertake making or causing it to be cleaned up,repaired or maintained. When the City undertakes such activity, the Developer shall reimburse the City for all of its expenses within thirty (30)days of its billing to the Developer. If the Developer fails to pay said bill within thirty (30)days,then the City may specially assess such costs against the lots within Said Plat and/or take necessary legal action to recover such costs and the Developer agrees that the City shall be entitled to attorney's fees incurred by the City as a result of such legal action. 14. Temporary Easement Rights. Developer shall provide access to Said Plat at all reasonable times to the City or its representatives for purposes of inspection or to accomplish any necessary work pursuant to this Agreement. 15. Miscellaneous. A. Developer agrees that all construction items required under this Agreement are items for which Developer is responsible for completing and all work shall be done at Developer's expense. 14 B. If any portion, section, subsection, sentence, clause,paragraph or phrase of this Contract is for any reason held invalid by a Court of competent jurisdiction, such decision shall not affect the validity of the remaining portion of this Contract. C. If building permits are issued prior to the completion and acceptance of public improvements,the Developer assumes all liability and the costs resulting in delays in completion of public improvements and damage to public improvements caused by the City,Developer,its contractors, subcontractors,materialmen, employees, agents,or third parties. D. The action or inaction of the City shall not constitute a waiver or amendment to the provisions of this Contract. To be binding, amendments or waivers shall be in writing,signed by the parties and approved by written resolution of the City Council. The City's failure to promptly take legal action to enforce this Contract shall not be a waiver or release. E. This Contract shall run with the land and shall be recorded against the title to the property. F. The Developer represents to the City that Said Plat complies with all City, county, state and federal laws and regulations,including but not limited to: subdivision ordinances,zoning ordinances,and environmental regulations. If the City determines that Said Plat does not comply,the City may,at its option,refuse to allow construction or development work in the plat until the Developer so complies. Upon the City's demand,the Developer shall cease work until there is compliance. G. Prior to the execution of this Agreement and prior to the start of any construction on Said Plat,Developer shall provide the City with evidence of good and marketable title to all of Said Plat. Evidence of good and marketable title shall consist of a Title Insurance Policy or Commitment from a national title insurance company, or an abstract of title updated by an abstract company registered under the laws of the State of Minnesota. H. Developer shall comply with all water,ponding and wetland related restrictions, if any,required by the Wright County Soil and Water Conservation District and/or the City and any applicable provisions of State or Federal law or regulations. 15 The Albertville City Council reserves the right to allocate wastewater treatment capacity in a manner it finds to be in the best interests of the public health, safety and welfare. J. Developer shall obtain all required driveway, utility and other permits as required by the City Engineer, Wright County and/or the State of Minnesota for the construction of the Municipal Improvements and the On- and Off-Site Improvements. 16. Violation of Agreement. A. In the case of default by the Developer, its successors or assigns, of any of the covenants and agreements herein contained,the City shall give Developer thirty (30)days mailed notice thereof(via certified mail),and if such default is not cured within said thirty(30)day period,the City is hereby granted the right and the privilege to declare any deficiencies governed by this Agreement due and payable to the City in full. The thirty (30) day notice period shall be deemed to run from the date of deposit in the United States Mail. Upon failure to cure by Developer,the City may thence immediately and without notice or consent complete some or all of the Developer's obligations under this Agreement,and bring legal action against the Developer to collect any sums due to the City pursuant to this Agreement,plus all costs and attorney's fees incurred in enforcing this agreement. The City may also specially assess all said costs incurred upon default against the properties in Said Plat pursuant to the terms of this agreement. B. Notwithstanding the 30-day notice period provided for in paragraph 16(A)above, in the event that a default by Developer will reasonably result in irreparable harm to the environment or to public property, or result in an imminent and serious public safety hazard,the City may immediately exercise all remedies available to it under this agreement in an effort to prevent,reduce or otherwise mitigate such irreparable harm or safety hazard,provided that the City makes good-faith, reasonable efforts to notify the Developer as soon as is practicable of the default,the projected irreparable harm or safety hazard, and the intended actions of the City to remedy said harm. C. Paragraph 16A of this section shall not apply to any acts or rights of the City under the preceding paragraph 6F,and no notice need be given to the Developer as a condition precedent to the City declaring a 16 default or drawing upon the expiring irrevocable letter of credit as therein authorized. The City may elect to give notice to Developer of the City's intent to draw upon the surety without waiving the City's right to draw upon the surety at a future time without notice to the Developer. D. Breach of any of the terms of this Contract by the Developer shall be grounds for denial of building permits. 17. Dedications to the City. A. Municipal Improvement Dedications. The Developer, upon presentation to the City of evidence of good and marketable title to Said Plat, and upon completion of all construction work and certification of completion by the City Engineer, shall dedicate all roads, road and trail right-of-ways, sidewalks, curbs, drainage and utility easements, gutters, ponds, sewers and water mains to the City. Upon acceptance of dedication,Developer shall provide to the City "As-Builts" of all sewers, water mains. Acceptance by City of any dedication shall occur upon passage of a resolution to such effect by the City Council. B. Park Dedication. The City acknowledges that the Developer has fully satisfied its park dedication requirement for Said Plat via park dedications with previous Towne Lakes plats. C. Oudot Dedications. The Developer shall deed Outlots A and B to the City. 18. Administrative Fee. A fee for City administration of this project shall be paid prior to the City executing the Plat and this Agreement. Said fee shall be 3.5% of the estimated construction costs of the Municipal Improvements within the Plat. The administrative fee for this Plat is $38,640.00. 19. Phased Development. As said Plat is a phase of a multi-phased preliminary plat,Developer agrees that the City may refuse to approve final plats of subsequent phases until public improvements for all prior phases have been satisfactorily completed. Development of subsequent phases may not proceed until the City approves Development Contracts for such phases. Approval of this phase of the Development shall not be construed as approval of future phases nor shall approval of this phase bind the City to approve future Development phases. The Master Agreement,the City's Comprehensive Plan, Zoning ordinance, Subdivision ordinance, and other ordinances shall 17 govern all future Development phases in effect at the time such future Development phases are approved by the City. 20 Indemnity. Developer shall hold the City and its officers and employees harmless from claims made by Developer and third parties for damages sustained or costs incurred resulting from Said Plat approval and development. The Developer shall indemnify the City and its officers and employees for all costs, damages or expenses that the City may pay or incur in consequence of such claims, including attorney's fees. Third parties shall have no recourse against the City under this contract. 21. Assignment of Contract. The Developer can assign the obligations of the Developer under this Contract. However,the Developer shall not be released from its obligations under this contract without the express written consent of the City Council through Council resolution. 22. Limited Approval. Approval of this Agreement by the City Council in no way constitutes approval of anything other than that which is explicitly specified in this Agreement. 23. Professional Fees. The Developer will pay all reasonable professional fees incurred by the City as a result of City efforts to enforce the terms of this Agreement. Said fees include attorney's fees, engineer's fees,planner's fees, and any other professional fees incurred by the City in attempting to enforce the terms of this Agreement. The Developer will also pay all reasonable attorneys and professional fees incurred by the City in the event an action is brought upon a letter of credit or other surety furnished by the Developer as provided herein. 24. Plans Attached as Exhibits. All plans attached to this Agreement as Exhibits are incorporated into this Agreement by reference as they appear. Unless otherwise specified in this agreement,Developer is bound by said plans and responsible for implementation of said plans as herein incorporated. 25. Integration Clause,Modification by Written Agreement Only.This Agreement represents the full and complete understanding of the parties and neither party is relying on any prior agreement or statement(s),whether oral or written,except as specified herein. Modification of this Agreement may occur only if in writing and signed by a duly authorized agent of both parties. 26. Notification Information. Any notices to the parties herein shall be in writing, delivered by hand(to the City Clerk for the City) or registered mail addressed as follows to the following parties: 18 City of Albertville do City Clerk B.O. Box 9 Albertville, MN 55301 Telephone: (763) 497-3384 HSB Ventures, LLC., Attn: Henry Hanson 14505 43rd Avenue North Minneapolis, MN 55446 Telephone: -7 Le 3 -2 3 _I LQ(Q 27. Agreement Effect. This Agreement shall be binding upon and extend to the representatives, heirs, successors and assigns of the parties hereto. CITY OF AL=:>ERTVILLE, By A 'llian Hendrickson Its Mayor By Kim.•rly A. Olson Its lerk HSB VENTURES, LLC. By W. He, Hansen Its esident 19 STATE OF MINNESOTA ) ) ss. COUNTY OF WRIGHT ) The foregoing instrument was acknowledged before me this o� day of , 2017, by Jillian Hendrickson as Mayor of the City of Albertville, a Minnesota municipal corporation, on behalf of the city and pursuant to the authority of the City Council. S'"':!"',„ Tina Louise Lannes • 4 ' y vs Notary Public VILYNA (jet-1A- it.€74--- • Minnesota ► N My Commission Expiry January31,2019 ► Notary Public STATE OF MINNESOTA ) ) ss. COUNTY OF WRIGHT ) The foregoing instrument was acknowledged before me this )�` day of 0 vt0--6-(A., , 2017, by Kimberly Olson, as Clerk of the City of Albertville, a Minnesota municipal corporation, on behalf of the city and pursuant to the authority of the City Council. e "; Tina Louise Lannes • 4 I'' ,'°: Notary Public Minnesota .,,,; i+•,, 'My Commission Expires January 31,2019 ► Notary Public STATE OF MINNESOTA ) ) ss. COUNTY OF WRIGHT ) Henry Hansen, as President of HSB Ventures, LLC., acknowledged the foregoing instrument before me this / day of D c: v 6.lA-- , 2017. Tina Louise Lannes O r� A Notary Public ► cjL/y:,,t s Aiirq? Minnesota ► Notary Public e '' •; My Commission Expires January 31,2019 DRAFTED BY: Couri &Ruppe P.L.L.P. P.O. Box 369 705 Central Avenue East St. Michael, MN 55376 (763) 497-1930 20 EXHIBIT A TO DEVELOPER'S AGREEMENT The legal description of the Plat to which this Developer's Agreement applies is as follows: Lots 1-14, Block 1 Lots 1-20,Block 2 Lots 1-2,Block 3 Lots 1-3,Block 4 Lots 1-8,Block 5 Lots 1-8,Block 6 Lots 1-6,Block 7 Outlot A Outlot B Outlot C All said property is located in Towne Lakes 7th Addition,City of Albertville, County of Wright, State of Minnesota. 21 iwwwN Nvon i I%$8§` l t :v.i.,nn: nC).,,-; 3iv-., y;'yt«i;: , . � r, tea R I rsvvo"wAn'v"e 'i. ..-,.9t2,..}. � ua? . CIC DJT ` ` AEH.G swE!� M�d ...`,1 Rwa ,faf r W ` i -.v.- �� ! -,,, , r 2 1 n o . E ` _ tylia .1\1 ly—,. .s L.. p�--� L o L_.._ --iel<>> i; � 9b 0 i2k f V.4. t__`Y}_icy'.—.---� z�xf.--^` a�'z (--'s,w.•+f, t At 9i }N. I d "'L.._...-- _ e T..a'i'rs n 4. 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