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85-029 . RESOLUTION NO. 29-85 WHEREAS, the final plat of Waterford has been submitted in the manner required for platting of the land under Shorewood City Ordinances and under Chapter 462 of Minnesota Statutes and all proceedings have been duly had thereunder; and WHEREAS, said plat is consistent with the Shorewood Comprehensive Plan and the regulations and requirements of the laws of the State of Hinnesota and Ordinances of the City of Shorewood. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Shorewood: 1. That the plat of Waterford is hereby approved. 2. That the approval is specifically conditioned upon the terms and conditions as contained in a Development Agreement between the Developer and the City. A memorandum of Development Agreement is attached hereto as Exhibit "A". 3. That the Mayor and City alerk are hereby authorized to execute Certificate of Approval on behalf of the City Council. . 4. That this final plat shall be filed and recorded within 30 days of the Developer's receipt of this resolution. BE IT FURTHER RESOLVED, that such execution of the Certifi- cate upon said plat by the Mayor and City Clerk shall be conclusive showing a proper compliance therewith by the subdivider, City officials and shall entitle such plat to be placed of record forthwith without further formality all in compliance with Minnesota Statutes and Ordinances of the city. Dated this 13th day of May, 1985 . . . . RESOLUTION NO. 29-85 WHEREAS, the final plat of Waterford has been submitted in the manner required for platting of the land under Shorewood City Ordinances and under Chapter 462 of Minnesota Statutes and all proceedings have been duly had thereunder; and WHEREAS, said plat is consistent with the Shorewood Comprehensive Plan and the regulations and requirements of the laws of the State of t1innesota and Ordinances of the City of Shorewood. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Shorewood: j 1. That the plat of Waterford is hereby approved. 2. That the approval is specifically conditioned upon the terms and conditions as contained in a Development Agreement between the Developer and the City. A memorandum of Development Agreement is attached hereto as Exhibit "A". 3. That the Mayor and City Clerk are hereby authorized to execute Certificate of Approval on behalf of the City Council. . 4. That this final plat shall be filed and recorded within 30 days of the Developer's receipt of this resolution. BE IT FURTHER RESOLVED, that such execution of the Certifi- cate upon said plat by the Mayor and City Clerk shall be conclusive showing a proper compliance therewith by the subdivider, City officials and shall entitle such plat to be placed of record forthwith without further formality all in compliance with Minnesota Statutes and Ordinances of the city. Dated this 13th day of May, 1985 . . . . MEMORANDUM OF AMENDED DEVELOPMENT AGREEMENT TRIVESCO This Memorandum of Amended Development Agreement is executed by the CITY OF SHOREWOOD, a Minnesota municipal corporation, hereinafter called "City," and TRIVESCO, a partnership consisting of Steiner and Koppelman, Inc., Robert H. Mason Homes, Inc., and Highland Properties, Inc., hereinafter called "Developer," to confirm certain terms of that amended Development Agreement between City and Developer dated August ~, 1985. 1. Said Development Agreement ' concerns platting and development of certain real estate described in Exhibit A attached hereto and incorporated herein. 2. The single-family portion of the project is proposed to be developed in separate phases. Additional development plans and final plans will be provided for the multi-family and commercial portions of said project. Each phase shall be developed in accordance with the following schedule: PHASE I: Single Family Homes Commence on or before Spring, 1985 PHASE II: Single Family Homes Final plat of single family homes commence about or before Fall, 1987 PHASE III: Multi-Family Homes Commence about or before Fall, 1990 PHASE IV: Commercial Commence about or before Fall, 1991 The preliminary plat for Blocks 1 through 8 of Water ford have been approved by the City Council. The f:::al plat for Blocks 1 through 5 and Lots 1 thorugh 9, Block 6, have ~en approved by the City Council. The remainder of the prope~ty shall initially be platted as outlots. As each phase is develope('r the platting process shall be used in accordance with the procedures set out in existing City ordinances. 3. Developer shall file a grading and drainage plan for each development phase. Before commencement of construction on any stage that involves housing other than single family housing, Developer shall file a detailed site plan showing the location of the structures to be built. For all phases, Developer ~hall file plans showing the details of the construction of required storm drains, water lines, and sewer lines, including proposed location within the right of way of electric, telephone, TV cables, sewer, water, and storm drain lines. Also to be filed shall be street plans, street . . . lighting plans, and entrance construction plans, including entrance monuments, berms, and other landscaping to be provided. 4. Improvements to the property will be installed by Developer and City. Improvements to be installed at Developer's expense by Developer are called "Plan A Improvements." Improvements which Developer has petitioned City to install and finance on an assessment basis are called "Plan B Improvements." 5. PLAN A IMPROVEMENTS: Developer shall construct and install at Developer's expense the following Improvements under Plan A: A. Water Improvements as described in Contract Documents for Project 84-85, Waterford, dated 23 July 1984 B. Traffic Control Sign Improvements C. Entrance Monuments and Identity Signs All Plan A Improvements for Phase I shall be completed not later than 1 October 1985. 6. Performance Bond: To ensure compliance and guarantee by Developer and to secure the satisfactory completion of the Water Improvements, Developer shall provide a performance bond satisfactory to City. Such performance bond shall continue in effect during the construction period of the Improvements and expire one (1) year after the City's final acceptance of the Improvements. 7. PLAN B IMPROVEMENTS: Developer has petitioned City for the installation of the following Plan B Improvements: A. Permanent Street Sign and Street Sign Improvements B. Sanitary Sewer Improvements C. Storm Sewer Improvements 8. City agrees to make the Plan B Improvements and to assess 100 percent of the total cost of the project against the subject property. 9. All Plan A and Plan B Improvements shall be overseen and inspected by City Inspectors. 10. Developer shall pay the required park contribution as each phase of the plat is approved, the amount of the park donation as required by City ordinances as of the date said final plat is approved. 11. Sewer Assessments: The original assessmen~s against the property for sanitary sewer shall be adjusted to reflect the proportional use of the property. 12. Municipal Sewer Connection Charges: In addition to the -2- . 1 . above charges, Developer shall pay to City the equalization sewer charge for connection to the municipal sewer for each of the living units authorized to be constructed in the project over and above the original number. 13. Developer agrees to hold Outlot C for the use of the property to the north to provide access to the property to the north and agrees to sell Outlot C to the owners of the property to the north in the amount of $60,000.00, plus accrued interest. 14. Outlot E shall be subject to maintenance by the Homeowners' Association for the project. 15. Outlot D shall be developed and integrated with the Covington Vine Ridge Development with 'access to be provided through Covington Vine Ridge. . 16. It is the intent of City to construct and install a Municipal Trunk Water Supply and Storage Facility to provide water to the southeast portion of the City of Shorewoodconsisting of an area bordered by Vine Hill Road on the east, Christmas Lake/Christmas Lake Point on the west, State Trunk Highway Number 7 on the north, and the City limits on the south. Developer agrees to connect to such municipal water facility at such time as its construction and installation is completed. Developer may interconnect with the City of Minnetonka for an interim water supply pursuant to Agreement for Water Service, dated 5 August 1985, between the City of Shorewood and the City of Minnetonka. 17. Signs for the purpose of advertising the property may be erected in accordance with sign plans to be submitted by Developer and approved by the City Council. of: CITY OF SHOREWOOD BY~~~~ Q S~~R~~'~~_M~~;;'~Y ~ HENNEPIN COUNTY My commission expires Aug. 22, 1986 By:yJ iff Its: City Adm i rator In presence of: TRIVESCO ~ ~~<e.-~ By: ~'. ~ ~1't'd'~""l Its: ~~/ . / ~~(~1-~:~/? 9':... -' ; ~;. SANDRA l. KENNELLY .,._:' NOTARY PUBLIC - MINNESOTA '"' HENNEPIN COUNTY My commission expires Aug. 22, 1986 . By: Its: -3- . . . .. DESCH 1 ~T I ()N : (REBERS PROPERTY) - The South Half of the Northeast Quarter of the Northeast Quarter of Section 36, Township 117, Range 23, except the East 300 feet of the North Half thereof. (MURFIN PROPERTY) th~t part of the Southwest Quarter of tho Sout.hcast Quarter, Section 25, Township 117, Ranqc 23, lying South of a line extending from a point on the West line of said Southwest Quarter of the Southeast Quarter distant 591.42 feet North from the Southwest corner of said Southwest Quarter of the Southeast Quarter to a point on the East line of saip Southwest Quarter uf the Southeast Quarter distant 1236.14 feet North from the Southeast corner of said Southwest Quarter of the Southeast Quarter, according to the Government survey thereof. (CLIFFORD PROPERTY) The Northwest 1/4 of the Northeast 1/4 of Section 36, Township 117, Range 23, except the South 50.0 feet of the West 100.0 feet thereof. All that part of Government Lot 4 in Section 36, Township 117, Range 23 bounded and described as follows: Commencing at a point on the East boundary line of said lot a distance of 677.4 feet from and ~irec~ly North of the Southeast corner of said lot; thence North on said East boundary llne ~u the Wortheast corner of said lot; thence West on said North boundary line of sald lot to the center line of the county road now located and in use between Solberg's Point and Chanhassen; thence in a Southeasterly direction .1~nq rhp center line of said county road to the point of intersection of said center Ilne of said county road with a line drawn parallel with and 677.4 feet North of the Southerly line of said Lot 4; thence East along said line 'parallel with and 677.4 feet North of the Southerly line of said Lot 4 to the point of beginning; except that part thereof described as follows: Beginning at the Southwest corner of the Northwest Quarter of the Northeast Quarter of ~p.ction 3~; thence East along the North line of said Government Lot 4, a distance of 308.5 feet; thence at a right angle South 259.91 feet; thence Southwesterly, deflecting to the right at an angle of 69 degrees 44 minutes, a distance of 416.81 feet to the Northeasterly line of Covington Road; thence Northwesterly along said Northeasterly line of said Covington Road a distance of 457.46 feet to the North line of said Government Lot 4; thence East along said North line of said Government Lot 4 a distance of 295.16 feet to the point of beginning. BENCH MARK: Top of hydrant at southeast corner of Vine Hill Road and Kingswood Terrace. Elevation = 957.44 (NGVD - 1929). fxhtb',t A , ' . . . . ~; ~ J AMENDED DEVELOPMENT AGREEMENT TRIVESCO THIS AGREEMENT, made this 12th day of August , 1985, by and between the CITY OF SHOREWOOD, a Minnesota municipal corporation, hereinafter called "City," and TRIVESCO, a partnership consisting of Steiner and Koppelman, Inc., Robert H. Mason Homes, Inc., and Highland Properties, Inc., hereinafter called "Developer." WHEREAS, Developer is purchasing certain property located in the City of Shorewood, County of Hennepin, State of Minnesota, described as set forth in Exhibit A, attached hereto and incorporated herein by reference and hereinafter referred to as "Property;" and . WHEREAS, Developer proposes to develop said property by means of a planned unit development, "PUD," and include within the de~elopment single family homes, multi-family homes, and commercial property as more fully described by Shorewood Resolution Number 39-84, dated the 25th day of June 1984; and WHEREAS, Developer has heretofore filed his application for a planned unit development with the City Clerk and after proper legal notices, public hearings considering the plans were held on the 4th day of May 1984, and the 11th day of June 1984. WHEREAS, the City Council has approved the PUD, Comprehensive Plan Amendment, and rezoning; and WHEREAS, the City Planning Commission made its recommendations on the preliminary plat to the City Council, which recommendations were dated the 15th day of May 1984, and which did recommend said preliminary plat. Pursuant to said recommendation the City Council did consider the preliminary plat and approved the same on the 10th day of September 1984 as set forth in Resolution Number 61-84; and WHEREAS, the City Council approved the first phase single family final plat on the 13th day of May, 1985, as set forth in Resolution Number 29-85; and WHEREAS, the Development Agreement is required pursuant to Shorewood Ordinance Number 168. NOW, THEREFORE, in consideration of the mutual covenants and guarantees contained herein, the parties hereby agree as follows: 1. All improvements and structures to be constructed on subject property shall be done in compliance with all laws, ordinances, regulations, -and standards of the State of Minnesota, City of Shorewood, appropriate watershed district and federal laws as may be applicable, except as hereinafter specifically modified, which compliance shall be reviewed by the City Administrator or his agents so as to determine that they are, in fact, in accordance with said regulations referred to herein. ~ . . . ..' , 2. The legal description of the property is shown in Exhibit A attached hereto. Developer's attorney, Jeremy S. Steiner, has rendered a title opinion dated 31 October 1984, which opinion guarantees that Developer in fact has a legal right to become fee owner of the property upon exercise of a certain contract for deed and to enter upon the same for the purpose of developing the property. Developer agrees that in the event Developer's ownership in the property should change in any fashion, except for the normal process of marketing lots, prior to the completion of the project and the requirements of this contract that he shall forthwith notify the City of such change in ownership. 3. Developer has filed with the City Clerk the final plat for the development of the single-family portion of the project and said plat is hereby attached as Exhibit B and incorporated herein. Said final plat, together with this Development Agreement, is herewith adopted and approved by the City as Developer's final plan except as hereinafter expressly altered or amended. The single-family portion of the project is proposed to be developed in separate phases. Additional development plans and final plans will be provided for the multi-family and commercial portions of said project. Each phase shall be developed in accordance with the following schedule: PHASE I: Single Family Homes Commence on or before Spring, 1985 PHASE II: Single Family Homes Final plat of single family homes commence about or before Fall, 1987 PHASE III: Multi-Family Homes Commence about or before Fall, 1990 PHASE IV: Commercial Commence about or before Fall, 1991 The preliminary plat for Blocks 1 through 8 of Water ford have been approved by the City Council. The final plat for Blocks 1 through 5 and Lots 1 through 9, Block 6, have been approved by the City Council. The remainder of the property shall initially be platted as outlots. As each phase is developed, the platting process shall be used in accordance with the procedures set out in existing City ordinances. No work on any phase shall be commenced until the requirements as to each phase as set out herein have been met and formal approval to proceed is given by the City. Should Developer violate the conditions of this Agreement, the City Council may renegotiate the terms of this Agreement pursuant to Section 200.25, Subdivision 6d(5) of Shorewood Ordinance Number 168. Developer may make changes for the purpose of meeting a future and changing market by making adjustments to future phases with the approval of the City Council. It-is agreed that upon receipt of written notice from Developer of the existence of causes over which Developer has no control, which could delay the start or completion of work on any phase, the City Council will, at its discretion, extend the date -2- -.' . . . specified herein. 4. Developer shall file a grading and drainage plan for each development stage, as defined by Ordinance Number 168, which plan shall be subject to review and approval of the City Engineer. Initial grading plans shall be filed forthwith and shall be in accordance with the documents which have heretofore been presented as part of the final plan. Developer shall be limited to the construction of those units shown on the final plan as approved. Developer shall not increase the number of units as approved in said plan without the prior approval of the City. Before commencement of construction on any stage that involves housing other than single family housing, Developer shall file a detailed site plan showing the location of the structures to be built. Prior to construction on any phase, including single family housing, Developer shall file plans showing the details of the construction of required storm drains, water lines, and sewer lines, together with all required approvals from regulatory bodies not previously obtained. Cross-sections shall be used to show construction details of driveways and streets which shall be in conformance with specifications set out in City ordinances and the requirements of the City Engineer. Cross-sections shall show the layout and proposed location within the right-of-way of electric, telephone, TV cables, sewer, water, and storm drain lines. Also to be filed shall be street plans, street lighting plans, and entrance construction plans, including entrance monuments, berms, and other landscaping to be provided. All of the materials to be employed in the construction of all of the improvements shall be of uniformly good and workmanlike quality, and shall equal or exceed City standards and specifications. If any labor and material supplied shall be rejected by City as defective or unsuitable, such rejected material shll be removed and replaced with approved material. Rejected labor shall be done anew to the satisfaction of City at the cost and expense of Developer. 5. The following described improvements, hereinafter collectively called "Improvemen,ts," shall be constructed and installed in accordance with the policies and ordinances of City, and on the terms and conditions set forth: A. Street grading, gravelling, and stabilization, including construction of berms, boulevards, surmountable curbs, and concrete gutters, hereinafter called "Street Improvements." B. Storm sewers, including all necessary catch basins, inlets, and other appurtenances, hereinafter called "Storm Sewer Improvements. '~ C. Sanitary sewer laterals and extensions for supplying all necessary building services and other apurtenances, hereinafter -3- . . . called "Sanitary Sewer Improvements." D. Water mains, laterals, or extensions for supplying all necessary building services, hydrants, valves, and other appurtenances, hereinafter called "Water Improvements." E. Permanent street surfacing including concrete curb and gutter, hereinafter called "Permanent Street Improvements." F. Standard street name signs at all newly opened intersections, hereinafter called "Street Sign Improvements." G. Traffic control sign improvements for controlling traffic on the newly opened streets and intersections, hereinafter called "Traffic Control Sign Improvements." H. Street lighting, including poles, crossarms, wire, and transformer pedestals, and other appurtenances, hereinafter called "Street Lighting Improvements," as provided by City agreement with Northern States Power. I. Improvements to be installed at Developer's expense by Developer as provided herein, are hereinafter called "Plan A Improvements." Improvements which Developer has petitioned City to install and finance on an assessment basis are hereinafter referred to as "Plan B Improvements." 6. PLAN A IMPROVEMENTS: Developer shall construct and install at Developer's expense the following improvements under Plan A, according to the following terms and and conditions and the general and special conditions attached hereto and made a part of this agreement. After completion and acceptance by City, Developer agrees to furnish City with a Bill of Sale for all Improvements located within City right-of-way and within easements running in favor of City. PLAN A IMPROVEMENTS - PHASE I SINGLE FAMILY BRIEF DESCRIPTION OF IMPROVEMENTS *ESTIMATED COST Water Improvements as described in Contract Documents for Project 84-5, Waterford, dated 23 July 1984 . $123,235.00 Traffic Control Sign Improvements as described in Exhibit C. $ 450.00 Entrance Monuments and Identity Signs, more fully described in the plans and specifications attached hereto as Exhibit D. $ 8,000.00 $131,685.00 TOTAL ESTIMATED COST -4- . A. Construction Plan and Approval Thereof: Developer will engage, at Developer's expense, a duly registered professional civil engineer authorized to practice within the State of Minnesota to prepare detailed plans and specifications for the complete installation of the water improvements portion of Plan A Improvements in accordance with City.standards, and submit same to the City Engineer for written approval prior to commencement of construction. In the case where the City Engineer prepares feasibility plans for a portion of the Plan A Improvements, that cost will be assessed against the property. The Water Feasibility Report dated 13 August 1984 prepared by the City Engineer will not be assessed to the property or paid for by Developer. B. Services to be Performed by City and Payment Therefor: City will review and approve plans and specifications prepared by Developer's Engineer; provide general inspection of methods, materials, and work; and conduct final job inspection. Cost estimate for said City work will be furnished to Developer for review before commencement of work. C. Construction of Plan A Improvements: (1) Completion Date: All Plan A Improvements for Phase I Single Family Development shall be completed net later than 1 October 1985. . (2) Approval of Contractors: Any contractor selected by Developer to construct and install any Plan A Improvement shall be subject to approval by City, which approval will not be unreasonably withheld. City reserves the right to require evidence of competency and adequate financial status of any such contractor. (3) Construction: the construction, installation, materials, and equipment shall be in accordance with the approved plans and specifications. (4) Easements: City and Developer will cooperate with each other to give cross easements as necessary for the installation and maintenance of utilities. (5) Insurance: Developer will cause each person with whom Developer contracts for the construction and installation of any Plan A Improvements to furnish City with evidence of complete insurance coverage including workers' compensation, liability, and property damage. (6) As-Builts: Within ninety (90) days after the completion of said Plan A Improvements, Developer shall supply City with three print copies and one reproducible set of "As-Built" plans. . (7) Performance Bond - Phase I Water Improvements: Developer will fully and faithfully comply with all terms of any and all contracts entered into by Developer for the -5- . installation and construction of all Phase I Water Improvements and hereby guarantees the workmanship and materials for a period of one (1) year following City's final acceptance of said water improvements. To ensure such compliance and guarantee by Developer and to secure the sat"isfactory completion of the said Water Improvements, Developer shall provide a performance bond satisfactory to City. Such performance bond shall continue in effect during the construction period of the improvements and expire one (1) year after City's final acceptance of the improvements. Developer shall pay all reasonable attorney's fees and costs incurred by City in defense of or enforcement made by any rights of City under said Performance Bond. 7. PLAN B IMPROVEMENTS: Developer has petitioned City for the installation of Plan B Improvements. PLANB IMPROVEMENTS - PHASE I SINGLE FAMILY BRIEF DESCRIPTION OF IMPROVEMENTS ESTIMATED COST Permanent Street Sign and Street Sign Improvements $190,301.50 Sanitary Sewer Improvements $246,056.65 . TOTAL ESTIMATED COST $146,289.50 $582,647.65 Storm Sewer Improvements A. Institution: Developer has previously submitted to the City Council a petition as provided for by Minnesota Statutes Annotated Section 429.031, made and assessed against the benefitted properties. . B. Construction: The City Council has adopted a resolution determining the sufficiency of such petition; said Plan B Improvements shall be designed and constructed, in all respects, as other City Improvements made pursuant to the provisions of Minnesota Statutes A~notated Chapter 429 or other applicable statutes. C. Assessments: City agrees to make the Plan B Improvements and to assess 100 per cent of the total cost of the project against the subject property. Assessment will be over a period of time coinciding with the payback of the bonds sold to construct said project. The assessment shall bear interest at the rate of 11.25 per cent. The total cost of said project shall be the actual construction cost, plus indirect costs for administrative, legal, engineering, and bonding expenses. It is understood that the total of such indirect costs shall not exceed 22.5 per cent of actual construction costs, provided, however, that changes in the field requested by_Developer (the cost of which changes shall be documented by detailed engineering invoices) may cause such_percentage figure to be increased. Developer herewith agrees and waives all hearings and objections, statutory or otherwise, and consents to said assessments -6- . . . , being placed on the property providing that the assessments will be based on the following premises: (1) The single family lots shall be assessed for the cost of a 28 foot paved road, with the remainder costs of .oversizing up to and connecting to the frontage road to be spread against the multiple-family and commercial portions of the property. (2) City shall pursue the availability of outside funding sources for the funding of the Old Market Road/Highway 7 intersection improvement. (3) Developer shall share costs by means of reasonable right-of-way dedication for intersection construction and agrees to accept a proportionate assessment of construction costs. Developer, its heirs, successors, and assigns, shall not (except upon written approval of City) transfer any property or portion thereof that is the subject of the Agreement before the entire improvement cost for Phase I is assessed against the property without payment of a sum equivalent to the amount to be assessed, under and pursuant to this Agreement. If any such transfer is made before the special assessments have been levied, Developer shall pay City the sum of cash equal to the amount estimated by the City Engineer for the special assessment for the property to be transferred. Developer shall be liable to City for any deficiency between the estimated assessment and the actual levied assessment. City shall pay Developer any overage arising from payment based on such estimate. Hereinafter, any reference to special assessments shall include any such estimated special assessments. Within ten (10) days after execution of the Purchase Agreement between Developer, its heirs, successors, and assigns, and a buyer for any purchase of a property within the benefitted area, Developer, its heirs, successors, and assigns hereby agree to notify the City Clerk in writing in duplicate of the name and address of the purchaser, the date of the Purchase Agreement, and the legal description of the property purchased. City hereby reserves the right to call the attention of the buyer to the provisions of this Agreement~ In the event Develop~r fails to pay after 180 days from the due date, any installment of special assessments for a particular lot or lots within a Phase, and if such lot or lots constitute a quantity in excess of ten per cent (10%) of the total number of lots in said Phase, City at its option, and in addition to its rights and remedies hereunder, may declare all the unpaid special assessments levied on all property that is subject to this Agreement, due and payable in full, and immediately may commence legal action against Developer to collect the entire unpaid balance, including reasonable attorney's fees, and shall not be obligated to issue a building permit for construction on any lot within the development property. - 8. All Plan A and Plan B Improvements shall be overseen and inspected by City Inspectors. The City Inspector shall be on the -7- site as directed by the City Engineer. . 9. Developer shall pay the required park contributions as each Phase of the plat is approved, the amount of the park donation as required by City ordinances as of the date said final plat is approved. There is presently due on this Agreement to City the amount of $26,500 for park donation fees, which amount shall be paid upon execution of this Agreement. Developer shall be given credit for seven (7) park units paid during Phase II of the single family residential units for Developer's contribution of Outlot B and a portion of Outlot A, and Developer shall be given credit for three (3) park units for construction of the multi-family homes, for Developer's contribution of Outlot A. 10. , Sewer Assessments: The original assessments against the property for sanitary sewer are as follows: Clifford Property: (More specifically described in attached Exhibit A) 2,462,678 square feet; 1 C Unit, 1 B Unit, 1 A Unit, 3 D Units; Total Assessment: $33,027.00 Rebers Property: (More specifically described in attached Exhibit A) 754,046 square feet; 1 C Unit, '1 B Unit Total Assessment: $11,240.00 . Developer shall be entitled to the right to hook up eight (8) single family units within the described Phase upon paying to City the difference between the amount of a C Unit assessment and the amount originally assessed for the units plus seven (7) per cent interest from 1 January 1973 through 31 December 1985, which totals $5,951.00. In addition, there is an original assessment for sanitary sewers against a portion of the subject property which is planned for multi- family homes and commercial development as follows: Murfin Property: (More specifically described in attached Exhibit A) 1,139,070 square feet; 1 C Unit, 1 B Unit, 1 A Unit, 7 D Units Total Assessment: $23,791.00 Developer shall be entitled !to receive the right to hook up ten (10) multi-family homes within the described property by paying to City the difference between the amount for a B Unit assessment and the amount originally assessed for the units plus seven (7) per cent interest from 1 January 1973 to 31 December 1985, which totals $10,696.00. 11. Municipal Sewer Equalization Assessment: In addition to the charges set forth in Paragraph 10 above, Developer shall pay to City the sewer equalization charge for each of the living units authorized to be constructed in the project over and above those set forth in Paragraph 10 above, as follows: . -8- . Phase of the plat is approved, the amount of the park donation as required by City ordinances as of the date said final plat is approved. There is presently due on this Agreement to City the amount of $26,500 for park donation fees, which amount shall be paid upon execution of this Agreement. Developer shall be given credit for seven (7) park units paid during Phase II of the single family residential units for Developer's contribution of Outlot B and a portion of Outlot A, and Developer shall be given credit for three (3) park units for construction of the multi-family homes, for Developer's contribution of Outlot A. 10. Sewer Assessments: The original assessments against the property for sanitary sewer are as follows: Clifford Property: (More specifically described in attached Exhibit A) 2,462,6J8 square feet; 1 C Unit, 1 B Unit, 1 A Unit, 3 D Units; Total Assessment: $33,027.00 Rebers Property: (More specifically described in attached Exhibit A) 754,046 square feet; 1 C Unit, 1 B Unit Total Assessment: $11,240.00 Developer shall be entitled to the right to hook up eight (8) single family units within the described Phase upon paying to City the difference between the amount of a C Unit assessment and the amount originally assessed for the units plus seven (7) per cent interest from 1 January 1973 through 31 December 1985, which totals $5,951.00. . In addition, there is an original assessment for sanitary sewers against a portion of the subject property which is planned for multi- family homes .and commercial development as follows: Murfin Property: (More specifically described in attached Exhibit A) 1,139,070 square feet; 1 C Unit, 1 B Unit, 1 A Unit, 7 D Units Total Assessment: $23,791.00 Developer shall be entitled to receive the right to hook up ten (10) multi-family homes within! the described property by paying to City the difference between the ~mount for a B Unit assessment and the amount originally assessed' for the units plus seven (7) per cent interest from 1 January 1973 to 31 December 1985, which totals $10,696.00. 11. Municipal Sewer Connection Charges: In addition to the charges set forth in Paragraph 10 above, Developer shall pay to City the equalization sewer charge for connection to the municipal sewer, for each of the living units authorized to be constructed in the project over .and above those set forth in Paragraph 10 above, as follows: . -8- . . . Single Family Units: $400.00 per unit, plus interest at seven (7) per cent per annum from 1 January 1973, to the date of approval of any given stage of construction. Stage 1 has been approved for 53 units, minus a credit of eight (8) units, which leaves 45 units. With interest computed from 1 January 1973 to 31 December 1985, the total charge for these units would amount to $34,380.00. Multi-Family Units and Commercial rates will be determined pursuant to the equalization ordinance in effect at the time of development. Payments for all local sewer availability charges in each Phase shall be assessed at the time the final plat is approved for any given Phase. 12. City may in its discretion issue building permits prior to the completion of all the streets and utilities as provided for herein; it being understood by Developer that certificates, of occupancy shall not be issued until all utilities have been approved and accepted by City. The City may, however, issue certificates of occupancy prior to the final acceptance of the street, providing all other utilities have been installed and accepted. 13. Developer shall provide copies of all covenants, easements, and restrictions, and other documents relating to the project which shall be reviewed and approved by the City Attorney prior to the commencement of construction for Phase I. 14. Developer shall provide a copy of the Articles of Incorporation and By-Laws of the Homeowners Association for review and approval by City prior to the commencement of construction. The Homeowners Association shall make provisions for the permanent care and maintenance of any identifying monuments located at the entrance to the project. 15. City, its agents, and employees, shall not be personally liable or responsible in any manner to Developer, Developer's contractors or subcontractors, material men, laborers, or to any other person, firm, or corporation whomsoever, for any debt, claim, demand, damages, action, or causes of action of any kind or character arising out of or by reason of ~his Agreement of the performance of the work and improvements hereunder; Developer shall save City, its agents, and employees harmless from any and all claims, damages, demands, actions, or causes of action arising therefrom and the costs, disbursements, and expenses of defending the same, except for any work performed by City. 16. Developer agrees to hold Outlot C for the use of the property to the north to provide access to the property to the north and agree to sell Outlot C to the owners of the property to the north in the amount.of $60,000.00 (representing three sewer and street assessments), plus accrued interest from the date-of levy of said assessments to the date of said sale. 17. Outlot E shall be subject to maintenance by the Homeowners Association for the project. -9- . 18. Outlot D shall be developed and integrated with the Covington Vine Ridge Development with access to be provided through Covington Vine Ridge. 19. It is the intent of City to construct and install a Municipal Trunk Water Supply and Storage Facility to provide water to the southeast portion of the City of Shorewood consisting of an area bordered by Vine Hill Road on the east, Christmas Lake/Christmas Lake Point on the west, State Trunk Highway Number 7 on the north, and the City limits on the south. Developer agrees to connect to such municipal water facility at such time as its construction and installation is completed. Developer may interconnect with the City of Minnetonka for an interim water supply pursuant to Agreement for Water Service, dated August 5, 1985, between the City of Shorewood and City of Minnetonka. 20. City, at the request of Developer, has had a traffic study prepared by the City Engineer at a cost of $18,900.00. The cost of said study shall be assessed against the project. The assessment shall be levied one-third against the multiple residential and two- thirds against the commercial land. 21. It is understood that single family lots will be developed based upon the requirements of the R-1C Zoning District standards, as may be amended, except as specifically modified herein. City has heretofore and herewith grants certain setback variances as more specifically outlined in the attached Exhibit E. . 22. Developer shall furnish City single limit public liability insurance in the amount of $1,000,000. This insurance policy shall be furnished contemporaneously with the execution of this Agreement and shall remain in full force and effect during the period of any construction of Plan A Improvements by Developer. 23. Developer shall reimburse City for all costs above and beyond the normal services provided by City, including that of its consulting engineers, legal, planning, and administrative expenses incurred by City in connection with all matters relating to the preparation, administration, and enforcement of this Agreement and the performance thereof by Developer and all other matters relating to the PUD plan; Developer shall be entitled to receive as a credit against these expenses all applicable fees heretofore paid to City under and pursuant to zoning and subdivision ordinances and costs that have been assessed. Said extra charges will be itemized identifying person, task, time, date, and at-cost rate. 24. In the event Developer shall default in the performance of any of the covenants and agreements herein contained, and such default shall not have been cured within ninety (90) days after receipt by Developer of written notice thereof, City may deny building permits or certificates of occupancy for any building within the development, or in lieu thereof, take legal action against Developer. If such default involves the construc~ion or installation of any required Plan A Improvement, the City may take legal action . -10- . against the Developer and the surety of any performance bond filed hereunder to collect the entire cost thereof, including all reasonable engineering, legal, and administrative expenses incurred by the City. 25. The City staff, City Council, City consultants and Developer will at all times expedite all work involved in the development of Property and in the development and execution of the proposed Highway 7 intersection. 26. Developer at his expense shall provide temporary dams, earthwork, or such other devices and practices including seeding or grading of areas as shall be needed in the judgment of the City Engineer and the engineer for the appropriate watershed district. 27. The address of Developer for purposes of this contract is: Trivesco 14201 Excelsior Boulevard Minnetonka, Minnesota 55345-4997 28. It is agreed by and between the parties hereto that the agreement herein contained shall be binding upon and inure to the benefit of their respective legal representatives, successors, and assigns. . In the event any provision of this agreement shall be held invalid, illegal, or unenforceable by any court or competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision hereof and the remaining provisions shall not in any way be affected or impaired thereby. 29. This agreement may be simultaneously executed in several counterparts, each of which will be an original and all of which shall constitute, but be one and the same instrument. 30. This agreement shall be construed in accordance with the laws of the State of Minnesota. 31. Signs for the purpose of advertising the subject property may be erected in accordance with sign plans to be submitted by Developer and approved by the City-Council. . -11- , '. , i In presence of: @. ;~. SAND~A L. KNELL Y ....:;. NOT ARY 'UdLIC - MINNESOTA ..,"- HENNEPIN COUNTY , . . In presence of: ~J~.e~~ .. @;..~ SANDRA L. KENNELLY .," NOTARY ~UillC _ MINNESOTA ~ HENNEPIN COUNTY My commission expires Au,g. 22, 1986 . . CITY OF SHOREWOOD By:4~ ~~ Robert Rascop, Mayor By:JJ~ ri Its: City Administrator TRIVESCO ,(~-fP'~~ /~,~ By: :t~r Iv~.-.. . ~r II' Its: By: Its: -l2- DESCR 1 PT] ()N : . (REBERS PROPERTY) The South Half of the Northeast Quarter of the Northeast Quarter of Section 36, Township 117, Range 23, except the East 300 feet of the North Half thereof. . . (MURFIN PROPERTY) 1h~t part of the Southwest Quarter of th0 Southeast Qu~rter, Section 25, Township 117, Ranqe 23, lying South of ~ line extending from a point on the West line of said Southwest Quarter of the Southeast Quarter distant 591.42 feet North from the Southwest corner of said Southwest Quar.ter of the Southeast Quarter to a point on the East line of saip Southwest Quarter of the Southeast Quarter distant 1236.14 feet North from the Southeast corner of said Southwest Quarter of the Southeast Quarter, according to the Government survey thereof. (CLIFFORD PROPERTY) The Northwest 1/4 of the Northeast 1/4 of Section 36, Township 117, Range 23, except the South 50.0 feet of the West 100.0 feet thereof. All that part of Government Lot 4 in Section 36, Township 117, Range 23 bounded and described as follows: Commencing at a point on the East boundary line of said lot a distance of 677.4 feet from and ~irec~ly North of the Southeast corner of said lot; thence North on said East boundary 11ne ~o the ~ortheast corner of said lot; thence West on said North boundary line of sa1d lot to the center line of the county road now located and in use between Solberg's Point and Chanhassen; thence in a Southeasterly direction alryng rhp center line of said county road to the point of intersection of said center 11ne of said county road with a line drawn parallel with and 677.4 feet North of the Southerly line of said Lot 4; thence East along said line parallel with and 677.4 feet North of the Southerly line of said Lot 4 to the point of beginning; except that part thereof described as follows: Beginning at the Southwest corner of the Northwest Quarter of the Northeast Quarter of ~p.ction 36; thence East along the North line of said Government Lot 4, a distance of 308.5 feet; thence at a right angle South 259.91 feet; thence Southwesterly, deflecting to the right at an angle of 69 degre~s 44 minutes, a distance of 416.81 feet to the Northeasterly line of Covington Road; thence Northwesterly along said Northeasterly line of said Covington Road a distance of 457.46 feet to the North line of said Government Lot 4; thence East along said North line of said Government Lot 4 a distance of 295.16 feet to the point of beginning. 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"",-, ~g.:1'~ t f~t- . r ...... I?;:l - ,., .""1 ", ... ..... , -+ I:i ..J Co ;c- %~ ~cs: ; 'l\l- ~i ~~ tOo ~:z .~, . ~\U IC.~ ~:z ~~ ~J:;- 1~\iI '-11 _...~... , ~.., ~ '91J '" .v..." .,.....L. <<~"I 7 ~(~-... .i i ~. ~ I . I ",,' ~ :z ~ ~ . .~ ;; ~ .) , ~ c:! ~~ . ',<.~I;;. l< '.\ \ t -~ ~! 5 ~ h' ! ~ ~! ~~... .1 .. f """ . ltt. ~ ~-,~ .... I " ~ ~ I ~ .' ;0- ~ --1 <( I.U ~ f Z 4 ~ .. ~ i' \- \U ~ :z tC ~ '.) -r I 0- I :z ,n ~ I . ! ." j ~ ~I'r ,~_...' 'Eli ~ -- .. < ." ....., ......, .,-* ,- _ ;.:..<.~~~'\"7"\ ,....._ .' . ,. ..{ ';, . ..: ~ . ~>'h, b,t D,:, . ", ~.'~ '1.1\'fO.......E' o ~-,,~ -,,0 . ~ if )."11> :i'.-t ",,!,, a';' .J " Jl> if Z Cl(J) -(') Z:r; (]I mO mm U. ",!,," ~ 0 ",!"" ~ lID . ";: ~ ------~:.:~-~;~.; ., ~ ",0 " c:(J) " .." ., ",0 " .., ~, Z S.)"~8 Zb""" <.. m_ ~Z 0 .. (') C 0 O. " Q) -4 " '" ~ '" . ;; c g ! ~ . [: &g 8 o noss--r--' SO~~ 2 o 8 = - "Frr-.- so...,.,-tJl- "1100 .. 00 - 50.....2'. w ~hiolt p.-\ 1'11jtJ '- I f I I I a Ii ~ ~ I .. c z ... ". ,~ ~ .. ~. 0 . ~ ;.... " ~ - .. ~ ~ -". ;y. ~ o. m :II -n 0 :II C o::u ~~ 00 00 00 zZ pp '0 .. . rr ~ ~ , . " ~ :; ii ;. U) . J ~ II /'3 '" z Cl(J) -(') Z:r; "'0 '"m ",I"" ",I"" . lID ";: ~ ",0 c:(J) ",0 Z <.. ~z O~ '" '" I f I I i , (.I o I i i q, I: ;i .. . M i ~h, bi f t,.... 2 Jl> ,... 1 ..~oo WI." , " REL'D MAY 51 1985 . DEVELOPMENT AGREEMENT TRIVESCO THIS AGREEMENT, made this day of , 1985, by and between the CITY OF SHOREWOOD, a Minnesota Municipal corpora- tion, hereinafter called "City", and TRIVESCO, a partnership consisting of Steiner and Koppelman, Inc., Robert H. Mason Homes, Inc., and Highland Properties, Inc., hereinafter called "Developer". WHEREAS, Developer is purchasing certain property located in the City of Shorewood, County of Hennepin, State of Minnesota, described as set forth in Exhibit A, attached hereto and incorporated herein by reference and hereinafter referred to as "PropertY"i and WHEREAS, Developer proposes to develop said property by means of a planned unit development "PUD" and inclu~within the development single family homes, multi-family homes, and commercial property as more fully described by Shorewood Resolution Number 39-84, dated the 25th day of June, 1984; and . WHEREAS, Developer has heretofore filed his application for a planned unit development with the City Clerk and after proper legal notices, public hearings considering the plans were held on the 4th day of May, 1984, and the 11th day of June, 1984. WHEREAS, the City Council has approved the PUD, Comprehensive Plan Amendment, and rezoningi and WHEREAS, the City Planning Commission made its reco~menda- tions on the preliminary plat to the City Council, which recommenda- tions were dated the 15th day of May, 1984, and which did recommend said preliminary plat. Pursuant to said reco~~endation the City Council did consider the.preliminary plat and approved the same on the 10th day of September as set forth in Resolution Number 6l-84i and WHEREAS, The City Council approved the first phase single family final plat on the day of , 198 , as set forth in Resolution Number ____; and WHEREAS, the Development Agreement is required pursuant to Shorewood Ordinance No. 122. NOW, THEREFORE, in consideration of the mutual.covenants and guarantees contained herein, the parties hereby agree as follows: . _"_~.___ _," _ .." _,,_.___ _..___,..,....__,_,.,~_.._,...____,. ...~'4_...'~~_,~__'"..~.._.,.,~.~~~.~..'''~.__.~_.~_.,..~_~ ~ ' . . . . ';' 1. All improvements and structures to be constructed on subject property shall be done in compliance with all laws, ordinances, regulations, and standards of the State of Minnesota, City of Shorewood, appropriate watershed district and federal laws as may be applicable, except as hereinafter specifically modified, which compliance shall be reviewed by the City Administrator or his agents so as to determine that they are, in fact, in accordance with said regulations referred to herein. 2. The legal description of the property is sho~vn on Exhibit A attached hereto. The Developer's attorney, Jeremy S. Steiner, has rendered a title opinion dated October 31,. 1984, which opinion guarantees that the Developer in fact has a legal right to become fee owner of the property upon exercise of a certain contract for deed and to enter upon the same for the purposes of developing property. Developer agrees that in the event the Developer's ownership in the property should change in any fashion, except for the normal process of marketing lots, prior to the completion of the project and the requirements of this contract that he shall forthwith notify the City of such change in ownership. 3. The Developer has filed with the City Clerk the final plat for the development of the single-family portion of the project and said plat is hereby attached as Exhibit Band incorporated herein. Said final plat, together with this Develop- ment Agreement, is herewith adopted and approved by the City as Developer's final plan except as hereinafter expressly altered or amended. The single-family portion of the project is pro- posed to be developed in separate phases. Additional develop- ment plans and final plans will be provided for the multi-family and commercial portions of said project. Each phase shall be developed in accordance with the following schedule: PHASE I: Single Family Homes Co~~ence on or before Spring, 1985 PHASE II: Single Family Homes , Final plat of single family homes commence about or before Fall, 1987 PHASE III: Multi-Family Homes Commence about or before Fall, 1990 PHASE IV: Commercial Commence about or before Fall, 1991 The preliminary plat for Blocks 1 through 8 ot Waterford have been approved by the City Council. The final plat for Blocks 1 through 5 and Lots 1 through 9, Block 6, have been approved by the City Council. The remainder of the property shall initially be -2- ." , . . ~ . .. platted as outlots. As each phase is developed, the-platting process shall be used in accordance with the procedures set out in existing city ordinances. No work on any phase shall be commenced until the requirements as to each phase as set out herein have been met and formal approval to proceed is given by the City. Should the developer violate the conditions of this Agreement, the City Council may renegotiate the terms of this Agreement pursuant to Section 27A, Subdivision 6D.5 of Shore wood Ordinance No. 122. The Developer may make changes for the purpose of meeting a future and changing market by making adjustments to future phases with the approval of the City Council. It is agreed that upon receipt of written notice from the Developers of the existence of causes over which Developer has no control, which could delay the start or completion of work on ariy phase, the City Council will, at its discretion, extend the date specified herein. 4. Developer shall file a grading and drainage plan for each development state, as defined by Ordinance No. 122, which plan shall be subject to review and approval of the City Engineer. Initial grading plans shall be filed forthwith and shall be in accordance with the documents which have heretofore been presented as part of the final plan. Developer shall be limited to the construction of those units shown on the final plan as approved. Developer shall not increase the number of units as approved in said plan without the prior approval of the City. . Before commencement of construction on any stage that involves housing other than single family housing, the Developer shall file a detailed site plan showing the location of the structures to be built. Prior to construction on any phase, including single family housing, the Developer shall file plans showing the details of the construction of required storm drains, water lines, and sewer lines, together with all required approvals from regulatory bodies not previously obtained. Cross-sections shall be used to show construction details of driveways and streets which shall be in conformance with specifications set out in the City ordinances and the requirements of the City Engineer. Cross-sections shall show the layout and proposed location within the right-of-way of electric, telephone, TV cables, sewer, water, and storm drain lines. . Also to be filed shall be street plans, street lighting plans, and entrance construction plans including entrance monuments, berms, and other landscaping to be provided. All of the materials to be employed in the construction of all of the.improvements shall be of a uniformly good and workman- like quality, and shall equal or exceed City standards and specifications. If any labor and material supplied shall be rejected by the City as defective or unsuitable, such rejected material shall be removed and replaced with approved material. Rejected labor shall be done anew to the satisfaction of the -:3- City at the cost and expense of the Developer. . 5. The following .described improvements, hereinafter collectively called II Improvements " shall be constructed and installed in accordance with the policies and ordinances of the City, and on the terms and conditions set forth: A. Street grading, gravelling, and stabilization, including construction of berms and boulevards and surmountable curbs and concrete gutters, hereinafter called "Street Improvements." B. Storm sewers, including all necessary catch basins, inlets and other appurtenances, hereinafter called "Storm Sewer Improve- ments.1I C. Sanitary sewer laterals and extensions for supplying all necessary building services and other appurtenances, herein- after called "Sanitary Sewer Improvements." D. Water mains, laterals, or extensions for supplying all necessary building services, hydrants, valves, and other appurtenances, hereinafter called "Water Improvements." . E. The City will grant to the developer a water franchise, whereby the Developer will construct, operate and maintain a water system in the City of Shorewood. Such water franchise shall provide for the construction of the Trunk Water Supply and Storage Facilities described in Exhibit E, attached hereto. Developer agrees to accept such water franchise and perform all of the terms and conditions contained therein. F. Permanent street surfacing including concrete curb and -gutter, hereinafter called "Permanent Street Improvements." G.. Standard street name signs at all newly opened inter- sections, hereinafter called "Street Sign Improvements." H. Traffic control sign improvements for controlling traffic on the newly opened streets and intersections, hereinafter referred to as "Traffic Control Sign Improvements." I. Street lighting, including poles, crossarms, wire, and transformer pedestals, and other necessary appurtenances herein- after called "Street tighting Improvements," as provided by City agreement with Northern States Power. J. Improvements to be installed at Developer's expense by Developer as provided herein, are hereinafter referred to as "Plan A Improvements." Improvements which the Developer has petitioned the City to install and finance on an assessment basis are hereinafter referred to as "Plan B Improvements. '! . 6. PLAN A IMPROVEMENTS; The Developer shall construct and install at the Developer's expense the following improvements under Plan A, according to the following terms and conditions and the general and special conditions attached hereto and made a part of this agreement. -4- . " . .' PLAN A IMPROVEMENTS - PHASE ONE SINGLE FAMILY . BRIEF DESCRIPTION OF IMPROVEMENTS ESTIMATED COST Water Improvements as described in Contract Documents for Project 84-5, Waterford, dated July 23, 1984 $ 123,235.00 Traffic Control Sign Improvements as described in Exhibit C. $ 450.00 Entrance Monuments and more fully described in specifications attached Exhibit D. Identity Signs, the plans and hereto as $ 8,000.00 TOTAL ESTIMATED COST: $ 131,685.00 . A. Construction Plan and Approval Thereof: The Developer will engage, at Developer's expense, a duly registered professional civil engineer authorized to practice within the State of Minne- sota, to prepare detailed plans and specifications for the complete installation of the water improvements portion of Plan A Improve- ments in accordance with City standards, and submit same to the City Engineer for written approval prior to commencement of construction. In the case where the City Engineer prepares feasibility plans for a portion of the Plan A Improvements, that cost will be assessed against the property. The Water Feasability Report dated August 13, 1984, prepared by the City Engineer will not be assessed to the property or paid for by the Developer. B. Services to be Performed by City 'and Payment Therefor : (I) The City will review and approve plans and specifi- cations prepared by Developer's Engineer, provide general inspection of methods, materials, and work, and conduct final job inspection. Cost estimate for said City work will be furnished to the Developer for review before commencement of work. . C. Construction of PlanA Improvements: (I) Completion Date: All Plan A Improvements for Phase One Single Family Development shall be completed not later than October I, 1985. (2) Approval of Contractors: Any contractor selected by the Developer to construct and install any Plan A Improvement shall be subject to approval by the City, which approval will not be unreasonably withheld. The City reserves the right to require evidence of competency and adequate financial status of any such contractor. (3) Construction: The construction, installation, materials, and equipment shall be in accordance with the -5- -------~~--- - ~ . .. . . . approved plans and specifications. (4) Easements: The City and the Developer will cooperate with each other to give cross easements as necessary for the installation and maintenance of utilities. (5) Insurance: The Developer will cause each person, with whom Developer contracts for the construction and installa- tion of ,any Plan A Improvements, to furnish the City with evidence cf complete insurance coverage including workmen's compensation, liability, and property damage. (6) As-Builts: within ninety (90) days after th~ comple- tion of said Plan A Improvements, Developers shall supply the City with three print copies and one reproducible set of "As-Built" Plans. (7) Performance Bond-' Phase One Water Tmpr'ovements: The Developer will fully and faithfully comply with all terms of any and all contracts entered into by the Developer . for the installation and construction of all Phase One Water Improvements and hereby guarantees the workmanship and materials for a period of one (1) year following 'the City's final acceptance of said water improvements. To ensure such compliance and guarantee by the Developer and to secure the satisfactory completion of the said Water Improvements, the Developer shall provide a performance bond satisfactory to the City. Such performance bond shall continue in effect during the construction period of the improvements and expire one (l) year after the City's final acceptance of the improvements. The Developer shall pay all reasonable attorney's fees and costs incurred by the City in defense of or enforcement made by any rights of the City under said Performance Bond. (8) Letter of Credit - Trunk Water Supply and Storage Facilities: The Developer will fully and faithfully comply \vi th all terms of any and all contracts entered into by the Developer for the installation and construction of the Trunk Water Supply and Storage Facilities, as described in Exhibit E, and hereby guarantees the workmanship and materials for a period of one (1) year following the City's final acceptance of said Trunk Water Supply and Storage Facilities. To ensure such compliance and guarantee by the Developer and to secure the satisfactory completion of the said Trunk Water Supply and Storage Facilities, the Developer shall herewith deposit with the City a Letter of Credit satisfactory to the City. Such Letter of Credit shall continue in effect during the construction period of said Trunk Water Supply and Storage Facilities and expire one (1) year after the City's final acceptance of said Trunk Water Supply and Storage Facilities. The amount of the Letter of Credit shall be equal to one hundred fifty per cent (150%) of the estimated cost of construction of said Trunk Water Supply and Storage Facilities as approved by the City Engineer. The Developer shall pay all reasonable attorney's fees and costs incurred by the City in defense of or enforceme~t made by any rights of the City under said -~- . . . ~ 7. PLAN B IMPROVEMENTS: The Developer has petitioned the City for the installation of Plan BImprovements. PLAN B IMPROVEMENTS - PHASE ONE SINGLE FAMILY BRIEF DESCRIPTION OF IMPROVEMENTS , ESTIMATED COST Permanent Street and Street Sign Improvements $ 190,30l.50 $ 246,056.65 $ l46, 2,89,.5.0 Sanitary Sewer Improvements Storm Sewer Improvements TOTAL ESTIMATED COST: $ 582,647.65 A. Institution: The Developer has previously submitted to the City Council a petition as provided for by M.S.A. 429.031, made and assessed against the benefitted properties. B. Construction: The City Council has adopted a resolution determining the sufficiency of such petition; said Plan B Improvements shall be designed and constructed, in all respects, as other City Improvements made pursuant to the provisions of M.S.A. Chapter 429 or, other applicable statutes. ~. Assessments: The City agrees to make the Plan B Improvements and to assess 100 percent of the total cost of the project against the subject property. Assessment will be over a period of time coinciding with the payback of the bonds sold to construct said project. The assessment shall bear interest at the rate of 11.25 per cent. The total cost of said project shall be the actual construction cost; plus indirect costs for adminis- trative, legal, engineering and bonding expenses. It is under- stood that the total of such indirect costs shall not exceed 22.5% of actual construction costs, provided, however, that changes in the field requested by Developer (the cost of which -7- '.. . ." . . . changes shall be documented by detailed engineering invoices) may cause such percentage figure to be increased. Developer herewith agrees and waives all hearings and objections, statu- tory or otherwise, and consents to said assessment being placed on the property providing that the assessments will be based on the following premises: (l) The single family lots shall be assessed for the cost of a 28 foot paved road, with the remainder costs of oversizing up to and connecting to the frontage road to be spread against the multiple- family and commercial portions of the project. (2) The City shall pursue the availability of outside funding sources for the funding of the Old Market Road/Highway 7 intersection improvement. (3) The Developer shall share costs by means of reasonable right-of-way dedication for intersection construction and agrees to accept a proportionate assessment of construction costs. The Developer, its heirs, successors and assigns, shall not (except upon written approval of the City) transfer any property or portion thereof that is the subject of this A .reement before the entire improvement cost for Phase One is assessed against the property without payment of a sum equivalent to the amount to be assessed, under and pursuant to this Agreement. If any such transfer is made before the special assessments have been levied, Developer shall pay the City the sum of cash equal. to the amount estimated by the City Engineer for the special assessment for the property -8- . . . to be transferred. Developer shall be liable to the City for any deficiency between the estimated assessment and the actual levied assessment. The City shall pay the Developer any overage arising from payment based on such estimate. Hereinafter, any reference to special assessment shall include any such estimated special assessments. Within ten (10) days after the execution of the Purchase Agreement between the Developer, its heirs, successors, or assigns, and a buyer for any purchase of a property within the benefited area, the Developer, its heirs, successors, and assigns hereby agree to notify the City Clerk in writing in duplicate of the name and address of the purchaser, the date of the Purchase Agreement, and the legal description of the property purchased. The City hereby reserves the right to call the attention of the buyer to the provisions of this Agree- ment. " In the event the Developer fails to pay after l80 days from the due date, any installment of special assessments for a particu- lar lot or lots within a phase, and if such lot or lots constitute a quantity in excess of ten percent (10%) of the "total number of lots in said phase, the City at its option in addition to its rights and remedie$ hereunder may declare all the unpaid special assessments levied on all property that is subject to this Agree- ment, due and payable in full, and immediately may commence legal action against the Developer to collect the entire unpaid balance, including reasonable attorney's fees, and shall not be obligated to issue a building permit for construction on any lot within the development property. 8. All Plan A and Plan B Improvements shall be overseen and inspected by City Inspectors. The City Inspector shall be on the site as directed by the City Engineer. 9. The Developer shall pay the required park contributions as each phase of the plat is approved, the amount of park donation as required by the City ordinances as of the date said final plat is approved. There is presently due by this agreement to the City the amount of $26,500 for park donation fees, which amount shall be paid upon execution' of this Agreement. Developer shall be given credit for seven (7) park units paid during Phase II of the single family residential units for developer's contri- bution of Outlot B and a portion of Outlot A, and Developer shall be given credit for three (3) park units for the construction of the multi-family homes, for developer's contribution of Outlot A. lO. Sewer Assessments: The original assessmen~against the property for sanitary sewer are as follows: -9- . . . . . Clifford Property: (More specifically described in attached Exhibit A) 2,462,678 square feet; I C Unit, 1 B Unit, 1 A Unit, 3 D Units; Total Assessment: $33,027.00 Rebers Property: attached Exhibit Unit, 1 B Unit Total Assessment: (More specifically described in A.) 754,046 square feet; 1 C $11,240.00 Developer shall be entitled to the right to hook up eight (8) single family units within the described phase upon paying to the City the difference between the amount of a C unit assess- ment and the amount originally assessed for the units plus seven percent (7%) interest from January 1, 1973, through December 31, 1985, which totals $5,951.00. In addition, there is an original assessment for sanitary sewers against a portion of the subject property which is planned for multi-family homes and commercial development as follows: Murfin Property: (More specifically described in attached Exhibit A) 1,139,070 square feet; I C Unit, I B Unit, 1 A Unit, 7 D Units Total Assessment: $23,791.00 Developer shall be entitled to receive the right to hook up ten (10) multi-family homes within the described property by paying to the City the difference between the amount for a B unit assessment and the amount originally assessed for the units plus seven percent (7%) interest from January 1, 1973 to December 31, 1985, which totals $10,696.00. 11. Municipal Sewer Connection Charges: In addition to the charges set forth in Paragraph 10 above, the Developer shall pay to the City the equalization sewer charge for connection to the municipal sewer, for each of the living units authorized to be constructed in the project over and above those set forth in Paragraph 10 above, as fol~ows: Single Family Units: $400.00 per unit, plus interest at seven percent (7%) per annum from January 1, 1983, to the date of approval of any given state of construction. Stage 1 has been approved for 53 units, minus a credit of eight (8) units, which leaves 45 units. With interest computed from January I, 1973, to December 31, 1985, the total charge for these units would amount to $ 34,380.00. -10- . . . . . . ;t,. . Multi-Family Units and commercial rates will be determined pursuant to the equalization ordinance in effect at the time of development. Payments for all local sewer availability charges in each phase shall be assessed at the time the final plat is approved for any given phase. 12. The City may in its discretion issue building permits prior to the completion of all the streets and utilities as provided for herein, it being understood by the Developer that certificates of occupancy shall not be issued until all utilities have been approved and accepted by the City. The City may, however, issue certificates of occupancy prior to the final acceptance of the street, providing all other utilities have been installed and accepted. 13. The Developer shall provide copies of all covenants, easements, and restrictions and other documents relating to the project which shall be reviewed and approved by the City Attorney prior to the commencement of construction for Phase One. 14. The Developer shall provide copy of Articles of Incorporation and By-Laws of the Homeowners Association for review and approval by the City prior to commencement of construction. The Homeowners Association shall make provisions for the permanent care and maintenance of any identifying monuments located at the entrance to the project. 15. The City, its agents and employees, shall not be per- sonally liable or responsible in any manner to the Developer, the Developer's contractors or subcontractors, material men, laborers, or to any other person, firm, or corporation whomsoever, for any debt, claim, demand, damages, action, or causes of action or any kind of character arising out of or by reason of this agreement of the performance of the work and improvements hereunder; the Developer shall save the City, its agents, and employees harmless from any and all claims, damages, demands, actions, or causes of action arising therefrom and the costs, disbursements and expenses of defending the same, except for ~ . any work performed by the C~ty. 16. Developers agree to hold Outlot C for the use of the property to the north to provide access to the property to the north and agree to sell Outlot C to the owners of the property to the north in the amount of $60,000 (representing three sewer and street assessments), plus accrued interest from the date of said sale. -11- . . . 17. Outlot E shall be subject to maintenance by the Homeowners Association for the project. 18. Outlot D shall be developed and integrated with the Covington Vine Ridge Development with access to be provided through Covington Vine Ridge. 19. Prior to the construction of the Trunk Water Supply and Storage Facilities designated in Exhibit E, the Developer may interconnect with the City of Minnetonka for an interim water supply pursuant to agreement between the Cities of Shorewood and Minnetonka. Such agreement shall provide for service ex- tending over a period of four (4) years 'or up to a total of 90 water user units, whichever first occurs. The Developer shall have the right and authority pursuant to a franchise agreement with the City to supply water to areas outside the project including Covington Vine Ridge, Silver Ridge Development, Johnson lots, and other adjoining lots if said property owners request to be connected. 20. The City at the request of Developer has had a traffic study prepared by the City Engineer at a cost of $18,900.00. The cost of said study shall be assessed against the project. The assessment shall be levied one-third against the multiple residential land and two-thirds against the commercial land. 21. The City agrees to sell to Developer for the sum of $5,000.00, a well site of approximately 10,000 square feet to be located in the northwesterly corner of the property to be pur- chased from Bruce Construction Company for park property. If the City does not acquire said property from Bruce Construction Company, this paragraph has no effect. 22. It is understood that single family lots will be developed based upon the requirements of the R-2 Zoning District standards, as may be amended, except as specifically modified herein. The City has heretofore and herewith grants certain setback variances as more specifically outlined in the attached diagram as Exhibit F. 23. The Developer shall furnish the City single limit public liability insurance in the amount of $1,000,000. This insurance policy shall be furnished contemporaneously with the execution of this agreement and shall remain in full force and effect during the period of any construction of Plan A Improve- ments by the Developer. 24. The Developer shall reimburse the City for all costs above and beyond the normal services provided by the city, including that of its consulting engineers, legal, planning, and administra- tive expense incurred by the City in connection with all matters relating to the preparation, administration, and enforcement of this agreement and the performance thereof by the Developer and all other matters relating to the PUD plan; the Developer -12- . . . , ' shall be entitled to receive as a credit against these expenses all applicable fees heretofore paid to the City under and pursuant to zoning and subdivision ordinances and costs that have been assessed. Said extra charges will be itemized identifying person, task, time, date, and at-cost rate. 25. In the event the Developer shall default in the per- formance of any of the covenants and agreements herein contained, and such default shall not have been cured within ninety (90) days after receipt by the Developer of written notice thereof, the City may deny building permits or certificates of occupancy for any building within the development, or in lieu thereof, take legal action against the Developer. If such default involves the construction or installation of any required Plan A Improve- ment, the City may cause such improvement to be constructed and installed, and may cause the entire cost thereof, including all reasonable engineering, legal, and administrative expenses incurred by the City, to be paid by drafts drawn against the Letter of Credit or other security deposited pursuant to the terms of this Agreement, or in lieu thereof, the City may take legal action against the Developer. In the event of an emergency, as determined by the City Engineer, the notice requirements to the Developer shall be and hereby are waived in their entirety, and the Developer shall reimburse the City for any expense incurred by the City in remedying the conditions creating the emergency. 26. The City staff, City Council, City consultants and Developers will at all times expedite all work involved in the development of the "property" and in the development and execu- tion of the proposed Highway 7 intersection. 27. Developer at his expense shall provide temporary dams, earthwork, or such other devices and practices including seeding cr grading of areas as shall be needed in the judgment of the City 'Engineer and the engineer for the appropriate watershed district. 28. contract The address of the Developer for purposes of this is: Trivesco · 14201 Excelsior Boulevard Minnetonka, Minnesota 55345-4997 29. It is agreed by and between the parties hereto that the agreement herein contained shall be binding upon and inure to the benefit of their respective legal representatives, successors, and assigns. -13- ..', . . . , . .." , In the event any prov~s~on of this agreement shall be held invalid, illegal, or unenforceable by any court or competent jurisdiction, such holding shall not invalidate or render un- enforceable any other provision hereof and the remaining provisions shall not in any way be affected or impaired thereby. 30. ,This agreement may be simultaneously executed in several counterparts, each of which will be an original and all of which shall constitute, but be one and the same instrument. 31. This agreement shall be construed in accordance with the laws of the State of Minnesota. 32. Signs for the purpose of advertising the subject property may be erected in accordance with sign plans to be submitted by Developer and approved by the City Council. In Presence of: CITY OF SHOREWOOD By: Robert Rascop, Mayor By: Its:' In Presence of: TRIVESCO By:' Its: By: Its: -14- ~ ~ r c .. :. ~ . . . .. STATE OF MINNESOTA) ) ss COUNTY OF HENNEPIN) The foregoing instrument was acknowledged before me this day of , 1985. Notary Public -l5-