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(reserved for recording information) <br />DEVELOPMENT CONTRACT <br />and <br />PLANNED RESIDENTIAL DEVELOPMENT AGREEMENT <br />(Developer Installed Improvements) <br />BENNETTS NORTHERN WOODS <br />Project File Numbers I8-3994 & LA 18-000025 <br />This DEVELOPMENT CONTRACT ("Contract") dated June 25, 2018, is by and <br />between the CITY OF ORONO, a Minnesota municipal corporation ("City"), and ArtCraft <br />Homes, Inc., a Minnesota corporation ( "Developer"). <br />1. REQUEST FOR PLAT AND PLANNED RESIDENTIAL DEVELOPMENT <br />APPROVAL. The Developer has asked the City to approve a plat and a Planned Residential <br />Development for "Bennetts Northern Woods" ("Plat"). The land to be subdivided by the Plat <br />("Land") is situated in the City of Orono, County of Hennepin, State of Minnesota, and is legally <br />described on Exhibit A attached hereto. <br />2. CONDITIONS OF PLAT AND PLANNED RESIDENTIAL <br />DEVELOPMENT APPROVAL. The City hereby approves the Plat and Planned Residential <br />Development on condition that the Developer enters into this Contract and furnishes the security <br />required by it. The City will cause the Plat to be duly recorded in the office of the Registrar of Titles <br />or County Recorder in and for Hennepin County, Minnesota, promptly after compliance by the <br />Developer with all conditions precedent to such recording pursuant to this Contract, which <br />conditions precedent the Developer shall cause to be satisfied within 180 days after the City Council <br />approves the final Plat. <br />180976 <br />1 <br />196841A <br />