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(reserved for recording information) <br /> DEVELOPMENT CONTRACT <br /> AND <br /> RESIDENTIAL PLANNED UNIT DEVELOPMENT AGREEMENT <br /> (Developer Installed Improvements) <br /> ORONO SENIOR HOUSING <br /> PROJECT NO. 11-3498 <br /> PUD NO. 7 <br /> AGREEMENT dated June/ 27 , 2011, by and between the CITY OF ORONO, a <br /> Minnesota municipal corporation ("City"), and CPE EXCHANGE 33968, LLC, a Minnesota limited liability <br /> company (the "Developer"). <br /> 1. REQUEST FOR DEVELOPMENT AND RESIDENTIAL PLANNED UNIT <br /> DEVELOPMENT APPROVAL. The Developer has asked the City to approve a development and <br /> residential planned unit development for ORONO SENIOR HOUSING PROJECT NO. 11-3498 (referred to in this <br /> Contract as the "Development/RPUD/PUD #7" The land is situated in the County of Hennepin, State of <br /> Minnesota, and is legally described on the attached Exhibit "A". <br /> 2. CONDITIONS OF DEVELOPMENT AND RESIDENTIAL PLANNED UNIT <br /> DEVELOPMENT APPROVAL. The City hereby approves the Development/RPUD/PUD #7 on condition <br /> that the Developer enter into this Contract, furnish the security required by it, and record this Contract with <br /> 1 ORONO/Orono Senior Housing Project <br /> No. 11-3498 (875 Wayzata Boulevard) <br />