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(reserved for recording information) <br /> RELEASE OF <br /> DEVELOPMENT CONTRACT <br /> RELEASE OF DEVELOPMENT CONTRACT granted this d7 day of <br /> July ,2020,by the CITY OF ORONO,a Minnesota municipal corporation("City"). <br /> WHEREAS,the City has been requested to release and discharge Lot 2 and Lot 4,Block 1, <br /> Tanager Estates, Hennepin County, Minnesota, according to the recorded plat thereof("Subject <br /> Property') from the Development Contract between the City and Irwin L.Jacobs,as Trustee of the <br /> Third Amended and Restated Revocable Trust of Irwin L.Jacobs dated November 22,2006,as <br /> amended on September 24,2007,July 10,2008 and October 23,2009,and Alexandra Jacobs,as <br /> Trustee under the Alexandra Jacobs Revocable Trust Agreement dated November 22,2006,as <br /> amended on October 23,2009,Developer,dated October 19,2016 and recorded November 2,2016, <br /> as Hennepin County, Minnesota, Document No. T05395232 ("Development Contract"); <br /> WHEREAS,all requirements of the Development Contract have been met as to the Subject <br /> Property and there is no longer a need to have the Development Contract recorded against the <br /> Subject Property. <br /> NOW THEREFORE, be it resolved by the Orono City Council: <br /> The Subject Property is released and discharged from the Development Contract. <br /> ADOPTED this � I day ofJAI/ ,2020. <br /> 1 <br /> 210836v2 <br />