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(reserved for recording information) <br /> DEVELOPMENT CONTRACT <br /> (Developer Installed Improvements) <br /> SHORELINE ESTATES <br /> PROJECT NO. LA21-000055 <br /> AGREEMENT dated 060he r I I , 2021, by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City"); and Mark Jacobs and Trisha Blake, <br /> each as Trustee for the Irwin L.Jacobs 2018 Irrevocable Trust Agreement dated as of April <br /> 30,2018 ("Developer"). <br /> 1. REQUEST FOR PLAT APPROVAL. The Developer has asked the City to <br /> approve a plat for SHORELINE ESTATES (referred to in this Contract as the "Plat"). The land <br /> to be subdivided by the Plat (the "Land") is situated in the City of Orono, County of Hennepin, <br /> State of Minnesota, and is legally described on the attached EXHIBIT A. <br /> 2. CONDITIONS OF PLAT APPROVAL. The Plat shall adhere to the purpose <br /> and intent of the Orono Community Management Plan, as amended. The City hereby approves the <br /> Plat on condition that the Developer enter into this Contract and furnish the security required by it. <br /> The City will cause the Plat to be duly recorded in the office of the Registrar of Titles in and for <br /> 1 <br /> 278322 <br /> 218300v1 <br />