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<br />1 <br /> <br />220299v4A <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />(reserved for recording information) <br /> <br />DEVELOPMENT CONTRACT <br />(Developer Installed Improvements) <br /> <br />LONG BRIDGE <br />PROJECT NO. LA22-000003 <br /> <br /> <br /> <br /> AGREEMENT dated ____________________, 2022, by and between the CITY OF ORONO, a <br />Minnesota municipal corporation (“City”); and the JOHN E NEWELL, AS TRUSTEE OF THE JOHN E <br />NEWELL TRUST UNDER AGREEMENT DATED JUNE 21, 2017 (“JEN Trust”) and the STEPHEN L. <br />NEWELL, AS TRUSTEE OF THE STEPHEN L NEWELL TRUST UNDER AGREEMENT DATED <br />JUNE 21, 2017 (“SLN Trust”) (hereinafter, the JEN Trust and the SLN Trust are collectively the “Developer”). <br /> 1. REQUEST FOR PLAT APPROVAL. The Developer has asked the City to approve a plat for <br />LONG BRIDGE (referred to in this Contract as the “Plat”). The land to be subdivided by the Plat (the “Land”) <br />contains 24.68 acres and will be developed into three buildable lots and one outlot for a private road. The Land <br />is situated in the City of Orono, County of Hennepin, State of Minnesota, and is legally described on the attached <br />EXHIBIT A (“Subject Property”). <br /> 2. CONDITIONS OF PLAT APPROVAL. The Plat shall adhere to the purpose and intent of the <br />Orono Community Management Plan, as amended. The City hereby approves the Plat on condition that the