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WHRRKAS, llie Develo|)cr has agreed to execute the Planned Unit Development No. 4B <br />Agreement which sets forth terms and conditions for the development ofthat element of PUD No. 4 known <br />as tlie Stonebay Lofts which encompasses Outlot E and u portion of Outlet F of STONEBAY; and <br />WHEREAS, the Developer has submitted preliminary plat and final plat drawings fora <br />re-plat of Outlots E and F, STONEBAY, to create a new plat entitled STONEBAY SECOND <br />ADDITION comprised of Lot 1, Block I, for the pur|)osc of construction of the Stonebay Lofts, and <br />Outlot A, for the purpose of future residential development only upon fiuihcr subdivision approval to <br />convert Outlot A to a buildable Lot, as approved in the PUD No. 4 Agreement; and <br />WHEREAS, the Developer has completed or has agreed to complete all other <br />requirements of the platting regulations of the City including: <br />1. Completion of all platting requirements of Preliminary Plat Resolution No. 4915. <br />2. Dedication on the plat of perimeter Drainage and Utility Easements for proposed Lot I, <br />Block I. <br />3. <br />4. <br />8. <br />9. <br />Designation and dedication on the plat of wetlands subject to City and other agency <br />jurisdiction, subject to tlie existing Flowage and Conservation Easement over said wetlands. <br />Submittal of Minnehaha Creek Watershed District (MCWD) pcmiit approving the <br />grading and stonn water management facilities plan for further development oftlie Property. <br />6. Payment to the City of Development Fees as enumerated in Resolution No.___^Granting <br />General Development Plan Approval for Planned Unit Development No. 4B. <br />7. Payment to the City for the legal review and filingof the plat documents, agreements, <br />easements and covenants in the amount of $280.00 plus incurred review and filing costs. <br />Payment of the Final Plat Review Fee in the amount of $250.00 p|u.s inciured legal, <br />engineering and planning consultant charges. <br />Provision to the City of a title opinion for the Property and certified copies of all <br />recorded casements currently aflecting the Property. <br />Page 2 of 5