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*11ill <br />CITY OF ORONO <br />HENNEPIN COUNTY, MINESOTA <br />PLANNED UNIT DEVELOPMENT NO. 4B AGREEMENT <br />AND PUD/DEVELOPMENT CONTRACT <br />STONEBAY LOFTSH’M ■ <br />{1, LOT 1, BLOCK 1, STONEBAY SECOND ADDITION <br />' DEVELOPER: ZB CONSTRUCTION, INC. <br />OWNER: JOHN TERRANCE HOMES, LLC <br />THIS AGREEMENT made and entered into this day of ^ 2005 by and <br />between the CITY OF ORONO, amunicipal corporation organized and existing under the laws of the <br />State of Minnesota (die "City”); ZB CONSTRUCTION, INC, a Minnesota corporation (the <br />"Developed; and JOHN TERRANCE HOMES, LLC, a Minnesota Umited Uabi lity Coiporation (the <br />“Owner'*)* <br />WITNESSETH: <br />WHEREAS, die Developer and Owner have made qiplication to the City for approval of a re-plat <br />of Outlots E and F, STONEBAY, to be known as STONEBAY SECOND ADDITION which shall be <br />ocmqiirisedofLot 1,Block 1 (hereinafter the “Property”), for the purpose of construction of the Stondiay <br />Lofts, and Oudot A, for the purpose of future residential devel' pment, as approved in the Planned Unit <br />Development No. 4 Agiement on file and of record with the City of Ctono; and <br />WHEREAS, die City has approved the re-plat via Resolution No.)tedonApril8, <br />2005 on condition that the Developer enter into this Agreement and Contract and furnish the security <br />required by it <br />NOW, THEREFORE, in conskkratitxi ofthe premises, aid of the actual promises and conditions <br />hereinafter contained, it is hereby agreed as follows: <br />1.Property DcscripCkML This Agreement and PUD/Development Contract shall apply only to the <br />following described property located in Hennqiin County, Minnesota: <br />Lot 1, Block 1, STONEBAY SECOND ADDITION (the “Property”) <br />and <br />Oudot G, STONEBAY ('Outlot G”) <br />AP-1 <br />J