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WHEREAS, the Owner or its predecessors in title executed the Planned Unit <br />Development No. 4 Agreement which set forth terms and conditions for the development of PUD <br />No. 4 which includes Outlets F and G, STONEBAY, providing for the installation of certain public <br />and private improvements, and which agreement documents the general and detailed conditions for <br />use and development of the Property, including the fiiture platting of the Property into Lots, Blocks <br />and Outlets; and <br />WHEREAS, the Owner intends to transfer ownership of the Property and the <br />associated development agreements and obligations to the Developer; and <br />WHEREAS, Outlets F and G, STONEBAY were subsequently replatted which <br />resulted in the creation of OuUot A, STONEBAY SECOND ADDITION and Outlet B, STONEBAY <br />THIRD ADDITION, each of which remains subject to the provisions of PUD No. 4 and Resolution <br />No. 4915; and <br />WHEREAS, the Owner and Developer have completed or have agreed to complete <br />all other 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 as required in <br />Resolution No. 4915. <br />3.Designation and dedication on the plat of wetlands subject to City and other agency <br />jurisdiction, and granting of the standard Flowage and Conservation Easement over <br />said wetlands. <br />4. Submittal of Minnehaha Creek Watershed District (MCWD) permit approving the <br />grading and stormwater management facilities plan for development of the Property. <br />5.Payment to the City of Development Fees as enumerated in Exhibit B of Resolution <br />No. 4915. <br />7.Payment to the City for the legal review and tiling of the plat documents, agreements, <br />easements and covenants in the amount of $280 plus incurred costs. <br />8. Payment of the Final Plat Review Fee in the amount of $250 plus incurred legal, <br />engineering and planning consultant charges. <br />Page 2 of 4 <br />Tm