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B <br />Revised Dran 7/31/01 <br />Revised DraR 9/27/01 <br />CITY OF OKONO <br />IIENNKPIN COUNTY, MINESOTA <br />PLANNED UNIT DEVELOPMENT NO. 2A AGREEMENT FOR <br />ORONO AMBAR OFFICE BUILDING <br />(Name of Development) <br />ORONO AMBAR. LLC.. A MINNESOTA CORPORATION <br />(Name of Dev eloper) <br />THIS AGREEMENT, made and entered into this da> of_, 2001. bv and <br />between the City of Oruno. a municipal corporation organized and existing under the laws of the <br />State of Minnesota (hereinafter called "City"), and Orono Ambor. LLC. a Minnesota Corporation, <br />its heirs, successors and assigns (hereinafter called "Developer"). <br />WITNESSETH: <br />W HEREAS, the IX'veloper has made application to the City Council for approval of a <br />Planned Unit Development rezoning application (PUD) including a comprehensive plan amendment, <br />subdivision to create two buildabic lots, and commercial site plan review, for the purpose of <br />developing a 62-unit Senior Housing residential building and a 25,000 s.f. Professional OfTice <br />building: and <br />WHEREAS, on March 12, 2001 the City Council granted Concept Plan .Approval for <br />development of a 62-unit building for senior housing use (the "Senior Housing Building") and a <br />25,000 s.f. general oftlce building (the "Office Building") per Re.solution No. 46 H/. on the condition <br />that the Developer enter into this agreement to provide for conformance w ith the City's Planned Unit <br />Development (PUD) ordinances, to provide for the installation and maintenance of improvements, <br />and to establish and document the conditions of approval for the Tax Increment Financing (TIF) <br />associated w ith tlic Senior I lousing element of the development. <br />Page I of 14