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T <br />(reserved for recording information) <br />DEVELOPMENT AGREEMENT <br />CR Y►STAL BA Y B usimSS CENTER <br />DEVELOPMENT AGREEMENT ("Agreement") dated December 5 , <br />2007, by and between the CITY OF ORONO, a Minnesota municipal corporation ("City"), and <br />RYAN COMPANIES US, INC., a Minnesota Corporation (the "Developer"). <br />DEFINITIONS <br />"Building Permit Approval" means City review and approval of plans for the <br />construction of Improvements for individual Lots. <br />"Commercial Site Plan Approval" means the September 11, 2006 City review and <br />approval of proposed Improvements for each individual Lot within the Plat. <br />"Development" means the construction, remodeling, or replacement of up to 4 <br />structures, each on separate lots within the Plat. <br />"Development Stage Approval" means review and approval of plans and this <br />Agreement by the City prior to construction of the Improvements. <br />iLyxUM21 <br />-1- <br />120 <br />