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B. A First Amendment to Development Agreement was never fully executed or
<br />recorded;
<br />C. Lots 1 and 2, Block 1, Crystal Bay Business Center, Hennepin County, Minnesota
<br />were subsequently replatted as Lots 1 and 2, Block 1, Crystal Bay Business Center 2nd Addition,
<br />Hennepin County, Minnesota;
<br />D. On December 221, 2011, Developer conveyed to Pine Corner, Lot 2, Block 1,
<br />Crystal Bay Business Center 2nd Addition, Hennepin County, Minnesota, according to the
<br />recorded plat thereof, pursuant to a Limited Warranty Deed recorded December 30, 2011 with
<br />the Office of the Registrar of Titles for Hennepin County, Minnesota, as Document No.
<br />T4914554;
<br />E. On May 30, 2012, Developer conveyed to Pine Corner, Lot 1, Block 1, Crystal
<br />Bay Business Center 2'd Addition, Hennepin County, Minnesota, according to the recorded plat
<br />thereof, pursuant to a Limited Warranty Deed recorded June 5, 2012 with the Office of the
<br />Registrar of Titles for Hennepin County, Minnesota, as Document No. T4960953 and recorded
<br />June 5, 2012 with the Office of the County Recorder for Hennepin County, Minnesota, as
<br />Document No. A9797647;
<br />F. On March 29, 2012, Developer conveyed to Orono Mini Storage a portion of the
<br />property within the development legally described as Lot 3, Block 2, Crystal Bay Business
<br />Center, according to the recorded plat thereof, Hennepin County, Minnesota, pursuant to a
<br />Limited Warranty Deed recorded April 2, 2012 with the Office of the Registrar of Titles for
<br />Hennepin County, Minnesota as Document No. T4941005;
<br />G. The Developer, Pine Corner and Orono Mini Storage have requested that the City
<br />undertake the construction, installation and maintenance of a public trail proposed under the
<br />terms of the Development Agreement and the City is willing to assume the obligation. Pine
<br />Corner and Orono Mini Storage shall provide to the City a 10 foot trail easement pursuant to the
<br />terms of this Contract and the approved Easements;
<br />H. Pine Corner has agreed to share in certain costs of the construction of Orono
<br />Industrial Boulevard abutting Lot 1, Block 1 Crystal Bay Business Center 2nd Addition, Lot 1,
<br />Block Crystal Bay Business Center and Lot 3, Block 2 Crystal Bay Business Center, and to
<br />provide a portion of the security therefor required by the City.
<br />NOW, THEREFORE, in consideration of the covenants and undertakings contained
<br />herein and for other good and valuable consideration, the receipt and sufficiency of which is
<br />hereby acknowledged, the parties agree as follows:
<br />1. AMENDMENT OF PARAGRAPH 7A OF THE DEVELOPMENT
<br />AGREEMENT. Paragraph 7A of the Development Agreement is hereby amended to provide
<br />that Developer and Pine Corner shall be responsible for installation and payment of all costs for
<br />Orono Industrial Boulevard based on the following pro -rations: (i) Developer at 75% and (ii)
<br />Pine Corner at 25%. Orono Mini Storage shall not be responsible for costs associated with the
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