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reserved for recording information) <br />DEVELOPMENT CONTRACT <br />Developer Installed Improvements) <br />ORONO GARAGE CONDOS LLC <br />PROJECT NO. LA24-000068 <br />THIS AGREEMENT ("Contract") is made as of June 11, 2025, by and between CITY <br />OF ORONO, a Minnesota municipal corporation ("City"); and ORONO GARAGE CONDOS <br />LLC, a Minnesota limited liability company ("Developer"). <br />1.REQUEST FOR CIC PLAT APPROVAL. The Developer has asked the City to <br />approve a CIC plat for ORONO GARAGE CONDOMINIUM (referenced in this Agreement as <br />the "Plat"). The land within the Plat(the "Land") contains 4.88 acres and is proposed to be <br />developed in two or more phases with garage condominium units and common elements. The <br />Land is situated in the City of Orono, County of Hennepin, State of Minnesota, and is legally <br />described on the attached EXHIBIT A ("Subject Property"). <br />2.CONDITIONS OF PLAT APPROVAL. The Plat shall adhere to the purpose <br />and intent of the Orono Community Management Plan, as amended. The City hereby approves <br />the Plat on condition that the Developer enter into this Contract and furnish the security required <br />by it. The Developer must cause the Plat, and each subsequent phase of the Plat, to be duly <br />235929v3