RES 18-69CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO. 2018-69
RESOLUTION APPROVING DEVELOPERS AGREEMENT- MAGNOLIA
LANDING
WHEREAS, D.R. Horton, Inc.- Minnesota has an approved Plat known as
MAGNOLIA LANDING; and
WHEREAS, the approved Plat requires construction of public improvements,
payment of City costs and fees and escrow and security; and
WHEREAS, those obligations are contained and memorialized in the attached
Developers Agreement; and
WHEREAS, the Developers Agreement also sets forth the security required to
assure satisfactory construction of public improvements and establishes the
various remedies available to the City in the event that Developer breaches the
terms and conditions of the Agreement.
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of
Otsego, Wright County, Minnesota as follows;
1. The attached Developers Agreement between the City of Otsego and D.R.
Horton, Inc.- Minnesota is hereby approved in form, subject to
modification of fees, charges and security as approved by City staff.
2. The Mayor and City Clerk are hereby authorized to execute the final
Developers Agreement on behalf of the City of Otsego.
ADOPTED by the Otsego City Council this 22nd day of October, 2018.
CITY OF OTSEGO
Jessica Stockamp, Mayor
ATTEST:
d��-vy-k .�4�e
Tami Lo , City Clerk
MOTION made by Council Member Warehime and SECONDED by Council Member
Darkenwald.
IN FAVOR: Stockamp, Heidner, Darkenwald, Tanner, Warehime
OPPOSED: None
ON