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RES 19-50CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO. 2019-50 RESOLUTION APPROVING DEVELOPERS AGREEMENT- GREAT RVER CENTRE OF OTSEGO SIXTH ADDITION, LOT 1, BLOCK 1 WHEREAS, Lil' Explorers is seeking approval of a Plat known as GREAT RIVER CENTRE OF OTSEGO SIXTH ADDITION, and WHEREAS, the approved Plat requires construction of some public improvements and payment of City costs and fees as well as placing certain restrictions on the development; 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; The attached Developers Agreement between the City of Otsego and Lil' Explorers is hereby approved. 2. The Mayor and City Cleric are hereby authorized to execute the Developers Agreement on behalf of the City of Otsego. ADOPTED this 23rd day of September, 2019 by the City Council of Otsego. MOTION TO ADOPT the Resolution by Council Member Darkenwald and seconded by Council Member Tanner. IN FAVOR: Stockamp, Darkenwald, Tanner, Goede, Warehime OPPOSED: None CITY OF OTSEGO Jessica Stockamp, Mayor E Tami Loff, City Clerk 2