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5.1 Parrish Meadows ll Request for 0 �e City Council Action M�'gNEµOT.� g DEPARTMENT INFORMATION ORIGINATING G DEPARTMENT , REE! ESTOR; � MPETII G DATE Planning City Planner Licht 9 August 2021 PEEStNTER(s) REUIEWtD BY: , ITEM# City Planner Licht City Administrator/Finance Director Flaherty 5.1 Parrish Meadows City Engineer Wagner City Attorney Kendall STRATEGIC VISION MtETS: THE CITY OF OTSEGO: Is a strong organization that is committed to leading the community through innovative communication. Has proactively expanded infrastructure to responsibly provide core services. Is committed to delivery of quality emergency service responsive to community needs and expectations in a cost-effective manner. X Is a social community with diverse housing, service options, and employment opportunities. Is a distinctive, connected community known for its beauty and natural surroundings. AGENDA ITEM DETAILS RECOMMENDATION: City staff recommends approval of a vacation of existing drainage and utility easements, final plat, and development agreement. ARE YOU SEEKING APPROVAL OF A CO TRACT? IS A PU3 UC HEARING,REOUIRED? Yes Yes, held by Planning Commission on 3 May 2021 BACKGRC UND/JUSTIFICATION: Tamarack Land—Parrish Meadows, LLC has submitted application for final plat approval to develop 93 townhouse dwellings, two single family lots, and two commercial lots on 24.31 acres located northwest of Parrish Avenue (CSAH 42) and 851"Street. The City Council approved a preliminary plat for the proposed development at their meeting on 10 May 2021. Final plat applications are processed in accordance with Section 10-3-3 of the Subdivision Ordinance and do not require a recommendation by the Planning Commission. Comprehensive Plan. The Comprehensive Plan guides the east portion of the property adjacent to Parrish Avenue (CSAH 42) for commercial development and low density residential development on the west portion of the subject site to transition to existing single family neighborhoods further to the west. The proposed row and quad townhouse dwellings with an open transition area to the Country Ridge subdivision to the west provides opportunity for housing other than single family and market support for surrounding commercial development. The type and arrangement of the commercial and residential land uses within the final plat is consistent with the 2012 Comprehensive Plan. Zoning. The residential portion of the final plat is zoned R-6, Residential Medium Density District, which allows row or quad townhouses and single family dwellings as a permitted use. The two commercial lots are zoned B-3 District. Future development of the commercial lots will be subject to zoning approvals including site and building plan review. Surrounding Uses. The subject site is surrounded by the following existing and/or planned land uses shown in the table below. The preliminary plat provides the desired arrangement of row and quad townhouse residential uses as a transition between the Parrish Avenue (CSAH 42)commercial corridor and existing neighborhoods to the west and will be compatible with the existing and planned land uses in the area. Direction Land Use Plan Zoning Map Existing Land Use North LID Residential A-1 District Rural single family dwelling Commercial R-7 District Multiple family(Parkview Grand) B-3 District Future commercial (Parkview Retail) East Commercial PUD District Great River Centre of Otsego South MHD Residential R-6 District Row townhomes(Stonegate Estates) Urban single family lots(Stonegate Estates) West LID Residential R-3 District Rural single family lots(Country Ridge) Institutional INS District Future City fire station Preliminary Plat Consistency. The subdivision site design including the number of townhouse unit lots single family lots, and commercial lots is consistent with the preliminary plat approved by the City Council. Single Family Lot Requirements. Single family lots within the R-6 District are to be a minimum of 9,000 square feet in area and 60 feet in width, which Lots 1 and 2, Block 27 comply with. Lots abutting properties zoned R-3 District are further required to be a minimum of 18,000 square feet in area and 100 feet in width to provide for a land use transition. The PUD-CUP approved with the preliminary plat allowed flexibility to average the transition lot area and width requirements for the two lots. Townhouse Lot Requirements. Townhouse dwellings within the R-6 District are required to provide a minimum of 5,000 square feet in lot area per dwelling unit. The area of the townhouses is 470,890 square feet thus the 93 townhouse dwellings have 5,063 square feet of lot area per dwelling unit, which exceeds the requirements of the Zoning Ordinance. The R-6 District and PUD-CUP establishes minimum setbacks that apply to the townhouse buildings as shown in the table below: Setbacks Public Private Drive Between Rear Wetland ROW Buildings 25ft.dwelling 25ft.dwelling 14ft. 20ft. 40ft. 30ft.garage 30ft.garage Commercial Lot Requirements.The preliminary plat includes two commercial lots abutting Parrish Avenue (CSAH 42) on either side of 871" Street. The lot requirements of the B-3 District are shown in the table below and both the proposed lots comply with these requirements: Min. Min. Lot Area Lot Width 1.0ac. 200ft. Landscaping. The developer provided a landscape plan with the preliminary plat as required by Section 11- 19-2 of the Zoning Ordinance. The landscaping as shown on the approved landscape plan to be completed as each townhouse building is completed or single family lot built upon. The landscaping shown on the commercial lots shall be installed upon approval of the final plat. The development contract is to include a security for the installation of the plantings shown on the approved landscape plan. Access. The subject site abuts Parrish Avenue (CSAH 42). There is also an existing segment of 87t"Street to the west line of the subject site. Parkview Avenue is connected at the north line of the subject site from the Parkview Retail development. Parrish Avenue (CSAH 42) is designated as minor arterial street by the Transportation Plan. The final plat provides for dedication of 15 feet of right-of-way for Parrish Avenue (CSAH 42), which is subject to review and approval of Wright County. The developer will be required to provide for reprograming of the traffic signal at 87t"Street and Parrish Avenue (CSAH 42) and installation of east/west pedestrian crossing signals, crosswalk striping, and pedestrian ramps. Streets. The developer will construct the west leg of 87t" Street between Parkview Avenue and Parrish Avenue (CSAH 42)to mirror the east leg of the roadway with through and right/left turn lanes. Parkview Avenue within the subject site is to be constructed as a commercial roadway. The proposed right-of-way is to be 80 feet wide with a 46 foot wide street. Park Avenue/87t"Street and Street 1 are to be constructed as local streets having a 60 foot wide right-of-way, 28 foot wide street. The proposed street sections are consistent with the provisions of Section 10-8-5.B.1 of the Subdivision Ordinance and Engineering Manual. Sidewalk/Trails. The submitted plans provide for a 5 foot wide sidewalk on both the north and south side of the 87t"Street and Parkview Avenue. A sidewalk is to be provided on both sides of Parkview Avenue. Park Avenue/87t" Street and Street 1 are to be constructed with a five foot wide sidewalk on one side. The proposed sidewalks comply Section 10-8-5.D.2.b of the Subdivision Ordinance. The submitted plans provide for construction of a 10 foot wide asphalt trail along Parrish Avenue (CSAH 42). The developer will be asked to construct the trail from the north line of the subject site to 87t"Street and be reimbursed for these costs. The trail will provide for the planned connection between 87t"Street and 88t" Street. The trail abutting Lot 1, Block 31 and Outlot A will be graded, but construction deferred until the full connection between 85t" Street and 87t"Street can be made. Private Drives. Streets 2, 3, and 4 shown on the final plat are to be private drives. The private drives are to be 28 feet in width. There is a five foot wide sidewalk,which is to be overlaid by a public sidewalk easement, on the north side of Street 4 to provide a pedestrian connection between Park Avenue and Parkview Avenue. Street Names. Names for Street 1 and the private drives are to be designated in accordance with the Wright County grid system and are to be subject to review and approval of City staff. Street Lighting. Section 8-8-4 and Section 8-4-5 of the City Code outline street light requirements for the proposed final plat. High mounted cobra style lights are to be required at Parkview Avenue and 87t"Street. Low scale light fixtures are required at local street intersections within the residential portion of the preliminary plat and at the midpoint of blocks longer than 900 feet. For Parkview Avenue and 87t"Street between Parrish Avenue (CSAH 42) and Parkview Avenue abutting the commercial lots, decorative low scale fixtures are required to be installed every 150 feet along the sides of each street. The developer is responsible for the cost of installation for all light fixtures and two years of operational costs at the time of final plat approval as provided for in the development contract. Street Signs. The developer is responsible for the cost of materials and installation for street signs within the final plat. The number of street signs required for the development will be determined by the City Engineer and a fee to be paid by the developer included in the development agreement. Park and Trail Dedication. The Future Parks and Trails System Plan included in the 2012 Comprehensive Plan does not identify acquisition of park land from the subject site. School Knoll Park and Otsego Elementary are located to the south of 85t"Street, which provides for a neighborhood park serving this final plat. Park dedication requirements of Section 10-8-15 of the Subdivision Ordinance are to be satisfied as a cash fee in lieu of land to be paid at the time of final plat approval as provided for in the development contract. Grading Plan. The developer has submitted grading and drainage plans for the proposed final plat. Section 10-8-12.D of the Subdivision Ordinance requires storm water basins to be platted within outlots deeded to the City for long-term maintenance,which are shown as Outlots A and B on the final plat. All grading, drainage, erosion control issues are subject to review and approval by the City Engineer. There is no stormwater impact fee for this plat. Utility Plan. The developer has submitted utility plans for extension of sanitary sewer and water utilities to serve the proposed final plat. All utility plans are subject to review and approval of the City Engineer. The developer will be required to pay the Sewer and Water Availability Charges based on the number of residential dwelling units and area of the two commercial lots with the final plat as provided for in the development contract. Sewer and Water Connection Charges are to be paid at the time a building permit is issued. Easements. Drainage and utility easements are to be shown to be dedicated over all of all of the townhouse base outlots and private drive outlots. There is a dedication of drainage and utility easements the perimeter of single family and commercial lots shown on the final plat. The public hearing to consider the preliminary plat included vacation of all existing right-of-way easements and drainage and utility easements within the subject site. These existing easements no longer serve a public purposed upon final platting of the subject site and reestablishment right-of-way or drainage and utility easements in accordance with the Subdivision Ordinance. All drainage and utility easements are subject to review and approval of the City Engineer. Outlots. The table below outlines the purpose and ownership of the 31 outlots shown on the proposed final plat: Outlot Purpose Ownership A, B Stormwater basin Deed to City C, D, E, F, G, H, I,J, K, M, N O, P, Q, R, S, Townhouse base lot HOA T, U, V,W, X,Y, Z, AA, BB, CC, DID, E E L Private drive HOA Development Contract. The City Attorney has prepared a development contract related to a final plat for the proposed development to provide for construction of the project including completion of all public improvements in accordance with Section 10-10-4.A of the Subdivision Ordinance. The development contract will also provide for payment of all required fees and posting of securities as required by Section 10-10-5 of the Subdivision Ordinance. Homeowners Association. The developer(or builder) must submit documents establishing a homeowner's association for the townhouse portion of the development. The homeowner's association is to be responsible for maintenance and ownership of the outlots for the townhome base lots and outlot encompassing the private driveways. The homeowner's association documents are to be subject to review and approval of City staff. Recording. Section 10-5-3.13.8 of the Subdivision Ordinance requires that the final plat (and development contract) be recorded within 100 days of City Council approval. SUPPORTING WCUMNTS ATTACHED! ■ Final Plat ■ Wright County Highway letter dated July 23,2021 ■ Resolution 2021-62 vacating existing easements ■ Findings of Fact and Decision ■ Resolution 2021-63 approving a development contract ■ Development Contract POSSIBLE MOTION PLEASE WORD MOTION AS YOU WOULD LIKC IT TO APPEAR Ifs THE MINUTES: Motion to adopt resolution 2021-62 vacating existing drainage and utility easements; approve the final plat of Parrish Meadows subject to the conditions stated by the Findings of Fact and Decision as presented; and, adopt Resolution 2021-63 approving a Development Contract. BUDGET INFORMATION I UI DII BUDGETE€?:' N/A N/A 4T CI N w 'III a o E I o — III E E —I II 'III 3 II � II II Q I II II Z N K K J UN II Z V Z I Z V II II 5W fig Apra a 110 NEI r ram' o _ - - F - ry EJ = 09 in a o rEr ' ' 3£ III out of a °N ply! 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W ��°� 8 e 8 o z uazf�Xa 9- fr,raa aag5 Ms£roDx aatar u`aa c i o $ vs arkroav 8 8 75 8 '-6 vs aocc 'z x Nwm � � mq �o L` � g� g w o F 88 88 � s Mszw.av f/ ma's $ � � w mtt afaroox w •1 Ms£ro.ax s z 0 7 - 8 ino — `"°sMz, Hip 5 / 8 / z MmBr � 1 �sP�rz 0p6 EI I A ____ PE i g I I I I I • i s s s --��---- ,,,_ w3N35v33Nn No,555M5Nvaa / JNT v 4'0 _ M Uj July 23,2021 ' O d� �y 7E355 Adam Flaherty Otsego City Administrator 13400—90th Street NE Wright County Otsego, MN 55330 Highway Department 3600 Braddock Ave NE Buffalo,MN 55313 RE: Plat Review for Parrish Meadow, CSAH 42 Ph: (763)682-7383 Plat No. 21.13 Fax: (763)682-7313 VIRGIL HAWKINS,P.E. Dear Mr. Flaherty, Highway Engineer We have received the Applications for Preliminary Plat Review for the proposed Parrish Meadows housing development on CSAH 42. Wright County may have additional comments CHAD HAUghway P.E. prior to signing the plat and as the ro,ect progresses to the permitting and construction phase. Assistant Highway Engr. p g g p p l p g p g SIEVE MEYER 1) Seventy-five(75) feet of right of way shall be dedicated as part of the plat. Maintenance Superintendent 2) A right of way/access permit will be required. The permit will require the existing Agent P.L.S. shoulder to be repurposed as a southbound right turn lane. Final construction plans will be Right-of-Way Age JEREMY CARL reviewed as part of the permit. SARA BUERMANN,P.E. 3) ADA improvements will be required for any proposed marked crossings of the Traffic Engineer intersection of CSAH 42-87th St.NE,i.e.ADA complaint ramps,truncated domes,push buttons,countdown timers, etc. Final construction plans will be reviewed as part of the permit. 4) The proposed development drainage must not exceed existing drainage rates(i.e.,the rate at which storm water is discharged from the site must not increase)into the County right- of-way. The City or project developer will need to verify that all existing drainage patters and system affecting Wright County Highway right-of-way will be perpetuated. Please contact us at 763-682-7383 if you have any questions or need further clarification. Sincerely, Sara Buermann,PE Traffic Engineer Cc: Virgil Hawkins, County Engineer Chad Hausmann,Assistant County Engineer Adam Backes, County Permit Technician D. Daniel Licht, Otsego City Planner Diane Hamilton,Tamarack Land Dale Willenbring,Tamarack Land Steve Jobe, County Surveyor Eric Stennes,Assistant County Surveyor An Equal Opportunity Employer CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO: 2021-62 APPROVING VACATION OF EXISTING DRAINAGE AND UTILITY EASEMENTS WITHIN THE PLAT OF PARRISH MEADOWS WHEREAS,Tamarack Land—Parrish Meadows, LLC (the "developer") has initiated vacation of all those existing drainage and utility easements dedicated over the property legally by Exhibit A; and, WHEREAS,the developer is proposing a final plat of the property described by Exhibit A that will provide for dedication of right-of-way and drainage and utility easements as required by the Subdivision Ordinance; and, WHEREAS,the City Engineer has reviewed request and determined that the existing drainage and utility easements are unnecessary for public purposes; and, WHEREAS,the Planning Commission held a public hearing at their meeting on 3 May 2021 to consider the vacation, preceded by required published and mailed legal notice; and, WHEREAS,the Planning Commission heard all parties interested therein and closed the public hearing and recommended that the City Council approve the requested vacation; and, WHEREAS,the City Council having considered all information received finds that the existing drainage and utility easements serve no useful public purpose and vacating the existing drainage and utility easements would be in the public interest; and, NOW,THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA: 1. That the existing drainage and utility easements dedicated are hereby vacated upon the recording of a final plat for Parrish Meadows. 2. The City Council hereby determines that the vacation of said existing right-of-way and drainage and utility easements shall cause no damage to any abutting or nearby property owners and therefore no damages are awarded to any such property owners. 1 ADOPTED by the Otsego City Council this 9th day of August, 2021. MOTION BY: SECONDED BY: IN FAVOR: OPPOSED: CITY OF OTSEGO Jessica L. Stockamp, Mayor ATTEST: Audra Etzel, City Clerk 2 EXHIBIT A PROPERTY LEGAL DESCRIPTION All that part of the Southwest Quarter of the Northeast Quarter of Section 22, Township 121, Range 23, except the South 40 feet thereof; and also except that part platted as Otsego Fire Station No. 1 East Addition, Wright County, Minnesota, lying northerly of the following described line: Commencing at the northeast corner of said Southwest Quarter of the Northeast Quarter;thence South 0 degrees 17 minutes 07 seconds East, along the east line of said Southwest Quarter of the Northeast Quarter, a distance of 719.31 feet to the point of beginning of the line to be described; thence North 89 degrees 51 minutes 32 seconds West a distance of 496.99 feet;thence southerly 94.57 feet along a non-tangential curve concave to the west having a radius of 814.74 feet with chord bearing South 02 degrees 21 minutes 47 seconds East and chord length of 94.52 feet; thence South 89 degrees 55 minutes 05 seconds West and distance of 585.31 feet; thence southerly 31.22 feet along a non-tangential curve concave to the west having a radius of 205.00 feet with chord bearing South 04 degrees 13 minutes 07 seconds East and chord length of 31.19 feet; thence South 0 degrees 08 minutes 39 seconds West a distance of 32.41 feet; thence South 89 degrees 55 minutes 09 seconds West a distance of 30.54 feet to the northeast corner of OTSEGO FIRE SUBSTATION NO. 1 EAST ADDITION, according to the recorded plat thereof, Wright County, Minnesota; thence westerly along the north line of said plat to the west line of said Southwest Quarter of the Northeast Quarter and there terminating. Containing 24.231 acres of land, more or less. 3 % 5 Aug 21 Ujf� TY OF t.�..7 FINDINGS& DECISION MCNNESO-l° g Preliminary Plat/PUD-CUP APPLICANT: Tamarack Land—Parrish Meadows, LLC APPLICATION: Request for approval of a final plat to be known as Parrish Meadows. CITY COUNCIL MEETING: 9 August 2021 FINDINGS: Based upon review of the application and evidence received, the Otsego City Council now makes the following findings of fact: A. The legal description of the property is attached as Exhibit A. B. The property lies within the East Sewer District and is guided low density residential and commercial land uses by the 2012 Otsego Comprehensive Plan, as amended. C. The property is zoned R-6, Residential Medium Density District and B-3, General Business District. D. The applicant is proposing a final plat to be known as Parrish Meadows consisting of two single family lots, 93 townhouse dwellings, and two commercial lots. E. A preliminary plat and PUD-CUP was approved for the subject site by the City Council on 10 May 2021. F. The Request for Council Action 9 August 2021 prepared by the City Planner, The Planning Company LLC, is incorporated herein. G. Final plat applications are processed in accordance with Section 10-3-3 of the Subdivision Ordinance and do not require a recommendation by the Planning Commission. DECISION: Based on the foregoing information and applicable ordinances, the request is hereby APPROVED, subject to the following conditions: 1. The developer shall execute a Development Contract as drafted by the City Attorney and subject to approval of the City Council at the time of final plat approval. 2. The townhouse site and buildings shall be developed in accordance with the plans and information on file with the City subject to stipulations of approval of the preliminary plat and PUD-CUP in accordance with Section 11-9-4 of the Zoning Ordinance. 3. Right-of-way dedication for Parrish Avenue (CSAH 42) shall be subject to review and approval of Wright County. 4. All street right-of-way, design, and construction plans, private drives, street names, and street lighting shall be subject to review and approval of the City Engineer. 1 5. The developer shall grade for construction of a 10 foot wide asphalt trail along Parrish Avenue (CSAH 42) and escrow funds as determined by the City Engineer to be used by the City for future construction of the trail. 6. The sidewalk on Street 4 shall be overlaid by a public sidewalk easement between Park Avenue and Parkview Avenue. 7. The landscape plan approved with the preliminary plat shall be installed as each townhouse building is complete and upon the commercial lots, subject to security as provided by the Development Contract. 8. Park dedication requirements shall be satisfied as a cash fee in lieu of land to be paid at the time of final plat approval in accordance with the fee schedule then in effect. 9. All grading, drainage, and erosion control plans shall be subject to review and approval of the City Engineer. 10. Outlots A and B shall be deeded to the City for storm water management purposes. 11. All utility plans shall be subject to review and approval of the City Engineer. 12. The developer shall pay utility availability charges for the final plat as provided for by the Development Contract. 13. OutlotsC, D, E, F, G, H, I,J, K, M, NO, P, Q, R, S,T, U,V, W, X, Y, Z, AA, BB, CC, DID, and EE shall be overlaid by drainage and utility easements and deeded to a homeowners association. 14. All drainage and utility easements shall be subject to review and approval of the City Engineer. 15. Documents establishing a Homeowners Association shall be submitted and are to be subject to review and approval of City staff prior to recording the final plat. 16. The final plat shall be recorded within 100 days of City Council approval as required by Section 10-5- 3.13.8 of the Subdivision Ordinance. 2 ADOPTED by the Otsego City Council this 9th day of August, 2021. MOTION BY: SECONDED BY: IN FAVOR: OPPOSED: CITY OF OTSEGO Jessica L. Stockamp, Mayor ATTEST: Audra Etzel, City Clerk 3 EXHIBIT A PROPERTY LEGAL DESCRIPTION All that part of the Southwest Quarter of the Northeast Quarter of Section 22,Township 121, Range 23, except the South 40 feet thereof, and also except that part platted as Otsego Fire Station No. 1 East Addition,Wright County, Minnesota, lying northerly of the following described line: Commencing at the northeast corner of said Southwest Quarter of the Northeast Quarter; thence South 0 degrees 17 minutes 07 seconds East, along the east line of said Southwest Quarter of the Northeast Quarter, a distance of 719.31 feet to the point of beginning of the line to be described; thence North 89 degrees 51 minutes 32 seconds West a distance of 496.99 feet;thence southerly 94.57 feet along a non-tangential curve concave to the west having a radius of 814.74 feet with chord bearing South 02 degrees 21 minutes 47 seconds East and chord length of 94.52 feet;thence South 89 degrees 55 minutes 05 seconds West and distance of 585.31 feet; thence southerly 31.22 feet along a non- tangential curve concave to the west having a radius of 205.00 feet with chord bearing South 04 degrees 13 minutes 07 seconds East and chord length of 31.19 feet;thence South 0 degrees 08 minutes 39 seconds West a distance of 32.41 feet; thence South 89 degrees 55 minutes 09 seconds West a distance of 30.54 feet to the northeast corner of OTSEGO FIRE SUBSTATION NO. 1 EAST ADDITION, according to the recorded plat thereof, Wright County, Minnesota; thence westerly along the north line of said plat to the west line of said Southwest Quarter of the Northeast Quarter and there terminating. Containing 24.231 acres of land, more or less. 4 CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO: 2021-63 APPROVING A DEVELOPMENT CONTRACT FOR PARRISH MEADOWS WHEREAS,Tamarack Land — Parrish Meadows, LLC (the "developer") is proposing development of Parrish Meadows; and WHEREAS,a final plat for the development was approved on 9 August 2021 by the City Council;and WHEREAS, Section 10-10-4.A of the Subdivision Ordinance requires the developer to enter into a development contract to provide the City construction and warranty securities for the public and private improvements and to provide the City various remedies in the event that the developer breaches the terms and conditions of said contract; and WHEREAS,those obligations are outlined and memorialized in the attached Development Contract. NOW,THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO,MINNESOTA THAT: 1. The Development Contract attached hereto between the City of Otsego and Tamarack Land—Parrish Meadows, LLC is hereby approved in form subject to modification of fees, charges, and securities as approved by City staff. 2. The Mayor and City Clerk are hereby authorized to execute the Development Contract on behalf of the City of Otsego. 1 ADOPTED by the Otsego City Council this 91"day of August, 2021. MOTION BY: SECONDED BY: IN FAVOR: OPPOSED: CITY OF OTSEGO Jessica L. Stockamp, Mayor ATTEST: Audra Etzel, City Clerk 2 (reserved for recording information) DEVELOPMENT CONTRACT AND PLANNED UNIT DEVELOPMENT AGREEMENT PARRISH MEADOWS CONTRACT dated , 20217 by and between the CITY OF OTSEGO, a Minnesota municipal corporation ("City"), and TAMARACK LAND — PARRISH MEADOWS, LLC, a Minnesota limited liability company (the "Developer'). 1. REQUEST FOR PLAT APPROVAL. The Developer has asked the City to approve a plat for PARRISH MEADOWS (referred to in this Contract as the "plat"). The land is situated in the County of Wright, State of Minnesota, and is legally described on Exhibit A attached hereto and made a part hereof: 2. CONDITIONS OF PLAT APPROVAL. The City hereby approves the plat on condition that the Developer enter into this Contract, furnish the security required by it, and record the plat with the County Recorder or Registrar of Titles within 100 days after the City Council approves the final plat. 3. RIGHT TO PROCEED. Within the plat or land to be platted, the Developer may not grade or otherwise disturb the earth or remove trees, unless a grading permit has been approved by the City Engineer following approval of a preliminary plat by the City Council, construct sewer lines, water lines, streets, utilities, public or private improvements, or any buildings until all the following conditions have been satisfied: 1) this contract has been fully executed by both parties and filed with the City Clerk, 2) the 1 Parrish Meadows 2166445 necessary security has been received by the City, 3) the necessary insurance for the Developer and its construction contractors has been received by the City, and 4) the plat has been filed with the Wright County Recorder or Registrar of Titles' office. 4. PHASED DEVELOPMENT. If the plat is a phase of a multi-phased preliminary plat, the City may refuse to approve final plats of subsequent phases if the Developer has breached this Contract and the breach has not been remedied. Development of subsequent phases may not proceed until Development Contracts for such phases are approved by the City. Park dedication charges referred to in this Contract are not being imposed on outlots, if any, in the plat that are designated in an approved preliminary plat for future subdivision into lots and blocks. Such charges will be calculated and imposed when the outlots are final platted into lots and blocks. 5. PRELIMINARY PLAT STATUS. If the plat is a phase of a multi-phased preliminary plat, the preliminary plat approval for all phases not final platted shall lapse and be void unless final platted into lots and blocks and outlots, within two (2) years after preliminary plat approval. 6. CHANGES IN OFFICIAL CONTROLS. For five (5) years from the date of this Contract, no amendments to the City's Comprehensive Plan or official controls shall apply to or affect the use, development density, lot size, lot layout or dedications of the approved plat unless required by state or federal law or agreed to in writing by the City and the Developer. Thereafter, notwithstanding anything in this Contract to the contrary, to the full extent permitted by state law, the City may require compliance with any amendments to the City's Comprehensive Plan, official controls, platting or dedication requirements enacted after the date of this Contract. 7. DEVELOPMENT PLANS. The plat shall be developed in accordance with the following plans. The plans shall not be attached to this Contract. The plans may be prepared, subject to the City Engineer's approval, after entering the Contract, but before commencement of any work in the plat. The City Engineer may approve minor amendments to Plans without City Council approval. If the plans vary from the written terms of this Contract, the written terms shall control. The plans are: 2 Parrish Meadows 2166445 Plan A - Plat Plan B - Final Grading, Drainage, and Erosion Control Plan Plan D - Plans and Specifications for Public Improvements Plan E - Street Lighting Plan Plan F - Landscape Plan 8. IMPROVEMENTS. The Developer shall install and pay for the following: A. Sanitary Sewer System B. Water System C. Storm Sewer System D. Streets E. Concrete Curb and Gutter F. Street Lights G. Site Grading, Stormwater Treatment/Infiltration Basins, and Erosion Control H. Underground Utilities I. Setting of Iron Monuments J. Surveying and Staking K. Sidewalks and Trails L. Retaining Walls M. Landscaping The improvements shall be installed in accordance with the City subdivision ordinance; City standard specifications for utility and street construction; and any other ordinances including Chapter 6 of the City Code concerning erosion and sediment control. The Developer shall submit plans and specifications which have been prepared by a competent Minnesota registered professional engineer to the City for approval by the City Engineer. The Developer shall instruct its engineer to provide adequate field inspection personnel to assure an acceptable level of quality control to the extent that the Developer's engineer will be able to certify that the construction work meets the approved City standards as a condition 3 Parrish Meadows 2166445 of City acceptance. In addition, the City may, at the City's discretion and at the Developer's expense, have one or more City inspectors and a soil engineer inspect the work on a full or part-time basis. The Developer, its contractors and subcontractors, shall follow all instructions received from the City's inspectors. The Developer's engineer shall provide for on-site project management. The Developer's engineer is responsible for design changes and contract administration between the Developer and the Developer's contractor. The Developer or its engineer shall schedule a pre-construction meeting at a mutually agreeable time at the City with all parties concerned, including the City staff, to review the program for the construction work. Within thirty (30) days after the completion of the improvements and before the security is released, the Developer shall supply the City with a complete set of reproducible "as- constructed" plans and an electronic file of the "as-constructed" plans in an AutoCAD .DWG file or a .DXF file, all prepared in accordance with City standards. In accordance with Minnesota Statutes 505.021, the final placement of iron monuments for all lot corners must be completed before the applicable security is released. The Developer's surveyor shall also submit a written notice to the City certifying that the monuments have been installed following site grading, utility and street construction. 9. CONTRACTORS/SUBCONTRACTORS. City Council members, City employees, and City Planning Commission members, and corporations, partnerships, and other entities in which such individuals have greater than a 25% ownership interest or in which they are an officer or director may not act as contractors or subcontractors for the public improvements identified in Paragraph 8 above. 10. PERMITS. The Developer shall obtain or require its contractors and subcontractors to obtain all necessary permits, which may include: A. Wright County for County Road Access and Work in County Rights-of-Way B. MnDot for State Highway Access C. MnDot for Work in Right-of-Way D. Minnesota Department of Health for Watermains E. MPCA NPDES Permit for Construction Activity F. MPCA for Sanitary Sewer and Hazardous Material Removal and Disposal G. DNR for Dewatering 4 Parrish Meadows 2166445 H. City of Otsego for Building Permits, Retaining Walls, Irrigation I. MDH for water permits J. MPCA for sewer extension 11. DEWATERING. Due to the variable nature of groundwater levels and stormwater flows, it will be the Developer's and the Developer's contractors and subcontractors responsibility to satisfy themselves with regard to the elevation of groundwater in the area and the level of effort needed to perform dewatering and storm flow routing operations. All dewatering shall be in accordance with all applicable county, state, and federal rules and regulations. DNR regulations regarding appropriations permits shall also be strictly followed. 12. TIME OF PERFORMANCE. The Developer shall install all required public improvements by November 30, 2021. 13. STREETS. The Developer shall construct the public streets within the Plat in accordance with Plan D. The Developer agrees to maintain the streets within the Plat until the base course bituminous surfacing has been accepted by the City. Should the City be required to grade the street prior to paving, the cost of such grading shall be paid by the Developer and draw from the Developer's letter of credit. Should the City determine that snowplowing is necessary prior to street paving, the City will plow the street(s) prior to acceptance of the streets. The Developer shall hold harmless and indemnify the City from any and all liability related to this snow plowing and shall pay all costs associated with this snow plowing. Any plowing undertaken by the City shall constitute no acceptance or evidence of acceptance of the street(s) in question. The final wear course shall not be constructed until at least one construction season after the base construction is completed and shall be delayed one more construction season if at least 75% build out is not achieved. However, the final wear course shall not be delayed for a period longer than two years after the base course is paved, regardless of build out; in which case, the Developer shall provide an escrow for fog sealing the streets in the event the final wear course is placed prior to 75% build out. Upon final completion of streets and acceptance by the City as a City street rather than a private drive, the Developer shall 5 Parrish Meadows 2166445 guarantee to the City for a period of two (2) years the streets have been constructed to City standards. The warranty period shall not commence until such time as street construction is completed and the streets are accepted as City streets by the City. The two (2) year warranty period set forth above commences upon the date on which the City accepts the streets by resolution. 14. LICENSE. The Developer hereby grants the City, its agents, employees, officers and contractors a license to enter the plat to perform all work and inspections deemed appropriate by the City in conjunction with plat development. 15. EROSION CONTROL. Prior to initiating site grading, the erosion control plan, Plan B, shall be implemented by the Developer and inspected and approved by the City. The City may impose additional erosion control requirements if they would be beneficial. All areas disturbed by the grading operations shall be stabilized per the MPCA Stormwater Permit for Construction Activity. Seed shall be in accordance with the City's current seeding specification which may include temporary seed to provide ground cover as rapidly as possible. All seeded areas shall be fertilized, mulched, and disc anchored as necessary for seed retention. The parties recognize that time is of the essence in controlling erosion. If the Developer does not comply with the MPCA Stormwater Permit for Construction Activity or with the erosion control plan and schedule or supplementary instructions received from the City, the City may take such action as it deems appropriate to control erosion. The City will endeavor to notify the Developer in advance of any proposed action, but failure of the City to do so will not affect the Developer's and City's rights or obligations hereunder. If the Developer does not reimburse the City for any cost the City incurred for such work within ten (10) days, the City may draw down the letter of credit to pay any costs. No development, utility or street construction will be allowed and no building permits and certificates of occupancy will be issued unless the plat is in full compliance with the approved erosion control plan. 16. GRADING. The plat shall be graded in accordance with the approved grading development and erosion control plan, Plan "B". The plan shall conform to City of Otsego specifications. Within thirty (30) days after completion of the grading and before the City approves individual building permits (except three (3) model home permits on lots acceptable to the Building Official), the Developer shall provide the 6 Parrish Meadows 2166445 City with an "as-constructed" grading plan certified by a registered land surveyor or engineer that all storm water treatment/infiltration basins and swales, have been constructed on public easements or land owned by the City. The "as-constructed" plan shall include field verified elevations of the following: a) cross sections of storm water treatment/infiltration basins; b) location and elevations along all swales, wetlands, wetland mitigation areas if any, locations and dimensions of borrow areas/stockpiles, and installed "conservation area" posts; and c) lot corner elevations and house pads, and all other items listed in City Code. The City will withhold issuance of building permits and certificates of occupancy until the approved certified grading plan is on file with the City and all erosion control measures are in place as determined by the City Engineer. The Developer certifies to the City that all lots with house footings and building pads placed on fill have been monitored and constructed to meet or exceed FHA/HUD 79G specifications. The soils observation and testing report, including referenced development phases and lot descriptions, shall be submitted to the Building Official for review prior to the issuance of building permits and certificates of occupancy. Before a building permit and certificate of occupancy is issued, a cash escrow shall be furnished to the City in accordance with the City's current fee schedule to guarantee compliance with the erosion control and grading requirements and the submittal of an as-built certificate of survey and "as constructed" grading plan. Prior to the release of the required individual lot grading and erosion control security that is submitted with the building permit, an as-built certificate of survey for single family lots must be submitted to verify that the final as-built grades and elevations of the specific lot and all building setbacks are consistent with the approved grading plan for the development, and amendments thereto as approved by the City Engineer, and that all required property monuments are in place. If the final grading, erosion control and as-built survey and "as-constructed" grading plan is not timely completed, the City may enter the lot, perform the work, and apply the cash escrow toward the cost. Upon satisfactory completion of the grading, erosion control as-built survey and "as-constructed" grading plan, the escrow funds, without interest, less any draw made by the City, shall be returned to the person who deposited the funds with the City. 7 Parrish Meadows 2166445 A certified as-built building pad survey must be submitted and approved for commercial, industrial or institutional developments prior to issuance of a building permit. 17. CLEAN UP. The Developer shall clean dirt and debris from streets that has resulted from construction work by the Developer, home builders, subcontractors, their agents or assigns. Prior to any construction in the plat, the Developer shall identify in writing a responsible party and schedule for erosion control, street cleaning, and street sweeping. 18. OWNERSHIP OF IMPROVEMENTS. Upon completion of the work and construction required by this Contract and final acceptance by the City, the improvements lying within public easements shall become City property without further notice or action. 19. LATERAL STORM SEWER. The Developer shall post a security for lateral storm sewer in the amount of$469,855.95 which is due upon final plat approval. 20. LATERAL AND TRUNK SANITARY SEWER. The Developer shall pay to the City the required water availability charges and sanitary sewer availability charges. The water and sewer availability charges shall be collected according to Section 8-1-6-B of City Code including 9.0 RECs per gross acre for multiple family uses and 3.5 RECs per gross acre for commercial, industrial, or institutional uses. The Developer shall post a security in the amount of $713,840.00 for Lateral and Trunk Sanitary Sewer which is due upon final plat approval. The Developer shall pay a cash fee in the amount of$46,679.68 for the Sewer Availability Charge ("SAC') for commercial development at the time of plat approval which is calculated as follows: 50.5 Acres X $2,641/REC X 3.5 REC/Acres = $46,679.68 The Developer shall pay a cash fee in the amount of$250,895.00 for the Sewer Availability Charge ("SAC') for residential development at the time of plat approval which is calculated as follows: 95 REC X $2,641/REC = $250,895.00 21. LATERAL AND TRUNK WATERMAIN. The Developer shall post a security in the amount of$597,479.60 for the installation of lateral and trunk watermain and connection. The Developer 8 Parrish Meadows 2166445 shall pay a cash fee in the amount of$32,592.70 for the Water Availability Charge ("WAC") for commercial development at the time of plat approval which is calculated as follows: 5.05 Acres X $1,844/REC X 3.5 REC/Acre = $32,592.70 The Developer shall pay a cash fee in the amount of$175,180.00 for the Water Availability Charge ("WAC") for residential development at the time of plat approval which is calculated as follows: 95 REC X $1,844/REC = $175,180.00 22. SEWER CONNECTION CHARGE AND WATER CONNECTION CHARGE. The Developer shall pay to the City required water and sewer connection charges. The water and sewer connection charges shall be collected per Section 8-1-6-C of City Code for all uses and must be paid prior to the issuance of a Certificate of Occupancy based on the fee schedule in effect at the time of application for the Certificate of Occupancy. 23. CONSTRUCTION ACCESS. Construction traffic access and egress for grading, public utility construction, and public street construction is restricted to access the subdivision as approved by the City Engineer. 24. 87T" STREET AND PARRISH AVENUE IMPROVEMENTS. The Developer is responsible for the reprogramming of the traffic signal at the intersection of 87th Street and Parrish Avenue (CSAH No. 42) and shall comply with all requirements of Wright County for constructing improvements along CSAH No. 42, including but not limited to the following: A. Seventy five (75) feet of right of way shall be dedicated as part of the plat; B. The Developer shall obtain all required permits from Wright County including a Right of Way Permit and an Access Permit and shall post a bond or letter of credit as required under these Permits and these permits will require the existing shoulder to be repurposes as a southbound turn lane; C. The Developer shall submit final construction plans to Wright County for review by Wright County prior to the County issuing the required Permits; 9 Parrish Meadows 2166445 D. The Developer shall construct ADA improvements as required for any proposed marked crossings of the intersection of CSAH No. 42 / 871h Street NE, such as ADA compliant ramps, truncated domes, push buttons, countdown timers, and similar improvements. E. The proposed Developer drainage shall not exceed existing drainage rates (meaning that the rate at which storm water is discharged from the site must not increase) into County right of way. The Developer shall verify that all existing drainage patterns and systems affecting Wright County Highway right of way shall continue to function as they did prior to the project. 25. PRIVATE DRIVES. The street names for the private drives are to be designated in accordance with the Wright County grid system and are subject to review and approval of City staff. The Streets delineated as Streets 2, 3, and 4 on the final plat will be owned and maintained by the Homeowners Association established with development of Parrish Meadows. The Developer shall install a five foot wide concrete sidewalk on the north side of Street 4 to provide a pedestrian connection between Park Avenue and Parkview Avenue. The Developer shall grant to the City a permanent easement for public sidewalk purposes for the sidewalk on the north side of Street 4. 26. PARK DEDICATION. The Developer shall pay a cash contribution of $62,580.00 in satisfaction of the City's park dedication requirements for the commercial development in Parrish Meadows. The charge is calculated as follows: 8.94 Acres X $7,000.00/Acre = $62,580.00 The Developer shall pay a cash contribution of $273,600.00 in satisfaction of the City's park dedication requirements for the residential development in Parrish Meadows. The charge is calculated as follows: 95 Units X 2,880/Unit = $273,600.00 The Developer shall install a 10 foot wide asphalt public trail along Parrish Avenue (CSAH No. 42) from the north line of the subject site to 87th Street. The trail will provide for the planned connection between 87th Street and 88th Street. The City will provide a credit to the Developer in the amount of 10 Parrish Meadows 2166445 $16,415.00 for the portion of trail to be constructed by the Developer with the development of Parrish Meadows from 881h Street to the north property line of the subject site. The Developer shall grade for the trail abutting Lot 1, Block 31 and Outlot A, but construction will be deferred until the full connection between 851h Street and 871h Street can be made. The Developer shall pay a cash fee in the amount of $9,712.00 for the portion of trail to be constructed in the future from 871h Street to the south property line of the subject site. 27. TRAFFIC CONTROL SIGNS. The Developer shall pay a cash fee to the City in the amount of$9,500.00 for installation of traffic control signs. The fee is calculated as follows: thirty eight (38) traffic signs at $250.00 per street sign. 28. STREET LIGHT OPERATION COSTS. The Developer shall be responsible for the cost of street light installation consistent with a street lighting plan approved by the City. The Developer shall pay to the City a cash fee in the amount of $31,800.00 for above standard street lights required for the commercial development. The fee is calculated as follows: six (6) street lights at $5,300.00 per street light (above standard) _ $31,800.00. The Developer shall pay to the City a cash fee in the amount of $1,000.00 for standard street lights required for the residential development. The fee is calculated as follows: two (2) street lights at $500.00 per street light (standard) _ $1,000.00. 29. LANDSCAPING. The Developer or lot purchaser shall plant least two (2) trees on every single family lot in the plat, one (1) of which must be planted in the front yard. Trees that are chosen by the Developer or property owner cannot cause a public nuisance, such as cotton producing trees, or trees that may become a public hazard due to insect infestation or weak bark. The minimum deciduous tree size shall be two and one-half (2'/2) inches caliper, balled and burlapped. Evergreen trees must be at least eight feet (8') tall. The trees may not be planted in the right-of-way. Before a building permit is issued for a single family lot, a cash escrow shall be furnished the City in accordance with the City's current fee schedule to guarantee compliance with the landscaping requirements. If the landscaping is not ll Parrish Meadows 2166445 completed in a timely manner, the City may enter the lot, perform the work, and apply the cash escrow toward the cost. Landscaping within the townhouse baselots within the plat shall be installed in accordance with the approved landscape plan. The Developer shall post a $118,590.00 landscaping security at the time of final plat approval to ensure that the landscaping is installed in accordance with the approved Landscape Plan. The Developer or lot purchaser shall sod the front yard, boulevard, and side yards to the rear of the structure on every lot. Weather permitting, the trees, sod, and seed shall be planted within sixty (60) days after a home has received a certificate of occupancy. All trees shall be warranted to be alive, of good quality, and disease free for twelve (12) months after planting. Any replacements shall be warranted for twelve (12) months from the time of planting. The Developer or property owner is responsible for contacting the City when all the landscaping has been installed to set up an inspection. Upon satisfactory completion of the landscaping the escrow funds, without interest, less any draw made by the City, shall be returned to the person who deposited the funds with the City. Fifty percent (50%) of the security will be released when all the landscaping has been installed and inspected by City staff and the remaining fifty percent (50%) will be released one year after the landscaping inspection and any warranty work has been completed. 30. SPECIAL PROVISIONS. The following special provisions shall apply to plat development: A. Implementation of the conditions listed in the Findings of Fact approved by the City Council on August 9, 2021. B. Before the City signs the final plat, the Developer shall convey Outlots A and B to the City by warranty deed, free and clear of any and all encumbrances, including but not limited to all Outlots for stormwater basins, wetlands, and wetland buffers. C. The townhouse site and buildings shall be developed in accordance with the plans and information on file with the City subject to stipulations of approval of the preliminary plat and PUD-CUP in accordance with Section 11-9-4 of the Zoning Ordinance. 12 Parrish Meadows 2166445 D. The Developer shall submit documents establishing a Homeowners Association for the townhouse portion of the development, subject to review and approval of City staff and the City Attorney prior to recording of the final plat. E. The Developer shall dedicate permanent drainage and utility easements on the plat to the City for Outlots C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y, Z, AA, BB, CC, DD and EE. F. The Developer shall convey Outlots C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y, Z, AA, BB, CC, DD, and EE to the Homeowners Association established with the development of Parrish Meadows. G. All utility plans shall be subject to review and approval of the City Engineer. H. Right-of-way dedication as well as roadway, trail, traffic control, and pedestrian improvements for Parrish Avenue (CSAH No. 42) shall be subject to review and approval of Wright County. I. All street right-of-way, design, and construction plans, private drives, street names, and street lighting shall be subject to review and approval of the City Engineer. J. The Developer shall grant to the City a permanent easement for public sidewalk purposes for the sidewalk to be constructed between Park Avenue and Parkview Avenue on Street 4. K. The final plat shall be recorded within 100 days of City Council approval as required by Section 10-5-3.B.8 of the Subdivision Ordinance. L. Prior to City Council approval of the final plat, the Developer shall furnish a boundary survey of the proposed property to be platted with all property corner monumentation in place and marked with lath and a flag. Any encroachments on or adjacent to the property shall be noted on the survey. The Developer's land surveyor certifies that all irons have been set following site grading and utility and street construction. In addition, the certificate of survey must also include a certification that all irons for a specific lot have either been found or set prior to the issuance of a building permit for that lot. 13 Parrish Meadows 2166445 M. The Developer shall provide an escrow for the preparation of record construction drawings and City base map updating. This escrow is calculated at $100.00 per acre for a total escrow of $2,430.00. N. The Developer is required to submit the final plat in electronic format. The electronic format shall be either AutoCAD.DWG file or a .DXF file. All construction record drawings (e.g., grading, utilities, streets) shall be in electronic format in accordance with standard City specifications. 31. CONSTRUCTION ADMINISTRATION AND FEES FOR CITY SERVICES. The Developer shall pay a fee for consulting engineering administration following approval of the Plat. City engineering administration will include consultation with Developer and its engineer on status or problems regarding the project, monitoring during the warranty period, general administration and processing of requests for reduction in security. Fees for this service shall be the actual amount billed for those services, which are estimated to be three percent (3%) of the estimated construction cost of the Improvements to be inspected, assuming normal construction and project scheduling. The Developer shall pay for construction observation performed by the City Engineer. Construction observation shall include part or full time observation, as determined by the City Engineer, of proposed street, sanitary sewer, water and storm drainage construction and will be billed on hourly rates actually required for said inspection, which are estimated to be five percent (5%) of the estimated construction cost of the Improvements to be inspected. In the event of prolonged construction or unusual problems, the City will notify the Developer of anticipated cost overruns for engineering administration and observation services. Any amounts for engineering administration not utilized from this escrow fund shall be returned to the Developer when all improvements have been completed, all financial obligations to the City satisfied, and the required "as constructed" plans have been received by the City. The escrow and fee account shall also include estimated fees for Legal expenses actually incurred (with any excess funds, if any, returned to Developer as indicated in this Contract), City Administrative Fee (a flat fee due upon execution of this Agreement), Trunk Water and Sewer Access Fees 14 Parrish Meadows 2166445 (a flat fee due upon execution of this Agreement), Transportation Infrastructure Costs (a flat fee due upon execution of this Agreement), Park and Trail Dedication Fees (a flat fee due upon execution of this Agreement), Street Light Maintenance and Operation Fee (a flat fee due upon execution of this Agreement) and shall be as stated by the Financial Summary. This escrow amount shall be submitted to the City prior to the City executing this Agreement. All administrative and legal fees related to plan review, drafting of this Agreement and any other necessary items shall be paid to the City prior to execution of this Agreement. Any amounts for legal and engineering not utilized from this escrow fund shall be returned to the Developer when all improvements have been completed, all financial obligations to the City satisfied, and the required "as constructed" plans have been received by the City. All other amounts listed as flat fees are non-refundable and available immediately for City use when posted. 32. SECURITY. To ensure compliance with the terms of this Contract, and construction of all public improvements, and satisfaction of all other obligations, the Developer shall furnish the City with a cash escrow or Irrevocable Standby Letter of Credit with automatic renewal provisions in the amount as required under this Contract. The issuer and form of the security (other than cash escrow) shall be subject to City approval in its reasonable discretion. The security shall be issued by a banking institution in good standing as determined by the City and approved by the City Administrator. The City shall have the ability to draw on the security at a bank or branch bank located within fifty (50) miles of the City Hall. The security shall contain an automatic renewal provision and shall not expire until all the Development is complete and fully and finally accepted by the City, and all terms of this Contract are satisfied. The City may draw down the security, on five (5) business days written notice to the Developer, for any violation of the terms of this Contract or without notice if the security is allowed to lapse prior to the end of the required term. If the required public improvements are not completed at least thirty (30) days prior to the expiration of the security, the City may also draw it down without notice. If the security is drawn down, the proceeds shall be used to cure the default. 15 Parrish Meadows 2166445 Upon receipt of proof satisfactory to the City that work has been completed and financial obligations to the City have been satisfied, with City approval not to be unreasonably withheld or delayed, the security shall be reduced from time to time in proportion to the work completed, but not below ten (10) percent which is the amount of the warranty security. For purposes of this Section, the warranty period shall be a twelve (12) month period after the applicable work has been completed, except with respect to streets, for which the warranty period shall be two years as addressed elsewhere in this Contract. This security amount shall be submitted to the City prior to execution of the Contract. All administrative and legal fees related to plan review, drafting of this Contract and any other necessary items shall be paid to the City prior to execution of the Contract. Upon completion of the work contemplated hereunder and expiration of the warranty period, the remaining security shall be promptly released to Developer. 33. SUMMARY OF SECURITY REQUIREMENTS. The amount of the security described above is calculated as follows: CONSTRUCTION COSTS: A. Sanitary Sewer— Lateral and Trunk $713,840.00 B. Watermain — Lateral and Trunk 597,479.60 C. Storm Sewer - Lateral 469,855.95 D. Streets 691,170.98 E. Signal Improvements 18,796.00 CONSTRUCTION SUB-TOTAL $2,491,142.53 OTHER COSTS: A. Engineering & Surveying Construction Services (6.5%) $161,924.26 B. Landscaping 118,590.00 OTHER COSTS SUB-TOTAL $280,514.26 TOTAL—SUBTOTAL $2,771,656.79 TOTAL IRREVOCABLE LETTER OF CREDIT $3,464,570.99 FOR SECURITY (125% OF SUBTOTAL 16 Parrish Meadows 2166445 ESCROW A. City Legal Expenses (Est. 1.0% of$2,491,142.53) $24,911.43. B. City Construction Observation (Est. 8.0% of$2,491,142.53) 199,291.40 C. GIS Data Entry Fee $2,430.00 ESCROW TOTAL $226,632.83 This breakdown is not a restriction on the use of the security. 34. SUMMARY OF CASH REQUIREMENTS. The following is a summary of the cash requirements under this Contract which must be furnished to the City prior to the City Council signing the final plat: A. City Administrative (1.0% of 2,491,142.53) $24,911.42 B. Trunk Sewer Access Fee (SAC) Commercial Development 46,679.68 Trunk Sewer Access Fee (SAC) Residential Development 250,895.00 C. Trunk Water (WAC) Commercial Development 32,592.70 Trunk Water (WAC) Residential Development 175,180.00 D. Park Dedication Commercial Development $62,580.00 Park Dedication Residential Development 273,600.00 Trail construction (871h St. to south plat line) $9,712.00 E. Traffic Control Signs 9,500.00 F. Street Light Operating Fee —Above Standard 31,800.00 Street Light Operating Fee — Standard 1,000.00 TOTAL CASH REQUIREMENTS $918,450.80 35. DEVELOPMENT CREDITS. The following is a summary of Developer credits from the City: A. Trunk Sanitary Sewer $413,461.83 B. Trail (881h St. to north property line (constructed now) 16,415.00 TOTAL DEVELOPMENT CREDITS $429,876.83 36. WARRANTY. The Developer warrants all improvements required to be constructed by it pursuant to this Contract against poor material and faulty workmanship, other than as set forth hereafter in this Section 35, for a period of one (1) year. The warranty period for streets is two (2) years as specified in 17 Parrish Meadows 2166445 this Contract. The warranty period for underground utilities is two (2) years and shall commence following completion and acceptance by City Council. A minimum of 10% of the total security as specified above in the portion of Section 33 of this Contract shall be retained as warranty security calculated as follows. DEVELOPMENT WARRANTY LETTER OF CREDIT A. Sanitary Sewer $107,076.00 B. Watermain 89,621.94 C. Storm Sewer 70,478.39 D. Streets 60,100.00 E. Erosion & Sedimentation Control 23,750.00 TOTAL WARRANTY LETTER OF CREDIT $351,026.33 37. RESPONSIBILITY FOR COSTS. A. Except as otherwise specified herein, the Developer shall pay all costs incurred by it or the City in conjunction with the development of the plat, including but not limited to Soil and Water Conservation District charges, legal, planning, engineering and construction observation inspection expenses incurred in connection with approval and acceptance of the plat, the preparation of this Contract, review of construction plans and documents, and all costs and expenses incurred by the City in monitoring and inspecting development of the plat. B. The Developer shall hold the City and its officers, employees, and agents harmless from claims made by itself and third parties for damages sustained or costs incurred resulting from plat approval and development. The Developer shall indemnify the City and its officers, employees, and agents for all costs, damages, or expenses which the City may pay or incur in consequence of such claims, including attorneys' fees. C. The Developer shall reimburse the City for costs incurred in the enforcement of this Contract, including engineering and attorneys' fees. D. The Developer shall pay, or cause to be paid when due, and in any event before any penalty is attached, all special assessments referred to in this Contract. This is a personal obligation of 18 Parrish Meadows 2166445 the Developer and shall continue in full force and effect even if the Developer sells one or more lots, the entire plat, or any part of it. E. The Developer shall pay in full all bills submitted to it by the City for obligations incurred under this Contract within thirty (30) days after receipt. If the bills are not paid on time, the City may halt plat development and construction until the bills are paid in full. Bills not paid within thirty (30) days shall accrue interest at the rate of eighteen percent (18%) per year. Additionally, the Developer shall pay in full all bills submitted to it by the City prior to any reductions in the security for the development. F. In addition to the charges and special assessments referred to herein, other charges and special assessments may be imposed such as but not limited to sewer availability charges ("SAC"), City water connection charges, City sewer connection charges, and building permit fees. 38. DEVELOPER'S DEFAULT. In the event of default by the Developer as to any of the work to be performed by it hereunder, the City may, at its option, perform the work and the Developer shall promptly reimburse the City for any expense incurred by the City, provided the Developer, except in an emergency as determined by the City, is first given notice of the work in default, not less than forty-eight (48) hours in advance. This Contract is a license for the City to act, and it shall not be necessary for the City to seek a Court order for permission to enter the land. When the City does any such work, the City may, in addition to its other remedies, assess the cost in whole or in part. 39. MISCELLANEOUS. A. The Developer represents to the City that the plat complies with all city, county, state, and federal laws and regulations, including but not limited to: subdivision ordinances, zoning ordinances, and environmental regulations. If the City determines that the plat does not comply, the City may, at its option, refuse to allow construction or development work in the plat until the Developer does comply. Upon the City's demand, the Developer shall cease work until there is compliance. 19 Parrish Meadows 2166445 B. Third parties shall have no recourse against the City under this Contract. C. Breach of the terms of this Contract by the Developer shall be grounds for denial of building permits, including lots sold to third parties. D. If any portion, section, subsection, sentence, clause, paragraph, or phrase of this Contract is for any reason held invalid, such decision shall not affect the validity of the remaining portion of this Contract. E. Grading, curbing, and one lift of asphalt shall be installed on all public and private streets prior to issuance of any building permits. F. If building permits are issued prior to the acceptance of public improvements, the Developer assumes all liability and costs resulting in delays in completion of public improvements and damage to public improvements caused by the City, Developer, its contractors, subcontractors, material men, employees, agents, or third parties. No sewer and water connections or inspections may be conducted and no one may occupy a building for which a building permit is issued on either a temporary or permanent basis until the streets needed for access have been paved with a bituminous surface and the utilities are accepted by the City Engineer. G. The action or inaction of the City shall not constitute a waiver or amendment to the provisions of this Contract. To be binding, amendments or waivers shall be in writing, signed by the parties and approved by written resolution of the City Council. The City's failure to promptly take legal action to enforce this Contract shall not be a waiver or release. H. This Contract shall run with the land and may be recorded against the title to the property. In the event this Contract is recorded, upon request by Developer, the City covenants to provide a recordable Certificate of Completion within a reasonable period of time following the request, upon the completion of the work and responsibilities required herein, payment of all costs and fees required and compliance with all terms of the Contract. A release of this Contract may be provided in the same manner and subject to the same conditions as a Certificate of Completion provided there are no outstanding or ongoing obligations of Developer under the terms of this 20 Parrish Meadows 2166445 Contract. The Developer covenants with the City, its successors and assigns, that the Developer is well seized in fee title of the property being final platted and/or has obtained consents to this Contract, in the form attached hereto, from all parties who have an interest in the property; that there are no unrecorded interests in the property being final platted; and that the Developer will indemnify and hold the City harmless for any breach of the foregoing covenants. I. Insurance. Prior to execution of the final plat, Developer and its general contractor shall furnish to the City a certificate of insurance showing proof of the required insurance required under this Paragraph. Developer and its general contractor shall take out and maintain or cause to be taken out and maintained until six (6) months after the City has finally accepted the public improvements, such insurance as shall protect Developer and its general contractor and the City for work covered by the Contract including workers' compensation claims and property damage, bodily and personal injury which may arise from operations under this Contract, whether such operations are by Developer and its general contractor or anyone directly or indirectly employed by either of them. The minimum amounts of insurance shall be as follows: Commercial General Liability(or in combination with an umbrella policy) $2,000,000 Each Occurrence $2,000,000 Products/Completed Operations Aggregate $2,000,000 Annual Aggregate The following coverages shall be included: Premises and Operations Bodily Injury and Property Damage Personal and Advertising Injury Blanket Contractual Liability Products and Completed Operations Liability Automobile Liability $2,000,000 Combined Single Limit— Bodily Injury & Property Damage Including Owned, Hired & Non-Owned Automobiles Workers Compensation Workers' Compensation insurance in accordance with the statutory requirements of the State of Minnesota, including Employer's Liability with minimum limits are as follows: 21 Parrish Meadows 2166445 • $500,000—Bodily Injury by Disease per employee • $500,000—Bodily Injury by Disease aggregate • $500,000—Bodily Injury by Accident The Developer's and general contractor's insurance must be "Primary and Non-Contributory". All insurance policies (or riders) required by this Contract shall be (i) taken out by and maintained with responsible insurance companies organized under the laws of one of the states of the United States and qualified to do business in the State of Minnesota, (ii) shall name the City, its employees and agents as additional insureds (CGL and umbrella only) by endorsement which shall be filed with the City and (iii) shall identify the name of the plat. A copy of the endorsement must be submitted with the certificate of insurance. Developer's and general contractor's policies and Certificate of Insurance shall contain a provision that coverage afforded under the policies shall not be cancelled without at least thirty (30) days' advanced written notice to the City, or ten (10) days' notice for non-payment of premium. An Umbrella or Excess Liability insurance policy may be used to supplement Developer's or general contractor's policy limits on a follow-form basis to satisfy the full policy limits required by this Contract. J. Indemnification. To the fullest extent permitted by law, Developer agrees to defend, indemnify and hold harmless the City, and its employees, officials, and agents from and against all claims, actions, damages, losses and expenses, including reasonable attorney fees, arising out of Developer's negligence or its performance or failure to perform its obligations under this Contract. Developer's indemnification obligation shall apply to Developer's general contractor, subcontractor(s), or anyone directly or indirectly employed or hired by Developer, or anyone for whose acts Developer may be liable. Developer agrees this indemnity obligation shall survive the completion or termination of this Contract. K. Each right, power or remedy herein conferred upon the City is cumulative and in addition to every other right, power or remedy, express or implied, now or hereafter arising, available to 22 Parrish Meadows 2166445 City, at law or in equity, or under any other agreement, and each and every right, power and remedy herein set forth or otherwise so existing may be exercised from time to time as often and in such order as may be deemed expedient by the City and shall not be a waiver of the right to exercise at any time thereafter any other right, power or remedy. L. The Developer may not assign this Contract without the written permission of the City Council. The Developer's obligation hereunder shall continue in full force and effect even if the Developer sells one or more lots, the entire plat, or any part of it, until the City's issuance of a Certificate of Completion and Release. M. Retaining walls over four feet in height shall be constructed in accordance with plans and specifications prepared by a structural or geotechnical engineer licensed by the State of Minnesota. Following construction, a certification signed by the design engineer shall be filed with the Building Official evidencing that the retaining wall was constructed in accordance with the approved plans and specifications. All retaining walls identified on the development plans and by special conditions referred to in this Contract shall be constructed before any other building permit is issued for a lot on which a retaining wall is required to be built. All retaining walls must comply with the City's engineering manual and the City's zoning ordinance. N. Should the Developer convey any lot or lots in the Development to a third party, the City and the owner of that lot or those lots may amend this Development Contract or other city approvals or agreements for development or use of those lots without the approval or consent of the Developer or other lot owners in the Development. Private agreements between the owners of lots within the Development for shared service or access and related matters necessary for the efficient use of the Development shall be the responsibility of the lot owners and shall not bind or restrict City authority to approve applications from any lot owner in the Development. 40. NOTICES. Required notices to the Developer shall be in writing, and shall be either hand delivered to the Developer, its employees or agents, or mailed to the Developer by certified mail at the following address: 1536 Beachcomber Boulevard, Waconia, Minnesota 55387. Notices to the City shall 23 Parrish Meadows 2166445 be in writing and shall be either hand delivered to the City Administrator, or mailed to the City by certified mail in care of the City Administrator at the following address: Otsego City Hall, 13400 90th Street NE, Otsego, Minnesota 55330. [The remainder of this page has been intentionally left blank. Signature pages follow.] 24 Parrish Meadows 2166445 CITY OF OTSEGO BY: Jessica L. Stockamp, Mayor (SEAL) AND Audra Etzel, City Clerk STATE OF MINNESOTA ) )ss. COUNTY OF WRIGHT ) The foregoing instrument was acknowledged before me this day of 20217 by Jessica L. Stockamp and by Audra Etzel, the Mayor and City Clerk of the City of Otsego, a Minnesota municipal corporation, on behalf of the corporation and pursuant to the authority granted by its City Council. NOTARY PUBLIC 25 Parrish Meadows 216644v5 DEVELOPER: TAMARACK LAND — PARRISH MEADOWS, LLC BY: Its STATE OF MINNESOTA ) )ss. COUNTY OF ) The foregoing instrument was acknowledged before me this day of 20217 by the of Tamarack Land — Parrish Meadows, LLC, a Minnesota limited liability company, on behalf of said entity. NOTARY PUBLIC DRAFTED BY: CAMPBELL, KNUTSON Professional Association Grand Oak Office Center I 860 Blue Gentian Road, Suite 290 Eagan, MN 55121 Telephone: 651-452-5000 DSK/smt 26 Parrish Meadows 216644v5 EXHIBIT "A" TO DEVELOPMENT CONTRACT Legal Description of Property Being Final Platted as PARRISH MEADOWS All that part of the Southwest Quarter of the Northeast Quarter of Section 22, Township 121, Range 23, except the South 40 feet thereof; and also except that part platted as Otsego Fire Station No. 1 East Addition, Wright County, Minnesota, lying northerly of the following described line: Commencing at the northeast corner of said Southwest Quarter of the Northeast Quarter; thence South 0 degrees 17 minutes 07 seconds East, along the east line of said Southwest Quarter of the Northeast Quarter, a distance of 719.31 feet to the point of beginning of the line to be described; thence North 89 degrees 51 minutes 32 seconds West a distance of 496.99 feet; thence southerly 94.57 feet along a non-tangential curve concave to the west having a radius of 814.74 feet with chord bearing South 02 degrees 21 minutes 47 seconds East and chord length of 94.52 feet; thence South 89 degrees 55 minutes 05 seconds West and distance of 585.31 feet; thence southerly 31.22 feet along a non-tangential curve concave to the west having a radius of 205.00 feet with chord bearing South 04 degrees 13 minutes 07 seconds East and chord length of 31.19 feet; thence South 0 degrees 08 minutes 39 seconds West a distance of 32.41 feet; thence South 89 degrees 55 minutes 09 seconds West a distance of 30.54 feet to the northeast corner of OTSEGO FIRE SUBSTATION NO. 1 EAST ADDITION, according to the recorded plat thereof, Wright County, Minnesota; thence westerly along the north line of said plat to the west line of said Southwest Quarter of the Northeast Quarter and there terminating. 27 Parrish Meadows 2166445 [BANK LETTERHEAD] IRREVOCABLE LETTER OF CREDIT No. Date: TO: City of Otsego City Hall 13400 90th Street NE Otsego, Minnesota 55330 Dear Sir or Madam: We hereby issue, for the account of (Name of Developer) and in your favor, our Irrevocable Letter of Credit in the amount of $ available to you by your draft drawn on sight on the undersigned bank. The draft must: a) Bear the clause, "Drawn under Letter of Credit No. dated 2 , of (Name of Bank) b) Be signed by the City Administrator or Finance Director of the City of Otsego. c) Be presented for payment at (Address of Bank) on or before 4:00 p.m. on November 30, 2 This Letter of Credit shall automatically renew for successive one-year terms unless, at least forty-five (45) days prior to the next annual renewal date (which shall be November 30 of each year), the Bank delivers written notice to the Otsego Finance Director that it intends to modify the terms of, or cancel, this Letter of Credit. Written notice is effective if sent by certified mail, postage prepaid, and deposited in the U.S. Mail, at least forty- five (45) days prior to the next annual renewal date addressed as follows: Otsego Finance Director, Otsego City Hall, 13400 90th Street NE, Otsego, MN 55330, and is actually received by the Finance Director at least thirty (30)days prior to the renewal date. This Letter of Credit sets forth in full our understanding which shall not in any way be modified, amended, amplified, or limited by reference to any document, instrument, or agreement, whether or not referred to herein. This Letter of Credit is not assignable. This is not a Notation Letter of Credit. More than one draw may be made under this Letter of Credit. This Letter of Credit shall be governed by the most recent revision of the Uniform Customs and Practice for Documentary Credits, International Chamber of Commerce Publication No. 600. We hereby agree that a draft drawn under and in compliance with this Letter of Credit shall be duly honored upon presentation. [NAME OF BANK] BY: Its 1 Parrish Meadows 2166445