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Item 3.12 Meridian Fields Pulte Homes Request for City Council Action DEPARTMENT INFORMATION ORIGINATING DEPARTMENT REQUESTOR: MEETING DATE: Planning City Planner Licht 10 August 2026 PRESENTER(s) REVIEWED BY: ITEM #: Consent City Administrator/Finance Director Flaherty City Engineer Wagner City Attorney Kendall 3.12 – Meridian Fields STRATEGIC VISION MEETS: THE CITY OF OTSEGO: Is a strong organization that is committed to leading the community through innovative communication. X 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 that the City Council approve vacation of existing easements, a final plat, and a development contract. ARE YOU SEEKING APPROVAL OF A CONTRACT? IS A PUBLIC HEARING REQUIRED? Yes Yes, held by the Planning Commission on 6 April 2026 BACKGROUND/JUSTIFICATION: Pulte Homes of Minnesota is requesting final plat approval for Meridian Fields, consisting of 49 single family lots. The subject property is 62.27 acres located at the northwest quadrant of 70th Street (CSAH 38) and Odean Avenue. ▪ Preliminary Plat. The preliminary plat for subdivision of the subject property into 141 single family lots was approved by the City Council on 13 April 2026. This final plat is the first phase of a subdivision to be developed in multiple phases. Lot 1, block 1 is an existing rural residential property to remain until further subdivided. The subdivision design of the final plat is consistent with the approved preliminary plat. ▪ Comprehensive Plan. The 2023 Otsego Comprehensive Plan includes the subject property within the East Sewer District and guides low density residential uses at 3.0 dwelling units per acre or less. The net density of the preliminary plat is 3.0 dwelling units per acre. The final plat consisting of single family lots served by City sewer and water utilities is consistent with the 2023 Comprehensive Plan. ▪ Zoning. The subject site is zoned R-5, Residential Single and Two Family District. Single family dwellings are allowed within the R-5 District as a permitted use. A Planned Unit Development-Conditional Use Permit (PUD- CUP) was approved with the preliminary plat to allow modification of certain lot requirements. ▪ Lot Requirements. The R-5 District requires single family lots to be a minimum of 60 feet in width and 9,000 square feet in area. All lots are 60 feet in width or wider. The preliminary plat and PUD-CUP approval allowed the minimum lot area requirement to be averaged across the subdivision, with individual lot areas ranging from 8,400 square feet to 27,834 square feet. All lots comply with the Zoning Ordinance and PUD-CUP. ▪ Setbacks. The lots within the final plat are subject to the setback requirements of the R-5 District, shown below. All lots have a building envelope of sufficient area and dimensions to accommodate construction of a single family dwelling. Local ROW Interior Side Interior Rear 70th St. Odean Ave. Wetland Buffer 25ft. house 30ft. garage 7ft. 20ft. 65ft. 20ft. ▪ Outlots. The final plat includes Outlot A and Outlot B. These outlots will be final platted with future phases of the subdivision as single family lots, public right-of-way and outlots for stormwater basins, wetlands, and wetland buffers. The developer will retain ownership of Outlot A and Outlot B. ▪ Access. The final plat is to be accessed from intersections with 70th Street (CSAH 38) and Odean Avenue. Right-of-way dedication and the location of the access to 70th Street (CSAH 38) are subject to review and approval by Wright County. There is an existing easement along the east line of the subject property that was established when Odean Avenue was improved in the 1990s. This easement is to be vacated with the final plat. The final plat includes dedication of 40 feet of right-of-way for the west half of Odean Avenue. The location of the access to Odean Avenue is more than 500 feet from the nearest intersection to the north or south as required by Section 10-8- 5.B.4.c of the Subdivision Ordinance. Right-of-way dedication and access to Odean Avenue are subject to review and approval by the City Engineer. ▪ Streets. All lots will be accessed by local public streets that are 28 feet wide with concrete curb and gutter within a 60-foot-wide right-of-way with a sidewalk along one side. There are no permanent or temporary cul- de-sacs required within the final plat. Street names shown on the final plat are consistent with the Wright County grid system as required by Section 10-8-5.B.13 of the Subdivision Ordinance. Section 8-8-4 of the City Code specifies installation of street lighting for new subdivisions at the corners of intersecting streets and midblock locations for blocks longer than 900 feet. The number and location of streetlights are subject to review and approval of the City Engineer. The Development Contract provides for payment of the streetlight operation fee of as established by the City Code. The developer will pay for fabrication and installation of all street signs as stated in the Development Contract. All street construction plans, including street lighting and street signs, are subject to review and approval by the City Engineer. ▪ Landscaping. The developer has submitted a landscape plan for the final plat. Section 11-19-2.B of the Zoning Ordinance requires installation of two shade trees on each lot. The builder for the house on each lot will install the required landscaping. Landscaping security will be collected at the time of building permit for each lot. Section 11-19-3.B of the Zoning Ordinance requires that lots abutting major collector and arterial streets provide a landscape buffer yard. The required residential buffer yard for Lot 1, Block 1 is not being installed at this time because the existing home and accessory buildings are to remain. The residential buffer yard for Lot 1, Block 1 will be required to be installed at such time the lot is subdivided into lots as shown on the sketch plan included with the preliminary plat. The landscape plan includes additional plantings for Lot 2, Block 1 and Lots 1 and 9, Block 4 to provide a required residential buffer yard. The buffer yard landscaping must be revised to include additional evergreen trees in offset rows spaced 25 feet on center, subject to review and approval by the Zoning Administrator. All trees are to be planted within individual lots and not within public right-of-way. ▪ Stormwater Management. The developer has submitted grading and drainage plans for the final plat. The preliminary plat included a wetland delineation and wetland impact plan for the subdivision. Stormwater basins and wetlands that are to be preserved are included within Outlot B, which will be further subdivided with future phases of the plat. These areas will ultimately be final platted as outlots deeded to the City. Temporary drainage and utility easements will be required over all of Outlot A and Outlot B for stormwater management purposes. ▪ Utilities. The developer has submitted construction plans for sewer and water utilities to serve the final plat that are subject to review and approval by the City Engineer. The developer is required to pay Utility Availability Charges at the time of final plat approval as outlined in the Development Contract. No fee will be collected at this time for Lot 1, Block 1, which will remain a rural lot until further subdivided. Utility connection charges are to be paid by the builder when a building permit is issued for each lot in accordance with the fee schedule in effect at that time. ▪ Easements. The final plat illustrates drainage and utility easements at the perimeter of each lot and over stormwater drainage areas or utilities. All drainage and utility easements are subject to approval of the City Engineer for compliance with Section 10-8-12 of the Subdivision Ordinance. Temporary drainage and utility easements that expire upon approval of a subsequent final plat are required over Outlot A and Outlot B. ▪ Park Dedication. The preliminary plat includes the condition that the developer satisfy park dedication requirements by payment of a cash fee in lieu of land per lot as set forth by Section 10-8-15.G of the Subdivision Ordinance. Park dedication requirements for Lot 1, Block 1 are to be deferred until such time as the lot is further subdivided. Park dedication fees as set forth by the City’s fee schedule for the final plat will be required to be paid at the time the Development Contract is executed. ▪ Development Contract. The City Attorney has drafted a Development Contract to be executed by the developer to provide for completion of all public improvements, establishment of required securities, and payment of applicable fees. The Development Contract is to be approved by resolution of the City Council concurrent with the final plat approval. ▪ Recording. Section 11-5-3-B.8 of the Subdivision Ordinance requires recording of the final plat within 100 days of City Council approval. The City Clerk will record the final plat and Development Contract upon receipt of the fees and securities required by the Development Contract. SUPPORTING DOCUMENTS ATTACHED: • Site Location Map • Final Plat (4 sheets) • Resolution 2026-67 vacating existing easements • Resolution 2026-68 approving a Final Plat • Resolution 2026-69 approving a Development Contract POSSIBLE MOTION PLEASE WORD MOTION AS YOU WOULD LIKE IT TO APPEAR IN THE MINUTES: Motion to adopt: 1. Resolution 2026-67 vacating existing easements within the plat of Meridian Fields; 2. Resolution 2026-68 approving the final plat of Meridian Fields, subject to conditions as presented; 3. Resolution 2026-69 approving a Development Contract. BUDGET INFORMATION FUNDING: BUDGETED: Fund 701 – Development Escrows N/A SIte Location Map Meridian Fields 921 ft Overview Legend Highways Interstate State Highway US Highway Roads City/Township Limits c t Parcels The permanent easement for slope, grading and maintenance purposes, now to be vacated, originally granted in Document No. 693127, office of the County Recorder, Wright County, Minnesota. AND The permanent easement for slope, grading and maintenance purposes, now to be vacated, originally granted in Document No. 684756, office of the County Recorder, Wright County, Minnesota. EASEMENT VACATION I hereby certify that this survey, plan or report was prepared by me or under my direct supervision and that I am a duly licensed Professional Land Surveyor under the laws of the State of Minnesota. Signed this 10th day of July, 2026 For: Hill Incorporated By: Marcus F. Hampton, MN LS No. 47481 SKETCH & DESCRIPTION FOR: Pulte Homes of Minnesota, LLC 2999 WEST C.R. 42, SUITE 100 BURNSVILLE, MN 55306 PHONE: 952-890-6044 marcus@mnhill.com www.mnhill.comDRAWN BYDATEREVISIONSPLM7/10/2026CAD FILEPROJECT NO.SHEET 1 OF 224323-0024323VAC.dwg EASEMENT VACATION SKETCH & DESCRIPTION FOR: Pulte Homes of Minnesota, LLC HILL INCORPORATED SCALE: 1"=200' 24323VAC.dwg SHEET 2 OF 2 MERIDIAN FIELDSSHEET ÿ OF Ă SHEETSIn witness whereof said Pulte Homes of Minnesota, LLC, a Minnesota limited liability company, hascaused these presents to be signed by its proper officerthis day of , Āþ .Pulte Homes of Minnesota, LLCJamie Tharp, Chief ManagerSTATE OF COUNTY OF The foregoing instrument was acknowledged before me this day of ,Āþ, by Jamie Tharp, Chief Manager of Pulte Homes of Minnesota, LLC, a Minnesota limitedliability company, on behalf of the company.Notary Public, County, (Notary Signature)My commission expires (Notary Printed Name)I, Marcus F. Hampton, do hereby certify that this plat was prepared by me or under my directsupervision; that I am a duly Licensed Land Surveyor in the State of Minnesota; that this plat is acorrect representation of the boundary survey; that all mathematical data and labels are correctlydesignated on this plat; that all monuments depicted on this plat have been, or will be correctly setwithin one year; that all water boundaries and wet lands, as defined in Minnesota Statutes, Sectionăþă.þÿ, Subd. ā, as of the date of this certificate are shown and labeled on this plat; and all publicways are shown and labeled on this plat.Dated this day of , ĀþMarcus F. Hampton, Licensed Land Surveyor, Minnesota License No. ĂąĂĆÿSTATE OF MINNESOTACOUNTY OF The foregoing surveyor's certificate instrument was acknowledged before me this day of, Āþ, by Marcus F. Hampton, Licensed Land Surveyor,Minnesota License No. ĂąĂĆÿ.Notary Public, County, Minnesota(Notary Signature)My commission expires January āÿ,(Notary Printed Name)KNOW ALL PERSONS BY THESE PRESENTS: That Pulte Homes of Minnesota, LLC, a Minnesotalimited liability company,fee owners of the following described property, situated in the County ofWright, State of Minnesota, to wit:The South Half of the Northeast Quarter of the Southwest Quarter, Section ĀĆ, Township ÿĀÿ,Range Āā, Wright County, Minnesota.ANDThe Southeast Quarter of the Southwest Quarter of Section ĀĆ, Township ÿĀÿ, Range Āā, WrightCounty, Minnesota.EXCEPT that part of the Southeast Quarter of the Southwest Quarter, Section ĀĆ, Township ÿĀÿ,Range Āā, Wright County, Minnesota, described as follows:Beginning at the Southeast corner of said Southeast Quarter of the Southwest Quarter; thenceWest along the Section line, Āāā.āă feet; thence North and parallel with the quarter section lineof said Section Āāā.āă feet; thence East and parallel with the section line between Sections ĀĆand āā, Āāā.āă feet; thence South along the quarter section line Āāā.āă feet to the point ofbeginning.ALSO EXCEPT that part of the Southeast Quarter of the Southwest Quarter of Section ĀĆ,Township ÿĀÿ, Range Āā, Wright County, Minnesota, described as follows: Commencing at theSoutheast corner of the Southeast Quarter of the Southwest Quarter, Section ĀĆ, Township ÿĀÿ,Range Āā; thence South ćþ degrees þþ minutes þþ seconds West, assumed bearing along theSouth line of said Southeast Quarter of the Southwest Quarter, a distance of ĀăĆ.āĄ feet; thenceNorth þþ degrees āĂ minutes Āā seconds West a distance of ăþ.þþ feet to the Northerly line ofWright County Right of Way Plat No. Āć and the actual point of beginning of the land to bedescribed; thence continuing North þþ degrees āĂ minutes Āā seconds West and parallel withthe East line of said Southeast Quarter of the Southwest Quarter a distance of Āāā.āĄ feet;thence North ćþ degrees þþ minutes þþ seconds East, parallel with the South line of the saidSoutheast Quarter a distance of ĀþĆ.ćÿ feet to the Westerly line of Wright County Right of WayPlat No. Āć; thence Southeasterly along said Westerly line of Wright County Right of Way PlatNo. Āć and along a non-tangential curve concave to the Northeast with a radius of ąþć.þþ feet, acentral angle of þÿ degrees Āć minutes ÿą seconds, and a chord bearing South þÿ degrees āăminutes āĄ seconds East a distance of ÿĆ.Ăÿ feet to a point of reverse curvature; thencecontinuing Southeasterly along said Wright County Right of Way Plat No. Āć and along saidreverse curve a radius of Ąāć.þþ feet; a central angle of þĀ degrees ăĂ minutes ÿĂ seconds adistance of āĀ.āĆ feet; thence South ćþ degrees þþ minutes þþ seconds West, not tangent to lastdescribed curve and parallel with the South line of said Southeast Quarter of the SouthwestQuarter a distance of ÿćĀ.āĄ feet; thence South þþ degrees āĂ minutes Āā seconds East andparallel with the East line of the said Southeast Quarter of the Southwest Quarter to the Northline of said Wright County Right of Way Plat No. Āć a distance of ÿĆā.āĄ feet; thence South ćþdegrees þþ minutes þþ seconds West along the said North line of said Wright County Right ofWay Plat No. Āć a distance of Āă.þþ feet to the point of beginning.ALSO EXCEPT the West ĀĆÿ.þþ feet of the East ĆĄć.āă feet of the South Āþă.þþ feet of theSoutheast Quarter of the Southwest Quarter of Section ĀĆ, Township ÿĀÿ, Range Āā, WrightCounty, Minnesota.ANDThat part of the West Half of the Southwest Quarter of Section ĀĆ, Township ÿĀÿ, Range Āā,Wright County, Minnesota, described as follows:Beginning at the Southeast Corner of the West Half of the Southwest Quarter; thence NorthĆąÿ.Ā feet along the East line thereof; thence West ăþþ feet; thence South Ćąÿ.Ā feet; thence Eastăþþ feet along the South line of said West Half of the Southwest Quarter to the point ofbeginning, EXCEPT the following described property:That part of the West Half of the Southwest Quarter of Section ĀĆ, Township ÿĀÿ, Range Āā,Wright County, Minnesota, described as follows:Commencing at the Southeast corner of said West Half of the Southwest Quarter; thence Westalong the South line of said West Half of the Southwest Quarter, a distance of Āăþ.þþ feet to theactual point of beginning; thence continue West along said South line, a distance of Āăþ.þþ feet;thence North parallel with East line of said West Half of the Southwest Quarter, a distance ofĆąÿ.Āþ feet; thence East parallel with the South line of said West Half of the Southwest Quarter, adistance of Āăþ.þþ feet; thence South parallel with the East line of said West Half of theSouthwest Quarter, a distance of Ćąÿ.Āþ feet to the point of beginning.Has caused the same to be surveyed and platted as MERIDIAN FIELDS and does hereby dedicate tothe public for public use the public ways and the drainage and utility easements as created by thisplat.CITY COUNCIL, CITY OF OTSEGO, MINNESOTAThis plat of MERIDIAN FIELDS was approved and accepted by the City Council of the City of Otsego,Minnesota at a regular meeting thereof held the day of , Āþ ,and said plat is in compliance with the provisions of Minnesota Statutes, Section ăþă.þā, Subd. Ā.MayorClerkWRIGHT COUNTY SURVEYORI hereby certify that in accordance with Minnesota Statutes, Section ăþă.þĀÿ, Subd. ÿÿ, this plat hasbeen reviewed and approved this day of , Āþ.Wright County SurveyorWRIGHT COUNTY HIGHWAY ENGINEERThis plat was reviewed and recommended for approval this dayof , Āþ .Wright County EngineerWRIGHT COUNTY LAND RECORDSPursuant to Minnesota Statutes, Section ăþă.þĀÿ, Subd. ć, taxes payable for the yearĀþ on the land hereinbefore described have been paid. Also, pursuant to MinnesotaStatutes, Section ĀąĀ.ÿĀ, there are no delinquent taxes and transfer enteredthis day of , Āþ.Wright County Land Records AdministratorWRIGHT COUNTY RECORDERI hereby certify that this instrument was filed in the office of the County Recorder for record on this day of , Āþ , at o'clock . M. and was dulyrecorded in Cabinet No. , Sleeve , as DocumentNumber .Wright County Recorder MERIDIAN FIELDSBEARINGS ARE BASED ON THE SOUTH LINE OF THESE ÿ/Ă OF THE SW ÿ/Ă OF SEC. Ā8, T. ÿĀÿ, R. Āā WHICHIS ASSUMED TO HAVE A BEARING OF S 89°Ā8'ă8" WDENOTES FOUND OPEN ÿ/Ā INCH IRON MONUMENTUNLESS OTHERWISE NOTEDDENOTES 1/2 INCH BY 14 INCH IRON MONUMENT WITHCAP MARKED L.S. NO. 47481 SET IN ACCORDANCE WITHMN STATE SATUTE 505.021, SUBD. 10.DENOTES FOUND WRIGHT COUNTY CAST IRONMONUMENTDENOTES SET MAGNETIC NAILSHEET Ā OF Ă SHEETSSCALE IN FEETþÿþþĀþþNOT TO SCALE MERIDIAN FIELDSINSET ABEING ă FEET IN WIDTH ANDADJOINING SIDE LOT LINES, ANDBEING ÿþ FEET IN WIDTH ANDADJOINING PUBLIC WAYS AND REARLOT LINES, UNLESS OTHERWISEINDICATED ON THIS PLAT.DRAINAGE AND UTILITY EASEMENTSARE SHOWN THUS:SHEET ā OF Ă SHEETSBEARINGS ARE BASED ON THE SOUTH LINE OF THESE ÿ/Ă OF THE SW ÿ/Ă OF SEC. Ā8, T. ÿĀÿ, R. Āā WHICHIS ASSUMED TO HAVE A BEARING OF S 89°Ā8'ă8" WDENOTES 1/2 INCH BY 14 INCH IRON MONUMENT WITHCAP MARKED L.S. NO. 47481 SET IN ACCORDANCE WITHMN STATE SATUTE 505.021, SUBD. 10.SCALE IN FEETþăþÿþþ MERIDIAN FIELDSINSET BBEING ă FEET IN WIDTH ANDADJOINING SIDE LOT LINES, ANDBEING ÿþ FEET IN WIDTH ANDADJOINING PUBLIC WAYS AND REARLOT LINES, UNLESS OTHERWISEINDICATED ON THIS PLAT.DRAINAGE AND UTILITY EASEMENTSARE SHOWN THUS:SHEET Ă OF Ă SHEETSBEARINGS ARE BASED ON THE SOUTH LINE OF THESE ÿ/Ă OF THE SW ÿ/Ă OF SEC. Ā8, T. ÿĀÿ, R. Āā WHICHIS ASSUMED TO HAVE A BEARING OF S 89°Ā8'ă8" WDENOTES FOUND OPEN ÿ/Ā INCH IRON MONUMENTUNLESS OTHERWISE NOTEDDENOTES 1/2 INCH BY 14 INCH IRON MONUMENT WITHCAP MARKED L.S. NO. 47481 SET IN ACCORDANCE WITHMN STATE SATUTE 505.021, SUBD. 10.SCALE IN FEETþăþÿþþ 1 239505v1 Meridian Fields (reserved for recording information) DEVELOPMENT CONTRACT (Developer Installed Improvements) MERIDIAN FIELDS CONTRACT dated ____________________, 2026, by and between the CITY OF OTSEGO, a Minnesota municipal corporation (“City”), and PULTE HOMES OF MINNESOTA LLC, a Minnesota limited liability company (the “Developer”). 1. REQUEST FOR PLAT APPROVAL. The Developer has asked the City to approve a plat for MERIDIAN FIELDS (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 one hundred (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, 2 239505v1 Meridian Fields 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 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. 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 twenty five percent (25%) ownership interest or in which they are an 3 239505v1 Meridian Fields officer or director may not act as contractors or subcontractors for the public improvements identified in Paragraph 6 above. 8. 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: Plan A - Plat Plan B - Final Grading, Drainage, and Erosion Control Plan Plan C - Plans and Specifications for Public Improvements Plan D - Street Lighting Plan Plan E - Landscape Plan 9. 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 4 239505v1 Meridian Fields 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 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. 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 5 239505v1 Meridian Fields 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 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, 2027. 13. STREETS. 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 final wear course installation, 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 snow plowing and shall pay all costs associated with snow plowing. Any plowing undertaken by the City shall not constitute City 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 seventy five percent (75%) build out is not achieved. However, the final wear course shall not be delayed for a period longer than two (2) 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 6 239505v1 Meridian Fields course is placed prior to seventy five percent (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 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 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 7 239505v1 Meridian Fields (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 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 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 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. Before a building permit 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. 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 is not timely completed, the City may enter the lot, perform the work, and apply the cash escrow toward the cost. Up on satisfactory completion of the grading, erosion control and as-built survey, 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. 8 239505v1 Meridian Fields 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 $479,540.00 which is due upon final plat approval. The security amount shall be one hundred twenty five percent (125%) of the City Engineer’s estimated cost of all public improvements and/or private improvements required by the Subdivision Ordinance or Zoning Ordinance. 20. LATERAL 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 $491,221.00 for Lateral Sanitary Sewer which is due upon final plat approval. The security amount shall be one hundred twenty five percent (125%) of the City Engineer’s estimated cost of all public improvements and/or private improvements required by the Subdivision Ordinance or Zoning Ordinance. The Developer shall pay a cash fee in the amount of $152,208.00 for the Sewer Availability Charge (“SAC”) at the time of plat approval which is calculated as follows: 48 RECs X $3,171/REC = $152,208.00 9 239505v1 Meridian Fields The SAC calculation above does not include a fee for Lot 1, Block 1, which shall be deferred until such time as the existing single family dwelling upon the lot is connected to City sewer or the lot is further subdivided into lots and blocks subject to approval of a preliminary plat and final plat. 21. LATERAL WATERMAIN. The Developer shall post a security in the amount of $336,802.00 for the installation of lateral watermain and connection. The security amount shall be one hundred twenty five percent (125%) of the City Engineer’s estimated cost of all public improvements and/or private improvements required by the Subdivision Ordinance or Zoning Ordinance. The Developer shall pay a cash fee in the amount of $220,608.00 for the Water Availability Charge (“WAC”) at the time of plat approval which is calculated as follows: 48 RECs X $4,596.00/REC = $220,608.00 The Water Availability Charge above does not include a fee for Lot 1, Block 1, which shall be deferred until such time as the existing single family dwelling upon the lot is connected to City water or the lot is further subdivided into lots and blocks subject to approval of a preliminary plat and final plat. 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 building permit based on the fee schedule in effect at the time of application for the building permit. 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. PARK DEDICATION. The Developer shall pay a cash contribution of $189,600.00 in satisfaction of the City’s park dedication requirements. The charge was calculated as follows: 48 Dwelling Units X $3,950.00/Dwelling Unit = $189,600.00 Park dedication requirements for Lot 1, Block 1 shall be deferred until such time as the lot is further subdivided into lots and blocks subject to approval of a preliminary plat and final plat. 10 239505v1 Meridian Fields 25. WETLAND, STREET, AND TRAFFIC CONTROL SIGNS. The Developer shall pay a cash fee to the City in the amount of $3,500.00 for installation of traffic control signs. The fee is calculated as follows: fourteen (14) traffic signs at $250.00 per street sign. 26. 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 in the amount of $500.00 for each fixture. The Developer shall pay to the City $3,000.00 in payment of the first two years of operating costs for street lights 27. LANDSCAPING. The Developer or lot purchaser shall plant least two (2) trees on every lot in the plat, one 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 (2½) 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. 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. Before a building permit is issued, a cash escrow per each lot in the plat 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 completed in a timely manner, the City may enter the lot, perform the work, and apply the cash escrow toward the cost. 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. 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. 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 11 239505v1 Meridian Fields percent (50%) will be released one year after the landscaping inspection and any warranty work has been completed. Landscaping shall be installed in accordance with the approved landscape plan. The Developer shall post a $58,328.00 landscaping security at the time of final plat approval to ensure that the landscaping is installed in accordance with the approved plan. 28. 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 10, 2026. B. The Developer shall install two shade trees upon each lot, one of which shall be in the front yard of each lot. C. The Developer shall install residential buffer yard landscaping as required by the Zoning Ordinance, subject to review and approval of the Zoning Administrator. D. All grading, drainage, wetland impacts, and erosion control issues shall be subject to review and approval of the City Engineer. E. All utility plans shall be subject to review and approval of the City Engineer. F. The Developer shall pay Utility Availability Charges at the time of final plat approval in accordance with the City Code and fee schedule in effect. G. No Utility Charges shall be collected for Lot 1, Block 1; Utility Availability Charges for Lot1, Block 1 shall be collected when: a. The existing single family dwelling is connected to City sewer and/or water utilities. b. The lot is further subdivided subject to approval of a preliminary plat and final plat. H. Utility Connection Fees shall be paid at the time a building permit is issued for each lot in accordance with the City Code and fee schedule in effect. I. All drainage and utility easements shall be subject to review and approval of the City Engineer. 12 239505v1 Meridian Fields J. The Developer shall grant to the City a temporary drainage and utility easement at the time of final plat recording over the entirety of Outlots A and B, Meridian Fields in a recordable form approved by the City, expiring when Outlots A and B are final platted into lots and blocks. 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. M. The Developer shall pay an escrow for the preparation of record construction drawings and City base map updating. This fee is $100.00 per acre for a total charge of $2,268.00. 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. 29. 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 13 239505v1 Meridian Fields 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 (a flat fee due upon execution of this Agreement), Park and Trail Dedication Fees (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. 30. 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 security amount shall be one hundred twenty five percent (125%) of the City Engineer’s estimated cost of all public improvements and/or private improvements required by the 14 239505v1 Meridian Fields Subdivision Ordinance or Zoning Ordinance. The Developer shall provide an additional security equal to six and one-half (6.5%) of the estimated cost of the required public and/or private improvements for use by the City for the purpose of assuming responsibility for design, bidding, and construction administration of the required improvement in the event of a default by the Developer as provided for by 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. 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 percent (10%) 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. 15 239505v1 Meridian Fields 31. SUMMARY OF SECURITY REQUIREMENTS. The amount of the security described above is calculated as follows: CONSTRUCTION COSTS: A. Sanitary Sewer - Lateral $491,221.00 B. Watermain - Lateral 336,802.00 C. Storm Sewer - Lateral 479,540.00 D. Streets 669,143.00 E. Landscape 58,328.00 CONSTRUCTION SUB-TOTAL $2,035,034.00 OTHER COSTS: A. Engineering & Surveying Construction Services (6.5%) $132,277.21 OTHER COSTS SUB-TOTAL $132,277.21 TOTAL – SUBTOTAL $2,167,311.21 TOTAL IRREVOCABLE LETTER OF CREDIT $2,709,139.01 FOR SECURITY (125% OF SUBTOTAL ESCROW A. City Legal Expenses (Est. 1.0% of $2,035,034.00) $20,350.34 B. City Construction Observation (Est. 8.0% of $2,035,034.00) 162,802.72 C. GIS Data Entry Fee $2,268.00 ESCROW TOTAL $185,421.06 This breakdown is not a restriction on the use of the security. 32. 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 (Est. 1.0% of $2,035,034.00) $20,350.34 B. Trunk Sewer Access Fee (SAC) 152,208.00 C. Trunk Water (WAC)(with credit included) 220,608.00 D. Park And Trail Dedication 189,600.00 E. Wetland, Street &Traffic Control Signs 3,500.00 F. Street Lights 3,000.00 TOTAL CASH REQUIREMENTS $589,266.34 16 239505v1 Meridian Fields 33. 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 33, for a period of one (1) year. The warranty period for streets is two (2) years as specified in 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 ten percent (10%) of the total security as specified above in the portion of Section 30 of this Contract shall be retained as warranty security calculated as follows. WARRANTY RETAINAGE A. Sanitary Sewer $73,683.15 B. Watermain 50,520.30 C. Storm Sewer 71,931.00 D. Streets 74,200.00 E. Erosion & Sedimentation Control 12,500.00 TOTAL WARRANTY RETAINAGE FROM LETTER OF CREDIT $282,834.45 The Developer is not required to post this amount separately but rather this amount shall be retained for warranty purposes from the total security posted according to Section 30 of this Contract until warranty obligations are satisfied. 34. 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, 17 239505v1 Meridian Fields 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 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. 35. 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. 18 239505v1 Meridian Fields 36. 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. 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. 19 239505v1 Meridian Fields 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 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 20 239505v1 Meridian Fields 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: • $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 21 239505v1 Meridian Fields 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 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 22 239505v1 Meridian Fields 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. 37. 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: Attn: David Von Ruden 1650 W 82nd Street, Ste. 300 Bloomington, Minnesota 55431. Notices to the City shall 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.] 23 239505v1 Meridian Fields 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 ______________, 2026, 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 24 239505v1 Meridian Fields DEVELOPER: PULTE HOMES OF MINNESOTA LLC BY: ___________________________________________ Its STATE OF MINNESOTA ) )ss. COUNTY OF WRIGHT ) The foregoing instrument was acknowledged before me this ________ day of ______________, 2026, by __________________________________ the ____________________________________ of PULTE HOMES OF MINNESOTA 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 25 239505v1 Meridian Fields EXHIBIT “A” TO DEVELOPMENT CONTRACT Legal Description of Property Being Final Platted as MERIDIAN FIELDS The South Half of the Northeast Quarter of the Southwest Quarter, Section 28, Township 121, Range 23, Wright County, Minnesota. AND The Southeast Quarter of the Southwest Quarter of Section 28, Township 121, Range 23, Wright County, Minnesota. EXCEPT that part of the Southeast Quarter of the Southwest Quarter, Section 28, Township 121, Range 23, Wright County, Minnesota, described as follows: Beginning at the Southeast corner of said Southeast Quarter of the Southwest Quarter; thence West along the Section line, 233.35 feet; thence North and parallel with the quarter section line of said Section 233.35 feet; thence East and parallel with the section line between Sections 28 and 33, 233.35 feet; thence South along the quarter section line 233.35 feet to the point of beginning. ALSO EXCEPT that part of the Southeast Quarter of the Southwest Quarter of Section 28, Township 121, Range 23, Wright County, Minnesota, described as follows: Commencing at the Southeast corner of the Southeast Quarter of the Southwest Quarter, Section 28, Township 121, Range 23; thence South 90 degrees 00 minutes 00 seconds West, assumed bearing along the South line of said Southeast Quarter of the Southwest Quarter, a distance of 258.36 feet; thence North 00 degrees 34 minutes 23 seconds West a distance of 50.00 feet to the Northerly line of Wright County Right of Way Plat No. 29 and the actual point of beginning of the land to be described; thence continuing North 00 degrees 34 minutes 23 seconds West and parallel with the East line of said Southeast Quarter of the Southwest Quarter a distance of 233.36 feet; thence North 90 degrees 00 minutes 00 seconds East, parallel with the South line of the said Southeast Quarter a distance of 208.91 feet to the Westerly line of Wright County Right of Way Plat No. 29; thence Southeasterly along said Westerly line of Wright County Right of Way Plat No. 29 and along a non-tangential curve concave to the Northeast with a radius of 709.00 feet, a central angle of 01 degrees 29 minutes 17 seconds, and a chord bearing South 01 degrees 35 minutes 36 seconds East a distance of 18.41 feet to a point of reverse curvature; thence continuing Southeasterly along said Wright County Right of Way Plat No. 29 and along said reverse curve a radius of 639.00 feet; a central angle of 02 degrees 54 minutes 14 seconds a distance of 32.38 feet; thence South 90 degrees 00 minutes 00 seconds West, not tangent to last described curve and parallel with the South line of said Southeast Quarter of the Southwest Quarter a distance of 192.36 feet; thence South 00 degrees 34 minutes 23 seconds East and parallel with the East line of the said Southeast Quarter of the Southwest Quarter to the North line of said Wright County Right of Way Plat No. 29 a distance of 183.36 feet; thence South 90 degrees 00 minutes 00 seconds West along the said North line of said Wright County Right of Way Plat No. 29 a distance of 25.00 feet to the point of beginning. ALSO EXCEPT the West 281.00 feet of the East 869.35 feet of the South 205.00 feet of the Southeast Quarter of the Southwest Quarter of Section 28, Township 121, Range 23, Wright County, Minnesota. AND 26 239505v1 Meridian Fields That part of the West Half of the Southwest Quarter of Section 28, Township 121, Range 23, Wright County, Minnesota, described as follows: Beginning at the Southeast Corner of the West Half of the Southwest Quarter; thence North 871.2 feet along the East line thereof; thence West 500 feet; thence South 871.2 feet; thence East 500 feet along the South line of said West Half of the Southwest Quarter to the point of beginning, EXCEPT the following described property: That part of the West Half of the Southwest Quarter of Section 28, Township 121, Range 23, Wright County, Minnesota, described as follows: Commencing at the Southeast corner of said West Half of the Southwest Quarter; thence West along the South line of said West Half of the Southwest Quarter, a distance of 250.00 feet to the actual point of beginning; thence continue West along said South line, a distance of 250.00 feet; thence North parallel with East line of said West Half of the Southwest Quarter, a distance of 871.20 feet; thence East parallel with the South line of said West Half of the Southwest Quarter, a distance of 250.00 feet; thence South parallel with the East line of said West Half of the Southwest Quarter, a distance of 871.20 feet to the point of beginning. [To be platted as Meridian Fields, Wright County, Minnesota.] 27 239505v1 Meridian Fields MORTGAGE HOLDER CONSENT TO DEVELOPMENT CONTRACT _______________________________________________________, which holds a mortgage on the subject property, the development of which is governed by the foregoing Development Contract, agrees that the Development Contract shall remain in full force and effect even if it forecloses on its mortgage. Dated this _____ day of ____________, 2_____. ______________________________________ ______________________________________ STATE OF MINNESOTA ) )ss. COUNTY OF __________ ) The foregoing instrument was acknowledged before me this _____ day of ________________, 2_____, by __________________________________________________________________________. ________________________________________ NOTARY PUBLIC DRAFTED BY: CAMPBELL KNUTSON Professional Association Grand Oak Office Center I 860 Blue Gentian Road, Suite 290 Eagan, Minnesota 55121 651-452-5000 DSK/smt 28 239505v1 Meridian Fields [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. DEMAND(S) FOR PAYMENT MAY ALSO BE MADE BY FACSIMILE TRANSMISSION TO ________ OR SUCH OTHER FAX NUMBER AS (NAME OF ISSUING BANK) MAY IDENTIFY IN A WRITTEN NOTICE TO YOU. TO THE EXTENT PRESENTATION IS MADE BY FACSIMILE TRANSMISSION YOU MUST PROVIDE TELEPHONE NOTIFICATION THEREOF TO (NAME OF ISSUING BANK) AT TELEPHONE NUMBER: _________ PRIOR TO OR SIMULTANEOUSLY WITH THE SENDING OF SUCH FACSIMILE TRANSMISSION. HOWEVER, THE ABSENCE OF SUCH TELEPHONE CONFIRMATION AS DESCRIBED ABOVE DOES NOT AFFECT OUR OBLIGATION TO HONOR SUCH DRAWING, IF SUCH DRAWING IS OTHERWISE IN COMPLIANCE WITH THE TERMS AND CONDITIONS OF THIS IRREVOCABLE LETTER OF CREDIT. IF DEMAND FOR PAYMENT IS MADE BY FAX, PRESENTATION OF ORIGINAL DOCUMENTS IS NOT REQUIRED. OR DEMAND(S) FOR PAYMENT TO BE MADE VIA EMAIL TO _______________. PRESENTATION OF ORIGINAL DOCUMENTS IS NOT REQUIRED. 29 239505v1 Meridian Fields 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 is issued subject to the International Standby Practices 1998, International Chamber of Commerce Publication No. 590 (“ISP98”). This letter of Credit shall also be governed by the laws of the State of Minnesota, including the Minnesota Uniform Commercial Code, to the extent not inconsistent with ISP98. We hereby agree that a draft drawn under and in compliance with this Letter of Credit shall be duly honored upon presentation. 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 CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO: 2026-67 VACATION OF EXISTING SLOPE, GRADING, AND MAINTENANCE EASEMENTS WITHIN THE PLAT OF MERRIDIAN FIELDS WHEREAS, Pulte Homes (“Subdivider”) is proposing the final plat of Meridian Fields (“Property”); and WHEREAS, the property to be final platted is encumbered by an existing slope, grading, and maintenance easement (“Easement A”) recorded as Document No. 684756 with the Wright County Recorder; and WHEREAS, the property to be final platted is encumbered by an existing slope, grading, and maintenance easement (“Easement B”) recorded as Document No. 693127 with the Wright County Recorder; and WHEREAS, the Subdivider has initiated vacation of said Easement A and Easement B as described by Exhibit A to allow for platting of the Property; and, WHEREAS, the City Engineer has reviewed the proposed vacation and determined that Easement A and Easement B are unnecessary for public purposes upon recording of the plat of Meridian Fields; and, WHEREAS, the Planning Commission held a public hearing at their meeting on 6 April 2026 to consider the vacation, preceded by required published and mailed legal notice, heard all parties interested therein, and closed the public hearing; after closing the public hearing the Planning Commission voted to recommend approval of the proposed vacation; and, WHEREAS, the Request for Council Action dated 10 August 2026 prepared by the City Planner, The Planning Company LLC, is incorporated herein; and, WHEREAS, the City Council considered the vacation request at its meeting on 10 August 2026, and having considered all information received finds that Easement A and Easement B serve no useful public purpose and vacating said easements would be in the public interest. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA: 1. That the slope, grading, and maintenance easements described by Exhibit A and Exhibit B are hereby vacated. 2. The vacation shall be effective upon recording of the final plat of Meridian Fields. 3. 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. (remainder of page blank; signatures follow) 2 ADOPTED by the City Council of the City of Otsego this 10th day of August, 2026. MOTION BY: SECONDED BY: IN FAVOR: OPPOSED: CITY OF OTSEGO __________________________________ Jessica L. Stockamp, Mayor ATTEST: __________________________________ Audra Etzel, City Clerk 1 CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO: 2026-68 APPROVING FINAL PLAT FOR MERIDIAN FIELDS WHEREAS, Pulte Homes (the “subdivider”) is proposing the final plat of Meridian Fields; and WHEREAS, the legal description of the subject property (the “property”) is attached as Exhibit A; and WHEREAS, the property is within the East Sewer District and is guided for Low Density Residential land uses by the 2023 Otsego Comprehensive Plan; and WHEREAS, the property is zoned R-5, Residential Single and Two Family District; and WHEREAS, a preliminary plat for subdivision of the property was approved by the City Council on April 13, 2026; and WHEREAS, the final plat consists of 49 single family lots, two outlots, and public right-of-way; and WHEREAS, final plat applications are processed in accordance with Section 10-3-3 of the Subdivision Ordinance and; WHEREAS, the Request for Council Action dated 10 August 2026 prepared by the City Planner, The Planning Company LLC, is incorporated herein; and WHEREAS, the application was considered by the City Council at its meeting on 10 August 2026. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Otsego that based on the foregoing information and applicable ordinances, the application is hereby APPROVED, subject to the following stipulations: 1. The developer shall execute a development contract as approved by the City Council. 2. All lots within the final plat shall comply with the following setbacks: Local ROW Interior Side Interior Rear 70th St. Odean Ave. Wetland Buffer 25ft. house 30ft. garage 7ft. 20ft. 65ft. 20ft. 3. Right-of-way dedication and access to 70th Street (CSAH 38) shall be subject to review and approval by Wright County. 4. Right-of-way dedication and street construction plans for City streets, including street lighting and street signs, shall be subject to review and approval by the City Engineer. 2 5. The builder shall install two shade trees upon each lot, one of which shall be in the front yard. 6. The developer shall install residential buffer yard landscaping as required by the Zoning Ordinance, subject to review and approval by the Zoning Administrator. 7. All grading, drainage, wetland impacts, and erosion control issues shall be subject to review and approval by the City Engineer. 8. All utility plans shall be subject to review and approval of the City Engineer. 9. The developer shall pay Utility Availability Charges at the time of final plat approval in accordance with the City Code and fee schedule in effect. 10. No Utility Availability Charges shall be collected for Lot 1, Block 1; Utility Availability Charges shall be collected for Lot 1, Block 1 when: a. The existing single family dwelling is connected to City sewer and/or water utilities. b. The lot is further subdivided subject to approval of a preliminary plat and final plat. 11. Utility Connection Fees shall be paid at the time a building permit is issued for each lot in accordance with the City Code and fee schedule in effect. 12. All drainage and utility easements shall be subject to review and approval by the City Engineer. 13. Outlot A and Outlot B shall be overlaid by temporary drainage and utility easements to expire upon recording of a final plat. 14. Park dedication requirements shall be satisfied as payment of a cash fee in lieu of land dedication in accordance with the fee schedule in effect at the time the Development Contract is executed. 15. Park dedication requirements for Lot 1, Block 1 shall be deferred until such time as the lot is further subdivided subject to approval of a preliminary plat and final plat. 16. 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. (remainder of page blank; signatures follow) 3 ADOPTED by the City Council of the City of Otsego this 10th day of August, 2026. MOTION BY: SECONDED BY: IN FAVOR: OPPOSED: CITY OF OTSEGO __________________________________ Jessica L. Stockamp, Mayor ATTEST: __________________________________ Audra Etzel, City Clerk EXHIBIT A LEGAL DESCRIPTION The Southeast Quarter of the Southwest Quarter of Section 28, Township 121, Range 23, Wright County, Minnesota. EXCEPT that part of the Southeast Quarter of the Southwest Quarter, Section 28, Township 121, Range 23, Wright County, Minnesota, described as follows: Beginning at the Southeast corner of said Southeast Quarter of the Southwest Quarter; thence West along the Section line, 233.35 feet; thence North and parallel with the quarter section line of said Section 233.35 feet; thence East and parallel with the section line between Sections 28 and 33, 233.35 feet; thence South along the quarter section line 233.35 feet to the point of beginning. ALSO EXCEPT that part of the Southeast Quarter of the Southwest Quarter of Section 28, Township 121, Range 23, Wright County, Minnesota, described as follows: Commencing at the Southeast corner of the Southeast Quarter of the Southwest Quarter, Section 28, Township 121, Range 23; thence South 90 degrees 00 minutes 00 seconds West, assumed bearing along the South line of said Southeast Quarter of the Southwest Quarter, a distance of 258.36 feet; thence North 00 degrees 34 minutes 23 seconds West a distance of 50.00 feet to the Northerly line of Wright County Right of Way Plat No. 29 and the actual point of beginning of the land to be described; thence continuing North 00 degrees 34 minutes 23 seconds West and parallel with the East line of said Southeast Quarter of the Southwest Quarter a distance of 233.36 feet; thence North 90 degrees 00 minutes 00 seconds East, parallel with the South line of the said Southeast Quarter a distance of 208.91 feet to the Westerly line of Wright County Right of Way Plat No. 29; thence Southeasterly along said Westerly line of Wright County Right of Way Plat No. 29 and along a non-tangential curve concave to the Northeast with a radius of 709.00 feet, a central angle of 01 degrees 29 minutes 17 seconds, and a chord bearing South 01 degrees 35 minutes 36 seconds East a distance of 18.41 feet to a point of reverse curvature; thence continuing Southeasterly along said Wright County Right of Way Plat No. 29 and along said reverse curve a radius of 639.00 feet; a central angle of 02 degrees 54 minutes 14 seconds a distance of 32.38 feet; thence South 90 degrees 00 minutes 00 seconds West, not tangent to last described curve and parallel with the South line of said Southeast Quarter of the Southwest Quarter a distance of 192.36 feet; thence South 00 degrees 34 minutes 23 seconds East and parallel with the East line of the said Southeast Quarter of the Southwest Quarter to the North line of said Wright County Right of Way Plat No. 29 a distance of 183.36 feet; thence South 90 degrees 00 minutes 00 seconds West along the said North line of said Wright County Right of Way Plat No. 29 a distance of 25.00 feet to the point of beginning. ALSO EXCEPT the West 281.00 feet of the East 869.35 feet of the South 205.00 feet of the Southeast Quarter of the Southwest Quarter of Section 28, Township 121, Range 23, Wright County, Minnesota. AND That part of the West Half of the Southwest Quarter of Section 28, Township 121, Range 23, Wright County, Minnesota, described as follows: Beginning at the Southeast Corner of the West Half of the Southwest Quarter; thence North 871.2 feet along the East line thereof; thence West 500 feet; thence South 871.2 feet; thence East 500 feet along the South line of said West Half of the Southwest Quarter to the point of beginning, EXCEPT the following described property: That part of the West Half of the Southwest Quarter of Section 28, Township 121, Range 23, Wright County, Minnesota, described as follows: Commencing at the Southeast corner of said West Half of the Southwest Quarter; thence West along the South line of said West Half of the Southwest Quarter, a distance of 250.00 feet to the actual point of beginning; thence continue West along said South line, a distance of 250.00 feet; thence North parallel with East line of said West Half of the Southwest Quarter, a distance of 871.20 feet; thence East parallel with the South line of said West Half of the Southwest Quarter, a distance of 250.00 feet; thence South parallel with the East line of said West Half of the Southwest Quarter, a distance of 871.20 feet to the point of beginning. 1 CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO: 2026-69 APPROVING A DEVELOPMENT CONTRACT FOR MERIDIAN FIELDS WHEREAS, Pulte Homes (the “subdivider”) is proposing the final plat of Meridian Fields; and WHEREAS, a final plat for the development was approved by the City Council on 10 August 2026; and WHEREAS, Section 10-10-4.A of the Subdivision Ordinance requires the developer execute 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 agreement; 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 that: 1. The Development Contract attached hereto between the City of Otsego and Pulte Homes of Minnesota 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. (remainder of page blank; signatures follow) 2 ADOPTED by the City Council of the City of Otsego this 10th day of August, 2026. MOTION BY: SECONDED BY: IN FAVOR: OPPOSED: CITY OF OTSEGO __________________________________ Jessica L. Stockamp, Mayor ATTEST: __________________________________ Audra Etzel, City Clerk