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CR 2013-121 PUD Agreement - 108, 116, 120 Shady Oak RoadNovember 14, 2013 ia Council Report 13-121 PUD AGREEMENT —108, 116, AND 120 SHADY OAK ROAD Proposed Action Staff recommends adoption of the following motion: Move to approve the Planned Unit Development (PUD) Agreement between the City of Hopkins and Mokabaka LLC. With this action it is understood that staff is authorized to make minor changes to the agreement that do not impact the overall intent. Overview In November, the City Council approved the second reading for a PUD overlay zoning for 108, 116, and 120 Shady Oak Road. The preliminary/final plat, rezoning, and site plan were approved in October. In the proposed development, the side yard setbacks are less than the required, there are fewer parking spaces than required and the required landscaping is not present.. Also, the new building will not be allowed backlit signs and the building is required to have a driveway access to the VFW. This agreement is attached. It contains specific parameters on how the site must be developed. Supporting Information • PUD Agreement %IJ Nancy4. Anderson, AICP City Plffimer Financial Impact: $ 0 Budgeted: Y/N Source: Related Documents (CIP, ERP, etc.): Notes: PUD/DEVELOPMENT AGREEMENT This PUD/Development Agreement (this "Development Agreement") is made and executed this day of , 2013, by SSI Properties, Inc., a corporation under the laws of California ("Owner"), Mokabaka LLC, a limited liability company under the laws of the State of Minnesota ("Developer"), and the City of Hopkins, a municipal corporation under the laws of Minnesota ("City") RECITALS A. Owner is the fee owner of certain real property (the "Real Property") located in the City of Hopkins, Hennepin County, State of Minnesota, legally described in Exhibit A attached hereto and incorporated herein by reference. B. Developer made application to the City for approval of a plat of the Real Property to be known as Dorholt Addition (the "Plat"), site plan approval to develop the Real Property by constructing an approximately 10,400 square foot commercial building thereon and to place PUD overlay zoning on the Real Property. In support of those applications, Developer submitted to the City the Plans (described in Section 3 of this Development Agreement) describing and identifying, among other things, the proposed uses, design standards and other conditions that HopciviWokabakaPU DAgeement.11.6. l 3 will be applicable within the PUD zoning district. C. On September 3, 2013, the City Council of the City adopted its Resolution No. 13-53 approving the Plat. On October 1, 2013, the City Council adopted Resolution No. 13-60 approving the site plan for development of the Real Property and Resolution No. 13-61 approving the adoption of Ordinance No. 13-1067 approving overlay PUD zoning for the Real Property so that, in addition to its underlying zoning classification of B-3, the Real Property shall also have an overlay zoning classification of Planned Unit Development. Said Resolutions No. 13-53, 13-60 and 13-61 and Ordinance No. 13-1067 are incorporated in and made a part of this Development Agreement in their entirety. D. As a condition the approvals and adoption of the Resolutions and Ordinance described in Recital Paragraph C, the City has required Owner and Developer to execute and record this Development Agreement and to comply with and perform all of the agreements, terms, covenants, conditions and restrictions hereof. Owner and Developer have agreed: i ) to accept such agreements, terms, covenants and restrictions of this Development Agreement, ii) execute this Development Agreement, and iii) to record this Development Agreement as a servitude upon the title to the Real Property. E. Minn. Stat. 462.358, Subd. 2a. and Sections 562.06, Subd. 13, and 565.02 of the Hopkins City Code provide the City may require Owner and Developer to enter into a development agreement stating the terms and conditions for the City's approval of the Plat, site plan and PUD overlay zoning. The City has required Owner and Developer to enter into this Development Agreement under the authority provided in said Statute and in Sections 562.06 and 565.02 of the Hopkins City Code. NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated Hopcivil\MokabakaPUDAgreement.11.6.13 2 in and made a part of this Development Agreement, Owner, Developer and the City agree to the terms and conditions stated in this Development Agreement and Owner and Developer declare that all of the Real Property shall be held, transferred, leased, occupied, used, improved and developed subject to the following agreements, terms, covenants, conditions and restrictions: 1. Intent of PUD Zoning. The intent of the PUD overlay zoning is that the Real Property shall be redeveloped in conformity with the Plans, the terms and conditions stated in City Council Resolutions No. 13-60 and 13-61 and all of the terms, covenants and conditions stated in this Development Agreement, including the Development Design Standards described in Exhibit B attached hereto and incorporated herein ("Development Design Standards"). Owner and Developer agree to develop, maintain and operate the Real Property in conformance with Section 565 of the Hopkins City Code, the terms and conditions stated in said City Council Resolutions and the terms and conditions stated in this Development Agreement, including the Development Design Standards. 2. Construction of Improvements. Owner and Developer shall construct or reconstruct, install, complete and pay for the work, labor, materials, facilities and improvements required for the development of the Real Property, including all of the facilities and improvements as described in the Plans identified in Paragraph 3 of this Development Agreement. All of the parking and driveway areas, water, sewer, storm water, drainage, natural gas, underground electric, telephone and other private utility facilities and landscaping improvements required for the development of the Real Property (herein collectively referred to as the "Improvements") shall be designed and constructed at Owner and Developer's sole cost and expense, and in compliance with the Plans identified in Paragraph 3 of this Development Agreement. The Improvements shall be completed in accordance with: i) the Plans defined and Hopcivil\MokabakaPUDAgreement.11.6.13 3 identified in Paragraph 3 of this Development Agreement, as the same may be amended from time to time in accordance with its terms; and ii) all of the other terms of this Development Agreement. 3. Identification of and Compliance With Plans. The Real Property shall be developed and the Improvements constructed and completed in accordance with Plans A -F as described in this Paragraph 3 as the Description of Plans collectively to be referred to as the "Plans." The Plans shall not be attached to this Development Agreement. If any of the Plans are designated as "Preliminary", such Plan(s) shall, subject to City review, comment and approval, be modified, at Developer's expense, after the date of this Development Agreement to be suitable for final construction purposes before commencement of any of the work described or depicted in the Plan in question or issuance of a building permit for the work depicted in such Plan. Material changes to any of the Plans described in this Section shall also require review and approval by the City. At such time as a Plan has been replaced by a final Plan approved by the City, all references in this Development Agreement to such Plan shall refer to the final Plan. In the event of any conflict or inconsistency between the Plans and the provisions of this Development Agreement, the provisions of the Plans shall control. The Plans are: Description of Plans Plan A Grading, Drainage, Utility and Erosion Control Plan, including the "Notes and Details" sheet, prepared by Welsh Architecture ("Welsh") and Sunde Land Surveying ("Sunde") dated September 9, 2013. Plan B Final Landscape Plan prepared by Welsh dated September 4, 2013. Plan C Architectural Site Plan prepared by Welsh dated September 5, 2013. Plan D Plat of Dorholt Addition prepared by Welsh dated September 5, 2013. Plan E Exterior Elevations prepared by Welsh dated September 5, 2013. Hopcivil\MokabakaPUDAgreement.11.6.13 4 Plan F Preliminary Building Plan prepared Welsh dated September 5, 2013. 4. Additional Improvements. [This Section has been intentionally deleted.] 5. Construction Standards and Procedures. The Improvements shall be completed in accordance with the final Plans, City standards, codes, regulations and ordinances. In connection with the construction of the Improvements, Owner or Developer shall restore all City streets, utilities and other public facilities and property disturbed or damaged as a result of Owner or Developer's construction activities to substantially the same condition as existed prior to commencement of construction. 6. License. The Owner and Developer hereby grant the City, its agents, employees and inspectors a license to enter the Real Property, as necessary, to perform all work and inspections deemed appropriate by the City in conjunction with construction of the Improvements. 7. Improvements to be Transferred to City. [This section has been intentionally deleted] 8. Warranty. The Developer warrants that all trees and landscaping plantings which die within twelve (12) months from the date of planting shall be replaced by Developer at Developer's sole expense 9. Reimbursement of Costs to City. Developer acknowledges the City may retain consultants to provide services related to the redevelopment of the Real Property and this Development Agreement, and Developer shall reimburse the City for all reasonable out-of- pocket costs incurred by the City in connection with such redevelopment and the preparation, negotiation and execution of this Development Agreement, and the administration, performance Hopcivil\MokabakaPUDAgreement.11.6.13 5 and enforcement of this Development Agreement. Such out-of-pocket costs to be reimbursed by Developer shall include, but are not limited to, all reasonable fees due to consultants retained by City, whether incurred before or after the date of this Development Agreement and any Amendment thereto, including, without limitation, traffic, development, fiscal, environmental, geotechnical, surveying, engineering, and legal services of the City Attorney, the latter of which are to be reimbursed at the rate of $290.00 per hour. The selection of consultants and the extent of services to be provided by them shall be in the sole (but reasonable) discretion of the City. Such reimbursements from Developer shall be due and payable within thirty (30) business days of delivery of a copy of the invoice or statement therefor to the Developer, and shall bear interest at the rate of one percent (1%) per month, if not paid by Developer within thirty (3 0) days of the date the applicable invoice or statement has been delivered to Developer. If Developer fails to pay any reimbursement due to the City within the time period required by this Paragraph 9, the City shall be entitled to invoke and enforce all remedies available to the City under this Development Agreement upon a default by Developer. 10. Other Governmental Approvals. Owner and Developer shall obtain, all required approvals and/or permits from the Minnesota Pollution Control Agency ("MPCA"), Hennepin County, the Watershed District with jurisdiction over the Real Property, Minnesota Department of Health, Metropolitan Council and any other governmental authorities whose approval is required for the construction of the Improvements and the redevelopment of the Real Property. Owner and Developer shall maintain all such required permits and comply therewith at all times. 11. Time of Performance. Owner or Developer shall commence construction of the Improvements and the development of the Real Property no later than December 1, 2013, and HopcivilkMokabakaPUDAgreement.11.6.13 6 shall substantially complete construction of the Improvements and development of the Real Property within 18 months of commencement of construction. 12. Additional Conditions and PUD Zonine Requirements. Owner and Developer agree the Real Property shall be redeveloped, held, transferred, occupied, used and improved subject to and in compliance with the following additional terms conditions and requirements: A. The intent of the PUD overlay zoning, the permitted uses and design standards within the PUD overlay zone shall be as described in the Development Design Standards. The Real Property shall be redeveloped, improved and operated in accordance with the Development Design Standards. All uses of the Real Property shall be in accordance and conformity with the Development Design Standards. B. All revisions to the Plans shall be submitted for approval by City Staff, and additional requirements or conditions for construction of Improvements may be imposed upon Developer, based upon any material revisions to the Plans. All revised Plans must be signed by the consultant preparing such Plans, and shall include revision dates. C. Any request for closure of a public street or alley by Owner or Developer must be accompanied by a detailed traffic control and detour plan reasonably acceptable to City Staff. D. The Developer shall provide evidence of title to the Real Property and any property over which public easements are to be granted to the City. Such evidence of title shall be in the form of a current Commitment for Owner's Title Insurance (ALTA form) covering all of the Real Property in which Commitment the City shall be identified as a proposed insured. The Title Insurance Commitment shall show good and marketable title to the Real Property in Developer and shall otherwise be acceptable to the City attorney. E. Owner or Developer shall obtain all required permits, licenses and approvals from Hopcivil\MokabakaPUDAgreement.11.6.13 7 Hennepin County for constructing and maintaining the public sidewalk to be constructed within the County -owned right-of-way of Shady Oak Road as shown in the Plans. F. Pickup or collection of trash, garbage and recyclable materials from the Real Property shall not be permitted between the hours of 10:00 PM and 7:00 AM. G. Owner and Developer shall otherwise comply with all conditions and requirements imposed by the City Council of the City in the City Council Resolutions identified in Recital Paragraph C and with the requirements of any applicable statutes, ordinances, codes or regulations. 13. Agreement Runs With Title. The terms, conditions and restrictions established by this Development Agreement shall run with the title to the Real Property and apply to and bind and benefit the Owner, Developer and the City and each and every subsequent owner of any part of the Real Property and their respective successors and assigns, and shall operate as a covenant passing with the title to the Real Property and any part thereof. By accepting a conveyance of all or any part of the title to all or any part of the Real Property, each of the successors or assigns of Owner and Developer agrees to be bound by all of the terms, covenants, conditions, liabilities and obligations imposed by this Development Agreement. All of said terms, conditions and restrictions are imposed upon the Real Property as a servitude in favor of the City of Hopkins, Minnesota, for its benefit and for the benefit of Developer and its successors and assigns. Each subsequent owner, transferee or assignee of Owner or Developer shall assume Owner and Developer's obligations under this Development Agreement, provided, such assignment shall not relieve Owner or Developer of any obligation arising prior to the effective date of the assignment. Developer may collaterally assign its interest in this Development HopciviWokabakaPUDAgreement. 11. 6.13 8 Agreement as security for any financing obtained by Developer for the development or improvement of the Real Property, provided any such assignment shall not relieve Developer of any of its liabilities, obligations or undertakings under this Development Agreement. The Developer represents that there is no Mortgage on the Real Property as of the date of this Development Agreement. The terms, conditions and restrictions established by this Development Agreement are perpetual in duration. 14. Security and Claims. To guaranty Owner and Developer's compliance with the terms of this Development Agreement (including any warranties provided for herein) and completion of landscaping improvements, Owner or Developer shall deliver to the City the following Letter(s) of Credit, surety bond(s) or performance bond(s) reasonably acceptable to and in favor of the City (the "Security") issued by a bank or surety reasonably acceptable to the City of Hopkins: A. The Security for the landscaping improvements comprising a part of the Improvements shall be delivered to the City before the issuance of a certificate of occupancy for the building to be constructed by Developer as part of the Improvements. The amount of such Security for landscaping improvements shall be equal to 150 percent of the estimated cost of the landscaping improvements depicted in the Plans as established by a written estimate submitted by Developer's landscaping contractor. The Security shall be conditioned upon Owner or Developer's completion of the landscaping improvements for which the Security is provided, performance of Developer's warranty under Paragraph 8 of this Development Agreement including replacement of landscaping and payment of the entire cost thereof, and the form and content of the Security shall Hopcivil\MokabakaPUDAgreemcnt.1 1.6.13 9 be subject to the reasonable approval of the City. The Developer shall maintain the Security in effect for a term ending one (1) year after the date of planting of all of the landscaping improvements (the end of such one (1) year term being herein referred to as the "Termination Date"). The City may draw upon or enforce the Security for any violation of the terms of this Development Agreement related to installation of landscaping improvements or Developer's warranty thereof which is not cured within thirty (30) days after written notice to the Developer, provided. If the Security is drawn upon, the draw shall be used to cure the default and may also be used to pay or reimburse the City for any cost, expenses or damages recoverable under Paragraph 15 of this Development Agreement. Provided no default then exists in Developer's compliance with the terms of this Development Agreement, the Security shall be released to Developer on the Termination Date. The Developer agrees that it shall protect, indemnify and hold the City and its agents, representatives and employees harmless from and against all costs, damages and liabilities, including reasonable attorneys' fees and Court costs, resulting from or incurred in connection with Developer's failure to comply with the terms, covenants, conditions and requirements of this Development Agreement. 15. Enforcement of Development Agreement. The terms, conditions, requirements and restrictions established by this Development Agreement shall be enforceable exclusively by the parties to this Development Agreement and shall be enforceable by injunctive relief, prohibitive or mandatory, to prevent the breach of or enforce performance or observance of the terms, conditions, requirements and restrictions established by this Development Agreement, or by any other available legal proceeding or remedy, including, but not limited to: Hopcivil\MokabakaPUDAgreement.11.6.13 10 a. Taking whatever action at law or in equity as may be reasonably necessary or desirable to enforce performance and observance of any of the obligations, agreements or covenants of the Developer or the City under this Development Agreement. b. Recovery of all costs and expenses incurred by the City in curing any default by Owner or Developer in the performance of any of the terms, covenants and conditions of this Development Agreement. C. Recovery of all reasonable costs, fees and expenses for engineering, legal and administrative fees and expenses incurred by the City in enforcing Owner and Developer's performance of this Development Agreement. d. Any other remedy or sanction provided by Minnesota Statutes or the Ordinances of the City of Hopkins. The City agrees that it shall give Owner and Developer written notice and a reasonable opportunity to cure any default by Owner or Developer in the performance of its obligations under this Development Agreement before incurring third -party costs and expenses that are recoverable from Developer under Subparagraphs a -d of this Paragraph 15, provided Owner or Developer shall proceed with all due diligence to cure any such default and shall cure the same within thirty (30) days after delivery of Notice of Default to Owner and Developer, provided, if the default is of such a nature that it cannot be cured within thirty (30) days, Owner or Developer shall have such additional period of time to cure such default as is necessary exercising and proceeding with all due diligence. If Developer fails to pay any amount due to the City under this Development Agreement following final adjudication such amount is due and payable, and thereafter fails to pay such amount after thirty (30) days' written notice to Developer demanding such payment, Owner and Developer agree the City shall be entitled to levy a special assessment against the Real Property in the amount stated in the Notice to Developer in accordance with Minn. Stat. Chapter 429, and Owner and Developer waives all objections to or appeals of the final amount of such special assessment levied against the Real Property. Owner and Developer Hopcivil\MokabakaPUDAgreement.11.6.13 11 acknowledge the rights of the City to enforce performance of the terms, conditions, requirements and restrictions established by this Development Agreement are special, unique, and of an extraordinary character and that, in the event Owner or Developer violates or fails or refuses to perform any term, condition or restriction established by this Development Agreement, the City shall have no adequate remedy at law. Owner and Developer agree, therefore, that in the event Owner or Developer violate any term, condition or restriction established by this Development Agreement, the City, may, at its option, initiate and prosecute an action to specifically enforce the perfonnance of the terms, conditions and restrictions established by this Development Agreement. No remedy specified in this Development Agreement is intended to be exclusive, and each remedy shall be cumulative, and in addition to each and every other remedy. Failure of the City to enforce any of the terms, conditions and restrictions established by this Development Agreement in any particular instance shall in no event be deemed to be a waiver of the right to do so as to any subsequent violation. Developer agrees that, in the event Owner or Developer defaults in the performance or observance of any of their obligations or undertakings under this Development Agreement or any amendment thereto, and upon final adjudication by a court of competent jurisdiction of such default, Developer shall pay the City's reasonable attorneys' fees and expenses incurred as a result of such default. Owner, Developer and the City agree that jurisdiction and venue for any proceeding to enforce any rights, remedies or obligations under this Development Agreement shall be in the District Court of Hennepin County, Minnesota, and that any proceeding to enforce the provisions of this Agreement shall be filed in said District Court. 16. Notices. Any notice, request or other communication required or provided to be given under this Development Agreement or any Amendment thereto shall be in writing and shall Hopcivil\MokabakaPUDAgreement.11.6.13 12 be deemed to be duly given when delivered personally to an officer or manager of Owner, Developer or to the City Manager of the City, or the next business day after deposit with a reputable delivery service such as UPS overnight or Federal Express guaranteeing next -day delivery or two (2) business days after having been mailed by first class United States Mail, postage prepaid, addressed as follows: To Developer: Mokabaka LLC 24 Shady Oak Road Hopkins, MN 55343 Attn: Dan Dorholt To City: City of Hopkins 1010 First Street South Hopkins, MN 55343 Attn: City Manager To Owner: SSI Properties, Inc. Attn: Rochelle Stone Any party may change its address for notice purposes upon ten (10) days notice to the other party in the manner required by this Paragraph 16. Any notice to Owner or Developer's successors in title to the Real Property shall be deemed properly given and delivered for all purposes if forwarded to the address of the record owner(s) of the Real Property at the time notice is given, as such addresses are stated in the records of the Hennepin County Property Tax Department. 17. Severability. Invalidation of any of the terms, conditions, provisions or restrictions of this Development Agreement, whether by court order or otherwise, shall in no way affect any of the other terms, conditions, provisions and restrictions, all of which shall remain in full force and effect. 18. Headings. The headings and captions at the beginnings of paragraphs of this Hopcivil\MokabakaPUDAgreement. l 1.6.13 13 Development Agreement are for convenience of reference only and shall not influence its construction. 19. Execution of Counterparts. This Development Agreement may be simultaneously executed in several counterparts, each of which shall be an original, and all of which shall constitute one and the same instrument. 20. Construction. This Development Agreement shall be construed and enforced in accordance with the laws of the State of Minnesota. 21. Evidence of Title, Recordation of Development Agreement, Mortgagee's Protection. Prior to the execution of this Development Agreement, Developer shall provide the City with evidence of title to the Real Property, at Developer's expense, in the form of a current Commitment for Owners' Title Insurance (ALTA form). The Title Insurance Commitment shall show good and marketable title to the Real Property in Developer subject to such matters as are reasonably acceptable to the City and do not affect the priority or enforceability of this Development Agreement, and shall otherwise be reasonably acceptable to the City Attorney, it being understood that this Development Agreement, when recorded, shall have priority over any mortgage or similar lien encumbering the Real Property. Owner or Developer shall cause this Development Agreement to be executed by or consented to by all persons holding any interest in the title to the Real Property, or lien thereon, as deemed necessary by the City. Owner and Developer agree to cause this Development Agreement to be filed for record as an encumbrance against the title to the Real Property. 22. Ownership, Maintenance and Repair of Improvements. The City shall not be responsible for the maintenance or repair of any of the Improvements and shall have no liability whatsoever for any costs, expenses, liabilities, obligations, claims and demands related to or HopciviWokabakaPUDAgreement.11.6.13 14 arising from, either directly or indirectly, the design, construction, use, maintenance, repair, reconstruction or replacement of such Improvements, together with all modifications or replacements thereof or additions thereto. The Developer shall protect, indemnify and hold the City, and its officials, representatives, agents and employees, harmless from and against all liabilities, obligations, responsibilities, claims, costs, expenses (including reasonable attorney's fees), demands and causes of action relating to or arising out of, directly or indirectly, the design or construction of the Improvements required to be constructed by Owner or Developer, including, but not limited to, claims for injury to persons or property. IN WITNESS WHEREOF, Owner, Developer and the City have executed this Development Agreement as of the date and year first above written. Developer MOKABAKA LLC LM Its STATE OF MINNESOTA ) ) ss. COUNTY OF 1 The foregoing instrument was acknowledged before me this day of 2013, by , the , of Mokabaka LLC, a limited liability company under the laws of the State of Minnesota, on behalf of the limited liability company. Notary Public HopciviluvlokabakaPUDAgreement.11.6.13 15 SSI PROPERTIES, INC. Its STATE OF ) ss. COUNTY OF _) The foregoing instrument was acknowledged before me this day of 2013, by , the , of SSI Properties, Inc., a corporation under the laws of California on behalf of the corporation. CITY OF HOPKINS By Eugene J. Maxwell Its Mayor By Michael Mornson Its Cily Manager STATE OF MINNESOTA ) ) ss COUNTY OF HENNEPIN ) The foregoing instrument was acknowledged before me this day of , 2013, by Eugene J. Maxwell, the Mayor, and Michael Mornson, the City Manager, of The City of Hopkins, a municipal corporation, under the laws of the State of Minnesota, on behalf of the municipal corporation. Notary Public THIS INSTRUMENT WAS DRAFTED BY: Steiner & Curtiss, P.A. 400 Wells Fargo Bank Building 1011 First Street South Hopkins, Minnesota 55343 Hopcivil\IvlokabakaPUDAgreement.11.6.13 16 EXHIBIT A LEGAL DESCRIPTION OF REAL PROPERTY Lot 1, Block 1, Dorholt Addition, Hennepin County, Minnesota Hopcivil\MokabakaPUDAgreement.11.6.13 17 EXHIBIT B DEVELOPMENT DESIGN STANDARDS I. Intent. The purpose of this overlay zone is to create a Planned Unit Development permitting the development, construction and operation of a facility complying with the permitted uses and design standards stated herein. The purpose and use of the overlay PUD zoning allow for more flexible design standards. The underlying B-3 zoning will remain in effect and any future use of property within the PUD overlay zone must be consistent and in conformity with the underlying B-3 zoning and the PUD overlay zoning. II. Permitted Uses. The permitted uses in the PUD overlay zone are limited to the permitted uses allowed in a B-3 zoning district under the Zoning Code of the City of Hopkins. III. Setback and Parking Requirements. Setback and parking requirements shall be the same as applicable in the underlying B-3 zoning district, with the following modifications and exceptions: a. The minimum side yard setback in B-3 zoning districts is 10 feet for the easterly side yard and 8 feet for the westerly side yard. A side yard setback of 0 feet will be permitted along the westerly property line and a side yard setback of 3.5 feet along the easterly property line. b. The minimum number of parking stalls to be constructed and maintained as part of the Improvements to the Real Property shall be 25 parking stalls, as shown in the Architectural Site Plan dated September 5, 2013. C. The landscaping to be installed and maintained on the Real Property shall be as depicted in the Final Landscape Plan dated September 4, 2013. IV. Design And Construction Standards. The following design standards shall apply to the improvements constructed on the Real Property: a. The exterior building elevations of the building to be constructed as part of the Improvements ("Building") shall be as shown on the approved Exterior Elevations prepared by Welsh Architecture dated September 5, 2013. b. No backlit or "canned" box type exterior signs may be installed or used on the Building. C. Driveway access to Shady Oak Road shall be maintained as shared access with the adjacent property to the north currently owned by VFW Post No. 425. d. Four "hitch" type exterior bicycle racks shall be installed and maintained on the Real Property. HopciviluvlokabakaPUDAgreement.11.6.13 18 certain mortgage, dated MORTGAGEE'S CONSENT , a , the mortgagee named in that (the "Mortgage"), which Mortgage was recorded as Hennepin County Document No. hereby consents to the foregoing PUD/Development Agreement and agrees that the Mortgage shall be subject and subordinate to said PUD/Development Agreement. STATE OF COUNTY OF laws of Its )SS The foregoing instrument was acknowledged before me this day of , 2013, by the , and the of a under the on behalf of the Notary Public Hopcivil\MokabakaPUDAgreement.11.6.13 19