First Amendment to Development Contract Dakota RetailFIR.ST AMENDMENT
TO
DEVELOPMENT CONTRACT
T'X-[(S FIRST dMENDMENT TO DEVELOPMENT CONTRACT ("Amendment") is made
this _. day of 2023, by and between the CITY OF CHANHASSEN, a Minnesota municipal
corporation ("Cir-y"), and DAKOTA RETAIL, LLLP, a Minnesota limited liability limited partnership (the
"Owner" and "'Dr,reklper").
RECITALS
A, L')eveloper is the fee owner of certain real property located at 190 Lake Drive, Chanhassen, MN
55317 and legally described as:
Lot 1. Block l, Dakota Retail, Carver County, Minnesota, according to the recorded plat thereof ("Subject
Properqv");
B. The City and Developer previously entered into a Development Contract dated October 10,2022 and
filed of record on October 17,2022 with the Caner County Recorder as Document No. ,4753391 concerning the
conversion of portion of the building located on the Subject Property ("Development Contract");
227446v1.
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C. The City and Developer desire to amend the Development Contract to extend the date review the
need for additional parking spaces
NOW, THEREF'ORE, THE PARTIES AGREE AS FOLLOWS:
1. Paragraph 4 of the Development Contract s hereby amended in its entirety to read as follows:
4. If, prior to October lA, 2024, the City determines, in its sole discretion, that the parking
demand exceeds the number of constnrcted parking spaces, the City may terminate the parking deferment
granted herein and require Developer, upon written notice from the City, to construct l0 additional parking
spaces, the construction of which has been deferred pursuant to the Development Contract, and install
concrete curb and gutter at the time those additional l0 spaces are striped for parking. If Developer fails to
construct the 10 defened parking spaces, additional improvements required under Paragraph 3 of the
Development Conffact, or fails to execute the private stormwater maintenance agreement required under
Paragraph 2 within six (6) months after so requested by the City, the City may rescind the certificate of
occupancy for the building located on the Subject Propertv.
2. Except as herein amended, the Development Contract shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed this _ day of
_,2023.
[The remainder of this page has been intentionally left blank.
Signature p ages fo llow. J
2
22t446v1
(SE.AI,)
CITY OF'CHANIIASSEN
By:
Ryan, Mayor
And
Notary
srArE oF MTNNESOTA
]rr.
""^T:;ffi:sffument
*u, u]*o*redged berore me this &,
llyan and by Laurie llokkanen, respectively the Mayor and City Manager of the
2023. by Elise
a Minnesota
rnunicipal corporation, on behalf of the corporation and to the authority by its City Council
KIM T
Notary
Cqnmslm
. MEUWISSEN
Public-Minnesota
31, 2025
227446v1
J
DEVELOPER:
DAKOTA RETAIL, LLLP
By:
Its Managing Partner
tt)6oosl\
STATE OF MINNESOTA
COI.INTY OFS .&?I
The foregoing instrument was acknolvledged before nne this ?Jth day of firnaug+ , zoz3,by
Dario Klasik, the Managing Partner of Dakota Retail. LLLP, a Minnesota iimited liability limited partner, on its
behalf.
)
)ss.
)
Public
DRAFTED BY:
CAMPBELL, KNUTSON
Professio nal Asso ciation
Grand Oak Office Center I
860 Blue Gentian Road, Suite 290
Eagan, MN 55121
Telephone: (65 I ) 452-5000
aMP
4
22'7446v1
MORTGAGE HOLDER CONSENT
TO
FIRST AMENDMENT TO DEVELOPMENT CONTRACT
HIAWATHA NATIONAL BANK a Wisconsin Chartered Bank, which holds a mortgage on all or part of
the Property more particularly described in the foregoing First Amendment to Development Contract, which
mortgage is dated October 1,2021, recorded November 22,2021, as Carver County Document No. A737561, and an
Assignment of Rents dated October l, 2021, recorded November 22, 2021, as Carver County Document No.
A137562 (collectively "Mortgage"), agrees that the First Amendment to Development Contract shall remain in full
force and effect even if it forecloses on its Mortgage.
STATE OF WTSCONSIN )
)ss.
couNTY oF sr. cRorx )
\
HIAWATHA NATIONAL BANK
By:4"r.QQ['t, '6, /'
V
Its
IPrint name]
ITitle]
The foregoing instrument was acknowledged before me this -b-€{ .- Q-.s. <\ser-.the L\rsJ \*-ru,.-e- ot€.qs,..-
on behalf of said entity
auy or\rrquJ .2023,by
of uiu;;tE-Nutionat Bank, a
Wisconsin
\\oTAQP Notary Public
llt||t,.,
DRAFTED BY:
ClnnenrlL, KxursoN
Profe s s io n a I A s s o c i ati o n
Grand Oak Office Center I
860 Blue Gentian Road, Suite 290
Eagan, MN 55121
Telephone: (65 l) 452-5000
AMP
5
227416v1
Datedttris Ytarr"r k4st6\ ,2023.
t
a[rro
OF