A development agreement shall constitute a binding contract between the developer of a proposed subdivision and the city (the "parties") and shall contain those terms and conditions agreed to by the parties and those required by this title. The staff of the city, in conjunction with the city attorney, is authorized to negotiate development agreements on behalf of the city. The development agreement shall be adopted by the city council and recorded in the county recorder's office. Development agreement requirements may be waived for certain minor subdivisions upon a finding by the city engineer that they will serve no purpose. (2003 Code § 12-05-02)