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<br />SECTION I <br />STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />1. City Code Compliance. The CITY approves the Plat conditioned on the DEVELOPER <br />developing the Plat in accordance with the applicable provisions of City Code, Section 9.50, <br />entitled Subdivision. <br /> <br />2. Conformance with Plan. The Plat shall be developed pursuant to the Final Ylat Sheet <br />prepared by Hakanson Anderson Associates, Inc. <br /> <br />3. Incorporation of All City Code Requirements. That the recitals above and the applicable <br />provisions of the City Charter, Subdivision Code, Zoning Code and Public Improvement <br />Code of the CITY, as amended to date hereof, are incorporated herein by reference. <br /> <br />4. Stage I Improvements Required. The improvements the CITY requires the <br />DEVELOPER to construct within the Plat are as follows: <br /> <br />a. Lateral sanitary sewer system <br />b. Lateral watermains and appurtenances <br />c. Lot grading and permanent erosion control <br />d. Temporary and permanent erosion control facilities <br />e. Natural gas <br />f. Telephone service <br />g. Electric service <br />. h. Irrigation service <br /> <br />("Stage I Improvements") <br /> <br />The DEVELOPER agrees to construct the Stage I Improvements according to the terms <br />and conditions of this agreement and in accordance with DEVELOPER'S plans <br />submitted to the CITY. Said plans shall be in conformance with the grading and utility . <br />plans submitted by Hakanson Anderson Associates, Inc. datedJune 2, 2008. <br /> <br />The DEVELOPER shall be responsible for completing the rough grading and providing <br />lot comer stakes prior to the installation of underground utilities. <br /> <br />5. Stage I Improvements Completion .Date. The Stage I Improvements shall be completed on <br />or before June 24, 2009. <br /> <br />6. Stage I Improvement Financial Guarantee. The DEVELOPER shall provide a financial <br />guarantee to the CITY guaranteeing the construction of the Stage I Improvements and their <br /> <br />Knoll Properties Addition <br />Development Agreement <br />June 2008 <br />Page 20f7 <br /> <br />-193- <br />