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SECTION II <br />STAGE II IMPROVEMENTS AND FINANCIAL GUARANTEES <br />8. Stage II Improvements Required. The Stage II Improvements which the CITY requires <br />the DEVELOPER to construct within the Plat are as follows: <br />a) Monuments <br />("Stage II Improvements") <br />9. Payment for Stage II Improvements. The CITY will install in the Plat the Stage II <br />Improvements. The DEVELOPER will pay to the CITY an amount equal to 100% of the <br />City Engineer's estimated construction cost of the items prior to recording of the final. Plat. <br />The City Engineer's estimated cost of construction is: <br />a) Monuments <br /> <br />("Stage II Improvements") Total: $ <br />SECTION III . <br />PARK DEDICATION <br />11. Park Dedication Requirements. Park Dedication requirements were satisfied for Lot 1, <br />Block 1, ELMCREST SANCTUARY. Any additional lots created with future plats will be <br />subject to Park Dedication requirements at the rate in effect at the time a development <br />agreement is executed. <br />SECTION IV <br />TRANSPORTATION AND LANDSCAPING <br />12. Trail Development Fees. Trail Development Fees were not collected with the RABBIT <br />RUN plat. Since no additional buildable lots are being created, the DEVELOPER is not <br />required to pay a Trail Development Fee. Any additional lots created with future plats will <br />be subject to Trail Development Fees at the rate in effect at the time a development <br />agreement is executed. <br />Elmcrest Sanctuary <br />Development Agreement <br />January 2010 <br />Page 4 of 8 <br />