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-188- <br /> <br />to form by the CITY. <br /> <br />$ ). <br /> <br />The maintenance guarantee shall be in the amount of equates to <br /> Dollars and no cents ($ ) . (5% x <br /> <br />Payment of Sewer and Water Trunk Charges. There is a sewer and water trunk fee of <br />$284,798.00 (157 units x $1,814/unit) due on the ultimate plat as reflected in the approved <br />preliminary plat. The City has requested the on site sewer be lowered to accommodate <br />expansion in the future. The cost of this work is estimated at $68,000.00. The <br />DEVELOPER has proposed that the remaining $216,798.00 be used for off-site sewer and <br />water improvements required to provide sewer and water to the site. These improvements are <br />estimated at Two Hundred and Fifty Five Thousand Dollars ($255,000.00). Since the costs <br />for the improvements exceed the Sewer and Water Trunk Fee, there shall be no trunk fees <br />collected as part of this Development Agreement. <br /> <br />10. <br /> <br />Stormwater Management Fee. There is a stormwater management fee of Thirteen <br />Thousand One Hundred Twenty Five Dollars and no cents ($13,125.00) (35 units x <br />$375/unit) due on the Plat. <br /> <br /> SECTION II <br />STAGE II IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />11. Stage II Improvements Required. The Stage II Improvements which the CITY requires <br /> the DEVELOPER to construct within the Plat are as follows: <br /> <br />a) <br />b) <br />c) <br />d) <br />e) <br />f) <br />g) <br /> <br />Street striping and signing <br />Traffic signing <br />Street lights <br />Sealcoating <br />Adjusting water shut-off boxes <br />Maintenance of storm water and facilities <br />Boulevard seeding <br /> <br />("Stage II Improvements") <br /> <br />12. <br /> <br />Payment for Stage II Improvements. The CITY will install in the Plat the Stage II <br />Improvements. The DEVELOPER shall also deposit an amount that is determined by the <br />CITY to be adequate to aid in the operation and maintenance of street lights in locations <br />within the Plat determined by the City Engineer and installed by Connexus for the first three <br />(3) years after final plat approval. The CITY will bill residents in the Plat at least quarterly <br />for street light maintenance and operation costs; billing will be initiated at the time a <br />residence connects to municipal water and sanitary sewer. The DEVELOPER will pay to <br />the CITY an amount equal to 100% of the City Engineer's estimated construction cost of the <br />items prior to recording of the final Plat. The City Engineer's estimated cost of construction <br />is: <br /> <br />a) <br />b) <br /> <br />Traffic signing (__ RS 120 each) $ <br />Street lights (__ ~ $1,700 each) $ <br /> Development Agrcement/Highlands At River Park 2"a Addition <br /> Page 4 of 11 <br /> <br />! <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />i <br />I <br />I <br />I <br />I <br />I <br />! <br />i <br /> <br /> <br />