Agenda - Council - 11/26/2002 - Laserfiche WebLink

Home

-238- Incorporation of All City Code Requirements. That the recitals above and the applicable provisions of the City Charter, Subdivision Code, Zoning Code and Public Improvement Code of the CITY, as amended to date hereof, are incorporated herein by reference. Stage I Improvements Required. The improvements the CITY requires the DEVELOPER to construct within the Plat are as follows: g. h. i. j. k. Trunk and lateral sanitary sewer system Trunk and lateral watermains and appurtenances Lin Station Streets with concrete curb and gutter Trunk and lateral storm drainage facilities Lot grading and permanent erosion control Trail Construction Natural gas Telephone service Electric service Street lights (installment arranged by CITY during Stage I Improvements and paid for by DEVELOPER as Stage II Improvement) ("Stage I Improvements") The DEVELOPER agrees to construct the Stage I Improvements according to the terms and conditions of this agreement and in accordance with DEVELOPERS' .plans submitted to the CITY. Said plans shall be in general conformance with the Grading Plan prepared by John Oliver and Associates. The final construction plan for the Stage I Improvements shall be submitted to the City Engineer for review and approval prior to commencement of construction. The DEVELOPER shall be responsible for completing the rough grading and providing lot comer stakes prior to the installation of underground utilities. Stage I Improvements Completion Date. The Stage I Improvements shall be completed on or before November 30, 2003. Stage I Improvement Financial Guarantee. The DEVELOPER shall provide a financial guarantee to the CITY guaranteeing the construction of the Stage I Improvements and their timely completion. The financial guarantee shall be in the amount of Eight Hundred Seventy Five Thousand Dollars ($875,000.00), which amount is 125% of the City Engineer's estimated cost of the Stage I Improvements. The financial guarantee required by this paragraph shall be in the form of cash or a letter of credit, approved as to form by the CITY. The financial guarantee shall .be deposited with the CITY at the time of execution of this agreement. Upon total completion of Stage I Improvements. (including the removal of "temporary" erosion control measures as identified in the approved Grading Plan), acceptance by the CITY, Villas of Meadow Pointe Townhomes Subdivision DevelOpment Agreement Page 3 of 12 I I I I I I I I I I I I I I I I I I