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10. <br /> <br />11. <br /> <br />12. <br /> <br />Payment of Sewer and Water Trunk Charges. The DEVELOPER shall pay its sewer <br />and water trunk charges of $ t,814.00 per residential unit or a tota~ of One Hundred Seven <br />Thousand and Twenty Six Dollars and no cents ($107,026.00) (59 x $1,814.00) and said <br />charges are due at the CITY prior to releasing the plat for recording. The lift station cost <br />will be shared between the DEVELOPER and the developers of Evergreen Point and <br />Wildlife Sanctuary 2''a Addition. Proof of this shared financial transaction must be <br />provided in a form acceptable to the City Finance Officer prior to release of the Plat for <br />recording. Attached to this agreement is the document that has been executed between <br />the DEVELOPER and the developers of Evergreen Point and Wildlife Sanctuary 2"a <br />Addition, associated with the construction of the shared lit5 station. <br /> <br />Stormwater Management Fee. The current Stormwater Management Fee is $375.00 <br />per unit. There are ultimately 126 un/ts proposed for the Subject Property. Therefore, <br />there is a stormwater management fee obligation in the amount of Forty Seven Thousand <br />Two Hundred Fifty Dollars and no cents ($47,250.00) (126 x $375/unit). The <br />construction of the storm sewer off-site improvements for tlxe Subject Property is <br />estimated at One Hundred Seventy Five Thousand Two Hundred Dollars and no cents <br />($175,200.00), Seventy Five Thousand Eight Hundred Sixty Two Dollars and no cents <br />($75,862.00) (43.3% of $175,200.00) of which is the responsibility of the Subject <br />Property: The CITY will allow the use of the stormwater management fees <br />($47,250.00) at the time the storm sewer outlet is accepted, in place, operational, and the <br />CITY is provided with proof of the financial transaction, in a form acceptable to the City <br />Finance Officer, between the DEVELOPER and Edina Development Corporation for the <br />off-site storm water trunk improvements. Costs in excess of the amount owed for <br />stormwater management shall be the responsibility of the DEVELOPER. Attached to <br />this Agreement is the document that has been executed between the DEVELOPER of <br />this Plat and the developers of Evergreen Point, and Wildlife Sanctuary 2nd Addition, <br />relating to the storm sewer project. The CITY has requested that lateral storm sewer <br />catch basins be included as part of the off-site storm sewer trunk improvements. This <br />additional cost must be quantified and will be the responsibility of the CITY. These <br />lateral costs have been estimated at Twenty Two Thousand Dollars and no cents <br />($22,000.00).. <br /> <br /> SECTION II <br />STAGE II IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />Stage II Improvements Required. The Stage II Improvements which 'the CITY <br />requires the DEVELOPER to construct within the Plat are as follows: <br /> <br />a) Street striping and signing <br />b) Traffic signing <br />c) Future Through Street Signing <br />d) Street lights <br />e) Street light maintenance <br /> <br /> Sunflower Ridge Subdivision <br /> Development Agreement <br /> Page 4 of 12 <br /> <br />-171- <br /> <br /> <br />