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-192- <br /> <br />10. <br /> <br />11. <br /> <br />12. <br /> <br />13. <br /> <br />as to form by the CITY. The maintenance guarantee shall be in the amount of Ten <br />Thousand Dollars and no cents ($10,000). <br /> <br />Payment of Sewer and Water Trunk Charges. The DEVELOPER shall pay its sewer <br />and water trunk charges of $1,814.00 per residential unit or a total of Twelve Thousand <br />Six Hundred Ninety Eight Dollars and no cents ($12,698) (7 x $1,814.00) and is due at <br />the CITY prior to releasing the plat for recording. <br /> <br />Stormwater Management Fee. The CITY has enacted a Stormwater Management Fee <br />in the amount of $375.00 per lot. A cash payment in the amount of Two Thousand Six <br />Hundred Twenty Five Dollars and no cents ($2,625) (7 lots x $375.00 per lot) is due at <br />the CITY prior to releasing the plat for recording. <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) Inspection <br />b) Street striping and signing <br />c) Traffic signing <br />d) Street lights <br />e) Street sweeping <br />f) Seal coating <br />g) Adjusting water shut-offboxes <br />h) Maintenance of storm water and facilities <br />i) Boulevard seeding <br /> <br />("Stage II Improvements") <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 Anoka Electric <br />Cooperative for the first three (3) years after final plat approval. The CITY will bill <br />residents in the Plat at least quarterly for street light maintenance and operation costs; <br />billing will be initiated at the time a residence connects to municipal water and sanitary <br />sewer. The DEVELOPER will pay to the CITY an amount equal to 100% of the City <br />Engineer's estimated construction cost of the items prior to recording of the final Plat. The <br />City Engineer's estimated cost of construction is: <br /> <br />a) Street striping and signing (__) <br />b) Traffic signing (~) <br />c) Street lights (__1) <br /> <br /> $ NA <br /> $0 <br /> $1,800 <br />The Ponds 2"d Addition Subdivision <br /> Development Agreement <br /> Page 4 of 11 <br /> <br />I <br />I <br />I <br /> <br />I <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 /> <br /> <br />