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-180- <br /> <br />10. <br /> <br />12. <br /> <br />13. <br /> <br />Construction of Watermain Loop: The DEVELOPER shall construct an eight (8) <br />inch watermain loop from the property line of the development to the existing watermain <br />located on the Lord of Life property or the CITY park (Solstice Park). The CITY will <br />require a 20-foot easement over the selected watermain route. Th.e DEVELOPER shall <br />receive credit against the trunk charges specified in item 9 of this agreement for the actual <br />construction costs plus 15% overhead for all watermain and appertenances locafed <br />outside of the development. Plans for the watermain looping shall be submitted and <br />approved by the City Engineer prior to construction. <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 Thirty One Thousand <br />Five Hundred Dollars and no cents ($31,500.00) (84 lots x $375.00 per lot) is due at the <br />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 />Street striping and signing <br />Traffic signing <br />Street lights <br />Street sweeping <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 />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 <br />the CITY to be adequate to aid in the operation and maintenance of street lights in <br />locations within the Plat determined by the City Engineer and installed by Connexus <br />Energy for the first three (3) years after final plat approval. The CITY will bill residents <br />in the Plat at least quarterly for street light maintenance and operation costs; billing will <br />be initiated at the time a residence connects to municipal water and sanitary sewer. The <br />DEVELOPER will pay to the CITY an amount equal to 100% of the City Engineer's <br />estimated construction cost of the items prior to recording of the final Plat. The City <br />Engineer's estimated cost of construction is: <br /> <br />a. Street striping and signing $120.00 <br />b, Traffic signing $120.00 <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />I <br />I <br />I <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> <br />