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-'196- <br /> <br />10. <br /> <br />11. <br /> <br />12. <br /> <br />and/or replace any of the Stage I improvements. Said financial guarantee shall be irvthe <br />form o~' a letter of credit, approved as to form by the CITY. The maintenance guarantee <br />shall be in the amount of Ten Thousand Dollars and no cents ($10,000.00). <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 Fifty Eight <br />Tl~ousand and Forty Eight Dollars and no cents ($58,048.00) (32 x $1,814.00). <br /> <br />Stormwater Management Fee. The CITY has enacted a Stormwater Management Fee <br />in the amount of $375.00 per lot. A cash payment in the amount of Twelve Thousand <br />Dollars and no cents ($I2,000.00 (32 lots x $375.00 per lot) is due at the CITY prior to <br />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) <br />b) <br />c) <br />d) <br />e) <br />f) <br />g) <br />h) <br /> <br />Street striping and signing <br />Traffic signing <br />Street lights <br />Street sweeping <br />Sealcoating <br />Adjusting water shut-offboxes <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 It <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 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. <br />The City Engineer's estimated cost of construction is: <br /> <br />a) Street striping and signing $240.00 <br />c) Traffic signing $240.00 <br />e) Street lights (3 on Sunwood Drive) $5,100.00 <br />~) Street light maintenance & operation for 3 years SN/A <br />g) Street sweeping $300.00 <br /> <br />I <br />I <br /> <br />I <br />I <br />I <br />I <br />I <br />! <br />I <br />I <br />I <br />I <br />I <br />i <br />I <br />I <br />I <br />I <br /> <br /> <br />