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<br />construct/on of the City Phase II Roadway Improvements within __ months of the date the City
<br />is obligated to cormnence the City Phase' II Roadway Improvements pursuant to the preceding
<br />sentence (the "City Phase II Roadway Improvements Substantial Completion Date"), and must
<br />install the final lift of the City Phase II Roadway Improvements with/n__ months following the
<br />City Phase II Roadway Improvements Substantial Completion Date; provided, however, if the
<br />City Phase ti Roadway Improvements Substantial Completion Date is on or after
<br />first of any year, the City is not obligated to install the final lift on the City Phase II Roadway
<br />Improvements until first of the following calendar year. Upon completion of the
<br />City's Phase II Roadway Improvements, the City Phase II Roadway Improvements will
<br />constitute public streets and will be maintained by the City as public streets.
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<br /> 7.10 STREET SIGNS AND GROUNDCOVER ESTABLISHMENT. The City's
<br />obligation to construct the City Phase II Roadway Improvements includes the obligation to
<br />install alt street identification signs and traffic control signs and signals required under the terms
<br />of the RTC Controls or required by any Other Regulatory Agency to serve the City Phase II
<br />Roadway Improvements. The City must also, as a part of the cost of construction the Phase II
<br />Roadway Improvements, seed or sod the boulevards adjacent to the City's Phase II Roadway
<br />Improvements pursuant to the requirements set forth in the Master Development Plans. Other
<br />than seeding or sodding the boulevards pursuant to the preceding sentence, the City is not
<br />responsible for any landscaping associated with the City Phase II Roadway Improvements.
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<br /> 7.11 CITY PHASE II ROADWAY IMPROVEMENTS FINANCING. The City will
<br />issue general obligation improvement bonds pursuant to Minnesota Statutes, Chapter 429 to
<br />finance the City Phase II Roadway Improvements. The City intends to pay 80% of the cost of
<br />the City Phase II Roadway Improvelnents (including the cost of the street signs and groundcover
<br />establisb2nent described in Section 7.10) from the City's general fund and to specially assess 20%
<br />of the cost of the City's Phase II Roadway Improvements (including the costs of the street signs
<br />and groundcover establishment described in Section 7.10) against the Project Assessment Parcels
<br />in the percentages set forth on Exhibit The levied special assessments will be payable in
<br />installments over a term of 15 years within interest at the rate of % per annum.
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<br /> 7.12 ASSESSMENT AGREEMENT FOR CITY PHASE II ROADWAY
<br />IMPROVEMENTS. Minnesota Statutes, Chapter 429, the City:'=s Charter and the City:'s
<br />Ordinances authorize the City to assess the cost of the City Phase II Roadway Improvements
<br />against the Project" ........ , r~ .... ~ m~,,~ Cit~, ....... ,~ .... ,; .... +~'"+ +~'~ City
<br /> .......................... . ......... o ....... a ............ Phase II
<br />Roadway Improvements A1 cos~$ Assessment Parcels. The Developer hereby
<br />consents to an assessment by the City in an amount equal to [20% of the
<br />costc0sts of $__~ ~,~,,o~ o-'~t~'* the P-mien_City. Phase II Roadway. Improvements against the.
<br />City Phase II Roadway Improvements Assessment Parcels against the City. Phase II Roadway
<br />Improvements Assessment Parcels (allocated among those parcels pursuant to the percentages
<br />set forth on Exhibit tJ),~ pursuant to Minnesota Statutes, Chapter ~,-~,~c~ +~.~ r~+~.~,~ c,,,~,.,_,~ ,,,~
<br />,_,,,~ ............... and waives an}, and all procedural and substantive objections to a special
<br />assessment in that amotint, including, but not limited to, notice and hearing requirements and a
<br />claim that the amount of the special assessment exceeds the benefit to the ¢¢ojeetCity Phase II
<br />g.oadway Improvements Assessment Parcels. Developer also waives any appeal rights otherwise
<br /> ...... ~-~--~ available '""~=~
<br />available pursuant to Minnesota Statutes, Section,,_,.,~,,~'m a~ and ~,0 **~, .................
<br />r:,_.~,,.~ .... +,.~ r,;,,, n,.,44 ....... n"m n~ The n;,., A ..... + ;~+':'-'~ *" ley
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