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-188- <br /> <br />Trunk and lateral watem~ains and appurtenances <br />Streets with concrete curb and gutter <br />Trunk and lateral storm drainage facilities <br />Lot ~ading and permanent erosion control <br />Trail Construction along Ramsey Blvd. N.W. <br />Sidewalk Construction along all public streets within the Plat as shown in the <br />final plans. <br />Natural gas <br />Telephone service <br />Electric service <br />Street lights (installment arranged by CITY during Stage I Improvements and <br />paid for by DE¥35LOPER as Stage ]2 Improvement) <br /> <br />( Sta=e I Improvements") <br /> <br />The DEVELOPER a~ees to construct the Stage I Improvemems according to the terms <br />and conditions of this a~eement and in accordance with DE¥~LOPERS' plans <br />submitted to the CITY. Said plans shall be in conformance with the G1L&DING PLAN <br />dated August 12, 2003, and the OTHER CONSTRUCTION PLANS as reviewed and <br />approved by the CITY. The final construction plan for the Stage I Improvements shall <br />be submitted to the City Engineer for review a nd approval p r/or t o commencement o f <br />construction. <br /> <br />The DEVELOPER shall be responsible for completing the rough ~ading and providing <br />lot corner stakes prior to the installation of under~ound utilities. <br /> <br />Stage I Improvements Completion Date. The Stage I Improvements being undertaken in <br />conformance with the GRADING PLAN shall be completed on or before October 1, 2004. <br />The Stage I Improvements being undertaken in conformance with the OTHER <br />CONSTRUCTION PLANS shall b e completed o ne (1) year from CITY approval o f the <br />Plat. <br /> <br />Stage I Improvement Financial Guarantee. The DEVELOPER shall provide a financial <br />guaramee to the CITY guaranteeing the construction of the Stage I Improvements and their <br />timely completion in two steps. The financial guarantee for work done in conformance with <br />the GILADING PLAIN shall be in the amount of Two Hundred Eighteen Thousand Dollars <br />and no cents ($218,000), which amount is 125% of the City Engineer's estimated cost of the <br />Stage I Improvements being constructed in conjunction with the GRADING PLAN. The <br />financial guarantee for work done in conformance with the OTHER CONSTRUCTION <br />PLANS shall be in the amount of One Million One Hundred Forty Three Thousand Dollars <br />and no cents ($1,143,000), which amount is 125% of the City Engineer's estimated cost of the <br />Stage I Improvements being constructed in conjunction with the OTHER <br />CONSTRUCTION PLANS. The financial guarantee required by this para~aph shall be in <br />the fo~rn of cash or a 'letter of credit, approved as to form by the CITY. The financial <br /> <br />Town Center Gardens Subdivision <br />Development Agreement <br /> Page 3 of 12 <br /> <br /> <br />