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improvements. Said financial guarantee shall be in the form of a letter of credit, <br />approved as to form by the CITY. <br /> <br />10. <br /> <br />Stormwater Management Fee. The CITY has enacted a Stormwater Management <br />Fee in the amount of $350.00 per lot. A cash payment in the amount of Seventeen <br />Thousand Eight Hundred Fifty Dollars and no cents ($17,850.00) is due at the <br />CITY prior to releasing the plat for recording. The stormwater management fee <br />will be utilized for connecting a storm outlet for Protected Wetland 118N. <br /> <br />II. STAGE II IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />11. <br /> <br />Street Cleaning. From time to time, the CITY may remove accumulations of soil, <br />earth and debris from the streets resulting from the construction of the Plat. It <br />shall be the DEVELOPER'S responsibility to pay the costs associated with this <br />necessary street cleaning. Invoices from the CITY to the DEVELOPER for such <br />costs shall be paid within fifteen (15) days of the date of invoice. <br /> <br />12. <br /> <br />Street/Traffic Signs, Street Lights, Street Cleaning and Seal Coating: The CITY <br />will install in the Plat, as Stage II Improvements, street/traffic signs and <br />sealcoating. The DEVELOPER will pay to the CITY an amount equal to i00% <br />of the City Engineer's estimated construction cost of the items prior to recording <br />of the final Plat. The DEVELOPER shall also deposit an amount that is <br />determined by the CITY to be adequate to aid in the operation and maintenance <br />of street lights in locations determined by the City Engineer and installed by <br />Anoka Electric Cooperative for the first three (3) years. The CITY will bill <br />residents in the Plat at least quarterly for street light maintenance and operation <br />costs; billings will be initiated at the time of connection to municipal water and <br />sanitary sewer. The cost of these items is: <br /> <br />Street Cleaning <br />Sealcoating <br />Three (3) Traffic Signs <br />Four (4) Street Signs <br />Twelve (12) Street Lights <br />Street Light Maintenance & Operation (3 Years) <br /> <br />$ 300.00 <br />$12,000.00 <br />$ 360.00 <br />$ 48O.O0 <br />$ 60O.00 <br />$ 3,240.00 <br /> <br />TOTAL $16,980.00 <br /> <br />13. <br /> <br />Hard Surfaced Driveways. Hard surfaced driveways are a requirement for each <br />lot in the Plat. Said improvement shall be installed by the building permit <br />applicant or the homeowner at the time the Certificate of Occupancy is issued or <br />as soon thereafter as possible, weather permitting. In the event this improvement <br />is not timely installed, the DEVELOPER, on behalf of all subsequent owners of <br />lots within the Plat, agrees that CITY may install said improvement on any lot <br />and specially assess its cost therefore against the lot. The DEVELOPER hereby <br /> <br /> <br />