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WHEREAS, no expenditure of CITY funds, including the ordering of plans and <br />specifications, will be made until the City Code escrow requirements have been completed by <br />DEVELOPER; and <br /> WHEREAS, City Code Section 9.50.50 def'mes "Stage I" Improvements and "Stage II" <br />Improvements which respective definitions are used herein when reference is made to "Stage I" <br />and "S rage II" Improvements. <br /> <br /> NOW, THEREFORE, the CITY and DEVELOPER agree as follows: <br /> <br />STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES: <br /> <br />I..City To Order Imnrovements. The CITY will order the improvements to be <br /> ~onstructed and direct the City Engineer to prepare plans and specifications and advertise <br /> for bids and will award a contract for the construction of the Stage I Improvements to the <br /> lowest responsible bidder, <br /> <br />2. incorporation of All City Code Requirements. That the recitals above and the <br /> provisions of the City Charter, Subdivision Code, Zoning Code and Public Improvement <br /> Code of the CITY, as mended to date hereof, are incorporated herein by reference. <br /> <br />3. tmprovement~ to be Constructed by City. The CITY agrees to construct the <br /> · requested Stage I Improvements as petitioned for by the DEVELOPER, together with <br /> ~those Stage 1~ Improvements which are described in Paragraph 13 herein, according to the <br /> :terms and conditions of this Agreement. The Stage I Improvements to be constructed are <br /> ~as follows: streets, municipal water, sanitary sewer trunk and laterals, storm sewer <br /> ~system, improvements to T.H. #47, trails and sidewalks. Street lights shall be caused to <br /> ~be installed by the CITY and shall be paid for by the CITY as a Stage II cost. Each of the <br /> streets, described herein, will be hard surfaced with bituminous material including <br /> :'. installation of concrete curbs. <br /> <br /> Future Connection 0f. Xkimo Stree) t0 T,Ht. ~47. The DEVELOPER recognizes <br /> the furore need for the connection of Xldmo Street to T.H. g47 and agrees to escrow Thirty <br /> Thousand Dollars ($30,000.00) with the CITY for that improvement. <br /> <br /> I <br /> I <br /> I <br /> I <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 />! <br />I <br /> <br /> <br />