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10. <br /> <br />II. <br /> <br />and no cents ($10,725.00) or Fourteen Thousand Three Hundred Dollars and no cents <br />($14,300) in any other form of Financial guarantee. This financial guarantee, in addition to <br />those purposes described above, shall assure the CITY that the improvements required <br />herein will be actually constructed and installed according to specifications approved by the <br />C1TY, and that the special assessments are paid as required herein. Because of the need to <br />guarantee the payment of the special assessments, the escrow shall be retained for the five <br />(10) year payment term of the assessments, or earlier date and lesser amount at such time <br />that outstanding special assessments and all other developer obligations are less than the <br />original cash requirement. <br /> <br />Estimated Costs. It is understood and agreed that construction cost amounts set forth in <br />this Agreement as Stage I and Stage II Improvements, unless specified as fixed amounts, <br />are estimated. The DEVELOPER agrees to pay the entire cost of said improvements <br />including interest, fiscal engineering and legal charges. <br /> <br />~otisfaetion of Sewer and Water Trunk Charges. An accounting of the charges <br />due from Deal Industrial Park results in a sewer and water trunk charge of Fifty One <br />Thousand One Hundred Fifty Two Dollars ($51,152.00), which shall be assessed equally <br />over the three (3) commemial lots. <br /> <br />.Date For Supplying Financial Guarantee. The DEVELOPER agrees to supply <br />the financial guarantee as described above to the CITY prior to the CITY ordering <br />preparation of the plans and specifications for construction of the Stage I Improvements. <br /> <br />II. <br /> <br />PERMITS, OCCUPANCY AND PROPERTY VALUES: <br /> <br />Requirements for. Building Permits. No building permit for any lot in the Plat shall <br />be issued until (a) site plan approval is granted by the CITY and any additional expense <br />incurred in giving site plan approval has been reimbursed to the CITY; (c) a Certificate of <br />Survey, including that information required by the CITY, has been supplied to the City <br />Building Official; and (d) all the financial guarantees required by the CITY have been <br />Satisfied. <br /> <br /> <br />