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shall be in the amount of $104,550.00, which amount represents <br /> 150% of the estimated cost of constructing the streets as deter- <br /> mined by the City Engineer. In addition, the Developer shall <br /> cause the conveyance to the City of all drainage easements <br /> over the entire plat including Outlots F and G as required by <br /> the City Engineer. <br /> <br /> b. Pati~ion_fo~.Local Improvemen~ City acknowledges that <br /> it has received, as of Nov~nber 9, 1984, a petition from 100% of <br /> the abutting land owners of the above described streets, <br /> requesting that the City implement and complete the design and <br /> construction of the above named streets. City acknowledges, and <br /> Developer acknowledges, that no final action by the City pursuant <br /> to this request can be taken prior to early 1985, but that if the <br /> City Council at that time acts favorably upon the petition, and <br /> determines to proceed with said project, assessing the cost <br /> thereof against the~abutting properties, then in that event, the <br /> Developers shall be released of their obligation to post the <br /> <br />· security required in paragraph 2a above, but shall post such <br /> <br /> alternative security as is required by the City Code pursuant to <br /> the issuance of any general obligation bonds to pay for the cost <br /> <br /> of construction, or other requirements, if applicable. <br /> 3. Cgnveyanc~_of~ Golf~_Co~rse._L~nd <br /> a. No_~Park Land..Dedication_Fee It being, acknowledged <br /> that the proposed plat of Rum River Hills contains over 100 acres <br /> of land to be utilized as a public golf course, .and said <br /> circumstance being unique to a plat in the City of Ramsey, the <br /> park land dedication fee shall be waived. <br /> <br /> b. Vacation~i_of..Park ~he City acknowledges that it has, <br /> <br />3 <br /> <br /> <br />