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1 Conditions of Approval. The CITY hereby approves the Plat on condition that <br />PERMITTEE provide the necessary security in accordance with the terms of this <br />Contract. <br />2. Permittee Plans. PERMITTEE shall develop the Property in accordance with the <br />Permittee Plans, with changes as required by the City Staff Review Letter dated June 28, <br />2011, revised August 3, 2011. The plans shall not be attached to this Contract, but are in <br />CITY files.The Permittee Plans as they currently exist were prepared by: <br />• Sketch Plan Sheets 1 and 2 prepared by Harry S. Johnson Co., Inc. dated 6/1/11 <br />• Sheets C0.1, C1.0, C1.1, C2.0, C2.1, C2.2, C3.1, C3.2, C4.1, C4.2, C7.1, C7.2, C7.3, L2.1, <br />and L2.2 prepared by Landform Professional Services dated 6/7/11 <br />• South Elevation prepared by Mudrovich Architects undated <br />• Proposed Main and Second Floor Plans prepared by Mudrovich Architects dated 6/7/11 <br />3. Stage I Improvements. The "Stage I Improvements", consist of the following: <br />a. <br />b. <br />c. <br />d. <br />e. <br />f. <br />g. <br />h. <br />i. <br />J. <br />k. <br />1. <br />m. <br />n. <br />Lateral sanitary sewer system <br />Lateral watermains and appurtenances <br />Trunk and lateral storm drainage facilities <br />Lot grading <br />Trail construction along Nowthen Boulevard <br />Natural gas <br />Telephone service <br />Electric servic <br />ii <br />Temporary and permanent erosion control <br />Boule <br />Water shut-off boxes <br />Easement acquisition <br />As -built plans <br />PERMITTEE agrees to construct the Stage I Improvements according to the terms and <br />conditions of this Contract and in accordance with the Permittee Plans, which are subject <br />to revisions per City Staff Review Letter dated June 29., 2011, revised August 3, 2011 <br />and which shall be submitted to the City Engineer review and approval prior to execution <br />by PERMITTEE of any such contract and prior to commencement of construction of the <br />Stage I Improvements. <br />4. Stage I Improvement Financial Guarantee. The PERMITTEE shall provide a financial <br />guarantee to the CITY guaranteeing the construction of the Stage I Improvements and <br />their timely completion. The PERMITTEE shall be responsible for a financial <br />guarantee in the amount of Dollars and No Cents ($ .00), which <br />amount is 125% of the CITY Engineer's estimated cost of the Stage I Improvements. <br />The financial guarantee shall be deposited with the CITY at the time of execution of this <br />Contract. Upon completion of Stage I Improvements (including the removal of <br />"temporary" erosion control measures as identified in the approved Grading Plan), <br />STONEY RIVER <br />Development Agreement <br />Page 2 of 12 <br />