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o <br /> <br />ao <br /> <br />ho <br /> <br />Trunk and lateral sanitary sewer system <br />Trunk and lateral watermains and appurtenances <br />Streets with concrete curb and gutter <br />Trunk and lateral storm drainage facilities <br />Lot grading and permanent erosion control <br />Trail Construction along Ramsey Blvd. N.W. <br />Sidewalk Construction along all public streets within the Plat as shown in the <br />final plans. <br />Natural gas <br />Telephone service <br />Electric service <br />Street lights (installment arranged by CITY during Stage I Improvements and <br />paid for by DEVELOPER as Stage II Improvement) <br /> <br />("Stage I Improvements") <br /> <br />The DEVELOPER agrees to construct the Stage I Improvements according to the terms and <br />conditions of this agreement and in accordance with DEVELOPERS' plans submitted to the <br />CITY. Said ,plans shall be in conformance with the GRADING PLAN dated August 12, <br />2003, and Sanitary Sewer, Watermain, Storm Sewer and Street Construction Plans dated <br />September 11, 2003 and as amended pursuant to City Staff Review Letter dated October 10, <br />2003 The final construction plan for the Stage I Improvements shall be submitted to the City <br />Engineer for review and approval prior to commencement of construction. <br /> <br />The DEVELOPER shall be responsible for completing the rough grading and providing lot <br />corner stakes prior to the installation of underground utilities. <br /> <br />Stage I ImprOvements Completion Date. The Stage I Improvements being undertaken in <br />conformance with the GRADING PLAN shall be completed on or before November 1, <br />2004. <br /> <br />Stage I Improvement Financial Guarantee. The DEVELOPER shall provide a financial <br />guarantee to the CITY guaranteeing the construction of the Stage I Improvements and their <br />timely completion. The financial guarantee for work done in conformance with the <br />CONSTRUCTION PLANS shall be in the amount of One Million One Hundred Forty <br />Three Thousand Dollars and no cents ($1,143,000), which amount is 125% of the City <br />Engineer's estimated cost of the Stage I Improvements being constructed in conjunction with <br />the CONSTRUCTION PLANS. The financial guarantee required by this paragraph shall be <br />in the form o~ cash or a letter of credit, approved as to form by the CITY. The financial <br />guarantee for Grading and Phase I Improvements shall be deposited with the CITY at the <br />time of execution of this agreement and recording of final plat, respectively. Upon total <br />completion of:Stage I Improvements (including the removal of "temporary" erosion control <br />measures as identified in the approved Grading Plan), acceptance by the CITY, supported by <br />appropriate lien waivers, the DEVELOPER may request a reduction in the amount of the <br /> <br />Town Center Gardens Subdivision <br />Development Agreement <br /> Page 3 of 12 <br /> <br /> <br />