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12. <br /> <br />13. <br /> <br />14. <br /> <br />Cr~t up m providing a main~mancc ~an~. <br /> <br />Stage I [Improvement Maintenance Financial Guarantee. In addition to the <br />f'mancial ~uarantee required by Paragraph 8 above, the DEVELOPER shall also post a <br />Stage I in~.provement maintenance guarantee with the CITY. Sa.id maintenance guarantee <br />shall be d~ posited with the CITY at the time Stage I Improvements are accepted by the <br />CITY an~ prior to release by the CITY of the £mancial guarantee required by Paragraph 8 <br />above. T~e $10,000 maintenance guarantee shall be held by the CITY for a one (1) year <br />period fr ~o~n the date of its deposit. This financial guarantee is for the purpose of ensuring <br />that the S~age I improvements have been constructed in accordance with city standards and <br />may be ca~l,~ ed upon at the CITY'S discretion during said one (I) year period if the CITY <br />detern~ne~ it necessary to repair and/or replace any of the Stage I improvements. Said <br /> l <br />financial ~uarantee shall be in the form of a letter of credit, approved as to form by the <br />CITY. <br /> <br /> STAG~ II IMPROVEMENTS AND FINANCIAL GUARANTEES: <br /> <br />~;treet Ch~_aning. From time to time, the CITY ma), remove accumulations of soil, earth <br />and debris from the streets resulting from the construction of the Plat. It shall be the <br />DEVELC~PER'S responsibility to pay the'costs associated with this necessary street <br />cleaning, invoices from the CITY to DEVELOPER for such costs shall be paid within <br />fifteen (151 days of the date of invoice. <br /> <br />Street/Triffic. Signs, Street Lights, . Street Cleaning and Seal Coating. The <br />CITY will install in the Plat, as Stage 11 Improvements, street/traffic signs and sealcoating. <br />The DEVfi;LOPER will pay to the CITY as amount equal to 100% of the City Engineer's <br />estimated construction cost of the items prior to recording of the final Plat. The <br />DEVELOPER shall also deposit an amount that is determined by the CITY to be <br />adequate tn aid in the operation and maintenance of street fights in locations deterrrfined by <br />the Cit3 Er~gineer and installed by Anoka Electric Cooperative for the f'zrst three (3) years. <br />The CITY!will bill residents in the Plat at least' quarterly for street light maintenance and <br />operation c~bsts; billings will be initiated at the time' of connection to municipal water and <br />sanitary se~er. The cost of these items is: <br /> <br />Srre~et~ Cleaning <br />Sea!coating <br />Tw(~ (2) Traffic Sign(s) <br /> <br /> [ <br /> <br />$300.00 <br />$4,610.00 <br />$44O.OO <br /> <br />/$/ <br /> <br /> <br />