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10. Ownership of Improvements. The PERMITTEE is not responsible for installation of <br />Stage I Improvements. The PERMITTEE acknowledges that Stage I Improvements <br />shall be required with future subdivision requests and will be reviewed at the time the <br />PERMITTEE submits any request for future subdivision. <br />11. License. PERMITTEE hereby grants to the CITY, its agents, employees, officers and <br />contractors, a license to enter the Property from time to time in order to perform all work <br />and/or inspections deemed appropriate by the CITY during installation of the <br />Improvements. This license shall expire after the Improvements installed pursuant to this <br />Contract have been installed and accepted by the CITY. <br />12. Stage II Improvements. The Stage II Improvements which the CITY requires <br />PERMITTEE to construct, which are not otherwise included in the Stage I <br />Improvements, are as follows: <br />a. Monument stakes for the Plat <br />PERMITTEE agrees to construct the Stage II 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 April 26, 2012 and which shall be <br />submitted to the City Engineer for review and approval prior to execution by <br />PERMITTEE of any such contract and prior to commencement of construction of the <br />Stage I Improvements. <br />13. Payment for Stage II Improvements. PERMITTEE shall be responsible for a financial <br />guarantee for the Stage II Improvements to ensure timely completion of the Stage II <br />Improvements. PERMITTEE shall be responsible for a financial guarantee for Stage II <br />Improvements in the amount of 125% of the City Engineer's estimated cost of the State II <br />Improvements. PERMITTEE shall deposit said amount as a letter of credit or cash <br />escrow at the time of execution of this Contract. <br />14. Street and Public Property Cleaning. PERMITTEE shall clear any soil, earth or debris <br />from the streets, public property and Stormwater facilities resulting from any construction <br />within the Property. From time to time and upon not less than thirty six (36) hours prior <br />notice to PERMITTEE, the CITY may remove, at the expense of PERMITTEE, <br />accumulations of soil, earth and debris from the streets and Stormwater facilities within <br />the Property resulting from construction of the Stage I Improvements, and PERMITTEE <br />shall pay each invoice from the CITY to PERMITTEE for such costs within fifteen (15) <br />days of receipt of the invoice. <br />15. Default. In the event of default by PERMITTEE as to any of the work to be performed <br />by it hereunder, the CITY may, at its option, perform the work and PERMITTEE shall <br />promptly reimburse the CITY for any reasonable expense incurred by the CITY, <br />provided PERMITTEE is first given written notice of the work in default, not less than <br />48 hours in advance. This Contract is a license for the CITY to act, and it shall not be <br />necessary for the CITY to seek a Court Order for permission to enter the Property. When <br />the CITY does any such work, the CITY may, in addition to its other remedies, assess <br />MAKOWSKY FAMILY FARM METES AND BOUNDS SUBDIVISION <br />Development Contract <br />Page 3 of 11 <br />