Agenda - Council - 02/19/2013 - Special

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4988262v4 Lateral Fee is Twenty Six Thousand Three Hundred Thirty One Dollars and No Cents ($8,777 x 3 connections = $26,331.00). The CITY Engineer estimates that the cost of installing private water lines is $33,612. Because the estimated cost of installing private water lines exceeds the Water Lateral Fee, the PERMITTEE is not obligated to pay the Water Lateral Fee. 7. Stormwater Management Fee. The PERMITTEE is responsible for satisfying applicable Stormwater Trunk Fee requirements. The 2012 Stormwater Management Fee $4,465 per net developable acre. PERMITTEE must pay a Stormwater Management Fee of Seventeen Thousand Seven Hundred Twenty Six Dollars and No Cents ($4,465 x 3.97 acres = $17,726.00). Third parties may rely on recording of this Contract as conclusive evidence that this fee has been paid. 8. Street Light and Street Light Operation and Maintenance Fee. The PERMITTEE is responsible for satisfying applicable Street Light and Three Year Street Light Operation and Maintenance Fee requirements. The 2012 Street Light Fee for The COR is $2,600 per light, and the Plat will result in the installation of 12 lights. PERMITTEE must pay a Street Light Fee of Thirty One Thousand Two Hundred Dollars and No Cents ($2,600 x 12 lights = $31,200.00). The 2012 Street Light Operation and Maintenance Fee for The COR is $294 per light. PERMITTEE must pay a Street Light Operation and Maintenance Fee of Three Thousand Five Hundred Dollars Twenty Eight Dollars and No Cents ($294 x 12 lights = $3,528.00). Third parties may rely on recording of this Contract as conclusive evidence that this fee has been paid. 9. Development Fees for the Outlot A. The PERMITTEE agrees none of the above fees are being collected for the Outlot A and therefore Outlot A is subject to similar fees at a future date when it is platted for development.