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11. <br /> <br />12. <br /> <br />13. <br /> <br />14. <br /> <br />15. <br /> <br />DEVELOPMENT CONTRACT - NATURE VIEW <br /> <br />Street/Traffic Sion and Seel Coatino R~ouired. The CITY will install in <br />the Plat, as Stage II Improvements street/traffic signs and street seal coating. <br />DEVELOPER will pay lo the CITY an amount equal to 100% of the City <br />Engineer's estimated construction cost of these items prior to recording of the <br />final Plat, which amount is Three Thousand Seven Hundred and 0/100 Dollars <br />($3,700.00) <br /> <br />Herd ~vrfaced Driveways and Sodding. Hard surfaced driveways and <br />boulevard sodding are a requirement for each lot in the Plat. At the time of <br />issuance of a Building Permit for any lot, the Building Permit applicant shall <br />deposit a cash escrow or letter of credit with the CiTY in the amount of 125% of <br />the City Engineer's estimated construction cost of these improvements in order to <br />insure that these improvements are installed and completed prior to occupancy of <br />the residence. Upon satisfactory installation of these items as determined by the <br />City's Building Official, the escrow will be refunded to the Building Permit <br />applicant. In the event these items are not installed as described herein, the <br />CITY may use the escrow funds and complete said installation. <br /> <br />Itl. <br /> <br />PERMITS AND OCCUPANCY: <br /> <br />~ DEVELOPER at it's expense shall install a street light at the <br />intersection of Xeon Street N.W. and Nowthen Boulevard. Said street light shall <br />be installed in accordance with CITY standards and specifications. <br /> <br />Recluir¢ments for Bpilding Permit~. No building permit for any lot in the <br />Plat shall be issued until (a) vehicular access 1o the lot is provided including the <br />installation of Class V material on all streets in the Plat; (b) site plan approval <br />is granted by the CITY and any additional expense incurred in giving site plan <br />approval has been reimbursed to the CITY; (c) a Certificate of Survey including <br />that information required by the CITY has been supplied to the Building Official, <br />and the financial guarantees required by paragraphs four (4) and five (5) above <br />have been satisfied. <br /> <br />IV. <br /> <br />PARK DEDICATION: <br /> <br />Land D..edic~ti0n. Park dedication shall be satisfied by the DEVELOPER <br />dedicating to the CITY that parcel of land shown as "Park" on the Final Plat. The <br />DEVELOPER is not required to make a cash payment to the CITY for park <br />purposes. <br /> <br /> <br />