Agenda - Council - 12/19/1989 - Laserfiche WebLink

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DEVELOPMENT AGREEMENT - SORTEBERG'S 6TH ADDITION WHEREAS, no expenditure of CITY funds, will be made until the City Code escrow requirements have been fulfilled by DEVELOPER; and WHEREAS, City Code Section 170.039B defines "Stage I" Improvements and "Stage II" Improvements which definition is used herein when reference is made to "Stage I" and "Stage II" Improvements; and WHEREAS, the DEVELOPER desires to construct the Stage I and Stage II improvements, except for those Stage II Improvements constructed by the CITY. NOW, THEREFORE, the CITY and DEVELOPER agree as follows: "STAGE I" IMPROVEMENTS: Compliance with city Code. That the recitals above and the provisions of the City Charter, Subdivision Code, Zoning Code and Public Improvement Code of the CITY as amended to date hereof, are incorporated herein by reference. Staqe I ImDrovements Required· The DEVELOPER-agrees %o construct the required Stage I Improvements according to the terms and conditions of this contract and in accordance with DEVELOPER's plans submitted to the CITY and approved by the City Engineer· Said plans consist of 3 sheets, are dated September 14, 1989, and revised October 14, 1989, and are drawn by Kenneth J. Gust and are entitled "Construction Plant for Sorteberg's 6th Addition" and "Grading Plan" The Stage I Improvements required to be constructed are those as shown on the above referenced plans. The plans are attached hereto and incorporated herein and are hereinafter referred to as "Stage I Improvements." Stage i ImDrovements - Completion Date. The Stage i Improvement completion date shall be on or before October 1, 1990. Stage I Improvement Financial Guarantee. The DEVELOPER agrees and understands that the CITY has the right, 2