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DEVELOPMENT AGREEMENT - TROTT BROOK RIDGE ADDITION <br /> <br />10. <br /> <br />te~ms of the financial guarantee shall be deemed to have <br />been violated if the DEVELOPER fails to perform any of <br />the terms of this Agreement in the manner required by the <br />CITY and the CITY shall be entitled to recover from the <br />DEVELOPER or the issuer of DEVELOPER'S letter of credit, <br />the full amount of the letter of credit. <br /> <br />Stage I Improvements Approval. The DEVELOPER agrees that <br />it will not sell, rent, or otherwise cause to be <br />occupied, any premises constructed upon property within <br />the Plat until the CITY has approved the construciton of <br />the Stage I Improvements covered by this Development <br />Agreement, unless the CITY has agreed in writing to waive <br />this requirement as to a specific lot. <br /> <br />II <br /> <br />STAGE II IMPROVEMENTS: <br /> <br />Requirements after Street Surfacinq. After the street <br />surfacing is installed, the DEVELOPER shall clear any <br />soil, earth, or debris from the streets and from the lots <br />within the Plat resulting from any construction on the <br />Subject Property by the DEVELOPER or its successors and <br />assigns. The DEVELOPER, its successors or assigns agree <br />to complete all finished grading and swales and ditches <br />to the satisfaction of the City Engineer and to maintain <br />said grading, swales and ditches until Certificates of <br />Occupancy and septic system permits (if applicable) are <br />issued for all lots within the Plat. During this period <br />the DEVELOPER shall prevent erosion by wind and water to <br />the satisfaction of the City Engineer. <br /> <br />Restoration. DEVELOPER shall restore all disturbed <br />street right-of-way areas, including ditches, grading, <br />backslopes and establish turf by seeding of the ditch <br />areas. Said restoration to include such additional items <br />as the city Engineer may direct. <br /> <br />Street/Traffic Siqns and Seal Coatinq. The CITY will <br />install in the Plat, as Stage II Improvements <br />street/traffic signs and street seal coating. DEVELOPER <br />will pay to the CITY an amount equal to 100% of the City <br />Engineer's estimated construction cost of the items prior <br />to recording of the final Plat. The cost of these items <br />is Three Thousand Nine Hundred and no/!00 Dollars <br />($3,900.00). The specific amount for each of the Stage <br />II Improvements is as follows: <br /> <br /> <br />