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WHEREAS, the DEVELOPER intends to cause its required improvements in the Plat to <br />be constructed without financial participation by the CITY. <br /> <br /> WHEREAS, the DEVELOPER desires to construct the Stage I and Stage II <br />improvements, except for those Stage II Improvements constructed by the CITY; and <br /> <br /> WHEREAS, no expenditure of CITY funds will be made until the relevant City 'Code <br />escrow requirements have been completed by the DEVELOPER. <br /> <br />NOW, THEREFORE, the CITY and DEVELOPER agree as follows: <br /> <br /> SECTION I <br />STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />City Code Compliance. The CITY approves the Plat conditioned on the DEVELOPER <br />developing the Plat in accordance with the applicable provisions of City Code, Section <br />9.50, entitled Subdivision. A variance to the public road access requirements contained in <br />this section was granted by the Board of Adjustment on October 2, 2003. <br /> <br />Conformance with Plan. The Plat shall be developed pursuant to the Final Plat <br />consisting of two (2) sheets (final plat entitled Riverbrook and house pad exhibit). <br />prepared by RLK-Kuusisto, LTD received November 25, 2003, and one (1) sheet (Tree <br />Preservation exhibit) prepared by the applicant, received December 3, 2003. <br /> <br />Incorporation of All City Code Requirements. That the recitals above and the <br />applicable provisions of the City Charter, Subdivision Code, Zoning Code and Public <br />Improvement Code of the CITY, as amended to date hereof, are incorporated herein by <br />reference. <br /> <br />Stage I Improvements Required. The improvements the CiTY requires the <br />DEVELOPER to construct within the Plat are as follows: <br /> <br />a. Natural gas <br />b. Telephone service <br />c. Electric service <br /> <br />("Stage I Improvments") <br /> <br />Stormwater Management Fee. The CITY has enacted a Stormwater Management Fee <br />in the amount of Three Hundred Seventy Five Dollars and no cents ($375.00) per new lot <br />created. A cash payment in the amount of Three Hundred Seventy-Five Dollars and no <br />cents ($375.00) (1 lot x $375.00) is due at the CITY prior to releasing the Plat for <br />recording. The existing homestead is exempt from the stormwater management fee. <br /> <br />Development Agreement/Riverbrook <br /> Page 2 of 8 <br /> <br /> <br />