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DEVELOPMENT AGREEMENT - CEDAR HILLS <br /> <br />STAGE I IMPROVEMENT AND FINANCIAL GUARANTEES <br /> <br /> 4. Improvements to be Constructed ..by City. The City agrees to <br />construct the requested Stage I Improvements according to the terms and <br />conditions of this Agreement. The Stage I Improvements to be constructed are as <br />follows: <br /> <br />Trunk Sanitary Sewer (including subtrunks) <br />Trunk Watermain <br />Lateral Sanitary Sewer <br />Lateral Watermain <br />Lateral Storm Sewer <br />Streets, as designate in the final Plat <br />Concrete curbs and gutters <br />Trailways, as designated in the final Plat <br />Park Improvements, as designated in plans approved by the C~ty <br /> Engineer <br /> <br />(collectively, the "Public Improvements"). <br /> <br /> 5. Improvements to be Constructed by Developer. The Developer shall <br />be responsible at its expense for the following Stage I Improvements: <br /> <br />Lot grading, in accordance with a grading plan approved by the City <br /> Engineer <br />Street grading <br /> <br /> (collectively, the "Developer Improvements"). The Developer Improvements <br />shall be completed before the City begins construction of the Public Improvements. <br /> <br /> 6. City Sale of Improvements Bonds. The City agrees to sell <br />Improvement Bonds to cover the cost of construction of the Public Improvements <br />and the City will advertise for bids for the construction of the Public <br />Improvements and. will award a contract for that work to the lowest responsible <br />bidder. In the event that the City, for whatever reason is unable to sell the <br />Improvement Bonds as anticipated herein, the construction of the Public <br />Improvements shall immediately cease until the City approves an alternate method <br />by which to insure payment to the contractor for construction of the Public <br />Improvements. <br /> <br /> 7. Developer Reimbursement of All City Expenses. Except as otherwise <br />provided herein, the Developer agrees to fully reimburse the City for all costs <br />incurred by the City, including but not limited to the actual cost of construction of <br />the Public Improvements, engineering fees, legal fees, inspection fees, interest <br />fees, costs of acquisition of necessary easements, if any, and any other cost <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />i <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> <br />