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RIVER PARK 4TM ADDITION (the "Plat"), which approval is contingent on certain <br />requirements, including the DEVELOPER and the CITY entering into this Agreement; and <br /> <br /> WHEREAS, the final plat for the Subject Property conforms to the preliminary plat for <br />Highlands at River Park 4th Addition approved by the CITY on November 26, 2002; and <br /> <br /> WHEREAS, the CITY requires certain improvements to be constructed within the Plat, <br />which improvements are defined as Stage I and Stage II Improvements in the City Code; and <br /> <br /> WHEREAS, the DEVELOPER intends to cause the required improvements in the Plat <br />to 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 9.50, <br />entitled Subdivision. <br /> <br />Conformance with Plan. The Plat shall be developed pursuant to the Final Plat plans <br />consisting of Final Plat, Grading, Drainage, and Erosion Control Plan dated March 21, 2003, <br />Utility and Street Plans dated March 21, 2003, all prepared by Westwood Professional <br />Services, Inc., entitled Highlands at River Park 4th Addition. <br /> <br />Incorporation of All City Code Requirements. That the recitals above and the applicable <br />provisions of the City Charter, Subdivision Code, Zoning Code and Public Improvement <br />Code of the CITY, as amended to date hereof, are incorporated herein by reference. <br /> <br />4. Stage I Improvements Required/Phasing Plan. The improvements the CITY requires the <br /> DEVELOPER to construct within the Plat are as follows: <br /> <br />ao <br /> <br />Trunk and lateral sanitary sewer system <br />Trunk and lateral watermains and appurtenances <br />Streets with concrete curb and gutter <br />Trunk and lateral storm drainage facilities <br />Lot grading and permanent erosion control <br />Natural gas <br /> <br />Development Agreement/Highlands at River Park 4th Addition <br /> Page 2 of 11 <br /> <br /> <br />