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estimated cost of the Stage I Improvements. The inspection fee must be in the form <br />of a cash escrow. The DEVELOPER may request a refund of the remaining <br />balance in the escrow upon completion of the inspections for the Stage I <br />Improvements and acceptance by the CITY. <br />8. Installation of the Stage I Improvements. The DEVELOPER shall obtain all <br />necessary permits from all governmental agencies before commencing construction <br />of the Stage I Improvements. The PERMITEE must provide the CITY with <br />copies of all necessary permits from other governmental agencies prior to or when <br />the DEVELOPER applies for a building permit to construct improvements on a <br />lot within the Plat. Within thirty (30) days after the completion and acceptance of <br />the Stage I Improvements, the DEVELOPER shall provide the CITY with a <br />complete set of reproducible "As Built" plans in CAD format for the Stage I <br />Improvements. <br />9. Time of Performance for the Stage I Improvements_ _t e DEVELOPER must <br />complete the Stage I Improvements within one (1) year ';. the recording of the <br />Plat. <br />10. Ownership of the Stage I Improvements. The DEVELOPER owns the Stage I <br />Improvements until the CITY'S acceptance of the Stage I Improvements. Title to <br />the Stage I Improvements automatically passes to the CITY upon the CITY'S <br />written acceptance of the Stage I Improvements. Except to the extent the CITY <br />has accepted all or portions of the Stage I Improvements, in writing, prior to the <br />lapse, expiration, or other termination of the CITY' S financial guaranty described <br />in Section 6 and except to the extent the CITY and the DEVELOPER may agree, <br />in writing, to defer the CITY'S acceptance of certain specified Stage I <br />Improvements, the CITY is deemed to have accepted the Stage I Improvements <br />when the CITY releases the financial guaranty described in Section 6. <br />11. Stage I Improvements License. The DEVELOPER hereby grants the CITY and <br />the CITY'S agents, employees, officers, and contractors an irrevocable license to <br />enter the Subject Property to perform all necessary work and/or inspections the <br />CITY deems appropriate during the DEVELOPER'S installation of the Stage I <br />Improvements. The license shall expire after the CITY accepts ownership of Stage <br />I Improvements. <br />12. Stage II CITY Improvements. The future improvements the DEVELOPER must <br />construct or install are as follows: <br />a. Street striping and signing <br />b. Seal coating <br />c. Street lights (not required) <br />d. Inspections <br />e. Installation of survey monumentation. <br />f. Stage II cash deposit (not required) <br />3 <br />