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o <br /> <br />10o <br /> <br />plat boundary and providing ten (10) service stubs. <br /> <br />Construction al!..~J Cost Sharing of Riverdale Drive N.W. Riverdale <br />Drive N.W. shall be constructed in accordance with Municipal State Aid <br />specifications and in phases as shown in Exhibit A attached hereto. Phase I shall be <br />constructed Municipal State Aid specifications concurrently with Stage I <br />improvements described in Paragraph 4, at the expense of DEVELOPER A. The <br />CITY agrees to credit, in favor of DEVELOPER A, an amount equal to Twenty <br />Percent (20%) of the cost of pavement, curb and gutter, storm sewer, and <br />overhead, exclusive of the value placed on the right-of-way given toward future <br />construction of Phase II and/or Phase III of Riverdale Drive N.W. <br /> <br />DEVELOPER A also agrees to remove the pavement of existing Feldspar Street <br />N.W. between T.H. gl0 and Riverdale Drive N.W., upon request by the City <br />Engineer, and restore the area with turf, at the expense of DEVELOPER A. <br />DEVELOPER A shall receive a credit for the pavement removal in addition to that <br />stated above, in the same manner as above. <br /> <br />Phase II and Phase III of Riverdale Drive N.W. are shown on the approved final <br />plat as Outlots D and E. DEVELOPER A hereby agrees to deed these outlots to <br />the CITY, upon a written request, at no expense to the CITY upon any <br />subsequent construction, development or subdivision on Outlots A, B, F, or H, <br />exclusive of the second phase of residential development in Rivenwick. <br /> <br />Credit to Developer B. Upon satisfactory completion of Items 4 and 17 as <br />determined by the City Engineer, the CITY shall credit DEVELOPER B in the <br />amount of $58,000.00 against future developer costs from the City. <br /> <br />Boulevard and Ar~it Restoration. DEVELOPERS A and B shall be <br />responsible for the cost of establishing seed or sod in all boulevards within thirty <br />(30) days of the completion of the street improvements, and restore all other areas <br />disturbed by the development grading operation in accordance with the approved <br />erosion and sediment control plan. <br /> <br />.R~equirements after Street Surfacing. After the street surfacing is installed, <br />the DEVELOPERS A and B shall clear any soil, earth, or debris from the streets <br />and from the lots within the Plat resulting from any construction on the Subject <br />Property by the DEVELOPER B or their successors and assigns. <br /> <br />Stage I Irnl~rovement~ - Comnlction Date. The Improvement completion <br />date shall be on or before December 31, 1993. <br /> <br />Stage 1 Improvement Financial Guarantee. The DEVELOPERS agree <br />and understand that the CITY has the right, privilege and authority pursuant to <br />Minnesota Statutes Chapter 462.358 and as amended as a condition precedent to the <br />approval of the plans and specifications and approval of a final plat, to prescribe <br />requirements and the extent to which, and the manner in which the streets are to be <br />graded or improved, and the installation of sewer and water and other facilities and <br />that the DEVELOPERS shall provide a financial guarantee to the CITY to <br />provide for the actual construction and installation of the required Stage I <br /> <br />I <br /> <br /> <br />