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WHEREAS, no expenditure of CITY funds, including the ordering of plans and <br />specifications, will be made until the City Code escrow requirements have been completed by <br />DEVELOPER; aj~d <br /> WHERE~S, City Code Section 9.50.50 defines "Stage I" Improvements and "Stage II" <br />Improvement8 which respective definitions axe used herein when reference is made to "Stage I" <br />and "Stage Ii'~ Improvements. <br /> <br /> NOWi THEREFORE, the CITY and DEVELOPER agree as follows: <br /> <br /> I. <br /> sTaGE I IMPROVEMENTS AND FINANCIAL GUARANTEES: <br /> <br />1. Cit? fIrnl/rovements. The CITY and DEVELOPER recognize that all necessary <br /> improyements are in place to service all lots with the exception of Lots 5 and 6 of Block 3 <br /> and Lot 6 of Block 2. The DEVELOPER agrees to the CITY restricting building permits <br /> on the~e lois until such time as the street improvements are in place. <br /> <br />2. ]ncor~ora~tion of All City Code Requirements. That the recitals above and the <br /> provisions !of the City Charter, Subdivision Code, Zoning Code and Public Improvement <br /> Code cif the CITY, as amended to date hereof, are incorporated herein by referenCe. <br /> <br />3. lmprO~vements tQ be Constructed by Developer. The DEVELOPER shall be <br /> resp0[Sible, at its expense, for the completion of curb, gutter and street improvements to <br /> servi% ali: lots including those noted as being deficient in Paragraph 1 above. <br /> <br />4. Bou!e~ard and Area Restoration. The DEVELOPER shall be responsible for the <br /> cost o~ establishing seed or sod in all boulevards within thirty (30) days of the completion <br /> of the[; ren'j, aining street improvements, and restore all other areas disturbed by the <br /> develOpme~nt grading operation in accordance with the approved erosion and sediment <br /> contr°i plah. The DEVELOPER shall also be responsible for the cost of cleaning any <br /> soil, e/~rth for debris from the wetlands within and adjacent to this Plat resulting from <br /> grading performed in the development of the land. <br /> <br />Dev{ll0oer'. Reimbursement of All City Expenses. The DEVELOPER agrees to <br />fully.r~imbOrse the CITY for all costs incurred by the CITY including, but not limited to, <br />the aCt4ual cost of construction of said Stage I Improvements previously installed. Such <br /> <br /> <br />