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SECTION II <br />STAGE II IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />11. Stage II Improvements Required. The Stage II Improvements which the CITY requires <br /> the DEVELOPER to construct within the Plat are as follows: <br /> <br />a) Street striping and signing <br />b) Traffic signing <br />c) Street lights <br />d) Street light maintenance <br />e) Street sweeping <br />f) Seal coating <br /> <br />("Stage II Improements") <br /> <br />12. Payment for Stage II Improvements. The CITY will install in tlxe Plat the Stage II <br /> Improvements. The DEVELOPER shall also deposit an amount that is determined by the <br /> CITY to be adequate to aid in the operation and maintenance of street lights in locations <br /> within the Plat determined by the City Engineer and installed by Connexus for the first three <br /> (3) years after final plat approval. The CITY will bill residents in the Plat at least quarterly <br /> for street light maintenance and operation costs; billing will be initiated at the time a <br /> residence connects to municipal water and sanitary sewer. The DEVELOPER will pay to <br /> the CITY an amount equal to 100% of the City Engineer's estimated construction cost of the <br /> items prior to recording of the final Plat. The City Engineer's estimated cost of construction <br /> is: <br /> <br />a) Street striping and signing (565200) <br />b) Traffic signing (765200) <br />c) Street lights (5651500) <br />d) Street light maintenance (565270) <br />e) Street sweeping <br />f) Seal coating (6,700 sq. yds 65.85/sq. yd.) <br /> <br />$1,000.00 <br />$1,400.00 <br />$7,500.00 <br />$1,350.00 <br />$300.00 <br />$5,695.00 <br /> <br />("Stage II Improvements") <br /> <br />Total $16,945.00 <br /> <br />13. Hard Surfaced Driveways. Hard surfaced driveways (bituminous or concrete) are 'a <br /> requirement for each lot in the Plat. Said improvement shall be installed by the building <br /> permit applicant or the homeowner at the time the Certificate of Occupancy is issued or as <br /> soon thereafter as possible, weather permitting. In the event this improvement is not timely <br /> installed on a lot, the DEVELOPER and/or the DEVELOPER'S assign(s), agrees that the <br /> CITY may install said improvement on the lot and specially assess the cost therefore against <br /> the lot. The DEVELOPER hereby waives all right to a public hearing' and other statutory <br /> Alpine Acres Subdivision <br /> Development Agreement <br /> Page 5 of 12 <br /> <br /> <br />