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ARTICLE IV <br />CONSTRUCTION OF PUBLIC IMPROVEMENTS <br />Section 4.1. Construction of Public Improvements. The City has constructed, or is about <br />to construct, the following public improvements in accordance with the plans and specification <br />prepared by the City Engineer <br />(a) <br />Azurite Street to serve the Development Property <br />Extension of city services to the Development Property in accordance with plans and <br />specifications prepared by the City Engineer, which city services are municipal sanitary sewer, <br />water and storm sewer;(the "Public Improvements"). <br />The City shall retain a lien pursuant to the Lien Agreement on the Development Property <br />in the amount of Seventy Four Thousand and 00/100 Dollars ($74,000.00) until completion of <br />the Minimum Improvements by the Developer, which amount represents the Financial <br />Assistance. The Lien Agreement shall be substantially in the form attached as Exhibit F. The <br />City's lien shall at all times be subordinate to any first and second mortgage granted by the <br />Developer to finance the construction of the Minimum Improvements. The City will execute any <br />agreements reasonably requested by the Developer and/or Holders of any first or second <br />mortgage to evidence such subordination, except that the City is not obligated to subordinate the <br />Assessment Agreement to any Mortgage encumbering the Development Property. <br />14 <br />