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Thc said ?,uamnte¢ will rcmai~r in effect for a two-year period commencing on the date of the <br />City's acceptance of' said pla.~t/ngs as part of Stage I improvements. The Stage I Financial <br />Guarantee (a~'; stipulated in pa~'agraph 6) will not be released until the CITY has received the <br />maintenance guarantee. The l~ndscape maintenance guarantee required is Eighteen Thousand <br />Seven l lunclred Thirty 1;'ire Dollars and no Cents ($18,735.00) [440 trees; 169 shrubs x cost <br />of' planting {$100/tree, $50/.qarub x 30% average non-survival rate plus 20 - 12 foot <br />evergreen trees at $500/irce x ~0% survival rate] <br /> <br />10. Payment of Newer and Ware:~ Trunk Charges. The DEVELOPER shall pay its sewer and <br /> water trunk charges of' $1,925.00 pet' residential unit or a total of Two Hundred Sixty Nine <br /> '['housand qYvo [lundrcd Twe~ty Dollars and no cents ($269,220) (140 x $1,923.00) and said <br /> charges are chte at the CITY prior to releasing the plat for recording. <br /> <br />1. 1. Stormwatcr Management Fee. The current Storrnwater Management Fee is $375.00 per <br /> unit. There a;c 140 units prol)osed to be constructed on the Subject Property. Therefore, <br /> there is a sto~mwater manage~aent fee obligation in the amount of Fifty Two Thousand Five <br /> I hmdred Dollm's and no cents ($52,500) (140 x $375). <br /> <br /> SECTION II <br />STA (; E ii IMP RO'~'E M ENTS AND FINANCIAL GUARANTEES <br /> <br />12. Stage II Improvements Req,drcd. 2he Stage II Improvements which the CITY requires <br /> thc !)EVE LOPER to construe!, within the Plat are as follows: <br /> <br />b) <br />c) <br />d) <br /> <br />g) <br />h) <br />i) <br />J) <br /> <br />Street striping amd si gnng <br />Traf~Sc signing <br />Future Through Street ~;i?ing <br />Street l igh. ts <br />Street light maintenanc, <br />Street sweeping <br />Seal coating <br />Adjusting water shut-.ol I' boxes <br />Maintenance of storm water and facilities <br /> <br />("Stage [1 improvements") <br /> <br />13. Payment for Stage I1 hnpr~wements. The CITY will install in the Plat the Stage II <br /> hnprovcmcn, t:;, The DEVEL(.~PI~kR shall also deposit an amount that is determined by the <br /> CITY to bc t~clequate to aid J~t tile operation and maintenance of street lights in locations <br /> within thc Plat determined by :he City Engineer and installed by Connexus for the first tkn'ee <br /> (3) years after 15nal plat atpprox al. The CITY will bill residents in the Plat at least quarterly <br /> lbr street ligt4 maintenance ;~nd operation costs; billing will be initiated at the time a <br /> Rivenwick Village <br /> Development Agreement <br /> Page 5 of 15 <br /> <br /> <br />