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escrow the funds with a title insurance company, the City must be a party to the escrow <br />agreement. Any escrow agreement established pursuant to this Section 9.7-shall provide for a <br />refund of the escrowed funds, as directed by the City and the Developer jointly, if the City and <br />the Developer agree on an alternative method for providing the financing for the construction of <br />the Phase I Parking Ramp. If the City has not commenced construction of the Phase I Parking <br />Ramp to be financed pursuant to Section 9.5 on or before the date 12 years after the date of this <br />Master A~eement, the escrowed funds, with interest, shall be refunded as provided for in the <br />escrow a~eement, and the Developer shall have no further obligations under Sections 9.5, 9.6 or <br />9.7. <br /> <br /> .ARTICLE 10 <br />DEVELOPER PL~LIC ~vPROVEMENTS <br /> <br />10.1 DEVELOPER PU'BLIC ][iYPROVEMENTS - MASS GRADEN'G .&NrD STOt~¥£ <br /> <br />WATER ,MA2qAGEMENT. The DeVeloper must mass ~ade the Subject Property and construct <br />a storm water management system to serve the Subject Property in accordance with the Master <br />Grading Plan and the Storm Sewer Phasing Plan Ex. hibit. Subject to Force Majeure, the <br />Developer must commence and complete each phase of the mass ~ading and each phase of the <br />construction of the storm water management system on or before the commencement and <br />completion dates established for such work in the Grading Plan and the Storm Sewer Phasing <br />Plan Exhibit. The Developer may not commence the Ikst phase of the mass ~ading and storm <br />water management system construction or any subsequent phase of the storm water management <br />system construction until: <br /> <br />the Developer has delivered to the City a letter of credit in an amount equal to <br />125% of the City Engineer's reasonable estimate of the cost of the work to be <br />performed as a part of that phase (the letter of credit the Developer delivers prior <br />to the commencement of construction of the first phase must be in an amount <br />equal to 125 ¥o of the City Engineer's reasonable estimate of the full cost of the <br />mass Fading for the Subject Property and 125% of the City Engineer's reasonable <br />estimate of the cost of the storm water management system construction which is <br />a parr of the first phase); <br /> <br />(b) <br /> <br />(c) <br /> <br />the Developer has paid to the City the inspection fees established under the <br />Zoning Ordinance with respect to the work to be performed as a part of that <br />phase; and <br /> <br />the Developer has provided the City with evidence that the ;..Developer has <br />obtained all approvals required from the Lower Rum P,./ver Water Management <br />Organization for the work to be performed as a part of that phase. <br /> <br /> ARTICLE 1 l <br /> DEVELOPER PU'BLIC IMPROVEMENTS - <br />L,dNDSCA_Ph'qG. PARKLA~ ~MPROVEME. NT. PEDESTRL'4.N IMPROVEMENTS <br /> <br /> t 1.1 L,&'slDSC)S~LNG ASSOCL%TED WITH CITY PI-L<SE I ROAJi)WAY <br />]lvfPROVEMENTS. Subject to Force Majeure, the Developer must commence the installation of <br /> <br /> <br />