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11. Stage I Improvements License. The PERMITTEE hereby grants the CITY and <br /> the CITY'S agents, employees, officers, and contractors an irrevocable license to <br /> enter the Subject Property to perform all necessary work and/or inspections the <br /> CITY deems appropriate during the PERMITTEE'S installation of the Stage I <br /> Improvements. The license shall expire after the CITY accepts ownership of Stage <br /> I Improvements. <br /> 12. Stage II CITY Improvements. The future improvements the PERMITTEE must <br /> construct or install are as follows: <br /> a. Street lights <br /> b. Installation of survey monumentation. <br /> (the"Stage II Improvements"). The PERMITTEE must complete the construction <br /> of the Stage II Improvements within one(1)year after the date upon which the Plat <br /> is recorded. <br /> PERMITTEE must install the Stage II Improvements in accordance with the <br /> Plans. Per City Code Section 117-615, the PERMITTEE shall provide the CITY <br /> with a set of re-producible as-built plans in Computer Aided Drafting(CAD)format <br /> upon completion of the Stage II Improvements and acceptance by the CITY. As <br /> as-built plans are a required Stage II Improvement item per City Code Section 117- <br /> 615, the CITY will not release the required Stage I Improvement Financial <br /> Guarantee noted in paragraph 46 above until CITY has received the as-built plans. <br /> Additionally, the PERMITTEE agrees to provide to the CITY the plans in CAD <br /> format prior to the commencement of construction of the Stage II Improvements. <br /> 13. Financial Guaranty for Stage II Improvements. The CITY does not require a <br /> financial guaranty to secure the PERMITTEE'S obligation to construct the Stage <br /> II Improvements. <br /> 14. Warranty for Stage I and Stage II Improvements. The PERMITTEE shall provide <br /> a one year warranty in the amount of 25% of the cost of the Stage I and Stage II <br /> Improvements. Said warranty shall be in force for one year following the final <br /> acceptance of any required improvements and shall guarantee satisfactory <br /> performance of said improvement. The warranty must be in the form of a Letter of <br /> Credit in a form acceptable to the CITY'S Finance Director or a cash escrow. <br /> 15. Street Cleaning and Clean Up. After the street surfacing that is a part of the Stage <br /> I Improvements is installed,the PERMITTEE shall clear any soil, earth, or debris <br /> from the streets. From time to time, the CITY may remove accumulations of soil, <br /> earth, and debris from the streets resulting from the construction of the Stage I <br /> Improvements. It shall be the PERMITTEE'S responsibility to pay the costs <br /> associated with this necessary street cleaning. Invoices from the CITY to the <br /> PERMITTEE for such costs shall be paid within fifteen (15) days of the date of <br /> the invoice. <br /> 4 <br />