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~ 5 - <br /> <br />DEVELOPMENT CONTRACT - FLINTWOOD HILLS 2ND ADDITION <br /> <br />10. <br /> <br />Contract in the manner required by the City and the City <br />shall be entitled to recover from the Developer or the <br />issuer of Developers' letter of credit, the full amount <br />of the letter of credit. In addition a late charge fee <br />of 10% of any special assessment payment delinquent by <br />more than thirty (30) days shall be required for late <br />payments. Said 10% shall be paid to the Project's Bond <br />fund established by the City. <br /> <br />The developers agree to pay one-fourth (1/4) of the cost <br />of construction of the turn lanes on trunk Highway 47 at <br />the intersection of 142nd Avenue N.W. and trunk Highway <br />47. This cost will be assessed out with the streets in <br />FLINTWOOD HILLS 2ND ADDITION. <br /> <br />No plumbing permit shall be issued until the water meter <br />deposit in an amount determined by the City has been <br />received by the City. As part of the plumbing <br />requirements, backflow preventers shall be installed in <br />each sewer line. <br /> <br />No building permit for any lot in the plat shall be <br />issued until (a) vehicular access to the lot is <br />provided; (b) site plan approval is granted by the City <br />and any additional expense incurred in giving site plan <br />approval has been reimbursed to the City. <br /> <br />12. No certificate of occupancy shall be issued until: <br /> <br />(a) <br /> <br />Satisfactory State Building Code compliance has <br />been completed; <br /> <br />(b) <br /> <br />Hard surfaced driveways have been constructed, <br />unless satisfactory escrow representing 125% of <br />the City Engineer's estimated construction cost of <br />a hard surfaced driveway has been deposited with <br />the City. Said escrow shall be refunded upon <br />completion of the hard surfaced driveway as <br />approved by the City Engineer. <br /> <br />(c) <br /> <br />Sanitary sewer and municipal water systems-are <br />constructed and operational. <br /> <br />(d) <br /> <br />Payment of special assessments as required above <br />in paragraph 6. <br /> <br />13. <br /> <br /> II <br /> <br /> AS TO STAGE II IMPROVEMENTS: <br /> <br />After the street surfacing is installed, the Developers <br />shall clear any soil, earth, or debris from the streets <br /> <br /> <br />