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I <br />I <br />! <br />I <br />I <br />I <br />I <br />I <br /> <br />- 6 - <br /> <br />DEVELOPMENT CONTRACT - FLINTWOOD HILLS 2ND ADDITION <br /> <br />14. <br /> <br />15. <br /> <br />and from the lots within the plat resulting from any <br />construction on the land within the plat by the <br />Developers or its successors and assigns. The <br />Developers, its successors or assigns agree to complete <br />all finished grading and swales and ditches to the <br />satisfaction of the City Engineer and to maintain said <br />grading, swales and ditches until certificates of <br />occupancy are issued for all lots within the plat. <br />During this period the Developers shall prevent erosion <br />by wind and water to the satisfaction of the City <br />Engineer. <br /> <br />The Developers agree to complete the Stage I1 <br />Improvements as required by City Code Section ]70.039B, <br />paragraph 3 and said completion shall be in accordance <br />with the schedule outlined in Section ~70.39C, paragraph <br />3 of the City Code. <br /> <br />The escrow for Stage II Improvements shall be 325% of <br />the City Engineer's estimated cost of said improvements. <br />Said escrow may be cash or a letter of credit acceptable <br />to the City, at the Developer's option. This escrow <br />shall be provided prior to the issuance of any <br />certificate of occupancy for any lot in the <br />subdivision. <br /> <br />36. <br /> <br />38. <br /> <br />III <br /> <br />GENERAL <br /> <br />The Developers agree that this Development Contract <br />shall be binding upon its successors and assigns. <br />Breach of any of the terms of this Development Contract <br />by the Developers shall be grounds for denial of <br />Building Permits for buildings in the FLINTWOOD HILLS <br />2ND ADDITION plat. <br /> <br />The term "certificate of occupancy" as used herein <br />shall be defined as:.a document issued by the City's <br />Building Official which authorizes the structure to be <br />used for its intended purposes. <br /> <br />The Developers agree that it will not sell, rent, or <br />otherwise cause to be occupied, any premises <br />constructed upon property within the plat until the <br />City has approved the construction of the improvements <br />covered by this Development Contract, unless the City <br />has agreed in writing to waive this requirement as to <br />a specific lot. <br /> <br />The Developers agree to reimburse the City for all <br />costs incurred by the City in defense or enforcement of <br /> <br /> <br />