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a. Construction by Developer Developer shall <br />guarantee that the oonstruction of the streets together with all <br />necessary ditches, backsloping, drainage and appurtenant <br />improvements, shall be in accordance with the standards of the <br />City of Ramsey, as found in the City Code, and as recommended by <br />the City Engineer. Pursuant to this guarantee, Developer shall <br />post security in a form approved by the City Attorney <br />guaranteeing that construction to City standards shall be <br />oompleted on or before July 1, 1986. Said security shall be in <br />the amount of $ , which amount represents 150% of the <br />estimated cost of constructing the streets as determined by the <br />City Engineer. All construction as described in this Agreement <br />shall be at the sole expense of the Developer. <br /> <br /> 3. Parkland Dedication Fee That the Developer shall pay <br />the City's required park dedication fee in accordance with the <br />current City Code requirements. <br /> <br /> 4. Restrictive Covenants Contemporaneously with and <br />immediately following the recording of the plat, and other <br />documents of conveyance as contemplated by this instrument, <br />Developer shall execute and cause to be recorded protective <br />covenants in a form and manner identical to Exhibit "C"hereto <br />attached. <br /> <br /> 5. Grading and Drainage Plan That the Developer shall <br />oomply with the drainage and grading plans attached hereto and <br />incorporated herein as Exhibit "D'. <br /> <br /> 6. Extension of White Tail Lane That the Developer shall <br />extend White Tail Lane from its eastern terminus across Outlot C <br />of the P.U.D. to the western terminus of 164th Avenue N.W. This <br />extension, including right-of-way acquisition and street <br />construction expense, shall be completed at the Developer's <br />expense and completed prior to July 1, 1988. Pursuant to this <br />guarantee, Developer shall post security in a form approved by <br />the City Attorney. Said security shall be in the amount of <br />$ , which amount represents 150% of the estimated <br />cost of constructing the street as determined by the City <br />Engir~cr. <br /> <br /> 7. Building Permits Developer agrees that, in compliance <br />withy the City Code, no building permits shall be issued until <br />(1) the construction bonds above described have been provided, <br />and (2) Class V gravel has been applied to the dedicated streets <br />and the streets have ~n approved by the City Engi~cr. <br /> <br />-2- <br /> <br /> <br />