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ensuriag that the Stage I improvements have been constructed in accordance with City <br />standards and may be called upon at the CITY'S discretion during Said one (1) year period if <br />the CFEY deten-nines it necessary to repair and/or replace any of the Stage I improvements. <br />Said financial guarantee shall be in the fon-n of a letter of credit, approved -as to roma by t. he <br />CITY. The maintenance guarantee shall be in the amount of Ten Thousand Dollars and no <br />Cents ($10,000.00). <br /> <br />Payment of Sewer and wa}er Trunk Charges. There is ~ seWer: and Water' trunk feeOf <br />Three Hundred Five Tkousand Tv~° Hundred Fifty Daliars and no. cents ($183,076.00)~ (74 <br />units x $2,474/unit) due on the Plat. <br /> <br />10. Stormwater Management Fee. The current ston~water management fee is $375.00 per unit. <br /> Therefore, there is cash payment of Twenty Seven Thousand Seven Hundred Fifty Dollars <br /> and no cents ($27,750.01)) due for ston'nwater'management for this Plat. <br /> <br /> SECTION II <br />STAGE II IMPROVEMENTS AND FINANCIAL GUAIL4.NTEES <br /> <br />11. Stage II Improvements Required. The Stage II hnprovements which the CITY requires <br /> the DEVELOPER to construct within the Plat are as follows: <br /> <br />a) <br />b) <br />c) <br />d) <br />e) <br /> <br />g) <br />h) <br /> <br />Street striping and signing <br />Street lights <br />Street light maintenance and operation <br />Sealcoating <br />Street sweeping <br />,Adjusting water shut-offboxes <br />Maintenance of storm water and facilities <br />Boulevard seeding <br /> <br />("Stage Il hnprovements") <br /> <br />[2. Payment for Stage II improvements. The CITY will install in the Plat the Stage II <br /> h:nprovements. The DEVELOPER shall also deposit an amount that is determined by the <br /> CITY to be adequate to aid in the operation and maintenance of street lights in locations <br /> within the Plat detem~ined by the City Engineer and installed by Connexus for the first three <br /> (.3) years a[Ser final plat approval. The CITY will bill residents in the Plat at least quarterly <br /> li>r street light maintenance and operation costs; billing will be initiated at the time a <br /> r~icicnc~: connects to municipal water and sanitm~ sewer. The DEVELOPER will pay to <br /> ~hc CITY an amount equal ro 100% of the City Engineer's estimated construction cost of the <br /> ,, ~,_~n'" ..... ~ pr/or to recordin~ o,' ~' the final Plat. The City En,meerz' 's estimated cost Of consu-uction <br /> <br />Oe',.eloc, ment .<greemenu'¥"iiia~e of Sunfisi~ Lake ?d Addition <br /> Page ¥ Of 12 <br /> <br />-29- <br /> <br /> <br />