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<br />the amount of One Hundred Fifty Three Thousand Eight Hundred Eighty One <br />($153,881.00), <br />Dollars and No Cents which amount is 125% of the <br />Estimate of the Stage I Improvements. Upon completion of Stage I Improvements <br />CITY <br />approved Grading Plan), and acceptance by the , supported by appropriate <br />DEVELOPER <br />lien waivers, the may request a reduction in the amount of the <br />financial guarantee. <br /> DEVELOPER <br />7.Inspection Fees for the Stage I Improvements. The shall provide <br />CITY <br />an inspection fee to the to inspect the Stage I Improvements. The <br />DEVELOPER <br /> shall be responsible for an inspection fee in the amount of Six <br />($6,155.00) <br />Thousand One Hundred Fifty Five Dollars and No Cents , which <br />Estimate of the Stage I Improvements. The <br />DEVELOPER <br />inspection fee must be in the form of a cash escrow. The may <br />request a refund of the remaining balance in the escrow upon completion of the <br />CITY <br />inspections for the Stage I Improvements and acceptance by the . <br /> DEVELOPER <br />8.Installation of the Stage I Improvements. The shall obtain all <br />necessary permits from all governmental agencies before commencing construction <br />PERMITEECITY <br />of the Stage I Improvements. The must provide the with <br />copies of all necessary permits from other governmental agencies prior to or when <br />DEVELOPER <br />the applies for a building permit to construct improvements on a <br />lot within the Plat. Within thirty (30) days after the completion and acceptance of <br />DEVELOPER CITY <br />the Stage I Improvements, the shall provide the with a <br />in CAD format for the Stage I <br />Improvements. <br /> DEVELOPER <br />9.Time of Performance for the Stage I Improvements. The must <br /> <br />complete theStage I Improvements within one (1) year after the recording of the <br />Plat. <br /> DEVELOPER <br />10.Ownership of the Stage I Improvements. The owns the Stage I <br />Improvements until the acceptance of the Stage I Improvements. Title to <br />CITY <br />the Stage I Improvements automatically passes to the upon the <br />CITY <br />written acceptance of the Stage I Improvements. Except to the extent the <br />has accepted all or portions of the Stage I Improvements, in writing, prior to the <br />CI <br />lapse, expiration, or other termination of the financial guaranty described <br />CITYDEVELOPER <br />in Section 6 and except to the extent the and the may agree, <br />in writing, to defer the acceptance of certain specified Stage I <br />CITY <br />Improvements, the is deemed to have accepted the Stage I Improvements <br />CITY <br />when the releases the financial guaranty described in Section 6. <br /> DEVELOPERCITY <br />11.Stage I Improvements License. The hereby grants the and <br />the agents, employees, officers, and contractors an irrevocable license to <br />enter the Subject Property to perform all necessary work and/or inspections the <br />CITYDEVELOPER <br /> deems appropriate during the installation of the Stage I <br />Ќ <br /> <br /> <br />