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WHEREAS, the DEVELOPER intends to cause its required improvements in the Plat <br />to be constructed without financial participation by the CITY; and <br /> <br /> WHEREAS, no expenditure of CITY funds will be made until the relevant City Code <br />escrow requirements have been completed by the DEVELOPER. <br /> <br />NOW, THEREFORE, the CITY and DEVELOPER agree as follows: <br /> <br /> SECTION I <br />STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />City Code Compliance. The CITY approves the Plat conditioned on the DEVELOPER <br />developing the Plat in accordance' with the applicable provisions of City Code, Section 9.50, <br />entitled Subdivision. <br /> <br />Conformance with Plan. The Plat shall be developed pursuant to the Final Plat Plan, <br />prepared by James R. Hill, Inc. and the' Site Plan, Utility Plan, Grading Plan, and Tree <br />Preservation Plan, dated June 8, 2004, revised July 2, 2004, revised August 18, 2004, revised <br />September 20, 2004, revised October 6, 2004, revised October 25, 2004, revised October 29, <br />2004, and the Landscaping Plan, revised November 11, 2004, also prepared by James R. Hill, <br />Inc. <br /> <br />Incorporation of All City Code Requirements. That .the recitals above and the applicable <br />provisions of the City Charter, Subdivision Code, Zoning Code and Public Improvement <br />Code of the CITY, as amended to date hereof, are incorporated herein by reference. <br /> <br />Stage I Improvements Required. The improvements the cITY requires the <br />DEVELOPER to construct within the Plat are as follows: <br /> <br />Trunk and lateral sanitary sewer system <br />Trunk and lateral watermains and appurtenances <br />Streets with concrete curb and gutter <br />Trunk and lateral storm drainage facilities <br />Lot grading and permanent erosion control <br />Natural gas <br />Telephone service <br />Electric service <br /> <br />("Stage [ Improvements") <br /> <br />The DEVELOPER agrees to construct the Stage I Improvements according to the terms <br />and conditions of this agreement, and in accordance with DEVELOPERS' plans <br />submitted to the CITY. Said plans shall be in conformance with the five-sheet set of <br /> <br />Regency Pond 4tit Addition <br />Development Agreement <br />Page 2 of 9 <br /> <br /> <br />