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j. Irrigation metering and backflow devices shall be approved as part of the Utility Plan, <br />and installed accordingly by T&C. <br />k. Irrigation rain sensors shall be installed and appropriately placed throughout the <br />development by T&C, <br />1, Establishment of turf in areas disturbed during construction and in accordance with <br />the Plat. RTC's responsibility except to the extent located within platted blocks, <br />which is T&C's responsibility. <br />m. Temporary and permanent erosion control. RTC's responsibility except to the <br />extent located within platted Mocks, which is T&C's responsibility. <br />n. Natural gas, RTC's responsibility except to the extent located within platted <br />blocks, which is T&C's responsibility. <br />o. Telephone service. RTC's responsibility except to the extent located within <br />platted blocks, which is T&C's responsibility. <br />p. Electric service. RTC's responsibility except to the extent located within platted <br />blocks, which is T&C's responsibility, <br />("Required Improvements"). <br />12. Required improvements Completion Date, The Required Improvements shall be <br />completed on or before July 30, 2006. <br />13. Required Improvements Financial Guarantee. In order to ensure the installation of the <br />Required Improvements in accordance with City specifications and in a timely manner, <br />T&C shall be required to deposit with the City a cash escrow or letter of credit, approved <br />as to form by the City, in the amounts set forth on Exhibit A attached hereto, which is <br />125% of the City's estimated cost of the Required Improvements. The foregoing deposits <br />by T&C shall be in accordance with the Escrow Agreement. Prior to the issuance of the <br />building permit, all financial guarantees must be provided as required herein. As provided <br />in Section 6, the parties may request interim disbursements in accordance with the Escrow <br />Agreement. <br />Upon completion of the construction of the Required Improvements, the financial <br />guarantee shall be returned to the party that made the deposit and each Developer shall be <br />required to provide the landscaping maintenance guarantee described in paragraph 24b of <br />this Development Contract. The determination of completion of the construction of the <br />Required Improvements shall be made by the City Council after consultation with the City <br />Engineer. In the event the DEVELOPERS fail to construct and install the Required <br />Improvements as required herein, the City Council may order the completion of the <br />Required Improvements with City day labor and/or by letting contracts for said <br />completion and draw upon the escrow for payment. Only the City Council shall leave the <br />authority to direct completion of the Required Improvements and withdraw from the <br />escrow account. The DEVELOPERS hereby grant permission and a license to the City <br />and/or its contractors and assigns to enter upon the Site for the purpose of completing the <br />construction and installation of the Required Improvements in the event of a default by the <br />DEVELOPERS. <br />Ramsey Town Center 7th Addition <br />Development Contract <br />Page 6 of 20 Pages <br />121117807r8810716 8118105 <br />