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o <br /> <br /> The DEVELOPER shalli be resPonsible for completing the rough grading and providing <br /> lot corner stakes prior to the installation of underground utilities. <br /> <br />Stage I Improvements ComPletion Date. The Stage I Improvements shall be completed on <br />or before March 1, 2006. <br /> <br />Stage I Improvement Financial Guarantee. The DEVELOPER shall be responsible for a <br />financial guarantee 'to the ciTY if or the construction of the trail improvements and their <br />timely completion. '.The CITY agrees to allow the DEVELOPER to pass the responsibility <br />for the financial surety required to th9 third party as a portion of site plan development <br />requirements, however, the plat shall not be released for recording until this surety is in place. <br /> <br />7. Inspection Fees. The DEVELOPER shallbe responsible for all inspection costs incurred <br /> by the City related to the installation of stage I Improvements. The DEVELOPER agrees <br /> that the inspection fees required as a part of Site Plan approval for the site (described in the <br /> Development Permit for Rams~ey Office Park) shall also apply towards installation of Stage I <br /> improvements described in Item #4 of this document. <br /> <br />8. Stage I Improvement Maintenance FinanCial Guarantee. The Developer or his assigns <br /> shall be responsible for providing a Surety t° correct any defect which may appear within <br /> twelve months following the installation of the trail. Said financial guarantee shall be in the <br /> form of a letter of credit, apprOved as to'form by the CITY. The maintenance guarantee shall <br /> be in the amount of no less than Ten Thousand Dollars and no cents ($10,000.00). <br /> <br />9. Sewer and Water Trunk Fees. Sewer and Water trunk charges were satisfied through a <br /> previous development agreement. <br /> <br />10. Stormwater Management Fee. The current Stormwater Management Fee is Three <br /> Thousand Eight Hundred Thirty FiVe DOllars and no cents ($3,835.00) per commercial area. <br /> The amount of Stormwater Management Fee due on the 1.45-acre parcel is Five Thousand <br /> Five Hundred Sixty Dollars and no Cents ($5,560.00). A cash payment will be required prior <br /> to the City issuing a Building Permit. <br /> <br /> SECTION II <br /> pARK DEDICATION <br /> <br />11, Park Dedication Requirements. Park dedication requirements were satisfied through a <br /> previous agreement. <br /> <br /> SECTION III <br />Tm SPO tT. TiON Am) LANDSCAPING <br /> <br />Ramsey Office Park <br />Development Agreement <br />Page 3 of 8 <br /> <br /> <br />