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a. the DEVELOPERS enter into this Contract, and <br /> <br />the DEVELOPERS provide the necessary security in accordance with the <br />terms of this Contract. <br /> <br /> 4. Development Plans. The DEVELOPERS shall develop the Plat in accordance <br />with the Final Plat and Final Engineering Plans preared by URS and dated June 24, 2005, and the <br />24-sheet set of civil plans prepared by Landform, dated jUne 24, 2005. The plans shall not be <br />attached to this Contract, but are in CITY files <br /> <br /> 5. Stage I Improvements Required. The improvements the CITY requires the <br />DEVELOPER to construct within the Plat are as follows: <br /> <br />f. <br />g. <br />h. <br />i. <br />j. <br /> <br />Trunk and lateral sanitary sewer system <br />Trunk and lateral watermains and appurtenances <br />Public streets with concrete curb and gutter <br />Trunk and lateral storm drainage facilities <br />Sidewalk Construction along' 146th Avenue, East Ramsey Parkway, East Town <br />Center Drive and Traprock Street, and Bunker Lake Blvd. <br />Trail construction along Bunker Lake Blvd. <br />Natural gas <br />Telephone service <br />Electric service <br />Street lights (installment arranged by the CITY during Stage I Improvements and <br />paid for by DEVELOPER as Stage II Improvement) <br /> <br />("Stage I Improvements") <br /> <br /> The DEVELOPERS agree to .construct the Stage I Improvements according to the terms <br />and conditions of this Contract and in accordance with DEVELOPERS' plans submitted to the <br />CITY. Said plans shall be in conformance with the Final Plat and Final Engineering Plans dated <br />June 24, 2005. All of the DEVELOPERS' plans are subject to revisions per City Staff Review <br />Letter dated July 7, 2005. The. final construction plan for the Stage I Improvements shall be <br />submitted to the CITY Engineer for review and approval prior to commencement of <br />construction. <br /> <br /> The DEVELOPERS shall-be responsible for completing the rough grading and <br />providing lot corner stakes prior to the installation of underground utilities. <br /> <br /> 6. Stage I Improvement Financial Guarantee. The DEVELOPERS shall provide a <br />financial guarantee to the CITY guaranteeing the construction of the Stage I Improvements and <br />their timely completion. The financial guarantee shall be in the amount of <br />Dollars and no cents ($ ), which amount is 125% of the CITY Engineer's <br />estimated cost of the Stage I Improvements. The financial guarantee required by this paragraph <br />shall be in the form of cash or a letter of credit, approved.as to form by the CITY. The financial <br />guarantee shall be deposited with the CITY at the time of execution of this Contract. Upon <br /> <br />Ramsey Town Center 7th Addition <br />Development Contract <br /> Page 3 of 16 Pages <br /> <br />-195- <br /> <br /> <br />