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the CITY'S financial guaranty described in Section 6 and except to the extent the CITY <br />and the PERMITTEE may agree, in writing, to defer the CITY'S acceptance of certain <br />specified Stage I Improvements, the CITY is deemed to have accepted the Stage I <br />Improvements when the CITY releases the financial guaranty described in Section 12 or <br />allows such financial guaranty to lapse, expire or otherwise terminate. <br />9. Stage I Improvements License. The PERMITTEE hereby grants the CITY and the <br />CITY'S agents, employees, officers, and contractors an irrevocable license to enter the <br />Subject Property to perform all necessary work and/or inspections the CITY deems <br />appropriate during the PERMITTEE'S installation of the Stage I Improvements. The <br />license shall expire after the CITY accepts ownership of Stage I Improvements. <br />10. Stage II CITY Improvements. The public improvements the PERMITTEE must <br />construct or install are as follows: <br />a. Street striping (if required by Plans). <br />b. Street and traffic control signs. <br />(i) CITY will provide and install Street Name and Traffic Control signs <br />(following payment by PERMITTEE pursuant to the established rates and <br />charges in effect). <br />(the "Stage II Improvements"). The PERMITTEE must complete the construction of the <br />Stage II Improvements within one (1) year after the date upon which the Agreement is <br />recorded. <br />PERMITTEE must install the Stage II Improvements in accordance with the Plans. Per <br />City Code Section 117-615, the PERMITTEE shall provide the CITY with a set of re- <br />producible as -built plans in Computer Aided Drafting (CAD) format upon completion of <br />the Stage II Improvements and acceptance by the CITY. As as -built plans are a required <br />Stage II Improvement item per City Code Section 117-615, the CITY will not release the <br />required Stage I Improvement Financial Guarantee noted in Section 12 below until CITY <br />has received the as -built plans. Additionally, the PERMITTEE agrees to provide to the <br />CITY the plans in CAD format prior to the commencement of construction of the Stage II <br />Improvements. <br />11. Required Private Improvements. The private improvements the PERMITTEE will <br />construct or install are as follows: <br />a. Sanitary sewer <br />b. Water <br />c. Storm drainage facilities <br />d. Stormwater maintenance <br />e. Parking lot <br />f. Concrete curb and gutter <br />g. Lot grading <br />h. Landscaping <br />i. Water shutoff boxes <br />12. Financial Guarantee for Stage I Improvements, Stage II Improvements, and Required <br />Private Improvements. The PERMITTEE shall provide a financial guarantee to the CITY <br />3 <br />